Banks Providing Second Hand Car Loans
While some banks have loan options specifically for second hand car purchase, some banks provide financing for both 0 kilometers and second hand car purchases under the name of direct car loan. Vehicle loan calculation can be done easily with the calculation tools available on the banks’ official websites. You can calculate according to the loan amount and number of installments you want from the Vehicle Loan Calculation page on our site.
How to Apply in 2nd Hand Car Loan, Which Documents are Required?
After paying attention to all the points that need attention and determining the second hand vehicle to buy, you should apply to the bank of the relevant bank with the necessary documents. If you are going to get a vehicle loan from a bank you work with, you can apply online for pre-approval via the internet or mobile branch. The documents you need to provide in your second hand car loan application can be listed as follows;
- Original and photocopy of the identity card
- If the applicant is a self-employed person, a document regarding the professional organization to which he / she is a member
- Proof of income
- Residence certificate or water, electricity, natural gas etc. for the last 2 months. one of the invoices
- Photocopy of the license of the vehicle purchased or to be purchased
- If the vehicle is purchased, a notarized sales contract (Application must be made within 15 days from the date of contract.)
How Much Down Payment Should Be Paid in Car Loan?
In car loans, some banks can give loans to the entire vehicle with their campaigns. But in general, upper and lower credit limits are determined according to the vehicle’s car insurance value. If you are wondering what percentage of second hand car loan is given; 70% loan amount up to 100 thousand dollars with a motor insurance value can be given. In other words, at least 30% down payment must be paid for second-hand vehicle purchases.
You can calculate according to the loan amount and number of installments you want from the Vehicle Loan Calculation page on our site. You can calculate according to the bank you want from our banks page. There will be a second hand car loan calculation on our site soon.