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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.
A Used Car Loan comes with a variety of benefits. From instant Loan approvals to Loan disbursals without any income proof, we provide you with the best Used Car Loans. Here are the key benefits and features:
Once your documents are verified, you can get your Used Car Loan approved in just 4 hours with an instant Loan approval process.
Bring home a pre-owned car of your choice at a minimal downpayment. Get funding up to 95%.
Get Used Car Loans without any income proof. This ensures that the Loan process is easy and more accessible to individuals with no traditional income documentation.
Enjoy convenient and flexible monthly repayment options from 12 to 60 months. Using the Used Car Valuation Tool, estimate your potential EMI.
Enjoy a smooth and trouble-free process when applying for a Used Car Loan, with minimal paperwork. We believe in a straightforward and uncomplicated documentation process.
Flexible interest rates make owning a second-hand car easier. Avail 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 Tenor is <= 12 months: 3% on principal outstanding b) Remaining Loan tenor is from >12 to <=24 months: 4% on principal outstanding c) Remaining Loan tenor is > 24 months: 5% on principal outstanding |
Other Charges |
| Bounce Charges | Maximum Rs.750 |
| Duplicate NDC/NOC charges | Maximum Rs.500 |
For a complete list of charges, please click here
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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To determine your eligibility for a Used Car Loan, you can review the criteria based on your employment type. Please ensure that you meet all the eligibility requirements mentioned below before applying for a Used Car Loan.
Proper documentation plays a major role in quicker loan approval. Here is a list of documents required for salaried and self-employed individuals to secure a Used Car Loan.
Decide on the pre-owned car you want to purchase.
Submit the required documents and get an instant approval.
Get your Loan processed and bring home your desired car.
Welcome back, submit the below-mentioned details and get a new used car loan.
OTP will be sent your mobile number
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.
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