Which bank is best for used car loan?
Which bank is best for used car loan?
Most banks and NBFCs provide used car loans….Top Lenders Offering Pre-Owned Car Loans.
| Lender | Interest Rate | Repayment Tenure |
|---|---|---|
| HDFC Bank | 13.75% – 16.00% (Rack Interest) | 7 years |
| Punjab National Bank | Starts from 8.30% | 5 years |
| Axis Bank | 14.25% – 16.25% | 5 years |
| Kotak Mahindra Bank | Contact the bank | 5 years |
How do you get a car loan from a credit union?
There are generally four steps when you get your auto loan from a credit union:
- Apply For A Loan. You have multiple options when you apply for a credit union auto loan, being either applying online or in person at a branch.
- Provide Proof Of Insurance.
- Show Proof Of Income.
- Finalize Your Loan.
Should I get an auto loan from a credit union?
Credit unions may actually be the best source for an auto loan. In fact, they may be so good that it’s worth opening up an account with one, even if only to take advantage of the loan. Here are a few reasons why this is true.
What do credit unions offer auto loans?
Best Car Loan Rates From Credit Unions
What is the interest rate on an used car loan?
The interest rate on your auto loan will depend largely on your credit score, and whether you’re buying a new or used vehicle. The average APR for a borrower with good credit (a score between 661 and 780) was 4.96% for a new car purchase, and 6.36% for a used car purchase, according to Experian data from 2019.
What is the best car loan?
Best auto loan overall: Bank of America