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If you’re considering buying a pre-owned vehicle and require financial assistance, our Used Car Loan is the ideal solution. We offer competitive interest rates on loans for used cars and provide flexible repayment choices, making Used Car Loans accessible to all. We make your purchasing journey smooth through our easy documentation process and offer up to 95%* funding based on the asset’s value. Get the funds you need at the earliest, with our instant approval process as we are committed to providing you with the best Used Car Loans at affordable interest rates.
| Schedule of Charges | Charges (inclusive of GST) |
|---|---|
| Processing Fees | Upto 10% |
| Penal Charges | 36% per annum on unpaid installment |
| Foreclosure Charges | a) Remaining Loan Tenure is <= 12 months: 3% on principal outstanding b) Remaining Loan tenure is from >12 to <=24 months: 4% on principal outstanding c) Remaining Loan tenure is > 24 months: 5% on principal outstanding |
| Other Charges | |
| Bounce Charges | Maximum Rs.750 |
| Duplicate NDC/NOC charges | Rs.500 |
Choose a simple way to streamline your finances and ensure a peaceful life. Use TVS Credit’s Used Car Loan EMI calculator or car valuation tool to plan your monthly budget. Enter values such as loan amount, Used Car Loan interest rate, tenure of the loan and get an instant estimate of your loan EMI.
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Indian
18 – 65 years*
Active
Minimum 1 year
Indian
18 – 65 years*
Active
Minimum 1 year
Here are the reasons why you should opt for Used Car Loan from TVS Credit:
TVS Credit provides a repayment tenure of up to 60 months with low-interest rates for used car loans.
Yes, you can get an EMI option for second-hand Car Loans. Check out the estimated EMI for your used car loan by using our car valuation tool.
Yes, when you opt for a Used Car Loan, you need to make a down payment. TVS Credit finances 95% of your desired second-hand car.
Your credit score should be 750 or above. This will increase your eligibility to avail of a Used Car Loan. You can check out your eligibility criteria, submit documentation and get quick approval.
To secure the best vehicle finance rates, ensure you have a good credit score, provide all necessary documents, and choose a suitable tenure. At TVS Credit, we offer flexible loan options and attractive rates to make owning a used car easier and more affordable.
Yes, TVS Credit provides old vehicle finance for cars of different makes and models. Our loans cover up to 95% of the car’s value, with flexible EMIs and quick processing to help you drive your dream car home without delays.
TVS Credit offers:
You can visit eligibility and documents section of Used Car Loans to know more details.
Interest rates for second-hand car loans vary based on factors like the lender, car condition, and borrower's credit profile.
You can visit our dealer locator page and discover the used car dealers where you can get your old vehicle financed.
Yes, TVS Credit allows refinancing of used cars at attractive lending/interest rates. By refinancing, you can reduce your EMI burden or extend your loan tenure.
You can calculate the EMI amount from our Car valuation Tool ,which also works as a vehicle loan EMI calculator.
You can calculate your EMI using TVS Credit’s Used Car Loans EMI Calculator. Enter the loan amount, tenure, and interest rate to get an exact monthly EMI estimate. This helps you plan your finances and choose a loan offer that suits your budget
Yes, your CIBIL score plays a significant role in getting the lowest interest rate on a Second-Hand Car Loan. Lenders offer better rates to borrowers with good credit scores (750 and above) as it indicates responsible financial behavior.
