Used Car Loan for Hatchback
Buying a used hatchback car is a smart choice for multiple reasons, such as fuel efficiency and versatile cargo space etc. However, securing the necessary funds for your dream hatchback is sometimes challenging.
Poonawalla Fincorp provides the benefit of our Used Car Loan for Hatchback. Our loans are user-friendly and come with minimal documentation, a higher loan amount, flexible repayment tenure and many more benefits to finance your dream car.
Let Poonawalla Fincorp be your financial partner and support you in achieving your dream of buying a used hatchback car, without any hassle.
EMI Calculator for Used Car Loan for Hatchback Car
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Interest Rate & Charges for Used Car Loan for Hatchback Car
| Pre-Owned Car Loan Interest Rates | 11% p.a. onwards |
| Loan Amount | ₹1 Lakh - ₹75 Lakh |
| Loan Processing Fees | 1% plus applicable taxes |
| Lowest EMI per month | Starting from ₹1903* per Lakh for 72 months |
| Loan Tenure | 12 - 72 months |
| Prepayment/Foreclosure Charges | 0%* If paid from own sources. 5% of the outstanding loan amount plus taxes if paid from other sources |
| Late Payment Charges | 3% per month |
| Cheque Bounce Charges | ₹1000 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Required Eligibility Criteria for Loan to Purchase Used Hatchback Car
Anyone who wants to avail a Used Car Loan can apply online for a Pre-Owned Car Loan with Poonawalla Fincorp. You only need to meet the eligibility criteria and submit the appropriate loan documentation to ensure a simple process.
Refer to the table for checking your eligibility:
| Description | Salaried Individuals | Self-Employed Individuals | Firm / Company |
| Age | Applicants must be between 24 years (during loan application) to 60 years (at loan maturity) | Applicants must be between 24 years (during loan application) to 60 years (at loan maturity) | Proprietor / Partners / Directors / Trustee as applicable must be a minimum of 24 years old |
| Experience / Vintage | Upto 10Lakh: 3 months in current employment with a total of 12 months of employment stability. | Upto 10Lakh: 24 months in current business. | Should have been operating the same company for at least two years. |
| 10 Lakh -75 Lakh: 6 months in current employment with 2 years total employment stability. | 10 Lakh -75 Lakh: 60 months in current business. | ||
| Citizenship | Individuals with Indian Citizenship | Proprietor / Partners / Directors with Indian Citizenship | Proprietor / Partners / Directors/Trustees with Indian Citizenship |
Required Documents for Used Hatchback Car Loan
Our Pre-Owned Car Loan can be your financing partner to support you in achieving your desired car with minimal documentation.
All you need to do is, submit the following documents correctly for a swift loan process:
| Description | Salaried Individuals | Self-Employed Individuals | Firm / Company |
| Identity Documents |
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| Address Proof |
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| Income Documents | Latest salary slips |
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| Bank Account Statement | Salary account statement for the last 3 months | Statement for the last 6 months | Statement for the last 6 months |
| Car Documents | If you have already finalized the car, include RC & Insurance | ||
Note: The list of Pre-owned Car Loan documentation shown above is a basic requirement. It's possible that more paperwork will be needed while the loan is processed.
Benefits of Used Car Loan for Hatchback Car
Buying a car is always a dream for everyone. It requires proper financial planning to buy your dream car and avoid any financial distress. Thankfully, Poonawalla Fincorp's Pre-owned Car Loan comes to support you financially with multiple benefits, such as:
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Flexible Repayment Tenure
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High Loan Amount
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Attractive Interest Rates
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Seamless Application Process
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Minimal Paperwork
Flexible Repayment Tenure
We at Poonawalla Fincorp understand that repayment should be convenient to the applicant. Hence, it provides you with the freedom to select your repayment period between 12-72 months.
High Loan Amount
Find the vehicle of your dreams and make the purchase a reality with a Pre-owned Car Loan from Poonawalla Fincorp. Get an amount of up to ₹75 Lakh and get one step closer to acquiring the used car of your choice.
Attractive Interest Rates
With one of the competitive interest rates in the market, you can avail yourself of purchasing a pre-owned car at an affordable rate.
Seamless Application Process
You can enjoy a complete, hassle-free experience tailored for speed and comfort, with just a few clicks through our online application process.
Minimal Paperwork
To avail yourself of the benefits of our loan, you are required to submit the basic documents correctly.
How to Apply for Used Hatchback Car Loan
Availing yourself of our Used Hatchback Car Loan is just a few clicks away.
Follow the below-mentioned steps to apply for a loan without any hassle:
- Step 1: Go to the official website of Poonawalla Fincorp & visit the 'Pre-owned Car Loan' page.
- Step 2: Click on the "Apply Now" button and fill in the application form.
- Step 3: Upload the required documents.
- Step 4: After the document submission, the loan application is processed for verification.
- Step 5: Post verification, we will disburse the loan amount directly to your bank account upon loan approval.
Apply for Instant Used Hatchback Car Loan within 5 Minutes
Apply
Online
Apply Online
Click on Apply Now and provide your contact details and loan details
Personal
Details
Personal Details
Enter your DOB, Qualification and other necessary details
Employment & Car
Details
Employment & Car Details
Enter your employment details, car details (if car is finalized) and submit the form
Verification
Verification
Application will then proceed for verification and assessment
Frequently Asked Questions
With Poonawalla Fincorp's Pre-owned Car Loan for Hatchback, you can avail of loan amounts up to ₹ 75 Lakh.
You can choose a tenure between 12 to 72 months, based on the loan amount and your preference.
Closing the debt is a wise decision that can result in significant savings. When you have finished the first six months of your loan tenure, we charge 0% if paid from your own sources and a minimal 5% fee if paid from other sources.
Of course, Interest rates on a Used Hatchback Car Loan can be negotiated, based on your credibility, CIBIL score, etc.
*Terms & Conditions Apply
