Loan Amount
Up to ₹75 Lakh
Interest Rate
Starting at 11%* p.a.
Loan Tenure
12-72 Months

Get a Pre-owned Car Loan today!

Bring home your dream car with a Pre-owned Car Loan. With a higher loan amount of up to ₹75 lakh, you can easily choose a car of your choice. Our borrower-friendly used car loan focuses on providing a hassle-free experience through our online loan application process with competitive interest rates starting at 11%* p.a.

Why Choose Poonawalla Fincorp

High Loan-to-value Ratio
Minimal
Documentation
Easy and
Hassle-Free Process
Competitive
Interest Rate
Flexible
Repayment Option
No Hidden Charges

Pre-owned Car Loan EMI Calculator

Enter the loan amount, interest rate and tenure to calculate your monthly EMI for a used car loan.

Optimise Your Pre-Owned Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Rupees one lakh

Interest Rate

%
11 %
30 %

Tenure

Months
12Months
72Months

Apply for a Pre-owned Car Loan in Just 3 Steps

Click on "Apply Now"

Tap the “Apply Now” button to initiate your application.

Enter Details

Enter your DOB, contact, employment and car details.

Upload Documents

Upload the necessary documents for quicker approval.

On successful verification, the loan amount will be disbursed into your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for a Pre-owned Car Loan

Depending upon whether you are salaried, self-employed and firms/companies, your eligibility criteria may differ based on:

  • Age
  • Occupation
  • Income
  • Citizenship

Click to know more about the eligibility criteria in detail

Documents Required for a Pre-owned Car Loan

Submit the required documents based on whether you are salaried, self-employed and firms/companies to avail the loan.

  • KYC Documents
  • Financial/Income documents
  • Ownership and Insurance documents
  • Address proof documents
  • Bank statement

Click to know more about the necessary documents in detail

Pre-owned Car Loan Interest Rates & Charges

Interest Rate
11% p.a. onwards 
Loan Amount
₹1 Lakh to ₹75 Lakh
Loan Processing Fees
Up to 1% plus applicable taxes
Lowest EMI Per Month
₹1903* per Lakh for 72 months
Loan Tenure
12 – 72 Months
Prepayment/Foreclosure Charges
0% if paid from own sources
4% if paid from other sources
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500 per bounce plus applicable taxes
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf

*T&C Apply

Additional Perks of a Used Car Loan

With a used car loan, you can enjoy additional benefits such as:

  • Balance Transfer: Transfer your existing loan to Poonawalla Fincorp’s used car loan balance transfer and experience significant financial relief with better interest rates, lower EMIs, and substantial savings.

  • Top-up Loan: Top-up on your existing loan scheme for a used car of up to 200% of its value. With Poonawalla Fincorp’s used car loan top up, you can enjoy the flexibility of a high loan amount of up to ₹75 Lakh with minimal documentation and no hidden charges.

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

1. What is a second-hand car loan?

A second-hand car loan makes buying your dream car affordable and convenient. With Poonawalla Fincorp, you can get a loan amount of up to ₹75 Lakh and enjoy various benefits such as minimal documentation, flexible repayment tenure, etc.

2. How to apply for a second-hand car loan from Poonawalla Fincorp?

To avail of the Poonawalla Fincorp used car loan, follow these simple 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.

 

3. What type of cars can I buy with a used car loan in India?

With our used car loan, you can buy all kinds of cars, including premium cars, SUVs, sedans, and hatchbacks.