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

Get a Used Electric Car Loan Online

With several advantages like lower carbon footprint, lower running costs and maintenance, electric cars have gained popularity as a mode of sustainable transportation. However, as these vehicles come at a premium price, owning an electric car remains an unfulfilled dream for many. Thankfully, you can opt for a used car loan to purchase an electric vehicle at affordable EMIs.

Get behind the wheel in your dream car with a used electric car loan. Avail of a loan of up to ₹75 Lakh with flexible EMIs and minimal paperwork. As a trusted financial lender, Poonawalla Fincorp offers a Pre-owned Car Loan with attractive interest rates, a loan of up to 100% of the car’s value and quick approval. Apply now!

Why Choose Poonawalla Fincorp

Up to 100%
of Car’s Value
Attractive
Interest Rate
100% Online
Application
Minimal
Documentation
Flexible Repayment
Tenure
No Hidden
Charges

Pre-owned Car Loan EMI Calculator

Plan your monthly repayments with our user-friendly calculator. Just enter the loan amount, interest rate, and tenure to view your EMI instantly. Try it 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 Used Electric Car Loan

While our eligibility criteria differ based on whether you are salaried, self-employed or an established firm/company, here are some of the main details:

  • Age limit:
    • For salaried employees: 24-60 years
    • For self-employed individuals: 24-65 years
    • For a proprietor, partner or director of a firm/company: At least 24 years

  • Nationality: Indian

  • Work experience (for salaried):
    • Loan amount of up to ₹10 Lakh: At least 3 months in current employment with total work experience of 12 months
    • Loan amount of ₹10 Lakh to ₹75 Lakh: At least 6 months in current employment with total work experience of 24 months

  • Business vintage (for self-employed):
    • Loan amount of up to ₹10 Lakh: Minimum 24 months in current business
    • Loan amount of ₹10 Lakh to ₹75 Lakh: Minimum 36 months in current business

  • Business vintage (for firm or company): Should be in the same business for at least 2 years

Click to know more about our eligibility criteria in detail.

Documents Required for a Used Electric Car Loan

Submit the required documents based on whether you are salaried, self-employed or an established firm/company to avail of this loan:

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

Click to know more about the documents required in detail.

Interest Rate and Charges for a Used Electric Car Loan

Poonawalla Fincorp offers a Pre-owned Car Loan for used electric cars at attractive 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

Who Can Get a Used Electric Car Loan

● Salaried Individuals

● Self-employed Professionals

● Firms/Companies

Tips for Successful Used EV Car Loan Application

● Check your credit score

● Match all eligibility criteria

● Choose the right car

● Keep necessary documents handy

● Avoid multiple loan applications

● Consider a co-applicant to strengthen your application

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

rightArrow
rightArrow

Frequently Asked Questions

1. What is the maximum loan amount for a Pre-owned Car Loan for Used EVs from Poonawalla Fincorp?

We offer a Pre-owned Car Loan of up to ₹75 Lakh to purchase a second-hand electric car. However, your final loan amount depends on your credit profile and repayment capacity.

2. What is the loan tenure for a Pre-owned Car Loan?

At Poonawalla Fincorp, you can choose a repayment period ranging from 12 to 72 months. Longer tenures offer lower EMIs, while shorter ones reduce overall interest costs.

3. What factors impact the eligibility for a second-hand car Loan?

Many factors determine your eligibility for a used car loan, including your credit score, income, employment stability, market value and condition of the car, etc. At Poonawalla Fincorp, we also consider your debt-to-income ratio and overall financial health while evaluating your eligibility for availing of a used car loan.