Buy a Second-hand car on EMI?
Buying a second-hand car on EMI is a financially wise decision. These cars come in good condition but at a reduced price and lower insurance rates; the EMI option further divides the total cost into smaller and equal instalments, making it one of the most sought-after options for buying a car.
Get a Small Personal Loan of up to ₹5 Lakh from Poonawalla Fincorp to buy a used car on EMI. Enjoy quick approval and disbursal with minimal documentation and easy application process. Read on to know how to apply, eligibility criteria and the documents required.
How to Buy a Second-hand Car on EMI Without a Credit Card?
Purchasing a second-hand car without a credit card is no longer tough. With Poonawalla Fincorp you can apply for a Small Personal Loan with 3 easy steps:
- Step 1: Click on the ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
- On successful verification, the loan amount will be disbursed into your bank account instantly.
Benefits of Buying a Second-hand Car on EMI
Here are 5 benefits of buying a second-hand car on EMI:
- Higher Loan Amount: Secure a loan of up to ₹5 Lakh with Poonawalla Fincorp’s Small Personal Loan.
- Quick Approval and Disbursal: Digital application makes the process quick and easy.
- Flexible Repayment Tenure: With a tenure of up to 36 months, manage monthly repayment easily. Use the loan EMI calculator to decide repayment tenure.
- Minimal Documentation: just provide your KYC documents and current address proof to get a Small Personal Loan.
- No Hidden Charges: All the charges and interest rates are clearly disclosed. There are no hidden charges.
Documents Required for a Small Personal Loan
To buy a second-hand car on EMI with a Small Personal Loan, you require the following documents:
-
KYC documents
-
Current proof of address
- KYC Documents: You must submit documents, such as PAN Card and Aadhaar Card details.
- Current Address Proof: Passport, utility bills, and rental agreements can be submitted as current address proof.
Eligibility Criteria of Small Personal Loan
A small Personal Loan from Poonawalla Fincorp has a simple eligibility criteria:
Age
Citizenship
Anuual Income
CIBIL Score
- Age: The applicant must be between 25 and 55 years old.
- Citizenship: The applicant must be an Indian citizen.
- Annual Income: The applicant’s annual household income must be at least ₹3 Lakh.
- CIBIL Score: The CIBIL score of the applicant must be 750 and above.
Apply for Instant Small Personal Loan within 5 Minutes
Now you can get a Small personal loan with minimum efforts. Just follow the below simple 2-step process and get an instant Small Personal loan online without any delay.
Apply
Online
Apply Online
Click on Apply Now and enter all your required contact details.
Verification
Verification
Application will then proceed for verification and assessment
Frequently Asked Questions
Buying a secondhand car comes with various benefits. Some of them are as follows:
- Higher loan amount.
- Lower interest rates, subject to your credit score.
- Flexible repayment period.
- Minimal documentation.
- Quick and easy application process and disbursal.
Yes, EMI is better than full payment as it does not interfere with your finances, and monthly payment makes it more accessible.
You can calculate the EMI on your secondhand car by using our EMI calculator. You only have to put loan amount, interest rate and tenure.
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