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

Get a Pre-owned Car Loan in Mumbai With Flexible EMIs

Mumbai, the financial capital of India, is known for its lavish lifestyle, commerce and culture. Explore the “city of dreams” with your own car by financing your purchase with a Pre-owned Car Loan from Poonawalla Fincorp.

Get up to ₹75 Lakh with flexible loan terms, attractive interest rates, hassle-free documentation, and zero hidden charges. Apply now!

Why Choose Poonawalla Fincorp

Affordable
Interest Rates
Flexible
Repayment Tenure
Minimal
Documentation
Zero
Hidden Charges
Quick
Approval
Swift
Disbursal

Pre-owned Car Loan EMI Calculator

Calculate your monthly instalments using our online EMI calculator. Simply enter the loan amount, tenure, and interest rate to get results. Calculate now!

Optimise Your Pre-Owned Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹100000
Interest Payable
₹5,493

Loan Amount

Rupees one lakh

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 Mumbai

The eligibility criteria for a second-hand car loan vary based on whether you are a salaried individual, self-employed or a firm/company depending on aspects like:

  • Age Limit
  • Nationality
  • Work Experience
  • Business Vintage

Click to know more about the eligibility criteria in detail. 

Documents Required for a Pre-owned Car Loan in Mumbai

Apply for our used car loan with minimal documentation:

  • KYC Documents
  • Financial Documents
  • Bank Statements
  • Address Proof
  • Car Documents

Click to know more about the documentation in detail. 

Interest Rate and Charges for a Used Car Loan in Mumbai

Benefit from our competitive interest rates and nominal charges:

Interest Rate
11% p.a. onwards 
Loan Amount
₹1 Lakh - ₹75 Lakh
Loan Processing Fees
Up to 1% plus applicable taxes
Lowest EMI Per Month
Starting from ₹1903* per Lakh for 72 months
Loan Tenure
12 - 72 months
Prepayment/Foreclosure Charges
0% if paid from own sources
4% if paid from other sources
Default Charges
24% p.a. + taxes
Repayment Instrument Dishonour Charges
₹500 per bounce plus applicable taxes
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 Used Car Loan

  • Hatchbacks 

  • Sedans 

  • SUVs 

  • MPVs 

  • Electric vehicles 

Who Can Get a Pre-owned Car Loan in Mumbai

  • Self-employed individuals  

  • Salaried Individuals 

  • Companies or firms 

Tips for a Successful Second-hand Car Loan Application

  • Use the EMI calculator to plan your EMIs 

  • Maintain a CIBIL score of 750 or above 

  • Check your credit report for accuracy 

  • Gather the necessary documents in advance 

  • Fill out the loan application carefully  

  • Apply for a loan according to your budget 

Poonawalla Fincorp Branch Address in Mumbai

Poonawalla Fincorp Limited 

Address: Unit No. 73, 7th floor, Kalpataru Square, Kondivita Lane, Andheri-Kurla Road, Andheri (East), Mumbai, Maharashtra -400059 

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

1. How can I calculate the monthly instalments for a used car loan?

You can calculate your used car loan EMIs using our online EMI calculator. Simply enter your loan amount, the interest rate, and the loan tenure. Our EMI calculator will display the monthly instalment amount instantly. 

2. How can I reduce the EMI on my Pre-owned Car Loan?

You can reduce your Pre-owned Car Loan monthly instalment by extending the loan tenure and paying a higher down payment amount to the lender. In addition, you can negotiate with your lender to lower the interest rate. 

 

3. What documents do I need to submit when applying for a Pre-owned Car Loan in Mumbai?

The documents required may vary based on whether you are a salaried individual, self-employed person or firm/company. The basic documents required are: 

  • KYC Documents  

  • Financial Documents 

  • Bank Statements 

  • Address Proof 

  • Car Documents 

Click to know more about the documentation in detail.