Used Car Loan
Drive Your Dream Car Today. Pay Later.
Get up to ₹50 lakh used car loan with interest rates starting at just 8.5% p.a. Fast approval, minimal paperwork, flexible tenure.
Approval in 24 hrs
Minimal docs
15+ partner banks
100% secure
₹50L+
Max loan amount
8.5%
Starting interest
7 yrs
Max tenure
Apply for Used Car Loan
Free check · No credit score impact
EMI Calculator
Calculate Your Monthly EMI
Adjust the sliders to see your estimated monthly payment instantly.
Your estimated EMI
Monthly payment
₹16,134
per month for 36 months
Principal amount
₹5,00,000
Total interest
₹80,821
Total amount
₹5,80,821
Principal
Interest
Why choose us
Everything You Need in One Loan
We make used car financing simple, transparent, and fast — from application to key handover.
Fast Approval
Get your loan approved within 24 hours. In many cases, same-day disbursal is possible for salaried applicants.
Low Interest Rates
Starting at just 8.5% p.a., we help you compare offers from 15+ banks and NBFCs to find the best rate for you.
100% Online Process
Apply from your phone or laptop. Upload documents digitally — no branch visits, no queues, no hassle.
Flexible Tenure
Choose a repayment tenure from 1 to 7 years to match your monthly budget and financial goals.
All Car Ages Covered
Financing available for cars up to 10 years old. Both petrol and diesel vehicles are eligible.
No Hidden Charges
Full transparency on processing fees, foreclosure charges, and prepayment terms — no surprises.
Process
How to Get Your Loan in 4 Easy Steps
The entire journey from application to disbursal takes as little as 24–48 hours.
1
Fill the Form
Enter your basic details and loan requirements on our secure form above.
2
Compare Offers
Receive customised loan offers from multiple banks and NBFCs instantly.
3
Upload Documents
Submit KYC, income proof, and car details digitally — fully paperless.
4
Get Disbursal
Loan amount is transferred directly to the seller or dealer within 24 hrs.
Requirements
Eligibility & Documents
Most working Indians qualify. Check the basic criteria and keep these documents handy.
Eligibility criteria
-
✓Age between 21 and 65 yearsAt the time of loan application
-
✓Minimum monthly income ₹15,000Salaried or self-employed
-
✓CIBIL score 650 or aboveLower scores may be considered case by case
-
✓Car not older than 10 yearsAt the end of loan tenure
-
✓Indian resident with valid KYCAadhaar + PAN mandatory
Documents required
Identity & Address
- Aadhaar card
- PAN card
- Passport / Voter ID
- Recent utility bill
Income proof
- Last 3 salary slips
- 6-month bank statement
- ITR (2 years)
- Form 16
Vehicle documents
- RC book (original)
- Insurance copy
- Valuation report
- Form 29 / 30
Our lenders
Top Bank Offers at a Glance
We work with 15+ lenders to get you the best possible rate. Here are some popular options.
SBI Car Loan
From 9.15% p.a.
Max loan₹50 Lakh
TenureUp to 5 years
Processing fee0.51% (min ₹1,500)
HDFC Bank
From 8.75% p.a.
Max loan₹50 Lakh
TenureUp to 7 years
Processing feeUp to ₹8,850
ICICI Bank
From 9.00% p.a.
Max loan₹40 Lakh
TenureUp to 6 years
Processing feeUp to 2%
Axis Bank
From 9.25% p.a.
Max loan₹25 Lakh
TenureUp to 5 years
Processing fee₹3,500 + GST
Kotak Mahindra
From 8.50% p.a.
Max loan₹35 Lakh
TenureUp to 5 years
Processing fee2% of loan
Mahindra Finance
From 10.00% p.a.
Max loan₹30 Lakh
TenureUp to 5 years
Processing fee1.5–2%
FAQ
Frequently Asked Questions
Everything you need to know about used car loans in India.
What is the maximum loan amount for a used car?
Most banks offer up to 80–90% of the car’s valuation as a loan. The maximum amount typically goes up to ₹50 lakh depending on the lender, your income, and credit profile.
What is the minimum CIBIL score required?
A CIBIL score of 700 or above gives you the best rates. Scores between 650–700 may still qualify but at slightly higher interest. Some NBFCs also consider applicants with lower scores.
Can I get a used car loan without a salary slip?
Yes. Self-employed individuals and business owners can apply with ITR (last 2 years), bank statements, and GST registration. Some lenders also accept cash salary with other supporting documents.
How old can the car be for a used car loan?
Most lenders finance cars that are not older than 10 years at the end of the loan tenure. For example, if you take a 3-year loan, the car should ideally be not more than 7 years old.
Is there a prepayment or foreclosure penalty?
It varies by lender. Most banks allow part-prepayment after 12 EMIs with a charge of 2–5%. Foreclosure charges also range from 2–5% of the outstanding principal. We help you choose lenders with the best terms.
How long does approval take?
Once all documents are submitted, most applications are approved within 24–48 hours. For pre-approved customers or those with strong credit profiles, same-day approval is also possible.