Used Car Loan
Autocred India offers flexible and hassle-free Used Car Loans with attractive interest rates and budget-friendly repayment options. Enjoy a quick and easy application process to finance your pre-owned car effortlessly. Apply today and drive home your dream car!
Features and Benefits of Used Car Loan
Competitive interest rates
Flexible Repayments
Easy to Apply
Quick Approvals
Used Car Loan Eligibility
For Salaried Individuals
- Individuals who are at least 21 years old at the time of loan application and no older than 60 at the conclusion of the loan term.
- Individuals who have worked for at least two years, including at lease one year with their present employer
- Those with an annual income of at least ₹ 2,50,000, including the income of their spouse or co-applicant
For Self-employed Individuals
- Individuals who are at least 25 years old at the time of loan application and no older than 65 at the conclusion of the loan term and eligible.
- Those who have been in operation for at least two years
- Individual should earn at least ₹ 2,50,000 per annum
Why Should You Buy a Used Car?
Affordability
Choosing a pre-owned car saves you money and allows you to afford a bigger model within the same budget.
Slower Depreciation
A new car loses about 50% of its value in the first few years. Choosing a pre-owned car helps you avoid rapid depreciation.
Lower EMI Repayments
Buying a pre-owned car means a lower price, smaller loan, and reduced EMIs, making it a smart financial choice.
Documents Required for Used Car Loan
For Salaried Individuals
- KYC documents (Valid Photo ID Proofs)
- PAN Card
- Salary Slip (latest 3 months)
- Salary account statement(latest 6 months)
- Signature Verification Proof
- Registration Certificate of the car
For Self Employed Individuals
- KYC documents (Valid Photo ID Proofs)
- PAN Card
- Last 2 years ITR as proof of income
- Salary account statement(latest 6 months)
- Signature Verification Proof
- Registration Certificate of the car
Apply for Used Car Loan in 4 steps
- Submit Your details
- Select Your Loan Offer
- Complete instant V-KYC online
- Get Your loan disbursed
Used Car Loan Interest Rate Comparison
| Bank | Interest Rate | Processing Fee* |
|---|---|---|
 |
9.25% - 12.75% | 1% of loan amount (min ₹1,000) |
 |
13.75% - 16.00% | Up to ₹6,000 |
 |
14.50% - 16.25% | ₹3,500 - ₹5,500 |
 |
12.50% - 17.50% | ₹3,500 - ₹5,000 |
 |
14.00% - 17.00% | 1% of loan amount |
 |
13.00% - 15.50% | 1% of loan amount |
 |
8.85% - 10.60% | 0.50% of loan amount |
 |
8.70% - 10.45% | 0.50% of loan amount |
