Used Car Loan

Pre-Owned Car Loan

Attractive Interest Rates | Quick Approvals | Easy Application Process

Buying a car is an exciting experience and one you should enjoy without any compromise. With Poonawalla Fincorp, you can get the used car of your choice, and fund the purchase affordably with our pre-owned car loan. We offer several convenience-first features to help make this purchase convenient and easy on your finances.

Every step of the way is optimized to deliver a speedy and hassle-free experience. You can easily qualify for the sanction thanks to the minimal requirements, get instant approval, and tailor repayment to suit your capabilities. We also offer end-to-end doorstep services to facilitate the experience. With a dedicated relationship manager guiding and assisting you, buying a pre-owned car of your choice is now easier than ever.

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Our pre-owned car loan or also referred as apersonal vehicle loan is customized to offer you some of the best benefits. Every provision is designed to facilitate a seamless and easy purchase experience.

    Here are some of the top features of our personal vehicle loan:
  • High-value sanction for purchase or refinance of a wide range of used cars
  • Comfortable and flexible loan tenure
  • Competitive personal vehicle loan interest rate & charges
  • Easy 5-step online loan application provision
  • Minimal documentation, quick loan processing, and swift approvals
  • 100% transparency with no hidden charges
  • Customized Pre-Owned Car Loan EMI Calculator for easy loan planning

You deserve a hassle-free and seamless experience while making such a purchase. Because of its simple standards and digital approach, the Poonawalla Fincorp Pre-Owned Car Loan provides such a benefit. We make it simple to get funds, provide quick approval, and expedite loan processing.

    These criteria are basic and related to:
  • Age
  • Work experience
  • Income
  • Citizenship

To know about these requirements in detail, check the pre-owned personal vehicle loan eligibility criteria.

Documents required for used car loan

To ensure that you don’t waste time on never-ending paperwork when buying a car, we only require you to submit basic documents. This facilitates quick processing and ensures that you can get approval without getting hassled about loan formalities.

    The list of requireddocuments for getting a personal vehicle loan includes:
  • KYC documents
  • Address proof documents
  • Financial/Income documents
  • Ownership and Insurance documents

Find more information about the documents required for our pre-owned car loan online.

The Poonawalla Fincorp Pre-Owned Car Loan offers an effortless loan application process, thanks to easy requirements and a digital process. We ensure easy access to funds to:

  • Salaried Individuals
  • Self-employed Individuals
  • Firms & Companies
What is a Pre-Owned Car Loan?

A Pre-Owned Car Loan is a financial instrument that individuals can avail to purchase a used car. Lenders usually provide a percentage of the car’s value in funding, and some may even offer the full value as a sanction. These loans are offered at affordable rates and feature a flexible tenure too.

How do used car loans work?

Knowing how used car loans work is crucial to making the right decisions. First, you must approach a lender and check if you qualify for the loan. Next, either choose from the lender’s online marketplace of used cars or present the lender with a vehicle of your choice. Based on the condition and age of the used car, the lender will determine approval and the subsequent loan terms applicable.

What should I keep in mind before I apply for a used car loan?

Firstly, it is important to have a car model finalized and to ensure you meet all the eligibility terms. Secondly, you may be required to make a down payment, so be sure to have enough funds on hand.

How to find a used car loan?

It is fairly easy to find such offerings as you can now search for used car loans online. The Poonawalla Fincorp Pre-Owned Car Loan is among the top offerings in the market, and you can avail of it easily in just 5 steps.

How to get a used car loan?

Learning how to apply for a used car loan is easy. To avail the Poonawalla Fincorp Pre-Owned Car Loan, follow these simple steps.

  • Visit the official webpage
  • Click on ‘Apply Now’
  • Fill out the easy form and upload a few documents
  • Await verification and assessment
  • Get loan approval and authorize disbursal
What type of cars can I buy with a Pre-Owned Car Loan in India?

With our Pre-Owned Car Loan, you can buy all kinds of cars including premium cars, SUVs, sedans, and hatchbacks

How long will it take?

The loan application procedure is straightforward. We only require your KYC documents and bank account information. We recommend speaking with a Poonawalla Fincorp representative at your local vehicle dealership or visiting a Poonawalla Fincorp branch near you. This will assist you in completing the approval procedure.

Are there any digital provisions offered by Poonawalla Fincorp?

Yes. We offer a wide range of digital provisions to ensure borrowers have a smooth and hassle-free experience. Thanks to our online loan applications and processing protocols, we can offer an instant used car loan to eligible applicants. What’s more, applicants can plan the loan easily with the online EMI calculator.

Is there a tax benefit on car loans?

If you are a self-employed car loan borrower or your car is used for business purposes, you can actually save money on taxes. However, because an automobile is considered a luxury purchase, this does not apply to salaried persons. If the car loan is utilized to purchase a vehicle for business purposes, the interest payment is calculated as a business expense that can be deducted.

Interest Rate

APR ranging from 11% | One-time Processing Fee of 1% plus taxes.


Flexible repayment tenure from 1 year to 5 years with 5% Foreclosure charges on your loan after 6 months from date of availing.


Loan Amount Rs.10 lakh, Interest Rate: 11%, Tenure: 5 years, equates to EMI of Rs. 21,742 per month.

This rate of interest is prone to fluctuation basis our internal credit and risk policy, and as per an algorithmic multivariate score card.
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Apply Online

Click on Apply online and fill in the basic details in application form.

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Submit Documents

Submit your KYC and Income documents to check your loan eligibility.

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The application and documents are processed for quick verification and assessment.

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Quick Approval

You get a quick update once your loan application is approved.

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Instant Disbursal

That’s it! Your car loan is instantly disbursed and ready for you to drive your dream car.

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Our Pre-Owned Car Loan are available at locations

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