loan for used hatchback cars

Loan for Used Hatchback Cars

Attractive Interest Rates | Quick Approvals | Easy Application Process

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.

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

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

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
  • PAN Card/Form 60
  • Aadhaar Card
  • Driving License
  • Passport
  • Voter ID
  • PAN Card
  • Aadhaar Card
  • Passport
  • Voter ID
  • Firm/Company PAN Card, GST Registration Certificate (If applicable) and Other Applicable Registration
  • KYC of Partners / Directors PAN Card and Aadhaar Card
Address Proof
  • Passport
  • Driving License
  • Voter ID
  • Passport
  • Driving License
  • Voter ID
  • Electricity bill for owned premises
  • Rent agreement for Rented premises
  • Passport for Partner / Directors
Income Documents Latest salary slips
  • 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 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.

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:

  • Easy To Apply Logo

    Flexible Repayment Tenure

  • High Loan Amount Logo

    High Loan Amount

  • Attractive Interest Rates Logo

    Attractive Interest Rates

  • Seamless Application Process Logo

    Seamless Application Process

  • Competitive Interest Rate Logo

    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.

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.
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Apply Online

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

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Personal Details

Enter your DOB, Qualification and other necessary details

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Verfied LogoEmployment
& Car

Employment & Car Details

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

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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 pre-pay 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?

Of course, 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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