Car Refinance

Car Refinance Features

Features and Benefits of our Car Refinance

Lower Interest Rates: People Grow Financial Solution offers competitive interest rates for car refinancing, potentially leading to reduced monthly payments and overall interest costs
Extended Loan Tenure: Borrowers can benefit from extended loan tenures when refinancing with People Grow Financial Solution, providing flexibility and potentially lowering the monthly repayment burden.
Quick and Efficient Process: People Grow Financial Solution ensures a streamlined and efficient refinancing process, with quick approval and disbursement of funds, allowing borrowers to take advantage of favourable market conditions promptly.
Improved Cash Flow: Refinancing may lead to improved cash flow, especially if the new loan terms result in lower monthly payments, providing financial relief for borrowers.
Access to Additional Funds: Car refinancing with Shivay Financial Consultant may allow borrowers to access additional funds beyond the existing loan amount, offering financial flexibility for other needs.
Customised Loan Solutions: People Grow Financial Solution provides personalised solutions, tailoring the refinancing terms to meet individual borrower needs and financial goals.
Potential Interest Savings: Refinancing can lead to potential interest savings over the life of the loan, especially if the borrower's creditworthiness has improved since the original car loan was obtained.

Eligibility Conditions for Car Refinance :

1. Existing Car Loan: Applicants should have an existing car loan that they intend to refinance. The original loan should be in good standing with a history of regular payments.

2. Car Age and Mileage: The car to be refinanced should typically be within a certain age and mileage limit, as specified by People Grow Financial Solution. This criteria can vary based on the lender's policies.

3. Creditworthiness: Applicants must have a satisfactory credit history and credit score. A higher credit score enhances the chances of approval and may lead to more favourable refinancing terms.

4. Income Stability: Demonstrating a stable source of income is crucial. Lenders may require proof of employment, income statements, or tax returns to assess the borrower's ability to meet the new loan terms.

5. Equity in the Vehicle: There should be equity in the car, meaning that the current market value of the vehicle should be higher than the remaining balance on the existing car loan.

6. Loan-to-Value Ratio: The loan-to-value (LTV) ratio, which compares the loan amount to the car's current value, should fall within the acceptable range set by Shivay Financial Consultant. This helps ensure that the refinanced loan is adequately secured.

Documents Required for Car Refinance

The following documents are required in order to apply for a Car Refinance from People Grow Financial Solution:

Photo Identity Proof (Any one):

PAN Card
Aadhar Card
Passport
Latest Passport Size Photo
Voter’s ID

Address Proof (Any one):

Aadhar Card
Utility Bill (telephone, electricity, water, gas) – less than 2 months old
Passport
Driving Licence
Current and Permanent Address Proof

Proof of Income:

For Salaried Professionals:

Salary slips (Last 3 months)
Form 16 of Latest 2 years
Last 6 Months Saving Account Bank statement
If the current employment of the applicant is less than one year then the current Appointment letter and the last company’s relieving letter will be required.

For Self-Employed Professionals / non-professional:

ITR Return for the last 3 years along with income of computation, Financial Report, Audit Report, P&L Statement and Balance Sheet.
GST Registration
GST Return of Last 2 years.
Current & savings Account Bank Statement of past 6 months.
26AS of the latest 2 years

For Partnership Firm:

Partnership Deed
Shareholder Certificate
Director’s List and Director KYC
Firm’s PAN Card
26AS of the latest 2 years

For Private Limited Company:

MOA
AOA
LOD
LOS
BRB
Director’s KYC
Company's PAN Card
26AS of the latest 2 years

Fees and Charges for Car Refinance

The fees and charges of Car Refinance usually vary from lender to lender and from case to case. Therefore mentioned table will give you a fair idea of the fees and charges related to Car Refinance:

Particulars	Charges
Loan Processing Fees	Upto 4% of the total loan amount
Loan Cancellation	Usually around 3000
Stamp Duty Charges	Payable as per the state lawPayable as per the state law
Rate of Interest	8.00% per annum onwards
Penal Charges	2% on the delayed payment

Personal Loan Reviews

Anjali Sharma

Marketing Executive

The personal loan process was incredibly smooth. The interest rates were competitive, and I received the funds quickly without hassle.

Rahul Kumar

Software Engineer

Very professional service. I appreciated the transparency in charges and the timely communication throughout the loan approval.

Pooja Nair

HR Manager

Hassle-free documentation and quick disbursal. I’d recommend this to anyone looking for a personal loan with minimal delays.

FAQs

We Are Available In Cities

Ludhiana

Raipur

Hazira

Vadodara

Gujarat

Nashik

Valsad

Mumbai

Hyderabad

Jalandhar

Indore

Mangalore

Daman

Umbergaon

Jodhpur

Pune

Udvada

Ahmedabad

Vikramgad

Surat

Bhopal

Jaipur

Silvassa

Kevadiya

Kolkata

Vapi

Bharuch

Saputara

Nagpur

Varanasi

Delhi

Diu

Bangalore

Lucknow