loan for used hatchback cars

Loan for Used Hatchback Cars

Attractive Interest Rates | Quick Approvals | Easy Application Process

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!

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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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

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

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
  • PAN Card
  • Aadhaar Card
  • Driving Licence
  • Passport
  • Voter ID
  • PAN Card
  • Aadhaar Card
  • Driving Licence
  • Passport
  • Voter ID
  • Firm/Company, GST Registration Certificate (If applicable) and Other Applicable Registration
  • KYC of Partners / Directors Aadhaar Card/PAN Card/Voter ID/Driving Licence/Passport
Address Proof
  • Passport
  • Driving Licence
  • Voter ID
  • Passport
  • Driving Licence
  • Voter ID
  • Electricity bill for owned premises
  • Rent agreement for Rented premises
  • Passport for Partner / Directors
Income Documents Latest salary slips for the last 3 months
  • Income Tax Returns for the last 2 years
  • Profit/Loss statement and balance sheet for the last 2 years
  • GST Returns
  • Income Tax Returns along with computation for the last 2 years
  • Profit/Loss statement and balance sheet for the last 2 years
  • GST Returns
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.

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:

  • High Loan Amount Logo

    High Loan Amount

  • Easy To Apply Logo

    Flexible Repayment Tenure

  • Attractive Interest Rates Logo

    Attractive Interest Rates

  • Seamless Application Process Logo

    Seamless Application Process

  • Competitive Interest Rate Logo

    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.

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.

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Apply
Online

Apply Online

Click on ‘Apply Now’ and provide your contact details and loan details

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Personal
Details

Personal Details

Enter your DOB, Qualification and other necessary details

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Verfied LogoEmployment
& Car
Details

Employment & Car Details

Enter your employment details, car details (if car is finalized) and submit the form

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Verification

Verification

Application will then proceed for verification and assessment

What is the highest loan amount I can get for a Used Car Loan?

With Poonawalla Fincorp's Pre-owned Car Loan for Hatchback, you can avail of loan amounts up to ₹75 Lakh.

What are the tenure options available?

You can choose a tenure between 12 to 72 months, based on the loan amount and your preference.

Can I prepay my used car loan?

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.

Can the interest rate be negotiated?

Yes, Interest rates on a Used Hatchback Car Loan can be negotiated based on your credibility, CIBIL score, etc.

*Terms & Conditions Apply

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