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Used Car Loan
Get a Pre-Owned Car Loan up to ₹25 Lakh with Quick Approvals, Competitive Interest Rates, and Minimal Documentation.
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- Already Applied?
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How To Apply For Used Car Loan
Piramal Finance simplifies the used car loan process for you. You just need to follow these simple steps.
Step 1:
Select the Used Car Loan Option from the Loans Product and Click on Apply Now.
Step 2:
Register with your mobile number and fill in the basic details.
Step 3:
Our Used Car Loan expert will get in touch with you shortly.
We ensure the most transparent and quick processing of used car loans.
Features and Benefits of Second-Hand Car Loan
- Up to 90% Financing
You can get a loan for up to 90% of the car’s value, so you don’t need to shell out a big down payment. - Flexible Tenure
Choose your repayment period between 12 and 60 months—pick whatever fits your monthly budget best. - Competitive Interest Rates
We offer affordable interest rates to help keep your EMIs manageable. - Minimal Documentation
Only basic KYC and income proof are needed, which means less hassle for you. - Quick Approvals and Fast Disbursals
We respect your time and make sure you get your loan approved and disbursed quickly. - No Guarantor or Additional Collateral
Your car itself acts as security, so no need for extra paperwork or guarantors.
Eligibility for 2nd hand car financing
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Row 1
- Salaried Individuals
- Self-Employed Individuals
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Row 2
- Age: 21 to 60 years
- Age: 23 to 65 years
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Row 3
- Minimum Annual Income: ₹2,50,000
- Minimum Annual Income: ₹3,00,000
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Row 4
- Income Continuity Proof : Proof of at least 1 year of continuous employment
- Income Continuity Proof : Valid business registration and 2 years of continuity
Our Used Car Loan Offerings
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Loan Against Car
Secure a loan against your car effortlessly to meet your financial needs....
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Top Up Loan
Need extra funds? Get them quickly with our top-up car loan facility...
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Balance Transfer
Save on EMIs and interest rates through our balance transfer offer. It's the smart way to manage your finances...
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Why Choose Piramal Finance for Used Car Loan
- Trusted by millions all over India
- Branches across 26 states and more than 13,000 pin codes across India.
- Best Brand in 2022 - The Economic Times
- Top Rated Sustainable Brand - BW Businessworld
Frequently Asked Questions about Used Car Loan
How much loan can you avail from Piramal Finance for buying a used car?
You can get a loan for up to 90% of the car’s value, so you only need to arrange a small down payment yourself.
Can I get a loan for a 2nd hand car?
Yes! Our used car loans are designed specifically for pre-owned cars.
Is it good to take a used car loan?
Absolutely. It helps spread the cost over time with affordable EMIs, making it easier to own a good-quality car without worrying about a big upfront payment.
What happens if I missed a used car loan installment?
Missing an EMI might lead to penalties and affect your credit score. If you face difficulties, contact us immediately so we can help you find a solution.
Which is better, a used car loan or a personal loan?
A used car loan is usually better because it offers lower interest rates and your car acts as collateral, unlike personal loans that have higher rates and no security
How much credit score do you need for a used car loan?
A good credit score (generally 700 or above) improves your chances of approval and better interest rates.
Can you prepay your car loan before your tenure?
Yes, you can prepay your loan either partially or fully, subject to terms.
How can I know my pre-owned car loan balance?
You can check your balance anytime online, through the app, or by contacting customer support
How do I pay a missed EMI in an Piramal Finance Used car loan?
You can check your balance anytime online, through the app, or by contacting customer support
What documents are needed for getting a 2nd hand car loan?
You need basic KYC (identity and address proof) and income proof like salary slips or bank statements.
What is the optimum used car loan tenure?
It depends on your budget, but we offer flexible repayment from 12 to 60 months to suit your needs.
How can I transfer my used car loan from another lender to Piramal Finance?
It depends on your budget, but we offer flexible repayment from 12 to 60 months to suit your needs.
Am I eligible to get a preowned car loan?
If you meet the age and income criteria mentioned earlier and can provide the necessary documents, you’re eligible to apply.
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