Loan Amount
Up to ₹5 Lakh
Interest Rate
Starting at 16%* p.a.
Loan Tenure
12 to 36 Months

Buy Second-hand Car on EMI

Buying a second-hand car on EMI is a great way to reduce ownership costs and purchase luxury or performance-oriented automobiles on a budget. Poonawalla Fincorp’s Instant Loan of up to ₹5 Lakh can fund a second-hand car purchase on easy monthly instalments. Secure funds instantly with an online application process using minimal documentation and quick approval of the final loan amount. Finance your used car purchase on EMI with benefits like flexible EMI options, zero hidden charges, collateral-free borrowing and more. Apply now!

Why Choose Poonawalla Fincorp

Collateral-free
Loan
Competitive
Interest Rate
Minimal
Documentation
Flexible
Tenure
Online
Application
Zero
Hidden Charges

Instant Loan EMI Calculator

Plan your monthly repayments using our EMI calculator. Enter the loan amount, interest rate, and loan tenure to calculate your loan EMIs. Calculate now!

Optimise Your Personal Loan Experience
With Monthly Budget Planning

Monthly Payable Amount₹8,791
Principal Amount
₹50000
Interest Payable
₹5,493

Loan Amount

Rupees one lakh

Interest Rate

%
16 %
36 %

Tenure

Months
12Months
36Months

Apply for an Instant Loan Online

Click on "Apply Now”

Tap the Apply Now button to initiate your application.

Enter Details

Enter your DOB, PAN card number, monthly income, KYC Details and residential details.

Instant Disbursement

The loan amount will be credited to your bank account instantly.

Get exclusive offers thoughtfully customised just for you

Eligibility Criteria for an Instant Loan

Access our flexible financing solution instantly by meeting our simple eligibility criteria:

  • Age: Between 25 and 55 years.
  • Citizenship: Indian.
  • Annual Income: At least ₹3 Lakh.
  • Credit Score: 750 and above.

Documents Required for an Instant Loan

Submit just a few essential documents:

  • KYC Documents: Aadhaar Card and PAN Card.
  • Current Address Proof: Passport, Utility Bills, and Rent Agreement.

Interest Rate and Charges for an Instant Loan

We offer an Instant Loan with attractive interest rate and nominal charges:

Interest Rate
16%*p.a. onwards
Loan Amount
₹50,000 to ₹5 Lakh
Loan Processing Fees
upto 4.5%
Loan Tenure
1 – 36 months
Prepayment/Foreclosure Charges
0% if paid from own sources
4% if paid from other sources
Default Charges
24% p.a. plus 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

Benefits of Buying a Second-hand Car on EMI

  • Get your dream car without expending hard-earned savings.  
  • Repay conveniently with flexible EMI options.  
  • Instantly secure up to ₹5 Lakh funds for your purchase.  

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. What are the benefits of buying a second-hand car on EMI?

Buying a used car on EMI is a great way to reduce the ownership costs of buying your dream vehicle without budget constraints.  

 

2. How can I purchase a used car on EMI?

You can buy a second-hand car on EMI with Poonawalla Fincorp’s Instant Loan and repay conveniently with our flexible EMI options.  

3. How much Instant Loan can I get to buy a second-hand car on EMI?

You can secure an Instant Loan of up to ₹5 Lakh from Poonawalla Fincorp to purchase a second-hand car on EMI. The final loan amount is determined after checking your eligibility, credit report and various other factors.  

4. Can I get flexible repayment tenure for buying a second-hand car on EMI?

Yes. Poonawalla Fincorp provides Instant Loans with flexible EMI options for up to 36 months. The flexible repayment tenure ranges from 1 – 36 months.