Used Car Loan
Used Car Loan

Get Your Used Car Loans

Flexible financing options for pre-owned vehicles from trusted lenders

Calculate EMI

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Fill in your details for quick used car loan approval

Compare Used Car Loans from Top Banks

Find the best used car loan offers tailored for your vehicle purchase needs

Bank/NBFC Interest Rate (p.a.) Processing Fee Loan Amount Tenure Eligibility Action
HDFC Bank 8.50% - 11.50% Up to 1.75% (min ₹3,500) ₹1,00,000 - ₹50,00,000 12 - 60 months Annual Income: ₹3 Lakhs+
CIBIL: 680+
Age: 21-65 years 		Apply Now
ICICI Bank 8.75% - 12.00% Up to 1.50% (min ₹3,000) ₹1,00,000 - ₹40,00,000 12 - 60 months Annual Income: ₹3.5 Lakhs+
CIBIL: 680+
Age: 21-60 years 		Apply Now
SBI 8.25% - 11.25% Up to 1.25% (min ₹2,500) ₹1,50,000 - ₹75,00,000 12 - 72 months Annual Income: ₹4 Lakhs+
CIBIL: 750+
Age: 21-65 years 		Apply Now
Bajaj Finserv 9.00% - 12.50% Up to 2.25% (min ₹4,000) ₹1,00,000 - ₹35,00,000 12 - 48 months Annual Income: ₹2.5 Lakhs+
CIBIL: 680+
Age: 21-60 years 		Apply Now
Axis Bank 8.90% - 11.75% Up to 1.75% (min ₹3,500) ₹1,00,000 - ₹45,00,000 12 - 60 months Annual Income: ₹3 Lakhs+
CIBIL: 680+
Age: 21-60 years 		Apply Now

Why Compare Used Car Loans with Loanfatafat?

Quick Comparison

Compare top used car loan offers instantly to find the best rates and terms in minutes

Competitive Rates

Access used car loan rates from 8.25% p.a. with terms tailored to your budget

Trusted Lenders

Compare used car loans from top banks and NBFCs with transparent terms and no hidden fees

Wide Loan Range

Explore used car loans from ₹1,00,000 to ₹75,00,000 to finance your dream vehicle

Flexible Repayment Options

Choose tenures from 1 to 5 years to find a repayment plan that suits your budget

Free Eligibility Check

Assess your used car loan eligibility for free without affecting your credit score

Used Car Loan Eligibility

Check your eligibility to compare and choose the best used car loan with Loanfatafat.in

For Salaried Individuals

  • Age: 21 to 60 years
  • Annual income: ₹3 Lakhs or above
  • Employment: Atleast 1 year
  • CIBIL score: 680 or above
  • Vehicle age: Not more than 5 years

For Self-Employed Individuals

  • Age: 21 to 65 years
  • Annual income: ₹3.5 Lakhs or above
  • Business vintage: Minimum 2 years
  • CIBIL score: 680 or above
  • Vehicle age: Not more than 5 years

Calculate Your Used Car Loan EMI

Monthly Loan EMI
₹ 14,347
Fourteen Thousand Three Hundred And Forty Seven
Loan Amount
₹
One Lakh
50K 1 Cr
Loan Tenure
Years
1 7
Rate Of Interest
%
10 18
Payment Breakdown:
Principal Amount
₹10,00,000
Interest Payable
₹7,21,651
Total Amount Payable
₹17,21,651

EMI Payment Schedule

Year Principal paid yearly
(A)		 Interest paid yearly
(B)		 Total Payment
(A + B)		 Balance Loan Paid
To Date

Documents Required for Used Car Loan

Prepare these documents to compare and choose the best used car loan on Loanfatafat.in

Identity & Address Proof

  • 1.
    PAN Card

    For applicant

  • 2.
    Aadhaar Card

    Linked to mobile number

  • 3.
    Address Proof

    Utility bill or lease agreement (If both are Rented Home and Office not older than 3 months)

  • 4.
    Passport-size Photographs

    Recent photographs of the applicant

Financial & Vehicle Proof

For Salaried Individuals
  • 1.
    Last 3 months' Salary Slips

    To verify income

  • 2.
    Last 1 Year Bank Statement

    Salary account

  • 3.
    Form 16 Part A and B or Form 26AS Part A and B

    For last 2 years

  • 4.
    Vehicle Documents

    RC, insurance, and valuation report (vehicle not older than 5 years)

