AU Small Finance Bank Used Car Loan

AU used car loan is one of the vehicle loans offered by AU Small Finance bank. The AU bank second hand car loan can be availed for the purchase of hatchbacks, entry level  sedans, premium sedans and SUVs/MUVs that you desire. The AU second hand car loan is offered at competitive interest rates that start from 14% and you can avail up to 90% LTV on this type of AU loan. Let us explore this section and know more about the AU bank pre-owned car loan. 

AU Bank Used Car Loan Interest Rates & Charges

AU Second Hand Car Loan: Features and Benefits

1. Loan for Second hand Car : AU bank second hand car loan is an excellent way to buy your desired car without biting your wallet. The bank brings pre-owned car loans for an array of models such as entry level cars, sedans , SUVs etc. When you want to save your money and get your hands on your favorite car, the AU bank used car loan is one of the best options for you. 

2. Loan Amount : The loan amount that is offered to you by the bank is determined by the type of second hand car you are going to buy. The model and age of your car are the important factors that determine the loan amount you can avail. Besides that, your eligibility and income are also male important factors that help decide the loan amount. AU bank offers up to 90% LTV varying from customer to customer. 

3. Interest Charges : The AU bank pre owned car loan interest rates are affected by multiple factors. Factors like your credit history, your income, the age and model of car you want to buy etc. help determine the rate of interest on your AU bank used car loan. The AU Small Finance bank second hand car loan interest rates start at 14% and range up to 23% . 

4. Loan Repayment Tenure : The AU bank used car loan repayment tenure ranges from 12 months to 5 years.

5. Prepayment : The bank brings you the option to prepay your AU used car loan, if you have sufficient funds, and foreclose the loan. Prepayment of your AU second hand car loan will help you avoid paying interest charges. However, the bank demands prepayment/foreclosure charges when you prepay your loan. If you prepay the used car loan amount within 12 months then the bank charges 5% of the principal outstanding and 3% of the principal outstanding on making prepayments after 12 months.

Eligibility AU Small Finance Bank Used Car Loan 

You need to make sure you are eligible for AU finance used car loans before you apply for it. Not meeting eligibility requirements can get your used car loan application rejected by the bank. Your eligibility for AU car loan is determined by multiple factors such as your age, employment status, income etc.

Here is the eligibility criteria for AU bank used car loan:

• The applicant should be an Indian citizen.
• The minimum age of an applicant should be 18 years and the maximum age of the applicant should not be more than 65.
• The applicant should have a co-applicant. Family members such as parents or the spouse can become co-applicant for the AU Small Finance used car loan. 
• The applicant should have residence stability. 
• The applicant should have a steady job or business.
• The applicant should have a convincing credit history. 

Documents Required for AU Small Finance Bank Used Car Loan 

These are the documents that are required for AU bank used car loan application:

 Other Types of Loan Offered By the Banks

How to Apply for AU Small Finance Used Car Loan

Here is how to apply for AU Small Finance Second hand car loan:

Apply For AU Bank Used Car Loan Offline

You can visit the nearest branch of AU Small Finance bank to apply for the used car loan. The bank official will assist you through the process of loan application. You should carry all the required documents that you have to submit with the used car loan application. 

You can also contact the AU Small Finance bank customer service and enquire about the used car loan. 

Apply For AU Bank Used Car Loan Online

You can opt for the online method to apply for the AU Small Finance bank used car loan. In order to apply online, you need to follow the steps mentioned below:

• Visit the official website of AU Small Finance Bank.
• Now, click on the “Retail Loan” menu at the top. 
• After that, hit the “Vehicle Loan” menu and then, click on the “Car Loan” option. 
• Now, go to the “Personal Car Loan” option. 
• Click on the “Used Car Loan” option.
• Once you are on the used car loan page, you will find an application form which you have to enter the required details in. 
• Hit the “Apply Now” button. 

AU Bank Used Vehicle Loan Customer Care

• Customer Care Number - 1800 1200 1200, 1800 26 66677
• Customer Care Mail -  [email protected]

FAQs On AU Small Bank Used Car Loan

Q.1 How can I track my AU used car loan application status?

You can constant the customer service of AU bank and enquire about the status of AU used car loan application. You can also track the status of your AU bank second had car loan application online. To do that, you need to go to the official website of AU Small Finance Bank. Here are the steps that you can follow to use the application tracker:

• Go to the official website of AU Small Finance bank.
• Click on the “Retail Loans” dropdown menu.
• Now, hit the “Track Your Application” from the menu.
• Enter the required information.

Q.2 How to calculate the AU used car loan EMI?

You can use the EMI calculator available on the website of AU Small Finance bank to check the EMI of your second hand car loan. 

Q.3 Do I need to provide a guarantor to avail the AU second hand car loan?

Yes. The bank requires you to mention a guarantor in the second hand car loan application. You can mention your parents, spouse or children as your second hand car loan guarantor.