Mahindra Finance Used Car Loan

1. The lender offers used car loans at attractive interest rates. 

1. The repayment tenure may be up to 72 months. 

1. The documentation process is easy. 

1. Used car loans are disbursed quickly. 

1. No hidden charges are levied. 

How to Apply for a Mahindra Finance Used Car Loan?

The procedure that must be followed to apply for a used car loan offered by Mahindra Finance is mentioned below: 

1. Visit the official website of Mahindra Finance. 

1. Under the ‘Loans’ section, you will find the ‘Used Car Loan’ option, click on it. 

1. Next, click on ‘Apply Now’. 

1. Next, your name, mobile, number, and pin code must be entered. 

1. You will receive a call from a representative from Mahindra Finance. 

1. Next, documents will be verified before approval. 

1. Once the verification process has been completed, the loan will be provided. 

Eligibility Criteria

The eligibility criteria that must be met to avail a used car loan from Mahindra Finance are mentioned below: 

1. You must be between the ages of 21 years and 60 years. 

1. Self-employed individuals and salaried employees can apply for the loan. 

1. The income requirements will depend on the repayment tenure, vehicle’s age, and vehicle’s model. 

Documents Required

The list of documents that must be submitted to avail a used car loan from Mahindra Finance are mentioned below: 

1. Application form. 

1. Recent colour photograph. 

1. KYC documents. 

1. Proof of income. 

1. Proof of identity. 

1. Proof of address. 

EMI Calculator

If you wish to purchase a second-hand car, you can use BankBazaar’s used car loan EMI calculator to check the monthly payments. The calculator is simple to use and only basic details such as the loan amount, processing fee, tenure, and interest rate must be entered. Once the relevant details are entered, results will be displayed immediately, thus saving time. 

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