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Used Car Loan

Buying a car is a big deal. Your process would generally start by fixing a budget, and researching the best cars available for you. Sometimes it may not be possible to buy a new car. Some may opt for a car of their dreams in the form of a used car. 

Once you get a gist of what you are looking for, your next process is finding a dealer who has the car within your set budget. When the time to make the down payment finally arrives, you realise that you are short on funds. 

Giving up on your dream of availing a car is not an option. What you can do is take a used car loan

A loan for a vehicle is a collateral-free loan. Unlike secured motor loans, you will not be asked to hypothecate the car against the used car finance. Being a personal loan, you will not be asked to submit any documents when you are borrowing old car finance

Such a loan is disbursed quickly. You can apply through an online personal loan app, like Finnable. You will need to check your personal loan eligibility to get a vehicle loan for used cars. Once you meet all the eligibility as set by your lender, you will need to upload the documents. 

The turnaround time for the funds  to be credited for such a loan is just a few hours. This means that if you apply for a used car loan today and all the documents are in place, your loan will be sanctioned within 24 hours.

Now, with FINNABLE, you can avail of an affordable loan for buying used cars. We understand the meaning of achieving dreams and are always here to help our customers reach their dreams with all the required financial assistance. Indians love buying used cars because they’re much cheaper than new ones. The average price of a new car in India is around 6 lakhs on an average. On the other hand, used cars cost much less. Even though used cars are older, they’re still in good condition and ready to drive away. Plus, there are plenty of them on the market. Most people don’t have to worry about finding a cheap used car. That’s because there are so many available. Plus, most used cars run well, so you won’t have any problems with them.

Used cars last a lot longer than new ones. They’re built to last for years without any problems. Plus, owners can easily fix any issues with their vehicles using simple tools. That makes used cars a lot more reliable than new ones- even if you don’t repair them yourself. Used cars are also safer to drive since there aren’t any engine problems yet! New cars need to launch before they have any problems- but used cars launch right away with no delays. Used cars are a great financial choice for Indians. They’re much cheaper and last much longer than new ones. Furthermore, international markets provide great alternatives for expensive new vehicles at low prices without delays in shipping times or poor customer service practices. Therefore, Indians should buy used cars whenever they can!

FINNABLE is setting up a one-stop solution for providing the best-used car loan solution. Because we have a large market for used cars in India, there is no one-click assist available on the financial end. Used cars are a huge industry in India. They make up most of the automotive market in India. People buy used cars to save money and enjoy driving. Owners of used cars think they’re a good investment. They’re right- used cars are a great financial choice for Indians. Keeping all of this in mind, we have chosen to be the one who helps you to get your used automobile of choice. In FINNABLE, we are available 24×7 and throughout the year. With our online presence and interactive app, you can apply and avail at any moment from any corner of the country and expect to buy the used car you have chosen in a week or so because we process the loans fast and smooth. We have customer service reps on standby 24/7 to answer your questions and guide you through the process. With a 97% approval rate, we’ve never turned anyone away. Come to FINNABLE because we share dreams with you!

Used Car Loan EMI Calculator

  • Loan EMI

    Rs. pm

  • Total Interest Payable


  • Total Amount Payable


With FINNABLE, you can simply access a variety of interest rates. However, the rate could range from 16% to 28% annually. It is mostly decided based on the customer’s income, profession, and credit score. You can find the best interest rate and use that information to choose the best options for you with the aid of our marriage loan interest rate calculator. Based on all of these variables, choose the EMI amount that is most appropriate for you. We can happily tell that thousands of consumers have already benefited from our marriage financing options, and they have been very complimentary of them. 

Used cars are a great financial choice for Indians. They’re much cheaper and last much longer than new ones. Furthermore, international markets provide great alternatives for expensive new vehicles at low prices without delays in shipping times or poor customer service practices. Therefore, Indians should buy used cars whenever they can! Therefore, the interest rates are very reasonable, and in the long term, it helps our customers to save ample amounts of money, and the process remains online, trustworthy, easy, and hassle-free.

Documents Required for Used Car Loan

Our customers need to mandatorily provide the following documents to apply for a used car loan online:

According to the government of India, a PAN card is necessary as identity evidence since it demonstrates to the lender that a person is who they say they are.

Since FINNABLE exclusively offers loans to Indian citizens, borrowers must present their Aadhar cards as proof of residency.

The pay stubs for the previous month. It acts as evidence of the lender’s legitimate job with a business in the public or private sector. The bank statement for the salary account if required. When applying, borrowers must have net banking access activated. We can transfer the loan amount to the bank account that belongs to the company where you’ve worked for more than 1 month based on the evidence provided by the document.

Your eligibility for approval mainly depends on your income status, the stability of the business or income stream you are in, and the individual credit score you have.

