Minimum annual income - rupees 2,50,000 + their spouse's earnings.
Age limit - Minimum 21 years, Should not be older than 65 years at the end of the loan term.
Used Car Loan
Get up to 90% loan on your used
car purchase.
Quick Loan
Disbursal
Loan based on
car's current value
Low Rate Of
Interest
Interest Rates
Compare rates from multiple lenders, make an informed decision and save money on your car loan with the right rate.
Lender
Interest Rates
Poonawala Finance
10% - 16%
HDFC Bank
12.5% - 14%
ICICI Bank
11% - 15%
Axis Bank
14% - 16%
Tata Capital
10.50% - 15%
Kotak Mahindra Bank
13.5% - 20%
Bajaj Finance
14.50%
Hero Fincorp
16% - 16.5%
Kofta Finance
18%
AU FInance
18%
Mahindra Finance
20%
Used Car Loan Eligibility
Understand the requirements and Maximise your chances of getting approved for a used car loan.
Salaried
Individuals
Self-Employed
Individuals
Minimum annual income - rupees 2,50,000.
Business criteria - Individuals who have been in business for at least 3 years.
Age limit - Minimum 21 years, Should not be older than 65 years at the end of the loan term.
Documents
Required
These are the basic documents required to get you started.
* The final list of documents necessary is determined by the lender you apply with and your personal profile.
For example: For used car loan if you take 10,00,000/- Rs. loan amount at a rate of ideal rate IRR 11% for a tenure of 5 years/60 Months, your EMI will be 21,742/-Rs.
Processing fees , document charges , stamp duty charges and related charges applicable as per banks will be disclosed directed via bank. And once it confirmed from your end, then only disbursement will be processed. We intend to keep no hidden charges and educate the customer in clear terms in all regards.
Minimum tenure period of 3 years and maximum 7 years depending on your income and vehicle age.
These numbers are indicative and final interest rate or fee may vary from one user to another depending on the credit assessment.
Documents
Required
Salaried
Individuals
Self-Employed
Individuals
Aadhar card
PAN Card
Registration Certificate of the car
GST Certificate/Udhyam Registeration certificate/Shop Act
Account statement (latest 6 months)
Latest electricity bill
Passport size photo
Last 2 years ITR as proof of income
Salary Slip (latest 3 months)
Latest 2 years form 16