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With inflation playing peek-a-boo with our lives, people are opting for a used car loan in Kanpur increasingly. Not only because used cars come in a premium model on a budget but also because they have a good valuation and can be bought with the help of flexible payment options. If one is looking to buy a higher-segment car, then a previously-owned alternative can be great. Moreover, old car finance in Kanpur comes with an attractive interest rate and their repayment can be extended up to seven years. Some banks, car loan agent in Kanpur, and NBFCs offer up to 100 percent of the car’s value. 
While there is an array of choices when it comes to going for an old car loan finance in Kanpur, picking the best of the lot can become a daunting task. But when Bhumi Finance is here, why stress, simply cheer! Wish to know more? Scroll down:
 

How to select the best used car loan bank in Kanpur?


There are a number of factors that should be considered before you finalize the lender for your used commercial vehicle loan in Kanpur. Some of them are enlisted below:
A decent interest rate.
The model of the car you are buying.
The age of the vehicle you wish to buy.
Transfer of ownership.
Documentation involved.
On the basis of these factors, one can easily pick a good lender for their old car finance in Kanpur. 
 

The best lender for your old car finance in Kanpur

Since its very inception, Bhumi Finance has been enjoying the reputation for providing the most lucrative second-hand car loans. But what makes borrowers opt for BHumi Finance? Consider the following.

Rate of interest

Thanks to an increased level of risk associated with the secondhand car, such cars often come at a higher rate of interest. New automobiles often come with a manufacturer’s guarantee which is applicable to the engine and other parts of the car. At Bhumi Finance, we extend such loans at a decent interest rate so that everybody gets to be behind the wheels.

The age of the car

The age of the car also matters. Usually, the average lifespan of the car stands at 15 years. In the case of second-hand cars, the age might differ and this can impact the time period the car stays in your garage. The tenure of the loan won’t have any impact on the age of the car. So, if one is considering buying a six-year-old (second-hand) car, then the loan tenure will not be more than three-four years. 

Registration Certificate (RC)

It is to be made sure that the registration certificate doesn’t hold any hypothecation to any bank, NBFC, or any lending institution for that matter. This is important to remove the details of your car from the loan that was taken by the previous owner. The owners who are planning to resale are recommended to get a new RC from their nearby regional transport office (RTO) before putting up the car for sale. Best part is that Bhumi Finance takes the entire responsibility of getting the ownership transferred.
 

Go through the entire documentation thoroughly

Go through the papers including RC, insurance, etc. Make sure that you can read the engine number as well as the chassis number. Match it with the number given on RC. Also, make sure that the car doesn’t have any accident scratches or any service issues for that matter. 

Apply now for an old car finance in Kanpur at https://bhumifinance.com/.