When filling up the online form, add all the information and attach all the required files. FINNABLE team will verify these documents, and then the funds will be released. Once the loan application and the verification process are done, get the loan amount transferred to your bank account as early as 2 hours.

How to Apply Pre-Used Vehicle Loan Online?

Your loan application process with FINNABLE is completely hassle-free, and you may submit it at any time, from any location, utilizing our online service portals. We are accessible through our official website, and various operating systems have access to our official apps. Simply take the following basic steps to complete the process quickly and easily:

  • To begin, sign in to FINNABLE’s official website or personal loan application.
  • Register yourself with FINNABLE to gain credit.
  • After submitting all the necessary information, you will have a registered FINNABLE account that will allow you to use all of our credit services for the rest of your life. All that is left to do is choose the type and quantity of loan you need, fill out the application, and attach the necessary paperwork. Based on the fundamental data you provide, the app or website will then display the loan eligibility, including the eligible rate of interest and length.
  • Forward the application form after uploading the required documents to us and you are all set for your required used car loan. We will receive your documents through the online procedure and once verified you will be credited the loan amount to your submitted bank account, which you usually use as your salary account.

Eligibility Criteria for a Used Car Loan

Some eligibility requirements must be satisfied before FINNABLE approves your application for any loan. Each loan has a different eligibility policy. The following is a list of some typical criteria for pre-owned vehicle loans:

Your place of residence must be in India. 

Employment – A wide variety of candidates are qualified, including salaried workers, independent contractors, professionals, partnerships, and corporate businesses.

Age of applicant: Banks often need applicants to be at least 21 years old. Employees on salaries shouldn’t work over 60.

Relationship with the bank – Some banks will only offer automobile loans to salaried workers if their salary is credited to their bank. Others may have their approval for a car loan influenced by their average quarterly balance or past loans. But with us at FINNABLE, you can avail the best affordable pre-used vehicle loans without any such terms and conditions.

Permanent connection – FINNABLE prefers a constant mode of communication with each customer. Therefore, you must provide your permanent contact details, like your phone number, alternative phone number, and official e-mail address, to get approval for your used car loan.

If you meet all the requirements stated above, you can easily avail of the used car loans of FINNABLE from any corner of the country. What are you still thinking about? Hurry now and get your dream car home in a week with FINNABLE.


Rs. 10 lakhs is the maximum amount you can get as used car finance from Finnable.

When your personal loan is approved, you will be filling out an e-mandate. This e-mandate is an electronic registration that states that the lender has the authorisation to debit the EMI amount directly from your bank account till the end of the loan tenure.

To get a loan to buy a used vehicle, you will need to submit your PAN card, Aadhar card, Salary slip for 1 month, and bank statement for that particular  month.

Your repayment tenure for a car loan is between 6 months to 60 months.

The interest rates for such loans start at 16% and are up to 26% with us at Finnable.

If you are looking to avail yourself of old car finances, you can do so through Finnable’s personal loan app. It’s a simple 3-step process. Once you download the personal loan app from the Play Store:

  • Create your profile by adding your personal and professional details.
  • Set your terms, choose the type of loan, the amount you need as a pre-owned car loan, and the loan tenure.
  • Upload the 3 documents mentioned above. If everything is in place, your loan will be sanctioned within 24 hours.

This is personal loan and, hence, you do not need to provide any security against the loan amount.

Yes, the possibility of getting a  such a loan with a low CIBIL score is available. It is similar to applying for a personal loan with a low CIBIL score.

If you are looking for personal loan, you can apply for one through Finnable for the following reasons

  • Finnable disburses loan amount within 6 hours of document verification. 
  • You can also choose a loan amount of up to Rs. 10 lakhs at affordable personal loan interest rates
  • The documentation required is minimal.
  • 100% digital process.

FINNABLE offers up to 10 lakhs rupees for used car loans, keeping the stats in mind that majority of cars that are pre-used come inside the range of 4 to 6 lakhs and the given amount should totally meet your needs.

You will be asked to complete an electronic mandate after your personal loan is approved. This e-mandate, which is an electronic registration, gives the lender permission to withdraw money from your bank account in the amount of the EMI until the loan's term is over.

Being a personal loan, it does not require you to provide any such security while taking a loan from FINNABLE.

The app or website transfers the shared data to the lenders after a secure connection has approved the borrower's application. This makes it a reliable and secure software to use when applying for a marriage loan. FINNABLE is a legitimate source for loans and other financial services in the nation because it is registered with an NBFC that has received a license from the RBI.

Yes, you can get a used car loan with a low CIBIL score also from FINNABLE. We consider pre-owned vehicles loan in the sector of personal financing, and therefore, we approve used car loans if you also have a low credit score.

Upgrade your life!

Apply for a loan at Finnable and live limitlessly