Get flexible and low-interest loans for used cars. Choose the best bank and EMI plan that fits your budget and drive your dream car today.
Bank Name
Car Price
Rate of Interest
Loan Tenure
Loan Amount
CIBIL Score
Apply Now
HDFC Used Car Loan
₹5 Lakh
10.5%
48 Months
₹4 Lakh
750+
ICICI Used Car Loan
₹7 Lakh
10%
60 Months
₹5.5 Lakh
780+
Axis Used Car Loan
₹6 Lakh
10.75%
54 Months
₹5 Lakh
720+
🔥 Used Car Loan EMI Calculator
📊 Loan Summary
Monthly EMI: ₹0
Total Interest: ₹0
Total Payment: ₹0
📈 EMI Breakdown
Principal: ₹0
Interest: ₹0
What is a Used Car Loan?
A used car loan is a financing option for purchasing pre-owned vehicles. Interest rates are slightly higher than new cars, but they help you buy your preferred vehicle without full upfront payment.
How Does a Used Car Loan Work?
You choose a pre-owned car, apply for a loan, and the bank disburses the amount to the seller or dealer. You repay the loan in EMIs over the selected tenure.
Loan Application & KYC Submission
Car Price & Loan Approval
Loan Disbursement
Repayment in EMIs
Prepayment & Part-Payment Options
Completion of Loan
Features of Used Car Loan
Loan Amount: Up to 80% of car value
Interest Rate: 9%–12% per annum
Loan Tenure: 12–60 months
Repayment: EMIs including principal & interest
Quick Approval: Faster processing than new car loans
Prepayment: Allowed with nominal charges
Required Documents
KYC (PAN, Aadhar)
Income Proof (Salary Slip/IT Return)
Bank Statements (Last 6 months)
Car Registration & Seller Invoice
Eligibility Criteria
Age 21–65 years
Minimum CIBIL Score: 700+
Stable income source
Employed/Self-employed
FAQs
1. What is a used car loan?
A loan to finance the purchase of a pre-owned vehicle with EMI repayment.
2. How do I repay?
Repay in monthly EMIs as per loan agreement.
3. What documents are required?
KYC, income proof, bank statements, vehicle registration & invoice.
4. How to apply?
Apply online or at bank branches; approval after verification.
5. Can I prepay my used car loan?
Yes, most banks allow prepayment with nominal charges.
