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 SUV Cars Instantly

A sports utility vehicle (SUV) is ideal for spontaneous off-road trips because of its spacious interiors, performance, passenger comfort, and safety. However, it comes at a premium, which makes purchasing this car difficult. Thankfully, you can fulfil your aspiration of buying an SUV of your choice with a Pre-owned Car Loan.

Get a loan of up to ₹75 Lakh with flexible EMIs and minimal paperwork. We at Poonawalla Fincorp offer a cost-effective used car loan for SUVs with 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 Value
Attractive
Interest Rate
Minimal
Documentation
Flexible
Repayment Tenure
Quick
Approval
No Hidden
Charges

Pre-owned Car Loan EMI Calculator

Plan your monthly repayments with our user-friendly EMI calculator for a used car loan. 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 Car Loan for SUVs

Although the eligibility criteria for availing of a pre-owned SUV car loan differs based on whether you are salaried, self-employed or an established firm/company, here are some of the main details:

Although the eligibility criteria for availing of a pre-owned SUV car loan 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 Used SUV Car Loan

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 necessary documents in detail. 

Interest Rate and Charges for a Used Car Loan for SUV

We offer a Pre-owned Car Loan for SUVs 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 Pre-owned Car Loan for SUV Cars

  • Salaried Individuals 

  • Self-employed Professionals  

  • Firms/Companies 

Tips for a Successful Used Car Loan Application

  • Fulfil the eligibility criteria 

  • Check your credit score 

  • Maintain a low debt-to-income ratio 

  • Avoid multiple loan applications 

  • Keep the required documents handy 

  • Add a co-applicant to strengthen your loan 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. What address proof documents should salaried individuals submit for a used car loan?

A salaried individual needs to submit:  

  • Passport 
  • Driving License 
  • Voter ID 
2. What is the penalty for defaulting on EMI payments for a used SUV car loan?

If you miss the EMI payments for your second-hand car loan, a penalty of 24% p.a. + taxes is applicable on the outstanding amount.  

3. What is the CIBIL score required for a Pre-owned Car Loan for SUVs?

A CIBIL score of 750 and above increases your chances of getting our second-hand car loan approval at lower interest rates and favourable loan terms.