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Apply For Used Car Loan

What is a Car Loan?

Need quick funds? Use your car’s value to get a loan without selling it! A used car loan gives you instant money with easy EMIs and hassle-free approval, so your car not only drives you but also supports your financial needs.

Types of Car Loans
  • Used Car Loan: Buy your brand-new dream car with easy financing options.
  • Loan Against Car: Use your existing car’s value to get quick funds.
  • Top-Up Car Loan: Already have a car loan? Get additional funds on top of it.
Key Benefits
Affordable Interest Rates

Get your used car financed at the best competitive rates.

For All Profiles

Loans available for both salaried and self-employed individuals.

Best Offers & Deals

Enjoy customized offers and the most competitive deals tailored for you.

Quick Processing

Fast approval and disbursal with minimal documentation.

Used Car Loan Eligibility Criteria

The eligibility criteria for Used Car loans vary across lenders but generally include the following factors:

Basic Eligibility
  • The applicant must have a minimum credit score of 700 or above.
  • The minimum age required to apply is 22 years.
  • The applicant should have a minimum monthly salary of ₹12,000.
Income Requirements
Employment Type Minimum Income
Salaried Individuals ₹25,000 per month
Self-Employed Professionals ₹3,00,000 per annum
Self-Employed Used Carmen ₹4,00,000 per annum
How to Improve Eligibility
1
Maintain Good Credit Score

Pay all EMIs and credit card bills on time to maintain score above 750

2
Reduce Existing Debt

Lower your existing debt-to-income ratio by paying off other loans

3
Show Additional Income

Include all income sources like rent, investments, etc.

4
Add Co-applicant

Increase eligibility by adding earning family member as co-applicant

Documents Required for Used Car Loan

Personal Documents
  • Aadhaar Card
  • PAN Card
Income Documents
  • Last 6 months Bank Statements
  • Salary Slips (for Salaried Applicants)
  • Business Proof (for Self-Employed Applicants)
Vehicle Documents
  • RC Card (Registration Certificate)
  • Insurance Copy

Used Car Loan Features & Benefits

High Loan Value

Get up to 150% of your car’s value, with extra funds for your needs.

Quick Approvals

Fast processing to get you on the road sooner.

Best Offers & Rates

Enjoy competitive interest rates and exclusive deals.

Frequently Asked Questions

Basic KYC, income proof, and car-related documents are enough.

You can get up to 100–150% of the used car’s value, depending on eligibility.

Flexible tenure options are available, usually between 1 to 7 years.

Not always. Even with an average score, inRupi can help you secure approval.

Yes, with a top-up loan option, you can get additional funds over your existing used car loan.

Yes, you can opt for a balance transfer to reduce EMIs and get better rates.