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

Apply for a Pre-owned Car Loan in Chennai Today

Chennai, a cultural hub and the capital of Tamil Nadu, is home to the booming automobile and IT industries. Make your commute in this city convenient with a car of your choice. Access affordability with a Pre-owned Car Loan of up to ₹75 Lakh from Poonawalla Fincorp. Enjoy flexible EMIs, quick approvals, and instant disbursal. Apply now!

Why Choose Poonawalla Fincorp

Loan up to 100%
of Car's Value
Quick
Approval
Attractive
Interest Rate
Zero Hidden
Charges
Minimal
Documentation
Flexible
Repayment Tenure

Pre-owned Car Loan EMI Calculator

Calculate your monthly repayment obligations with our second-hand car EMI calculator. Enter the loan amount, interest rate, and tenure for instant and accurate results. Try now!

Optimise Your Pre-Owned Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹200000
Interest Payable
₹5,493

Loan Amount

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 in Chennai

Depending upon whether you are salaried, self-employed or an established firm/company, your eligibility criteria may differ based on:

  • Age
  • Occupation
  • Experience/Vintage
  • Citizenship

Click to know more about our eligibility criteria in detail.

Documents Required for a Used Car Loan in Chennai

Submit the required documents based on whether you are salaried, self-employed or an established firm/company to avail of this loan:

  • Car Documents
  • Identity Proof
  • Address Proof
  • Income Proof
  • Bank Account Statement

Click to know more about the documents required in detail.  

Interest Rate and Charges for a Pre-owned Car Loan

Avail of a second-hand car at a competitive interest rate and nominal charges:  

Interest Rate
11%* p.a. onwards 
Loan Amount
₹2 Lakh - ₹75 Lakh
Loan Processing Fees
Up to 2%
Lowest EMI Per Month
Starting from ₹1903* per Lakh for 72 months
Loan Tenure
12 – 72 Months
Prepayment/Foreclosure Charges
4% plus applicable taxes
Default Charges
24% p.a. plus taxes
Repayment Instrument Dishonour Charges
₹500 per bounce
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

Different Types of Cars to Buy with a Used Car Loan

  • Pre-owned sedans 
  • Hatchbacks 
  • SUVs 
  • Premium cars 
  • Electric cars 

Who Can Get a Pre-owned Car Loan in Chennai

  • Salaried employees  
  • Self-employed individuals  
  • Firms or companies 

Tips for Successful Pre-owned Car Loan Application 

  • Check the eligibility criteria  
  • Keep the required documents ready  
  • Understand the terms and conditions  
  • Maintain a credit score of 750 or above 
  • Opt for the loan amount needed  
  • Correct any errors in your credit report 
  • Offer a larger down payment  
  • Choose a car within your budget  

Poonawalla Fincorp Branch Address in Chennai

Address: 2nd Floor, The Oval Tower, Venkata Narayana Road, T.Nagar, Chennai, Tamil Nadu-600017  

Contact Number: 1800-266-3201 (Toll-Free)  

Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays) 

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

Can I opt for ₹50 Lakh to buy a used car with a credit score of 750?

Yes, you can avail of a Pre-owned Car Loan of ₹50 Lakh if your credit score is 750 or above. Maintaining a high credit score gives you an advantage. Based on it and your repayment capacity, you can opt and get approval for a loan between ₹2 Lakh and ₹75 Lakh from us.  

What car documents should I present to get a used car loan in Chennai?

To get a second-hand car loan, you are required to provide your car registration number and vehicle insurance documents if you’ve already settled on your car of choice. By uploading minimal documentation when prompted, you can quickly complete our application process. 

 

How can I get lower interest rates for my used car loan in Chennai?

Follow the given tips to get lower interest rates on your Pre-owned Car Loan:  

  • Build a good credit score  
  • Choose a shorter tenure  
  • Offer to pay a higher down payment 
  • Clear all your existing debts  
  • Provide proof of sufficient income  
  • Establish a relationship with the lender as a customer