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
Our eligibility requirements for a 2nd-hand Car Loan are simple and depend on your employment type. Check the criteria below to see if you qualify:
-
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
-
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
-
Citizenship:
Salaried Individuals: Individuals with Indian citizenship
Self-Employed Individuals: Proprietor / Partners / Directors with Indian citizenship
Firm / Company: Proprietor / Partners / Directors with Indian citizenship
-
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
To complete your application for a Used car loan, you will need to submit a few essential documents. Please find the required list below, categorised by your employment type:
- KYC Documents
- Financial/Income documents
- Ownership and Insurance documents
- Address proof documents
- Bank statement
Check-out the necessary documents reuiqred for old car loan in detail
Get a Used car loan with competitive interest rates and transparent charges. Please review the details below to learn more:
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
A used car loan from Poonawalla Fincorp makes owning a 2nd-hand car affordable, simple, and rewarding. Let’s take a look at its key features and benefits:
- Lower EMIs: Pre-owned cars often cost less than new models of the same make and model, which results in a smaller loan amount. This means lower monthly EMIs that fit easily into your budget.
- High Funding: With a second-hand car loan, a significant portion of your car’s value is covered, reducing the need for a large down payment.
- Flexible Tenures: Choose a repayment term that suits your finances, longer tenures for lower EMIs, or shorter ones to close the loan faster.
- Quick & Digital: The used car loan process is quick and hassle-free, with minimal documentation and an easy online application. Once approved, funds are swiftly disbursed, allowing you to finalise your purchase without delays.
- Build Your Credit: Timely EMI payments can improve your credit score. While a good minimum CIBIL score is important for car loan approval, consistent repayment enhances your financial profile, making it easier to secure future loans.
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
-
18 Feb 2026 | 4 Minutes
-
09 Feb 2026 | 2 Minutes
Frequently Asked Questions
A used car loan is a financial product that helps you purchase a second-hand vehicle by spreading the cost over manageable monthly instalments. This loan allows you to drive home your dream pre-owned car without straining your finances.
Yes, you can easily apply for a Used car loan online through a simple application process. The loan application is accessible anytime, anywhere, making it convenient to apply for a Second-hand Car Loan from the comfort of your home.
You can borrow up to ₹75 Lakh for a Used car loan, depending on your eligibility and the vehicle's price. Poonawalla Fincorp determines the loan amount based on factors like your financial profile and creditworthiness.
The repayment tenure for a used car loan can range from 12 to 72 months, offering flexibility depending on the loan amount and your financial profile. This allows you to choose an EMI plan that best suits your budget, with options available through Poonawalla Fincorp.
To apply for a used car loan, you will need to provide documents such as identity proof, income proof, bank statements, address proof, and the vehicle’s registration certificate. These documents help in assessing your eligibility and approving the loan application.
You will be required to submit the following documentation: Identity Proof, Income Proof, Bank Statements and the Registration Certificate of the Vehicle.
If you need a top-up loan on your existing Used car loan, Poonawalla Fincorp allows this based on your eligibility and repayment history. This option helps you manage additional financial needs while keeping your current loan in place.
Yes, you can transfer your current car loan from another lender. This allows you to take advantage of potentially better terms and lower interest rates for your Used car loan.
Yes, pre-owned car financing is suitable for most people. The application process is pretty simple, with minimal documentation, and loan disbursal is quick, making it an accessible option for purchasing a used car.
No, there are no hidden charges associated with a Used car loan. All charges, including processing fees and prepayment charges, are transparently communicated to you before finalising the loan agreement.
Even if you have a low CIBIL score, you can still apply for a Used car loan. There are options for car loans without CIBIL checks, so you can get financing for your second-hand car without worrying about your credit score.
A Car Loan for a second-hand car helps you own a vehicle without financial strain by allowing you to spread the cost over a set repayment period. This makes purchasing a pre-owned car more affordable and easier to manage within your budget.