Why Should I Apply For A Used Car Loan On Muthoot FinCorp ONE?

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Thinking to start on the journey of purchasing a pre-loved vehicle can be a thrilling experience. However, when it comes to financing, you may wonder, "Why should I take a Used Car loan?"

So, let us dive into the world of Used Car loans and discover the advantages that make them an appealing choice for many.

Benefits of Getting a Used Car Loan:

  • Flexible Tenure: One of the key advantages of opting for a Used Car loan is the flexibility in repayment tenure. A Used Car loan allows you to choose a repayment period that suits your financial situation. This flexibility empowers you to manage your budget more effectively, making the journey towards vehicle ownership smoother.

  • Low Interest Rates: Used Car loans often come with lower interest rates compared to new car loans. This means that not only can you save money on the overall cost of the loan, but your monthly payments will be more manageable. Lower interest rates translate into more affordable loans, making your dream car a reality without burning a hole in your pocket.

  • Minimal Documentation: Used Car loans stand out because they typically require minimal documentation. This streamlined process eases the burden on borrowers, saving time and effort. With less paperwork, you can focus on enjoying the journey of acquiring your chosen vehicle rather than getting bogged down by bureaucracy.

  • Easy Approval: Used Car loans are designed with accessibility in mind. The approval process is often quicker and more straightforward compared to other types of loans. This is particularly beneficial for individuals who need a speedy approval to seize an attractive deal on a pre-owned vehicle. The ease of approval ensures that you can hit the road sooner rather than later.

  • Hassle-Free Loans - Quick and Convenient Processing: One of the biggest perks of opting for a Used Car loan is the hassle-free and quick processing. We understand the urgency and convenience needed in securing a loan. The application process is simplified through our user-friendly app, allowing you to apply for a Used Car loan with just a few clicks.

How To Apply For a Used Car Loan on Muthoot FinCorp ONE:

  • Step 1: Download the App: Start by downloading the Muthoot FinCorp ONE app

  • Step 2: Navigate to the Loan Section: Once you are on the Home Page, locate the Used-Car Loan card and click on it. You will be redirected to the Used-Car Loan landing page.

  • Step 3: Submit Loan Amount: On the landing page, find the 'Used Car Loans Made Easy' card. Here, fill in the required loan amount and hit submit.

  • Step 4: Await a Call: After submitting your details, our customer support representatives will give you a call to guide you through the next steps.

Repayment Process Using Muthoot FinCorp ONE: If you are wondering how to repay your Used Car loan EMIs through the app, follow these steps:

  • Step 1: Log in to the app: Use your registered mobile number to log in to the Muthoot FinCorp ONE app.

  • Step 2: Navigate to Payments: Click on the Payments tab at the bottom of the home screen.

  • Step 3: Select Vehicle Loans: Under the Vehicle Loans section, choose the Two/Four-Wheeler Loans you wish to pay.

  • Step 4: Make Payments: Select the desired payment amount, including EMIs and additional charges, if any. The app also provides options for foreclosure and checking the amortisation schedule.

The decision to take a Used Car loan opens a world of benefits that make the journey towards vehicle ownership more accessible and enjoyable. From flexible repayment options and lower interest rates to minimal documentation and easy approval, the perks of opting for a Used Car loan extend beyond financial considerations.

So, if you find yourself wondering, ‘Why should I take a Used Car loan?’ - the answer lies in the freedom, convenience, and affordability it brings to your road-trip to owning a pre-loved vehicle.

About Muthoot FinCorp ONE

Muthoot FinCorp ONE is an all-in-one digital financial platform that makes getting an MSME & a Gold Loan, investing in Digital gold & NCDs, making payments & remittances, buying insurance & exchanging forex, simple and convenient.

As an SBU of Muthoot FinCorp Limited, Muthoot FinCorp ONE is backed by a legacy stretching back over 135 years, and the trust of more than 1 crore customers and is building a holistic financial ecosystem using the latest digital products for lending, investing, protection and payments.

Muthoot FinCorp ONE continues to uphold the values of the parent, the Muthoot Pappachan Group (Muthoot Blue) by providing its customers with easily accessible services, replete with unmistakable quality. The Muthoot Pappachan Group is among India’s most reputed names in the financial services industry, with customers in diverse segments like Automotive industry, Financial Services, Hospitality, Alternate Energy, Real Estate, and Precious Metals.

So what are you waiting for? Head to the Play Store and download the Muthoot FinCorp ONE app. You can also visit the website today to know more.

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