Get a Second-Hand Car Loan Today!
A Used Car Loan makes it easier to purchase a second-hand car by allowing you to spread the cost into affordable monthly instalments. With Poonawalla Fincorp, you can avail of a Pre-owned Car Loan of up to ₹75 Lakh at interest rates starting from 11% p.a. Also, you can enjoy flexible loan tenure options of up to 72 months.
EMI Calculator For Used Car Loan
Calculate your monthly repayments in advance to better plan your budget and manage expenses. Based on the loan amount, interest rate, and tenure, the Pre-owned Car Loan EMI calculator also shows the total interest payable over the loan tenure.
Why Choose Poonawalla Fincorp
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
Meet the required used car loan eligibility criteria based on your occupation to avail of the loan:
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Age
Salaried Individuals : 21 (during loan application) and 60 years of age (at loan maturity) Self-Employed Individuals
Self-Employed Individuals : 24 (during loan application) and 65 years of age (at loan maturity)
Firm / Company : Proprietor / Partners / Directors as applicable, must be a minimum of 24 years of age
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Experience /Vintage:
Salaried Individuals :
Up to ₹10 Lakh: 3 months in current employment with 12 months total employment stability.
₹10 Lakh - 75 ₹Lakh: 6 months in current employment with 24 months total employment stability.
Self-Employed Individuals
Up to ₹10 Lakh: 24 months in the current business.
₹10 Lakh - ₹75 Lakh: 36 months in the current business.
Firm / Company
Should be in the same business for a minimum of 2 years
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Citizenship:
Salaried Individuals: Individuals with Indian citizenship
Self-Employed Individuals: Proprietor / Partners / Directors with Indian citizenship
Firm / Company: Proprietor / Partners / Directors with Indian citizenship
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Credit Score:
Salaried Individuals
CIBIL 700 and above
New to Credit is also allowed
Self-Employed Individuals
CIBIL 700 and above
New to Credit is also allowed
Firm / Company
The credit score of the Proprietor / Partners / Directors must be 700 and above
Check-out used car loan eligibility criteria in detail
The loan application process for a Pre-owned Car Loan requires minimal documentation. Submit the required documents based on whether you are salaried, self-employed and firms/company to avail the loan:
- KYC Documents
- Financial/Income documents
- Ownership and Insurance documents
- Address proof documents
- Bank statement
Checl-out the necessary documents reuiqred for old car loan in detail
Get the loan at attractive interest rate and nominal charges:
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
Poonawalla Fincorp provides used car loans with additional advantages that make them more appealing:
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Balance Transfer: If you already have a used or second-hand car loan, you can transfer it to Poonawalla Fincorp. This helps you get a lower car loan interest rate, reduce your used car loan EMI, and choose a better repayment tenure.
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Top-Up Loan: With an existing Pre-owned Car Loan, you can apply for a top-up used car loan of up to 200%. This increases your loan amount without taking out a new car loan, helping you manage extra expenses related to your pre-owned car.
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Easy EMI Planning: Use an used car loan EMI calculator to check your used car loan EMIs in advance and select a comfortable loan tenure.
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Quick Online Process: Apply for a used-car loan online to make owning your dream car easier and faster.
Get Funds Quickly With
Minimal
Documentation
Happy customers, happy us
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
Very professional staff knowledgeable and polite should be always a first choice to choose Poonawalla i always get gentle reminder about my due date and once payment is made love the teamwork thankyou
Thats a smooth process. It helped me getting my query resolved within fraction of seconds.
All Good Services has Provided From Poonawalla Fincorp I will Definitely Recommend the Company.
The service is very good I have received the payment at the time they were given everything is very good.
I will definitely recommend the company if someone ask or need as I have been associated with company from last 10 years
Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s
FinHub
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09 Feb 2026 | 2 Minutes
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05 Feb 2026 | 4 Minutes
Frequently Asked Questions
A used car loan is a financing option that helps you purchase a second-hand vehicle on an EMI basis.
Yes, you can fill out the Pre-owned Car Loan application online.
Depending on your car price and eligibility, you can borrow up to ₹75 Lakh for your used car loan.
The loan tenure can be up to 72 months, depending on the loan amount and the borrower's profile.
Your interest rates, like your used car loan interest rate, will be based on your credit score and financial profile.
You will be required to submit the following documentation: Identity Proof, Income Proof, Bank Statements and the Registration Certificate of the Vehicle.
Yes. You can get pre-owned car financing for a wide variety of vehicles, including luxury and premium cars.
You can easily apply for a top-up loan if you wish to increase the amount of the Loan.
Yes, you may transfer your current car loan from another lender to Poonawalla Fincorp to take advantage of potentially better terms.
Getting a second-hand car loan may be suitable for salaried individuals, self-employed individuals and others who meet the eligibility requirements.