Used Car Loan Overview
LoanPao’s Used Car Loan offers affordable financing for second-hand vehicles in India. Get up to 100% of the car’s valuation (typically up to ₹10 lakh) with low interest rates starting at 8.5% p.a. and flexible tenures of 1-5 years. Apply online via our application form and get approval within 1-3 days. Track your application status via our tracker portal or contact us at +91-999-163-4766 for assistance. Check used car loan eligibility and benefits.
Explore more financing options on our loans page or use our EMI Calculator to plan your payments. Discover used car loan online apply process.
Eligibility for Used Car Loan
LoanPao’s Used Car Loan is designed for salaried and self-employed individuals across India with these used car loan eligibility criteria:
- Age: 21-65 years at loan maturity.
- Income: Minimum ₹15,000/month (salaried) or ₹2 lakh annual ITR (self-employed).
- CIBIL Score: 700+ preferred for better rates.
- Vehicle Age: Car should not be older than 7 years at loan maturity.
- Residence: Stable residential proof for at least 6 months.
Contact us at info@loanpao.in for eligibility queries.
Documents Required
Submit the following used car loan documents for quick processing:
- KYC: Aadhaar, PAN, passport-size photographs.
- Income Proof: Last 3 months’ salary slips (salaried) or ITR for 2 years (self-employed).
- Bank Statements: Last 6 months.
- Vehicle Documents: RC and insurance copy (post-purchase).
- Address Proof: Utility bill, rental agreement, or Aadhaar.
Upload documents via our online portal for faster verification.
Key Benefits of LoanPao’s Used Car Loan
Up to 100% Financing
Cover the full valuation of your second-hand car, a key used car loan benefit.
Low Interest Rates
Starting at 8.5% p.a. for eligible applicants with attractive used car loan interest rates.
Quick Approval
Get approved in 1-3 days after document submission.
Flexible EMIs
Choose tenures from 1 to 5 years to suit your budget.
Secure Process
Apply safely with LoanPao’s encrypted portal.
24/7 Support
Contact us anytime at +91-999-163-4766.
How to Apply for a Used Car Loan
Applying for a Used Car Loan with LoanPao is simple with used car loan online apply:
- Visit our application form and fill in your details.
- Upload KYC, income proof, and vehicle details for verification.
- Receive approval within 1-3 days and finalize your car purchase.
Use our EMI Calculator to plan your repayments or contact us at +91-999-163-4766 for assistance.
Used Car Loan Features
Key features of LoanPao’s Used Car Loan:
| Feature | Details |
|---|---|
| Loan Amount | Up to 100% of car valuation (max ₹10 lakh). |
| Interest Rate | Starting at 8.5% p.a. (based on credit profile). |
| Tenure | 1 to 5 years. |
| Processing Time | 1-3 days after document verification. |
| Prepayment | Low or no prepayment charges after 6 months. |
Learn more about our loan products.
Popular Uses of Used Car Loan
- Financing reliable second-hand sedans for family use.
- Buying pre-owned SUVs for adventure trips.
- Upgrading to certified used luxury cars.
- Quick funds for compact hatchbacks with low used car loan interest rates.
- Affordable options for first-time buyers.
Why Choose LoanPao for Used Car Loans?
LoanPao stands out for its customer-centric approach:
Fast Processing
Quick approvals within 1-3 days with used car loan online apply.
Affordable Rates
Competitive interest rates starting at 8.5% p.a.
Dedicated Support
Reach us at +91-999-163-4766.
Tips for Getting a Used Car Loan
Maximize your chances with these tips:
- Maintain a CIBIL score above 700 for better used car loan eligibility.
- Choose a car not older than 7 years.
- Submit all used car loan documents accurately.
- Use EMI calculator to ensure affordable repayments.
- Get vehicle valuation from certified sources.
Testimonials
"LoanPao made my used car purchase easy with quick approval!"
Anuj Sharma ★★★★★
"Low rates and flexible EMIs—highly satisfied!"
Jyoti Singh ★★★★★
"Secure process and great support team!"
Renu Verma ★★★★★