loan for used electric cars

Loan for Used Sedan Cars

Want to get a stylish ride without spending too much? Own a used sedan car with a Pre-owned Car Loan from Poonawalla Fincorp. Our loan allows you to buy a sedan and any other car of your desire at competitive interest rates. This loan entails minimal paperwork and offers flexible repayment tenure, ensuring a hassle-free and affordable financial solution for you. So, get smart with your finances by choosing a used car loan for sedan. Apply now!

Pre-Owned Car Loan Interest Rates 11% p.a. onwards
Loan Amount ₹1 Lakh - ₹75 Lakh
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
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

For used Sedan car loan from Poonawalla Fincorp, you need to fulfil the following eligibility criteria:

Description Salaried Individuals Self-Employed Individuals Firm/ Company
Age During the loan application, the applicant’s age must range between 24 to 60 years. During the loan application, the candidate’s age must range between 24 to 60 years. Proprietor / Partners / Directors / Trustee should have a minimum age of 24 years at the time of application.
Experience/ Vintage For a loan up to ₹10 Lakh: Current employment stability must be 3 months and total employment stability 12 months For a loan up to ₹10 Lakh: 24 months of vintage in existing business. Applicant must be in the same business for at least 2 years.
For a loan between ₹10 Lakh- ₹75 Lakh: Current employment stability of 6 months and total employment stability of 24 months. For a loan between ₹10 Lakh- ₹75 Lakh: 60 months in existing business.
Citizenship Applicants must be an Indian citizen. Proprietor / Partners / Directors must have Indian Citizenship. Proprietor / Partners / Directors / Trustees must have Indian Citizenship.

Provide the following documents to get your loan application process started:

  • Identity Documents: PAN Card/Aadhaar Card/Voter ID/Driving Licence/Passport/etc. These documents also serve as KYC documents.
  • Address Proof: Passport, driving Licence, voter ID, electricity bills for owned premises, etc.
  • Income Proof: Latest salary slip, GST return, Income Tax Return, etc., among other documents.
  • Bank Account Statement: Salary account statements and other financial statements.
  • Car Documents: RC and Insurance if the car is already finalized.

Note: The above-mentioned Pre-owned Car Loan documents list is indicative. Additional documents may be required during loan processing.

You can avail of the following benefits by taking used car loan:

  • Easy To Apply Logo

    Vehicle Accessibility

  • High Loan Amount Logo

    Credit Building

  • Competitive Interest Rate Logo

    Competitive Interest Rates

  • Flexible Repayment Tenure

    Flexible Repayment Tenure

  • Competitive Interest Rate Logo

    Tax Benefits

Vehicle Accessibility

A Pre-owned Car Loan provides accessibility to own sedan or any other used car even if you don’t have the full purchase price upfront.

Credit Building

Timely repayment of a used car loan can boost your credit score, opening doors to get better financial opportunities in future.

Competitive Interest Rates

Pre-owned Car Loan from Poonawalla Fincorp comes with competitive interest rates, ensuring affordable monthly payments for better financial planning.

Flexible Repayment Tenure

You can avail of a Pre-owned Car Loan with flexible repayment tenure. This enables you to repay the loan according to your financial capability.

Tax Benefits

According to the Income Tax Act 1961, the interest paid on Pre-owned Car Loan may be tax-deductible, particularly if the vehicle serves business purposes. (Note: The tax deduction percent changes according to the car’s price).

You can refer the below-mentioned instructions to apply:

  • 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 will be transferred to your bank account.

Semi Circle Logo
Laptop Logo

Apply Online

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

Semi Circle Logo
Document Required Logo

Personal Details

Enter your DOB, Qualification and other necessary details

Semi Circle Logo
Verfied LogoEmployment
& Car

Employment & Car Details

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

Semi Circle Logo
timer logo


Application will then proceed for verification and assessment

Can I get a used car loan easily to buy sedan?

Yes, you can easily get a used car loan through an online application process from Poonawalla Fincorp.

Can I only buy a used sedan car with a Pre-owned Car Loan?

You can buy any of your desired car with a Pre-owned Car Loan from Poonawalla Fincorp.

How much loan amount can I get to buy a sedan?

You can get funds up to 100 percent of the car’s value (up to ₹75 Lakh) with a Pre-owned Car Loan from Poonawalla Fincorp.

Can I pre-pay my used car loan for sedan?

Yes, you can easily pre-pay your used car without any foreclosure fee if paid through own sources. If you pre-pay the loan from any other source, 5% charges will be applied.

Explore Various Types of Our Used Car Loan Arrow Logo

Insightful Pre-Owned Car Loan Blogs Arrow Logo

Benefits of having a car
7 Benefits You'll Enjoy if You Upgrade to Your Own Car From a Bike

In any case, whenever someone is planning to buy a car, the first question that most of them will have is 'do I buy a brand-new vehicle or just go for a used car?'

Second hand car Loan
Loan For Second Hand Cars: Here's How You Can Get it Easily

A second-hand car or pre-owned car is one of the undisturbed markets – both post and pre-COVID times. Due to the hassle-free process of second hand car loan,

Contact Us logo Quick Apply CIBIL Score logo Free CIBIL Whatsapp logo Connect on WhatsApp