: :  Used Car Application Process

The application process is a simple, 7-step process...

Step 1: Getting Information

You can get information on our finance schemes in various ways mentioned below:

1) You can reach us on marketing@kotak.com
2) You can visit us or call up the branch click here for details.
3) You can apply online
4) You can sms EASY <followed by name of your city> at 5675788
Step 2: Receiving the KMPL offer

We offer tailor made schemes based on your needs.
Step 3: Documentation

Once the vehicle, product and scheme are finalised, it will be time for us to initiate the process of making finance available to you as soon as possible. In order to process the loan application smoothly, we require the following documents from our customer.

The table below represents the documents required from you. Please identify yourself in the appropriate category and arrange for these documents. We assure you that once these are in place we will be able to process the finance in the shortest possible time.

Documents

Salaried Concerns

Self Employed Firm

Proprietary

Partnership

Companies
KMPL App. Form duly filled by you

Y

Y

Y

Y

Y
 
Latest Salary Slip showing statutory deductions

Y

-

-

-

-
 
Form 16 / IT Returns

Y

-

-

-

-
 
Proof of Residence (copy of electricity/ telephone bill)

Y

Y

Y

Y

Y
 
Signature
Verification from your Banker / Voters ID / IT PAN card / IT Return / Driving License/ Passport

Y

Y

Y

Y

Y
 
Computation of Income for the last 2 years certified by CA

-

Y

Y

Y

Y
 
P&L A/C and B/S for the last 2 years certified by CA

-

Y

Y

Y

Y
 
Copies of Income Tax Returns for the last two years

-

Y

Y

Y

Y
 
Partnership Deed / Trust Deed

-

-

-

Y

-
 
Letter of Authority

-

-

-

Y

-
 
MOA and Board Resolution authorizing one director to execute
the agreement.

-

-

-

Y

Y
 
Photograph (one signed by the customer)

Y

Y

Y

-

-
 
RC copy

Y

Y

Y

Y

Y
 
Insurance Copy

Y

Y

Y

Y

Y
 
Valuation form from our authorized valuation agency

Y

Y

Y

Y

Y
Step 4: Valuation of vehicle

Authorised Insurance Evaluator will visit and evaluate the condition of the vehicle proposed for funding and submit a report for approximate market value. This will help you in purchasing non-accidental vehicle.
Step 5: Credit Evaluation

 A field investigation officer will visit you for additional information that will help us process your loan. A KMPL credit officer will evaluate your proposal based on the documents submitted by you along with the FI report.
Step 6: Processing of Finance

After Credit approval, we will enter into an agreement with you and collect post dated cheques (PDCs) / ECS Mandate.

You also need to give us a pay order or cheque for the initial payment (IP) (upfront money as applicable) .On receipt of complete documentation, signed agreement, IP, insurance cover note and PDCs / ECS Mandate we will make the payment to the dealer for your car.
Step 7: Delivery of the car

The time has finally arrived for you to take delivery of your car.

Please Note: Date of delivery of cars is the sole responsibility of dealer / broker
Step 8: Receiving Agreement and Re-Payment Schedule

At the time of delivery, ask the dealer when you can collect the RC book as registration/transfer can take a longer time. Subsequent to receiving the photocopies of Insurance cover note and RC book transferred in your name, we will send the Agreement copy and Repayment Schedule to you.


These are the eight simple steps to acquiring you car. And we hope this gives you a feel of what KMPL car finance is all about. At any point, if you require further assistance please contact us
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: : To help us serve you better kindly fill up the Online Form  or write      to marketing@kotak.com and we'll get back to you shortly.
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