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

Avail of a Pre-owned Car Loan in Salem Instantly

Salem is a major pilgrimage city in Tamil Nadu with the presence of several temples. Its economy is dependent on major industries, such as textile, steel, silver jewellery, etc. Purchase a car in this city and ensure a hassle-free daily commute with a Pre-owned Car Loan from Poonawalla Fincorp. Get a loan of up to ₹75 Lakh with competitive interest rates, a loan of up to 100% of the car’s value, flexible EMIs and instant disbursal. Apply now!

Why Choose Poonawalla Fincorp

Loan up to 100%
of Car’s Value
Attractive
Interest Rate
Online Application
Simple Eligibility
Criteria
No Hidden
Charges
Quick
Approval

Pre-owned Car Loan EMI Calculator

Make use of our online EMI calculator to plan your monthly repayments. Just enter the loan amount, tenure, and interest rates to know your EMIs. Try 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 Salem

Our eligibility criteria depend 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 Salem

Upload just a few documents:

  • 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 Used Car Loan in Salem

Get our used car loan with competitive interest rates and nominal charges:

Interest Rate
11%* p.a. onwards 
Loan Amount
₹2 Lakh - ₹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. plus taxes
Repayment Instrument Dishonor 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 Cars You Can Buy With a Used Car Loan

  • Hatchbacks
  • Sedans
  • Premium cars
  • SUVs
  • MUVs
  • Crossovers

Who Can Get a Pre-owned Car Loan in Salem

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

Tips for a Successful Used Car Loan Application

  • Check the eligibility criteria
  • Decide the loan amount based on your requirements
  • Maintain a low debt-to-income ratio
  • Check your credit score
  • Keep the required documents ready
  • Avoid multiple loan applications

Poonawalla Fincorp Branch Address in Salem

Poonawalla Fincorp Limited Address: No 258/2, 2/91, 2nd Floor, Sri Vaari Shopping Mall, New Bus Stand Main Road, Meyyanur, Salem, Tamil Nadu-636004

Contact Number: 1800-266-3201 (Toll Free)
Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays)

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

Can I get a Pre-owned Car Loan with a low credit score?

Having a low credit score reduces your chances of getting a used car loan at favourable interest rates and better terms. Ensure that your credit score is 750 or above to increase your chances of getting approval on your second-hand car loan application.

What is the lowest EMI for a used car loan from Poonawalla Fincorp?

The lowest EMI for our second-hand car loan is ₹1903 for a loan amount of ₹2 Lakh, with an interest rate of 11%* p.a. and a loan tenure of 72 months.

What is the processing fee for Poonawalla Fincorp’s second-hand car loan?

We charge a nominal processing fee of up to 2% (plus applicable taxes) for our used car loan.