Car Refinance

Car Refinance

Offer 1
Loan Amount
  • 1 to 10 Lacs
  • above 10 lacs
Rate Of Interest
  • 15.00%
  • 14.00%
Processing Fees
  • 1.00%
  • 1.00%

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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 Car Refinance Car Refinance Car Refinance Car Refinance
Clear Pancard Copy, (Applicant & Co-Applicant) Car Refinance Car Refinance Car Refinance Car Refinance
Latest Residence proof (Applicant & Co-Applicant) Car Refinance Car Refinance Car Refinance Car Refinance
Latest Office Proof (Applicant & Co-Applicant) Car Refinance Car Refinance Car Refinance Car Refinance
Last 3 Months Salary-Slips Car Refinance Car Refinance Car Refinance Car Refinance
Last 12 Months Bank Statements Car Refinance Car Refinance Car Refinance Car Refinance
Form 16 / Income Tax Returns Of Last 3 Yrs Car Refinance Car Refinance Car Refinance Car Refinance
All Loan Sanction Letter If Any Car Refinance Car Refinance Car Refinance Car Refinance
RC Book Copy Car Refinance Car Refinance Car Refinance Car Refinance
Insurance Copy Car Refinance Car Refinance Car Refinance Car Refinance
Business Profile Car Refinance Car Refinance Car Refinance Car Refinance
Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , ) Car Refinance Car Refinance Car Refinance Car Refinance
Last 3 Years Income Tax Returns With Computation Of Income Car Refinance Car Refinance Car Refinance Car Refinance
Last 3 Years CA Certified / Audited Balance Sheet And Profit & Loss Account Car Refinance Car Refinance Car Refinance Car Refinance
MOA /AOA Car Refinance Car Refinance Car Refinance Car Refinance
Partnership Deed Car Refinance Car Refinance Car Refinance Car Refinance
Company Pancard Clear Copy Car Refinance Car Refinance Car Refinance Car Refinance
Shareholding Pattern On Letterhead Car Refinance Car Refinance Car Refinance Car Refinance
Sundry Debtor & Creditor List Last 2year Car Refinance Car Refinance Car Refinance Car Refinance

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.

When can I apply for a Car refinance?
Whenever you are in need of emergency funds u can go for car refinance.
What are Car refinance loan requirements and conditions?

• Collateral

• Maximum vehicle age 10 years

• No commercial vehicles

• No vehicles used for commercial/business purposes

• Vehicles with greater than 100,000 miles are not eligible for financing

• No modified vehicles or non-standard manufacturer vehicles will be financed

• No salvage, rebuilt or branded title vehicles

• No gray market vehicles

• No motorcycles

Who are eligible for a car refinance ?

The general factors taken into account while determining the car Refinance are listed below:

1. Age (Min. 21 Year )

2. Maximum 58 age at time of closure of the loan for the salaried

3. Maximum 65 age at time of closure of the loan for the self empolyed

4. Total work / business Experience 3 yrs

5. Indian resident

Who can avail a car refinance ?

• Self Employed Individuals/Professionals

• Salaried

• Proprietorship Firms

• Partnership Firms

• Private Limited Companies

What are the process in availing a car refinance?

• Application

• Documentation

• Processing

• Valuation

• Personal discussion

• Sanctioning of the Loan

• Disbursement

The Process may vary from bank to bank in which they will do your verification of documents, residence, office, and a cibil check

What are the loan tenure options for car refinance?
You can repay your loan over a period of 12 to 36 months.
What are the documents required for applying for a car refinance?

For Salaried:

1. Application form with photograph

2. Identity and Address Proof

4. Form 16 / appointment letter

5. Rc book copy

6. Insurance copy

7. Bank Statements (Last 12 months)

For Self-Employed:

1. Application form with photograph

2. Identity and Address Proof

3. Latest Salary Slips

4. Form 16 / appointment letter

5. Rc book copy

6. Insurance copy

7. Bank Statements (Last 12 months)

Please refer the complete list of documents on our website in the document section of Car Refinance

How can I repay my loan?

The repayment of loan is done through Equated Monthly Installments. It can be paid through Post Dated Cheques (PDC) or Electronic Clearance System (ECS)

Can I pre-pay my loan?

The Car refinance can be pre-paid along with the pre-payment charges. (Varies bank to bank)

How much time does it take for the disbursement of the loan?

The processing of the loans usually takes approx 8 working days after all the documents are submitted.

Should I compare Car Refinance online?

Comparing Car Refinance online depends on many factors such as your salary/ income, company in which you are working, your obligation (existing loan) etc,. In online approach you will get general comparisons while you can get a personalize solution from Creative Finserve, which will help you with the best rate of interest and services for Car Refinance.

Should I apply Car Refinance online?

There is no process for applying online Car Refinance unless and until you have a relationship with the same bank. Mandatorily you need to submit relevant documents and sign the application form to complete the formalities. Creative Finserve give you a personalized solution for Car Refinance, so why to confuse yourself with online approach if you can get better rate of interest and maximum eligibility through Creative Finserve.

Who all can apply Car Refinance online?

Customers having online banking can approach their respective banks for Car Refinance through net banking and get information about Car Refinance. Appling online Car Refinance will give you information of your bank, and if you apply through us you will get information about other banks for better rate of interest, foreclosure charges, tenure and processing fees.

What are the drawbacks on applying for Car Refinance online?

Appling online Car Refinance will give you information about particular bank. And if you apply through us our professionals will get exciting offers from other banks for better rate of interest, foreclosure charges, tenure and processing fees.

What is Car Refinance eligibility calculator?

Car Refinance eligibility calculator is a mechanism where you can calculate your Car Refinance eligibility by sharing your information such as your salary/income. This loan eligibility calculator cannot get you the exact loan amount so we recommend you to get in touch with our professional team to serve you better.

How to get best rate of interest for Car Refinance?

Rather than hunting in the market or approaching unprofessional consultants for better offers, give your few details and upload your few documents and get a personalized solution for your Car Refinance for better rate of interest in few minutes from our professional team.

How will I get best rate of interest for Car Refinance?

Since Creative Finserve has immense experience and tied up with all multinational and private banks, we would be able to guide you and give you the best deal available in Car Refinance

What is Car Refinance EMI calculator?

Car Refinance emi calculator is a process where you will be able to come to know the exact Car Refinance emi (installments) which includes principal and interest component according to your requirements.

How can I get personalized solution through Creative Finserve for my Car Refinance?

We professional at Creative Finserve puts our best effort to give you a complete personalized solution. We take the pain of coordinating with various banks for you to give the best offer and service available in Car Refinance.

How to choose the right bank for my Car Refinance?

Choosing a right bank for Car Refinance is a cumbersome process, Creative Finserve guides you properly according to your requirements and gives you a personalize solution for your Car Refinance.

How I will come to know whether my Car Refinance is sanctioned or rejected?

Once your Car Refinance is sanctioned or rejected you will get a sms alert or call from the bank or and if you have applied through us we will coordinate with the respective banks and inform you.

What is preapproved Car Refinance?

If you are a account holder or a credit card holder with multinational or private banks with good track record and healthy transactions banks might offer you a preapproved Car Refinance. Sometimes preapproved loans are costlier affair because banks offer you at higher rate of interest, so we recommend you to call us or upload your documents for personalized solution to get best offers on Car Refinance available in the market.

Is balance transfer of Car Refinance suggested?

It depends upon the current rate of interest of your existing Car Refinance as against the rate of interest available in the market. We recommend you to compare both the offers in our loan comparison or else call us to get a personalized solution for your Car Refinance.

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