is there possible to get loan for buying used car ?

gordonhll
By gordonhll

is there possible to get loan for buying used car ?

By gordonhll• 9 Sep 2013 14:59
gordonhll

thanks buddies

By tazzz78• 9 Sep 2013 08:37
Rating: 5/5
tazzz78

You can buy from any dealer (also Salwa road) as long as the car is 2010 and newer. It is quite difficult to get it for private car purchase, as far as I know you need to approach a dealer and ask them to put it thru their dealership. They will charge a fee.

By tazzz78• 9 Sep 2013 08:34
Rating: 5/5
tazzz78

Also they normally require 20% deposit.

By msmfashan• 9 Sep 2013 08:34
Rating: 5/5
msmfashan

yes it's possible but you have to go to the nissan, mitsubishi, toyota, honda etc to the car showroom and ask them used car. they will have 1 to 2 years old car which you can buy with loan

By tazzz78• 9 Sep 2013 08:33
Rating: 5/5
tazzz78

Yes it is. Most banks only issue loans for cars that are under 4 years old and from my experience they take the year of production registration into account. So now you can only get a car that was made in 2010 or newer.

It is cheaper to get the car loan as percentages are quite low often under 3% compared to around 6 for personal loans. You need a letter from your sponsor - it is called a standard letter.

Hope it helps

By Molten Metal• 9 Sep 2013 07:57
Rating: 4/5
Molten Metal

Some persons take personal loan and buy the used car with that money .......

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