Pre-Owned Car Loan: Interest Rate& Charges
Affordable Rates | Nominal Charges | Complete Transparency
Affordability is a key factor when buying a second-hand car, and it is important to pick an instrument that works in line with such goals. To cater to this needand to help borrowers get the best price on a vehicle of their choice, our offering features some of the lowest and most competitive rates and charges in the market. With Poonawalla Fincorp, you are sure to have a pocket-friendly experience when buying a used car.
Pre-Owned Car Loan Fees & Charges
|Loan processing fees
|Late payment penalty
|Loan to Value (LTV)
Pre-Owned Car Loan Foreclosure Guidelines
Foreclosing a loan is the act of completely repaying the outstanding loan amount in one single payment. This is one of the best ways to save on interest, but it requires a sizable amount of money and must be done early in the tenure to be truly effective.
To ensure you make the best decision for yourself, follow this checklist.
1. Assess your financial standing and check if you can afford to foreclose the loan
2. Use the online calculator to know how much you can save
3. Ensure to have enough funds to cover emergencies or vehicular breakdown
4. Do a cost-benefit analysis to determine if it’s the right decision
Frequently Asked Questions
Applicants can purchase a used car with our loan on cost-effective terms. We levy only a 1% processing fee, plus taxes, on the pre-owned car loan. This is a nominal fee and can help you save money for other formalities involved in the purchase.What are the used car loan rates offered by Poonawalla Fincorp?
Poonawalla Fincorp offers some of the lowest rates in the market. Our pre-owned car loan rates start at just 12% p.a. With this instrument, you can be sure to enjoy an affordable experience without worry about exceeding your budget.How can I get the lowest used car loan interest rate?
To get the lowest interest rate for car loan from Poonawalla Fincorp, meet all the eligibility criteria, submit the required paperwork, and maintain a good financial profile.Are there any penalties levied on the Poonawalla Fincorp Pre-Owned Car Loan?
Yes. Defaulting on loan payments will attract a late payment penalty. Here, borrowers are charged 3% penal interest, plus taxes.