Get a Pre-owned Car Loan in Bhopal
Bhopal, known as the city of lakes, has multiple large-scale industries in pharma, automobiles, textiles, electronics, etc. The city also has a growing market for used cars in India. Buy your favourite car in this city to ensure hassle-free travel with a Pre-owned Car Loan from Poonawalla Fincorp. Get a loan of up to ₹75 Lakh with minimal paperwork and instant disbursal. Benefit from our attractive interest rates, flexible tenure, high LTV ratio and instant approval. Apply now!
Why Choose Poonawalla Fincorp
Up to 100% of Car’s Value
Attractive Interest Rate
Minimal Paperwork
Flexible Loan Tenure
Instant Disbursal
No Hidden Charges
Pre-owned Car Loan EMI Calculator
Estimate your monthly payments with our user-friendly EMI calculator. Slide the bar to enter the loan amount, interest rate and tenure to know your EMI instantly. Try now!
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.
Used Car Loan EMI Calculator
Calculating your EMIs is a breeze with Poonawalla Fincorp’s Pre-owned Car Loan EMI calculator. Simply enter your loan amount, interest rates, and tenure to plan your EMIs effortlessly.
What is a Used Car Loan EMI Calculator?
Used Car Loan EMI Calculator helps you calculate your EMIs. Adjust the loan tenure, amount, and interest rate to match your monthly budget.
How to Use a Pre-owned Car Loan EMI Calculator?
Step 1: Visit the calculator webpage.
Step 2: Enter the loan amount you require.
Step 3: Fill in the per annum interest rate.
Step 4: Enter the loan duration under section ‘Tenure’ in years.
View the results under the section ‘EMI Amount’.
Components Affecting the EMIs of a Second-hand Car Loan
By understanding the factors that influence your loan EMIs, you can take control of your repayments, making decisions that align with your financial goals:
- Sanction Amount: The amount of the loan you choose is the primary factor that affects your loan EMIs. A higher loan amount results in a higher EMI.
- Interest Rate: The interest rate directly affects your monthly EMIs. A higher interest rate leads to a higher EMI.
- Loan Tenure: The repayment tenure can be flexible. The longer the loan tenure, the lower the EMIs, and vice versa. However, longer tenure increases the overall borrowing cost.
Tips to Reduce EMIs on a Pre-owned Car Loan
Manage your EMIs efficiently by:
- Opting for a longer tenure on the loan.
- Making a higher down payment on the loan.
- Negotiating for a lower interest rate.
Amortization Schedule
An amortization schedule provides a clear breakdown of monthly repayments, including interest paid and principal amount. It helps understand how the loan balance decreases over time as you repay the amount every month through EMIs.
Eligibility Criteria for a Pre-owned Car Loan in Bhopal
Our eligibility requirements depend on whether you are salaried, self-employed or a firm/company and on aspects like:
- Age
- Citizenship
- Occupation
- Experience/Vintage
Click to know more about our eligibility criteria in detail.
Documents Required for Pre-owned Car Loan in Bhopal
Submit minimal documents to avail of a second-hand car loan:
- KYC Documents
- Income Proof
- Address Proof
- Car Documents
- Bank Account Statement
Click to know more about the required documents in detail.
Interest Rate and Charges for a Used Car Loan in Bhopal
We offer a used car loan with competitive interest rates and minimal 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
Different Cars to Buy with a Used Car Loan
- Compact SUVs
- SUVs
- Hatchbacks
- Premium cars
- Sedans
Who Can Get a Pre-owned Car Loan in Bhopal
- Salaried Employees
- Self-employed Professionals
- Companies or Firms
Tips for a Successful Pre-owned Car Loan Application
- Check the eligibility criteria
- Determine the loan amount based on your requirements
- Check your credit score
- Maintain a lower debt-to-income ratio
- Keep the required documents ready
- Avoid multiple loan applications
Poonawalla Fincorp Branch Address in Bhopal
Poonawalla Fincorp Limited
Address: 1st Floor, Mahaveer Avenue, Plot No.2, R-2, Zone-01, Maharana Pratap Nagar, Bhopal, Madhya Pradesh-462011
Contact Number: 1800-266-3201 (Toll Free)
Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays.)
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Personal Finance
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Poonawalla Fincorp’s
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Frequently Asked Questions
Self-employed individuals applying for Poonawalla Fincorp's second-hand car loan need to fulfil these requirements:
- For a loan amount of up to ₹10 Lakh, you need at least 2 years in your current business.
- For a loan amount between ₹10 lakh and ₹75 lakh, your total business experience should be at least 3 years.
A salaried individual needs to submit:
- Aadhaar Card
- Voter ID Card
- PAN Card
- Driving License
- Passport
You can get a maximum loan amount of up to ₹75 Lakh to purchase your favourite used car. We offer a loan of up to 100% of the car’s value pledged as collateral. The final loan amount applicable depends on your monthly income, credit score, market value and condition of the car, repayment capacity, etc.
Discover More with
Other Loan Options to Suit Your Needs
Happy Customers, Happy Us
I opted for a Loan Against Property balance transfer with Poonawalla Fincorp, and the experience exceeded my expectations. The application process was completely digital, quick, and required minimal paperwork. Getting a significantly lower interest rate helped me reinvest in my business. With better financial flexibility, I was able to scale operations efficiently, leading to a 30% increase in business turnover. Poonawalla Fincorp made the entire journey stress-free, and I highly recommend their services to any business owner looking for smart financial solutions.
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!
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
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!
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.