Used Car Loan for Buying a Hatchback
Great fuel efficiency, versatile cargo space, ample boot space, small size, and affordability make buying a used hatchback car a smart choice. Buy why empty your pockets when you can avail of a Pre-owned Car loan from Poonawalla Fincorp?
Get up to ₹75 Lakh with minimal documentation and at attractive interest rates. Enjoy a flexible loan repayment tenure, quick disbursal, and no hidden charges. Apply now!
EMI Calculator for Pre-owned Car Loan for Hatchback Car
Calculate the EMI on your Used Car Loan with our EMI calculator just by entering the loan amount, interest rate and tenure.
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EMI Amount = *
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 Lakhs |
| Loan Processing Fees | Up to 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. 4% of the outstanding loan amount plus taxes if paid from other sources |
| Default Interest | 2% per month |
| Repayment Instrument Dishonour Charges | ₹500 per bounce plus applicable taxes |
| Stamp Duty | At actuals (as per state) |
| No Other Hidden Charges | |
Eligibility Criteria for a Loan to Purchase Used Hatchback Car
Meet simple eligibility criteria to ensure a smooth loan application process and quick disbursal. 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 | Up to ₹10 Lakh: 3 months in current employment with a total of 12 months of employment stability. | Up to ₹10 Lakh: 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 |
Documents Required for Used Hatchback Car Loan
Submit a few necessary documents to avail of a Pre-owned Car Loan in no time! Here’s a checklist:
| 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 for the last 3 months |
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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 finalised the car, include RC & Insurance | ||
Note: The list of Pre-owned Car Loan documentation shown above is an essential requirement. It's possible that more paperwork will be needed while the loan is processed.
Benefits of Pre-Owned 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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High Loan Amount
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Flexible Repayment Tenure
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Attractive Interest Rates
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Seamless Application Process
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Minimal Paperwork
High Loan Amount
Get an amount of up to ₹75 Lakh and get one step closer to acquiring the used car of your choice.
Flexible Repayment Tenure
Choose a repayment period between 12 and 72 months and repay the loan at convenient monthly instalments.
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 interest rate starting at 11% p.a.
Seamless Application Process
Our online application process is designed to offer a hassle-free experience with just a few clicks.
Minimal Paperwork
A Pre-owned Car Loan for a hatchback requires minimal documentation, such as identity proof, address proof, income, bank account details and car documents.
How to Apply for a Used Hatchback Car Loan
Apply online for a Pre-owned Car Loan with Poonawalla Fincorp in just three steps:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
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.
Yes, Interest rates on a Used Hatchback Car Loan can be negotiated based on your credibility, CIBIL score, etc.
*Terms & Conditions Apply
