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
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EMI Amount = *
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. |
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 |
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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 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:
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Minimum Paperwork
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Loans up to 100% of a Car's Value
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Competitive Interest Rate
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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.
Apply for an Instant Used Car Loan for a Luxury Car 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


& 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
Making a down payment is not a necessity, as we offer 100% financial support. However, you can make a down payment to reduce your loan liability.
Not necessarily, if your credit score is 750 or above, then you are eligible for a Used Luxury Car Loan.
If you’ve met the eligibility criteria and submitted all the required documents correctly, processing a Used Luxury Car Loan takes a shorter period.
It is not necessary; You can apply for a loan without having a co-applicant while applying for a Pre-owned Luxury Car Loan.
*Terms & Conditions Apply