Car Refinance Loan is a secured loan like Mortgage Loan. In Car Refinance the Bank's and NBFC mark a lien on your paper and still the customer can use his car as usual. Interest rates in Car Refinance are similar to personal loan, but in Car Refinance the documents are less. Even if you car is not on Loan you can avail Car Refinance. You only need to give few details about your car such as model, year of manufacture.etc. If your car is already financed you need not worry your lien will be transferred from present lender to new lender .Car Refinance is the easiest and simplest way to get funds. Like Personal Loan in Car Refinance the end use of the funds is not monitored.

There is a difference between the traditional car loan and a Car Refinance loan. The former is purchase of a car while Car Refinance is used to solve your money requirement by pledging a car you already own.

If you are looking for urgent expenses to be met like marriage, for education or medical expenses. Car Refinance is the best option. In Car Refinance the most important document is the R.C book copy and insurance copy. However financial documents also needs to be submitted. The Car Refinance loan is essentially a secured loan like a home Mortgage Loan. However in Car Refinance the process is much simpler and much faster. The Car Refinance loans allow you to take a loan on your existing car, by pledging the car registration papers with bank's and NBFC.

So, if you have a requirement for money and you own a car, then Car Refinance is a viable option when compared to the personal loan. Creative Finserve will help you to give the best deal possible in Car Refinance with help of our professionals.

• Our expertise to get u the right Banks / Institute to fulfill your requirement.
• Loan repayment in flexible tenures from 12 months up to 60 months.
• Emergency Funds.
• Speedy approvals upto the valuation of the car.
• Balance transfer of car loan to get additional loan amount to fulfill your requirement.
• No specification about the end purpose of the loan amount.
• Minimum/Hassle free Documentation.
• Convenience of doorstep service.

There are several steps in the Car refinance process. Here are the steps in brief:

• Application form & Document submission
• Cibil report check
• Residence verfication
• Office
• Eligibility calculation
• Valuation
• Personal Discussion
• Credit decision
• Offer Letter
• Signing of agreements and submitting post-dated cheques
• Lean mark on RC book
• Disbursement

SELF EMPLOYED PROFESSIONAL / INDIVIDUAL

• An Indian Resident
• You should be in business for a minimum of 3 years.
• You should be self employed Minimum 24 to maximum 65 years of age.
• Your current place of residence should be occupied for a minimum of 3 years in the city.
• You should have residence or office owned
• Your car should not be more than 10years old

PARTNERSHIP FIRM / PRIVATE LIMITED COMPANY

• An Indian Resident
• You should be in business for a minimum of 3 years.
• You should be self employed Minimum 24 to maximum 65 years of age.
• Your current place of residence should be occupied for a minimum of 3 years in the city.
• You should have residence or office owned
• Your car should not be more than 10years old

Salaried

• You should 3 years work Experience.
• You min age should be 24
• Your maximum age should be 58/60 at the time of closer of the loan.
• You should have Minimum Rs 20000/- Net Salary
• You should have Own residence
• Your car should not be more than 10years old

To qualify for a Car Refinance, most of the lending institutions in India require you to be:

Documents	Salaried	Self Employed Properitorship Firm	Self Employed Partnership Firm	Self Employed Pvt Ltd / Ltd
Application Form With Photograph Duly Signed
Clear Pancard Copy, (Applicant & Co-Applicant)
Latest Residence proof (Applicant & Co-Applicant)
Latest Office Proof (Applicant & Co-Applicant)
Last 3 Months Salary-Slips
Last 12 Months Bank Statements
Form 16 / Income Tax Returns Of Last 3 Yrs
All Loan Sanction Letter If Any
RC Book Copy
Insurance Copy
Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , )
GST Certificate & GST 3B Copy last 1yrs
Last 3 Years ITR with CA Certified / Audited Balance Sheet And Profit & Loss Account
MOA /AOA
Partnership Deed
Company Pancard Clear Copy
Shareholding Pattern On Letterhead
Sundry Debtor & Creditor List Last 1year

Equated Monthly Installment - EMI for short - is the amount payable every month to the bank or any other financial institution until the loan amount is fully paid off. It consists of the interest on loan as well as part of the principal amount to be repaid. The sum of principal amount and interest is divided by the tenure, i.e., number of months, in which the loan has to be repaid. This amount has to be paid monthly. The interest component of the EMI would be larger during the initial months and gradually reduce with each payment. The exact percentage allocated towards payment of the principal depends on the interest rate. Even though your monthly EMI payment won't change, the proportion of principal and interest components will change with time. With each successive payment, you'll pay more towards the principal and less in interest.

In EMI calculator you will be able to analysis the total output of interest you will be paying. In this mechanism you will be able to know the total EMI paid and the interest payable. In EMI Calculator you can also come to know how much interest you will be paying throughout the tenure. To work effectively on EMI Calculator you must be aware of the Loan Amount and the rate of interest. In EMI calculator you will come to know the total interest paid at the end of the Loan tenure.

If you are not satisfied with the calculator output please call us for a personalized solution for your requirement.

Important information

All applications for credit are subject to Banks normal credit approval criteria. Terms and conditions are available on application of every bank in which loan will be applied.

This is an estimate and it is provided for illustrative purposes only and is based on the accuracy of information provided. It does not constitute a quote. To apply for a loan you must complete an application.

The repayment amount and total interest payable excludes Processing fees and Mortgage Insurance / Life Insurance.

If a Variable Rate Loan is selected, the interest rate will be subject to market change throughout the term of the Loan.

Results are based on amortised scheduled repayments and, once any discount or fixed rate period expires, the current variable rate or the variable rate is applied for the remainder of the loan term (unless another fixed rate period is taken).

Creative Finserve will not store the information provided in this calculator.