Used Vehicle Loan
Get a Used Car Loan & Drive Home Your Dream Car!
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Used vehicle loan
A Used Vehicle Loan helps you buy a second-hand vehicle without paying the full amount upfront. You can take a loan and repay it in easy EMIs over a set period.Key Features
✔️Get upto 100% loan for a pre-owned car value.
✔️Get a loan on a wide range of cars and multi-utility vehicles.
✔️Receive a Used Car Loan of up to 3 to 6 times your annual income.
✔️The age of your car at loan maturity should not exceed 10 years.
✔️The maximum loan tenure you can select is 60 months.Fees & Charges
✔️Interest Rate : 12% Onwards
✔️File charge: min 1% + GST (depends on bank)
✔️Vehicle Valuation/Asset Verification Charges*: Rs. 750/- (Depends on bank) -
Target Audience
✔️People looking for affordable vehicle financing. (second-hand vehicle)
✔️Salaried & self-employed individuals
✔️Minimum age: 21 years
✔️ Customer with stable income from either of the following sources:
=> Salaried Individuals – Earning a fixed monthly salary from a company or organization.
=>Self-Employed Professionals – Doctors, lawyers, consultants, or freelancers with regular business income.
=>Business Owners – Entrepreneurs running small or medium-sized businesses with consistent earnings.Documents Required
1.PAN Card
2.Aadhaar Card
3.RC (Registration certificate)
4.Insurance
5.Light bill
6.Mobile Number -
Step by step process
✔️ Share the product link with customers planning to buy a second-hand car or commercial vehicle.
✔️ Ask the customer to enter basic details:
-First Name, Last Name
-Date of Birth (DOB)
-Email Address, Mobile Number
-Gender, Pincode
✔️ Click ‘Submit’ to complete the request.
✔️ A representative will contact the customer for the next steps. -
1. What is a Used Car Loan?
A Used Car Loan helps you finance the purchase of a second-hand car, allowing you to pay in easy EMIs2. Who can apply for a Used Car Loan?
Anyone with a stable income, either salaried or self-employed, who is 21 years or older and has a valid PAN and Aadhaar card can apply.3. How much loan amount can I get?
The loan amount depends on the car's value, your income, and the lender’s policies. Some banks offer up to 100% of the car’s price.4. What documents are required?
-PAN Card & Aadhaar Card
-Income proof (Salary slips or ITR for self-employed)
-Address proof
-Bank statements
-Vehicle details5. What is the loan tenure?
Typically, tenure ranges from 12 to 60 months, depending on the lender.6. How is the interest rate decided?
The interest rate depends on your credit score, income stability, and lender policies. A higher credit score may get you a lower interest rate.
