Used Car Loan in Chennai
Buying a car is a milestone that reflects Chennai’s unique blend of tradition and modernity. Just like the city, a used car offers the perfect mix of reliability and affordability. With new car prices rising, a pre-owned vehicle is a smart, budget-friendly choice. Finnable’s used car loan in Chennai helps you finance your dream car with easy EMIs and quick approvals.
Paperless
Loan in 60 Minutes
No collateral
Features & Benefits of Used Car Loan in Chennai
Low EMI’s
Enjoy lower EMIs with interest charged on the reducing balance method. As opposed to a Flat rate of interest, reducing balance ensures the EMI amount remains low.
Quick Disbursal
Enjoy the convenience of fast processing and quick approval, with funds directly credited to your bank account.
Flexible Loan Amount and Tenure
Choose a loan amount and repayment tenure that best fit your needs and financial capabilities.
Personal Loan Assistant
Please write to your loan assistant at makeiteasy@finnable.com for any support. We aim to provide you with a seamless and hassle-free experience.
Documents Required to Buy a Used Car Loan in Chennai
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Proof of Identity: Aadhaar, PAN, Passport, or Voter ID
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Proof of Address: Aadhaar, utility bill, passport, or rental agreement
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Income Documents: Latest 3 months’ salary slips or ITR (for self-employed)
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Bank Statements: Previous 3 to 6 months’ account statements
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Proof of Employment: Offer letter, employer certificate, or business proof
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Photographs: Recent passport-size photos
Interest Rate & Charges to Buy Used Car Loan in Chennai
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Interest Rate: Begins at 16% to 35.99% p.a., based on profile and vehicle details
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Processing Charges: 4%–5% of the total loan amount
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Foreclosure Fees: 2%–5% of the unpaid balance if closed early
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Late EMI Charges: Applicable if EMIs are missed or delayed
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Loan Tenure: Flexible terms ranging from 6 to 60 months
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GST & Service Fees: 18% GST applicable on processing and service charges
Why should you buy Used Car Loan in Chennai
- Quick Disbursal: Funds are credited to your account within 24–48 hours of approval
- 100% Online Application: Complete the entire process from the comfort of your home
- Higher Loan Amounts: Borrow up to ₹10 lakhs depending on your profile
- Tenure Flexibility: Choose repayment terms between 1 and 7 years
- No Collateral Needed: Fully unsecured loans, no asset pledging required
- Clear Pricing: Transparent charges without hidden costs
- Easy Prepayment: Option to close your loan early after 6 EMIs with minimal fees
Eligibility Criteria to buy Used Car Loan in Chennai
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Age Requirement: Applicants must be between 21 and 55 years old
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Employment Status: Salaried and self-employed individuals with regular income
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Minimum Income: ₹15,000 net monthly salary required
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Work Experience: At least 1 year of overall work experience
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Credit History: A score of 700+ is preferred (lower scores may still qualify)
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Residency: Must be a resident Indian living in Chennai
Secure & Confidential Process
At Finnable, we ensure the highest standards of data security and confidentiality. All the personal and financial information you share is securely handled, providing you peace of mind throughout the loan process.
Why Finnable Stands Out?
Finnable is known for its user-friendly app, fast loan processing, and commitment to customer satisfaction. With no paperwork hassles and the ability to apply entirely online, you can get a personal loan without the need to visit a branch. We also offer competitive interest rates and flexible repayment terms, making it easier for you to manage your finances.
How to Buy a Used Car Loan in Chennai with Finnable?
Customers looking to buy Used Car Loan in Chennai need to follow the below steps
Setup Profile
Sign up with your name, email, and mobile number. Verify your mobile number with an OTP and fill in your address and job details.
Choose Your Loan
Pick the loan amount you need, select the product, and choose a repayment period that suits you.
Upload Documents
Upload your ID proof, income proof, and address proof. Make sure the documents are clear, then submit them for verification.
Apply Now and Get a Used Car Loan in your Account Today
Ready to get started? Apply for a Used Car Loan in Chennai today and take the next step toward financial freedom with Finnable!
Ready to Get Started?
Click on Apply Now to begin your application today.
