Vehicle Loan

Vehicle Loans:

A short-term loan in which the borrower’s vehicle title is used as collateral. The borrower must be the lien holder. If the loan is not repaid, the lender can take ownership of the car and sell it to recoup the loan amount.

The list of the documents required from the customer:- (All copies of documents should be self-attested by the customer)

Step – 1 Loan Amount Approval

Registration Certificate, Insurance, Vehicle Images

Step-2 Customer Eligibility Approvals

Vehicle Valuation, CIBIL, Time Period, IPR, PAN Card, Driving License

Ration Card, Aadhar Card, Gas Bill, Power Bill.

Step-3 Vehicle Papers Requirements

RC, Insurance, Tax, Fitness Certificate, Permit, NOC or Form 35, Sale Letter, Forms 28, 29, 30 , Chassie Print, Vehicle Photos, Payment Request Letter, Aadhar/Pan, Cheque Xerox With Name, Settlement Letter & RTS Details.

Step- 4 Hirer Documents Checking & Approval

Property Tax Proof, EC / Sale Agreement, Pan Card, Aadhar Card, Driving Licence, Gas Bill with relation, Power Bill, Bank Statement, Cheques 6 Nos, Passport Size Photos, House Photos

Step-5 Guarantor Documents Approval

Property Tax Proof, EC/Sale Agreement, RC Xerox, Pan card, Aadhar Card, Driving Licence, Gas Bill With Relation, Power Bill Bank Statement, Passport Size 3, House Photos.

Post-sanction or Pre-disbursement charges from Customer:

Vehicle Valuation charges to be intimated

Processing charges on loan amount + GST

Insurance for Loan Receiver Person and Vehicle is a must.

Stamping Charges