Used Car Loan in Kerala
In Kerala, whether it’s the busy streets of Kochi, scenic Wayanad, or coastal Kovalam, having a car is essential. But a new car can be costly—that’s where a used car loan comes in. With the growing demand for pre-owned vehicles, used car loans offer a practical, affordable way to own your ride without draining your savings.
Paperless
Loan in 60 Minutes
No collateral
Features & Benefits of Used Car Loan in Kerala
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 Kerala
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Identity Proof: Aadhaar Card, PAN Card, Passport, or Voter ID
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Address Proof: Utility bill, Aadhaar Card, Passport, or Rental Agreement
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Income Proof: Last 3 months’ salary slips or ITR (for self-employed individuals)
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Bank Statements: Past 3–6 months’ statements
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Employment Proof: Offer letter, employment certificate, or business registration
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Photographs: Recent passport-size photographs
Interest Rate & Charges to Buy a Used Car Loan in Kerala
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Interest Rate: Starting from 16% to 35.99% p.a., based on eligibility and vehicle type
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Processing Fee: Generally ranges from 4% to 5% of the loan amount
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Foreclosure/Prepayment Charges: Typically 2%–5% of the outstanding balance
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Late Payment Charges: Applicable on missed EMIs
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Loan Tenure: Flexible options ranging from 6 to 60 months
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GST & Other Charges: 18% GST applicable on relevant charges
Why should you buy Used Car Loan in Kerala
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Instant Disbursal: Get funds of approval within 24–48 hours
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Fully Digital Process: Apply online with zero paperwork or branch visits
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High Loan Amounts: Borrow up to ₹10 lakhs depending on eligibility
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Flexible Tenures: Repayment terms ranging from 1 to 7 years
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No Collateral Required: Unsecured loans with no asset pledge
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Transparent Charges: Competitive interest rates with no hidden costs
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Prepayment Option: Foreclose your loan after 6 EMIs at minimal charges
Eligibility Criteria to buy a Used Car Loan in Kerala
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Age: 21 to 55 years
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Employment: Salaried or self-employed with a steady income
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Income: Minimum monthly income of ₹15,000
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Work Experience: At least 12 months of total work experience
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Credit Score: Preferably 700+ (lower scores may still be considered)
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Residency: Indian citizens residing in Kerala
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 Kerala with Finnable?
Customers looking to buy Used Car Loan in Kerala 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 Kerala today and take the next step toward financial freedom with Finnable!
Ready to Get Started?
Click on Apply Now to begin your application today.
