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

Apply for a Pre-owned Car Loan for a Hatchback Car Instantly

A hatchback car offers several benefits due to its compact size, including affordability, fuel efficiency and easier city commute. However, instead of purchasing a brand-new model that can burn a hole in your pocket, avail of easy credit financing to purchase a used hatchback car. Own the car of your choice with a used hatchback car loan. Secure a loan of up to ₹75 Lakh with simple eligibility criteria and swift approval.

At Poonawalla Fincorp, we offer a cost-effective solution with our used hatchback car loan at attractive interest rates, a loan of up to 100% of the car’s value and instant disbursal. Apply now!

Why Choose Poonawalla Fincorp

Up to 100%
of Car’s Valuation
Attractive
Interest Rate
Minimal
Documentation
Flexible Repayment
Tenure
Swift
Disbursal
No Hidden
Charges

Pre-owned Car Loan EMI Calculator

Plan your monthly repayments with our user-friendly EMI calculator for a used car loan. Enter the loan amount, interest rate, and tenure to instantly view your EMI. 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 Pre-owned Car Loan for Hatchback Cars

Although the eligibility criteria for availing of a Pre-owned Car Loan for a Hatchback car differs 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 Pre-owned Car Loan for Hatchback Cars

Submit the necessary documents to avail of our second-hand car loan based on whether you are salaried, self-employed or an established firm/company:

  • 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 Car Loan

We offer a second-hand car loan for used Hatchback cars at 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

Who Can Get a Pre-owned Car Loan for a Hatchback Car

● Salaried Individuals

● Self-employed Professionals

● Firms/Companies

Tips for a Successful Used Car Loan Application

● Check your credit score

● Borrow only what you need

● Fulfil the eligibility criteria

● Keep the required documents handy

● Add a co-applicant to strengthen your loan application

● Avoid multiple loan applications

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 get a used hatchback car loan on favourable terms?

You can get our second-hand car loan at competitive interest rates and favourable loan terms by maintaining a credit score of 750 or more. To maintain a high credit score, ensure that you repay your debts on time, review your credit report for inaccuracies, maintain a credit utilisation ratio below 30%, etc.

2. What is the maximum loan amount for Poonawalla Fincorp's used car loan?

You can avail of a maximum loan amount of ₹75 Lakh on our used car loan. We provide a loan of up to 100% of the car’s value depending on your credit profile, repayment capacity and the car's condition.

3. Is paying foreclosure fee necessary for a used car loan?

You do not need to pay any foreclosure fee for our second-hand car loan if you foreclose the loan using your fund sources. However, if you foreclose the loan using other fund sources, you must pay a foreclosure charge of 4% of the outstanding loan amount (plus taxes).