All You Need to Know About Skoda Car Finance Services
Car finance can sometimes seem like a confusing topic. But before you sign your name on any contract, you must understand the car finance definition, how it works, and how you should approach this type of loan. This blog will look at these topics in more detail and how they can help you when you go picking your next Skoda car and finance it with accurate guidelines.
Skoda car finance services are solely driven to assist with Skoda cars. Skoda provides its users with an 'EasyBuy' program that makes financial services more accessible to its users. It provides options to avail of up to 100% finance and up to 40% lower EMIs for 3 years. EasyBuy is one such program that enhances the customer experience by providing them hassle-free ownership experience.
Skoda has streamlined a series of processes that will lead to the completion of finance applications in an authorized manner. However, the process is extremely simple and doesn't require any complications. The process is designed in such a way that it sanctions all the necessary formalities and brings you to the final process chronologically. Here's how the Application process works:
Select the desired car that you wish to choose for financing
Check your eligibility for Skoda Car Finance
Follow up with the documentation process if you are eligible to get finance.
Submit your application with the required set of documents
Documents are then verified by the authorities and approved if arranged in a proper manner
The finance process is then finalized within 48 hours
The company requires car registration, insurance policy, and invoice bill before handing over the vehicle.
The company verifies the profile of the applicant based on a few criteria. The person can either be a salaried individual or a self-employed individual. The eligibility criteria vary for both individuals:
Eligibility for salaried person:
Age- 21-65 years
Minimum Annual Income- Minimum INR 2 Lakh
Tenure in Current Employment- Minimum 3 Years
Quantum of Loan- Upto 90% of car value
Eligibility for self-employed person:
Age- 22-65 years
Minimum Annual Income- Minimum INR 1 Lakh
Tenure in Current Employment- Minimum 2 Years
Quantum of Loan- Upto 75% of car value
The documents required for the verification process of Skoda Car Finance varies for different types of person applying for the finance i.e. salaried or self-employed person.
For Salaried Person:
ID Proof- PAN Card, Passport, Driving License, GST Certificate (if required)
Address Proof- Lease Agreement, Telephone Bill, Utility Bill, Bank Statement (latest up to 6 months)
Other Documents- Last 3 month's payslips + Form 16/ IT Return
For Self-employed Person:
ID Proof- PAN Card, Passport, Driving License, GST Certificate (compulsory)
Address Proof- Lease Agreement, Telephone Bill, Utility Bill, Bank Statement
Other Documents- Business Bank Statement (Credit Transactions for up to 6 months) + Proof of Business + Income Tax Returns along with Balance Sheet and Profit and Loss A/C + Computation of Income + ITR report (if audited)
Skoda has made its Finance scheme so versatile that it fulfils its users with great satisfaction. Here are a few key features of Skoda Car Finance that make it the most suitable choice for its users:
Quick and Easy to Apply
Skoda offers a reliable and hassle-free ownership experience for its users making it comprehensive. The easy application process makes it frictionless. Moreover, the process is supported by extremely efficient logistics and up-to-date technology, making it even more reliable for its users. The process is so well derived that neither applicant nor service providers feel any trouble during the process.
Extended Duration
The service provider has ensured the user gets enough time to complete the finance process without issues. The process may vary from 12 months to 60 months, by which the user gets a maximum of 5 years to repay the debts with more EMIs. This also lets users cut short their EMIs to make them more affordable for them.
Intensified Finance scheme
The company has provided its users with an affordable to-all range choice by providing finance of up to 90% of the car's value. Premium brands like Skoda do not often provide such schemes for their users, but here it's only an exception that Skoda lovers could use to own their dream car.
We’re excited to be able to provide car financing solutions to our users. We hope that you find the information in our blog useful! Follow Park+ for more such car finance-related blogs and see how other companies avail car financing to their users.
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