Vehicle Loan Verification

Vehicle Loan Verification

Vehicle Loan Verification

Vehicle financing involves verifying both the borrower’s ability to pay and the legitimacy of the asset being purchased. Whether it is a brand-new vehicle from a showroom or a pre-owned asset from a dealer, our verification process covers the entire lifecycle of the loan application to prevent asset-based fraud.

Our Verification

  • Residential Stability Check: In-person Residence Verification to confirm the applicant’s address and ensure they are reachable for future service or recovery.
  • KYC & Identity Authentication: A thorough KYC Document Verification to ensure all identification provided by the applicant is valid and legally recognized.
  • Employment & Business Audit: Verification of Pay slips, Salary Slips, Form 16, or ITR. This includes a physical Office or Business Visit and Tele-verification to confirm professional stability.
  • Financial Analysis: Comprehensive Bank Statement Verification and Balance Sheet Verification (for commercial/business cases) to evaluate the borrower's debt-to-income ratio.
  • Risk Profile & Legal Search: An analysis of the Loan/Liability track record and a check for any Criminal Antecedents to ensure the applicant has a clean legal history.
  • New Vehicle & Dealer Audit: Dealer & Invoice Verification to confirm the proforma invoice is genuine. This includes checking ROC records of the Dealer to verify if they are an authorized entity.
  • Used Vehicle & RC Validation: For pre-owned vehicles, we perform a Registration Certificate (RC) Book Verification to check for existing hypothecation, blacklisting, or ownership disputes.

Securing the Asset:

By verifying the dealer's credentials and the vehicle's registration history, we ensure that the lender's interest is properly noted and that the funds are being utilized for a legitimate, high-quality asset.

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