Loan for Used Luxury/Premium Car Up To 75 Lakh

Used Car Loans for Luxury Cars

We all desired to own a luxury car. However, owning a luxury car comes up with a higher price. This makes it challenging to purchase a luxury car without any financial support. With Poonawalla Fincorp’s Used Car loan for Luxury Cars, you can turn dreams into reality. Not only does it come with higher loan amounts, and attractive interest rates, but also a flexible repayment tenure. Our Pre-owned Luxury Car Loan process is a fully digitalised loan that requires minimal documentation and has easy eligibility criteria to sanction.

EMI Calculator for Used Car Loan for Luxury & Premium Cars

Loan Amount

1,00,000 75,00,000

Interest Rate %

9% 30%

Tenure

1 Year 6 Years

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EMI Amount = *

Check Repayment Schedule
Download Repayment Schedule

Interest Rate for Pre-Owned Luxury Car Loan

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

Eligibility for Loan to Purchase Used Premium & Luxury Car

The eligibility criteria at Poonawalla Fincorp is a cinch.

To meet the eligibility requirements, refer to the table below for a brief understanding:

Description	Salaried Individuals	Self-Employed Individuals	Firm / Company
Age	Applicant’s age must be between 24 years (during loan application) to 60 years (at loan maturity)	Applicant’s age must be between 24 years (during loan application) to 60 years (at loan maturity)	Partners / Proprietor / 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.
Experience / Vintage	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 Premium & Luxury Car Loan

Poonawalla Fincorp’s Used Premium & Luxury Car Loan comes with minimal documentation requirements. For an effortless process, submit the required documents on time.

Refer below to the list of required documents:

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 listed above documents are basic requirements for a Used Luxury Car Loan. There is a possibility that additional paperwork will be required during the loan process.

Advantages of Pre-owned Car Loan for Luxury Car

Make your dream come true with Poonawalla Fincorp’s Used Luxury Car Loan, and enjoy the following benefits offered by us:

Minimum Paperwork
Loans up to 100% of a Car's Value

Competitive Interest Rate
Flexible Repayment Period

Minimum Paperwork

With minimum paperwork, you can achieve your dream of buying a luxury car without any hassle. Refer above for the list of documents required for the loan procedure.

Loans up to 100% of a Car's Value

We value your dreams and ensure that you get the car you’ve always dreamt of. With the help of our loan, you can avail yourself of up to 100% funding for your car.

Competitive Interest Rate

We offer a Pre-owned Car Loan for Luxury Cars, ensuring that you save money by paying lower EMIs.

Flexible Repayment Period

Repayment should be made convenient for the applicant. By choosing a repayment schedule that lasts up to 72 months, you can stay within your spending limits for the duration of the loan.

How to Apply for Used Luxury Car Loan

Applying for a Used Car Loan for luxury cars is very simple.

Follow the below-mentioned steps to apply for a loan without any hassle:

Step 1: Go to the official website of Poonawalla Fincorp and visit the ‘Pre-owned Luxury Car Loan’ page.
Step 2: Fill in the application form by Clicking on the “Apply Now” button.
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.