A pre-owned car loan, also known as a used car loan, is an unsecured loan that enables you to buy a well-maintained second-hand car without any hassle. Pre-owned car loans are disbursed at reasonable and competitive interest rates, and their repayment duration can be as long as seven years. Every salaried and self-employed individual can opt for a used car loan. Whether salaried or self-employed, you’ll enjoy the benefit of repaying the loan in EMIs over the loan term. There’s minimal documentation required for this loan application process.

To get a pre-owned car loan with ease and convenience, follow these tips: Dig some research to find a lender with a reasonable interest rate and quick disbursal policy. For instance, we at Piramal Finance take no time in sanctioning and disbursing the loan amount, provided all documents and details are authentic. Choose a longer loan tenure as it improves your pre-owned car loan eligibility. To save time, go for an online pre-owned car loan process. Organize and keep all the required documents ready. The more the delay in submitting the documents, the longer it will take to process and sanction.

The various benefits of choosing a pre-owned car loan vary from lender to lender. However, the most common benefits include Easy car buying process, Quick sanction and disbursal Freedom to choose from a wide range of auto-dealers Coverage for multiple cars, including SUVs Loan available for cars valued up to INR 15 lacs Lower rate of interest than other types of unsecured loans Customized repayment schedule as per your convenience Maximum repayment flexibility Minimal documentation

Whether or not you have to make a down payment depends on the lender. Some lending institutions like ours accept only a small amount, while others may prefer down payments. It’s your duty to check this parameter with the lending institution before taking any decision.

At Piramal Finance, pre-owned car loans are processed, sanctioned, and disbursed very quickly. Just fetch us your bank details and KYC proof and leave the rest to us. For more precise knowledge on the time needed for sanctioning, contact our customer support representative anytime.