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Used Car Loan

Used Car Loan is a financial product designed to help individuals purchase pre-owned vehicles by providing the necessary funds upfront. These loans offer flexible repayment options and competitive interest rates, making it easier to own a car without a significant one-time financial burden.

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Acceptance Criteria

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  • All the individual borrowers/professionals/reputed firms/companies.
  • Individuals
    • Salaried Individuals Minimum gross salary of Rs 3.00 Lakh p.a.
    • Other than Salaried Individuals Minimum gross annual income of Rs.3.00 Lakh p.a. as per latest ITR/ITAO subject to 3 years Gross Average Annual Income of not less than Rs. 2.50 Lakh.
  • Corporates

    With subject to the satisfactory credit worthiness in respect of firms/companies by their net worth, repaying capacity, etc.

  • Loan for All Vehicle Types: Available for various car brands and models, depending on the age and condition of the vehicle.
Loan Amount Offer
Loan Amount Offer : 75 Lakhs
Rate of Interest(%)
Minimum ROI Start From : 9.50 % P.A.
Maximum ROI : 16.00 % P.A.
Tenure
Minimum Tenures : 3 Year
Maximum Tenure : 4 Years
Documents Required for Loan

  • KYC Documents:

    • Aadhaar Card, PAN Card, Passport, or Driving License.

  • Income Proof:

    • Salary slips (last 3 months) or bank statements (last 6 months).
    • For self-employed, ITR for the last 2 years.

  • Car Details:

    • Registration Certificate (RC), Insurance Papers, and valuation report (if required).

  • Photographs:

    • Recent passport-sized photographs of the applicant.
Golden Features and Benifits
  • Affordable way to own a car without large upfront costs.
  • Flexible repayment plans tailored to the borrower’s financial situation.
  • Builds credit score with timely repayments.
  • Fast disbursement helps secure the car quickly.