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Check Eligibility to Apply for Instant Loans, Credit Cards | Doloans
Car Refinance
Apply for Car Refinance
EMI Calculator :
Car Refinance Features
- Loan of up to ₹ 47 Lakh
- 3 Unique Variants
- Tenure of up to 72 months
- Minimal Documentation
Features and Benefits of our Car Refinance
Car Refinance Eligibility and Documents
Read on to know the criteria required to apply for our Car Refinance.
Car Refinance Eligibility
For salaried individuals :
- Individuals who are at least 21 years old at the time of loan application and no older than 60 at the end of the loan tenure
- Individuals who have worked for at least two years, with at least one year with the current employer
- Individuals with a minimum earning of Rs. 2,50,000 per year, including the income of the spouse/co-applicant.
- Individuals who own a car and have paid at least 12 EMIs if there is an active loan on their car.
For Self Employed Individuals :
- Individuals who are at least 25 years old at the time of application and no older than 60 at the end of the loan tenure.
- Those who have been in business for at least two years.
- Should earn at least Rs. 2,50,000 per year
- Individuals who own a car and have paid at least 12 EMIs if there is an active loan on their car.
Car Refinance - Checklist to Follow While Applying for it :
- Assess Refinance Purpose
- Check Current Loan Details
- Review Credit Score
- Research Lenders
- Calculate Potential Savings
- Gather Necessary Documents
- Compare Interest Rates
- Evaluate New Loan Terms
- Check for Fees
Documents Required to Apply for Car Refinance
EMI Calculator for Car refinance
An EMI calculator is a useful tool that can help you estimate the monthly installments you will have to pay towards your Car refinance within a specific period. By using the RU refinances EMI calculator, you can calculate your EMI beforehand, which can help you plan your finances better. Additionally, you can check your eligibility and compare different refinance options using Rurefinances Car refinance calculator.
Fees and Charges for Car Refinance
The fees and charges of car refinance usually vary from lender to lender and from case to case. The aforementioned table will give you a fair idea of the fees and charges related to car refinance :
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Particulars
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Charges
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Loan Processing Fees
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0.5% to 4% of Loan Amount
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Loan Cancellation
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Usually around Rs 3,000
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Stamp Duty Charges
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As per actuals
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Legal Fees
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As per actuals
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Penal Charges
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Usually @ 2% per month; 24% p.a.
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EMI / Cheque Bonus
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Around Rs 400 per bounce
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Other fees and charges that lenders may levy on your personal loan include documentation charges, verification charges, duplicate statement charges, NOC certificate charges and swap.
Car Refinance Reviews
I wanted to buy a car to travel daily from office to work but was not having enough money to make the down payment due to less savings but thanks to DOLOANS they got me a car loan for 90% of the car value with the best interest rate going on in the market.
Shivansh Bhagde
I had taken a personal loan with the help of DOLOANS by which I was very impressed. Now I was planning to buy a car from sometime so as it was finalised, I very much knew whom to contact for applying my loan as they are the experts in the loan industry and be it any loan they get the work done for you.
Shreyansh Bakliwal
During my business loan I was not aware of DOLOANS and hence a normal part time agent handled all my loan procedure. He made that procedure so much complicated that I got fedup dealing with him and also he charged me a hefty amount for getting the loan disbursed, but at the time of my car loan I read about DOLOANS and approached them. The loan not only got disbursed in a 4 days but also I wasn’t charged a penny from them.
Ronit Rane
Getting a used car loan can be daunting task because of the never-ending documents required by the lender but thanks to the checklist provided by DOLOANS on their website I was able to arrange all the documents so quickly and submit it to the lender.
Disha Shinde
FAQs on Car Refinancing
What's car refinancing?
Car refinancing means getting a new loan to replace your existing car loan.
Why would I refinance my car?
To get better loan terms, like lower interest rates or monthly payments.
Can I refinance any type of car?
Generally, yes, but some lenders might have restrictions.
How do I know if I should refinance?
If your financial situation has improved or if you find better loan options.
What's equity and why does it matter?
Equity is the difference between your car’s value and what you owe. Positive equity is important for refinancing.
Does refinancing affect my credit score?
Applying for refinancing might have a slight impact on your credit score.
Can I refinance if my credit score has improved?
Yes, a better credit score can help you get a lower interest rate.
Are there fees for refinancing?
Yes, there might be application or processing fees.
Can I choose a shorter loan term when I refinance?
Yes, you can often choose a term that suits you.
How do I start the refinancing process?
You apply with a new lender, and if approved, they pay off your old loan and you start with them.