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

Get a Used Luxury Car Loan Online

Owning a luxury car is a cherished dream for many Indians due to its superior performance, stylish design, comfort and overall appeal. However, as these vehicles usually come at a premium, purchasing a luxury car is not easy. Fortunately, you can realise your dream of becoming a luxury car owner with a Pre-owned Car Loan. Avail of a loan of up to ₹75 Lakh with flexible EMIs and minimal paperwork.

Poonawalla Fincorp, a trusted financial brand, offers a Pre-owned Car Loan for used luxury cars 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 Valuation
Attractive
Interest Rate
100% Online
Application
Flexible Repayment
Tenure
Quick
Approval
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 Pre-owned Car Loan for Used Luxury Cars

Although the eligibility criteria for availing of a loan for a used luxury car loan depend 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 Used Luxury Cars

Submit the required documents to avail of our Pre-owned 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 necessary documents in detail.

Interest Rate and Charges for a Used Luxury Car Loan

Poonawalla Fincorp offers a Pre-owned Car Loan for used Luxury 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 Luxury Car Loan

● Salaried Individuals

● Self-employed Professionals

● Firms/Companies

Tips for a Successful Pre-owned Car Loan Application

● Check your credit score

● Borrow only what you need

● Fulfil the eligibility criteria

● Keep the 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

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Frequently Asked Questions

1. Are there any foreclosure options for Poonawalla Fincorp’s used luxury car loan?

Yes, you can prepay or foreclose the loan amount for your second-hand car loan anytime during the loan tenure. If you foreclose the loan using your own funds, you don’t have to pay any charges. However, a 4% fee plus taxes is applicable if you foreclose the loan using other fund sources.

2. What is the lowest possible EMI for Poonawalla Fincorp’s Pre-owned Car Loan?

The lowest EMI for our second-hand car loan starts from ₹1,903 for a loan amount of ₹1 Lakh, an interest rate of 11%* p.a. and a loan tenure of 72 months.

3. How soon can I get approval for a Pre-owned Car Loan for used cars?

Poonawalla Fincorp offers quick approval and instant disbursal for second-hand car loans, provided you have fulfilled the eligibility criteria and submitted the relevant documents.