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

Get a Pre-owned Car Loan in Ludhiana With Quick Approval

Ludhiana is an important industrial city in Punjab known for its historical forts, monuments and local cuisine. Own the car of your choice in this city with a Pre-owned Car Loan from Poonawalla Fincorp. Avail of a loan of up to ₹75 Lakh with minimal paperwork.

Benefit from our competitive rates, flexible EMIs, loan of up to 100% of the car’s value and instant disbursal. Apply now!

Why Choose Poonawalla Fincorp

Loan up to 100%
of Car's Value
No Hidden
Charges
Swift Loan
Approval
Instant
Disbursal
Minimal
Documentation
Competitive Interest
Rate

Pre-owned Car Loan EMI Calculator

Plan your monthly repayments instantly with our online EMI calculator. Slide the bar to enter the loan amount, tenure and interest rate. Use 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.

Used Car Loan EMI Calculator

Calculating your EMIs is a breeze with Poonawalla Fincorp’s Pre-owned Car Loan EMI calculator. Simply enter your loan amount, interest rates, and tenure to plan your EMIs effortlessly.

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

What is a Used Car Loan EMI Calculator?

Used Car Loan EMI Calculator helps you calculate your EMIs. Adjust the loan tenure, amount, and interest rate to match your monthly budget.

How to Use a Pre-owned Car Loan EMI Calculator?

Step 1: Visit the calculator webpage.

Step 2: Enter the loan amount you require.

Step 3: Fill in the per annum interest rate.

Step 4: Enter the loan duration under section ‘Tenure’ in years.

View the results under the section ‘EMI Amount’.

Components Affecting the EMIs of a Second-hand Car Loan

By understanding the factors that influence your loan EMIs, you can take control of your repayments, making decisions that align with your financial goals:

  • Sanction Amount: The amount of the loan you choose is the primary factor that affects your loan EMIs. A higher loan amount results in a higher EMI.
  • Interest Rate: The interest rate directly affects your monthly EMIs. A higher interest rate leads to a higher EMI.
  • Loan Tenure: The repayment tenure can be flexible. The longer the loan tenure, the lower the EMIs, and vice versa. However, longer tenure increases the overall borrowing cost.

Tips to Reduce EMIs on a Pre-owned Car Loan

Manage your EMIs efficiently by:

  • Opting for a longer tenure on the loan.
  • Making a higher down payment on the loan.
  • Negotiating for a lower interest rate.

 

Amortization Schedule

An amortization schedule provides a clear breakdown of monthly repayments, including interest paid and principal amount. It helps understand how the loan balance decreases over time as you repay the amount every month through EMIs.

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Eligibility Criteria for a Pre-owned Car Loan in Ludhiana

Our eligibility criteria depend on whether you are salaried, self-employed or a firm/company and on aspects like:

  • Age
  • Citizenship
  • Experience/Vintage
  • Occupation

Click to know more about our eligibility criteria in detail. 

Documents Required for a Pre-owned Car Loan in Ludhiana

Provide minimal documents to avail of a used car loan:

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

Click to know more about the necessary documents in detail. 

Interest Rate and Charges for a Pre-owned Car Loan in Ludhiana

Get our second-hand loan at attractive interest rates and nominal charges:

Interest Rate
11%* p.a. onwards 
Loan Amount
₹1 Lakh to ₹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

Different Types of Cars to Buy with a Pre-owned Car Loan

  • Luxury Cars 

  • Pre-owned sedans 

  • SUVs 

  • Hatchbacks 

  • Crossovers 

Who Can Get a Used Car Loan in Ludhiana

  • Salaried Employees  

  • Self-employed Individuals  

  • Firms or Companies 

Tips for a Successful Pre-owned Car Loan Application

  • Check the eligibility criteria 

  • Decide the loan amount based on your requirements 

  • Check your credit score 

  • Keep all the necessary documents handy 

  • Avoid multiple loan applications 

Poonawalla Fincorp Branch Address in Ludhiana

Address: 7th Floor, SCO 10 & 11, Feroz Gandhi Market, Above DCB Bank Ludhiana, Punjab-141001 

Contact Number: 1800-266-3201 (Toll Free) 

Timing: 10 am – 6:30 pm (Weekly off on first and second Saturdays and all Sundays.) 

*T&C Apply  

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 a salaried employee submit to get a Pre-owned Car Loan?

A salaried individual needs to submit:  

  • Driving License 

  • Voter ID 

  • Passport 

2. What is the penalty for missing an EMI for Poonawalla Fincorp’s used car loan?

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

 

3. Can I get a second-hand car loan from Poonawalla Fincorp without income proof?

No, you cannot get our used car loan without submitting your proof of income. The income documents help us ascertain whether you have a stable income and whether you can repay the loan. These documents differ depending on whether you are salaried, self-employed or a firm/company. 

Happy Customers, Happy Us