Loan Amount
Up to ₹75 Lakh
Interest Rate
Starting at 11%* p.a.
Loan Tenure
12-72 Months

Get a Pre-owned Car Loan in Madurai

Madurai is a major cultural centre in Tamil Nadu known for its historical significance, pilgrimage sites and festivals. It is an industrial hub in Tamil Nadu with several industries including IT, agriculture, manufacturing, etc. Purchase your desired car in this city with a Pre-owned Car Loan from Poonawalla Fincorp. Get a loan of up to ₹75 Lakh with minimal paperwork. Benefit from our attractive interest rates, flexible EMIs, loan of up to 100% of the car’s value and instant disbursal.

Why Choose Poonawalla Fincorp

Loan up to 100%
of Car's Value
Attractive Interest
Rate
Quick
Approval
Minimal
Paperwork
No Hidden
Charges
Online
Application Process

Pre-owned Car Loan EMI Calculator

Use our EMI calculator to estimate your monthly payments. Just enter the loan amount, interest rate and tenure to know your EMIs instantly. Calculate now!

Optimise Your Pre-Owned Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹200000
Interest Payable
₹5,493

Loan Amount

Interest Rate

%
11 %
30 %

Tenure

Months
12Months
72Months

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

Eligibility Criteria for a Pre-owned Car Loan in Madurai

Our eligibility criteria differ depending on whether you are salaried, self-employed or a firm/company and on other aspects like:

  • Age
  • Citizenship
  • Experience/Vintage
  • Occupation

Click to know more about our eligibility criteria in detail. 

Documents Required for a Pre-owned Car Loan in Madurai

Provide minimal documents to avail of a used car loan:

  • KYC Documents
  • Income Proof
  • Address Proof
  • Car Documents
  • Bank Account Statement

Click to know more about the necessary documents in detail. 

Interest Rate and Charges for a Pre-owned Car Loan in Madurai

Get our used car loan at attractive interest rates and nominal charges: 

Interest Rate
11%* p.a. onwards 
Loan Amount
₹2 Lakh to ₹75 Lakh
Loan Processing Fees
Up to 2%
Lowest EMI Per Month
Starting from ₹1903* per Lakh for 72 months
Loan Tenure
12-72 Months
Prepayment/Foreclosure Charges
4% plus applicable taxes
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500/- Per Bounce
Stamp Duty
At actuals (as per state)
Hidden Charges
Nil

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 Types of Cars You Can Buy with a Pre-owned Car Loan

  • Luxury cars 
  • Sedans 
  • SUVs 
  • MUVs 
  • Hatchbacks 

Who Can Get a Pre-owned Car Loan in Madurai

  • Salaried Employees  
  • Self-employed Individuals  
  • Firms or Companies 

Tips for a Successful Pre-owned Car Loan Application

  • Check the loan eligibility criteria 
  • Determine the loan amount based on your requirements 
  • Check your credit score 
  • Maintain a credit utilisation ratio of up to 30% 
  • Keep the required loan documents ready 
  • Avoid multiple loan applications 

Poonawalla Fincorp Branch Address in Madurai

Address: No. 12A, 4th Floor, ATP Tower, Bypass Road, Madurai, Tamil Nadu - 625016 

Contact Number: 1800-266-3201 (Toll Free) 

Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays.) 

*T&C Apply  

Get Funds Quickly With
Minimal
Documentation

1

Click 'Apply Now' Fill out the online form to start your loan application.

2

Upload Documents Provide your KYC documents to complete the verification.

3

Get Funds Get the loan amount
disbursed to your bank account.

Happy Customers, Happy Us

Get exclusive access to simplified
Personal Finance
Information at
Poonawalla Fincorp’s FinHub

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Frequently Asked Questions

Will my credit score be affected if I apply for a Pre-owned Car Loan?

Applying for a used car loan can impact your credit score. Once you apply for the loan, a hard inquiry is generated, which may result in your credit score to reduce by a few points. However, repaying your EMIs on time and maintaining a low credit utilisation ratio can help improve your credit score over time. 

What are the key advantages of getting a used car loan from Poonawalla Fincorp?

The main advantages of getting our used car loan include availing of a loan of up to 100% of the car’s value, no hidden charges, 100% online application process, flexible EMIs, minimal paperwork, swift approval and instant disbursal. 

 

What happens if I default on the EMIs of Poonawalla Fincorp’s used car loan?

If you miss an EMI payment on your second-hand car loan, you will have to pay a default interest of 24% p.a. + taxes of the overdue amount. It will also have a negative impact on your credit score.