For Self-Employed Individuals
  • 1.
    Last 2 years' ITR with computation of income

    For business or professional income

  • 2.
    Last 1 Year Bank Statement

    Primary business account

  • 3.
    Vehicle Documents

    RC, insurance, and valuation report (vehicle not older than 5 years)

Uses of Used Car Loans

Compare used car loans on Loanfatafat.in to meet your vehicle financing needs

Used Car Purchase

Finance the purchase of a pre-owned sedan, SUV, or hatchback for personal use

Commercial Used Vehicle Financing

Fund pre-owned taxis, delivery vans, or other commercial vehicles

Used Luxury Car Financing

Finance pre-owned premium or luxury cars for personal or business use

Used Car Repairs

Fund repairs or upgrades for your pre-owned vehicle

Used Car Loan Refinancing

Refinance existing used car loans for better rates or lower EMIs

Used Electric Vehicle Financing

Fund pre-owned eco-friendly electric cars with tailored loan options

Frequently Asked Questions

Get answers to common questions about used car loans on Loanfatafat.in

A used car loan is a financial product offered by banks or NBFCs to help you purchase a pre-owned vehicle, such as a sedan, SUV, or electric car, typically not older than 5 years. It is usually secured (with the car as collateral). You receive a lump-sum amount and repay it in fixed monthly installments (EMIs) over a tenure, typically 1-5 years. Interest rates, starting from 8.25% p.a., depend on your credit score, income, and lender policies. Loanfatafat.in helps you compare options for the best rates.

General eligibility criteria for used car loans include:
  • Salaried: Age 21-60 years, minimum ₹3 Lakhs annual income, 1 year with current employer
  • Self-Employed: Age 21-65 years, minimum ₹3.5 Lakhs annual income, 2 years business vintage
  • Credit Score: 680+ for salaried; 680+ for self-employed (higher scores get better rates)
  • Vehicle Age: Not more than 5 years
  • Valid Documents: PAN, Aadhaar, address proof, income proof, and vehicle documents (RC, insurance, valuation report)
Eligibility varies by lender, and Loanfatafat.in helps you compare options to find the best fit.

Loanfatafat.in enables instant eligibility checks and loan comparisons within minutes. Once you select a lender and submit required documents, including vehicle documents (RC, insurance, valuation report), approval for used car loans can take 2-7 days due to additional vehicle verification. Funds are typically disbursed within 24-48 hours after approval, depending on the lender. Compare processing times on Loanfatafat.in to choose the fastest option.

Documents required for a used car loan application through Loanfatafat.in include:
  • Identity & Address Proof: PAN Card, Aadhaar Card, address proof (Utility bill or lease agreement If both are Rented Home and Office not older than 3 months), and passport-size photographs.
  • For Salaried: Last 3 months’ salary slips, 1 year bank Statement (salary account), Form 16 Part A and B or Form 26AS Part A and B for 2 years, and vehicle documents (RC, insurance, valuation report for vehicles not older than 5 years).
  • For Self-Employed: Last 2 years’ ITR with computation of income, 1 year bank Statement (business account), and vehicle documents (RC, insurance, valuation report for vehicles not older than 5 years).
Documents are verified online for quick comparison and approval across lenders.

Most lenders allow prepayment or foreclosure of used car loans after a minimum period (typically 6-12 months), subject to their terms. Prepayment penalties, if applicable, range from 1-3% of the outstanding amount. Loanfatafat.in lets you compare lenders’ prepayment policies to choose the most flexible option.

Your CIBIL score reflects your creditworthiness. A score of 680+ (salaried) or 680+ (self-employed) improves approval chances and secures lower interest rates (8.25% p.a. or better). Lower scores may result in higher rates or rejection. Loanfatafat.in offers a free CIBIL score check without impacting your rating to help you compare eligible used car loan options.

Used car loans may include processing fees (1-2% of loan amount or minimum ₹2,500-₹4,000), prepayment penalties, late payment fees, and GST on fees. Additional costs may arise from vehicle valuation or transfer fees. Loanfatafat.in ensures transparency by comparing lenders’ fee structures upfront, so you can select a used car loan with minimal or no hidden charges. Always review the loan agreement for full details.
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