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Opting for a used car loan is a smart, value-for-money purchase. We offer used car loans for a wide collection of cars ranging from hatchbacks & SUVs to premium sedans. We extend loans up to 95% loan on your car value and provide flexible EMI repayment options, and quick disbursal of loans which makes Tata Capital the best choice for financing your car.
Now get a Used Car Loan up to ₹50 lakhs from Tata Capital. Tata Capital’s Pre Owned Car Loan offers used car Loans with easy documentation and competitive interest rates. Your favourite Car is just a click away.
Disclaimer: Car Loans are brought to you by Tata Capital Financial Services Limited ("TCFSL") and are at its sole discretion. The indicative interest rates mentioned on the website only pertain to loans availed for cars which are for personal use. For loans for cars which are for commercial use, interest rates may differ. Interest rates may differ from time to time at the discretion of TCFSL. Terms and conditions apply.
Watch this video to find out more about Tata Capital Used Car Loans. Driving your own car is a great joy and we at Tata Capital believe in making this possible for everyone through our Used Car Loans. With us by your side, you can now steer your life in every direction with our Used Card Loans
₹1,00,000 - ₹50,00,000
12 - 60 months
Tata Capital representative will be available at the dealership to assist you with the submission of your documents.
Our Used Car Loan comes with some great features that allow you to enjoy flexibility and comfort at your fingertips.
Hardly any paperwork is required for a Used Car Loan. Almost all the loan activities can be done online without taking the trouble of visiting a branch. The only paperwork we need from you is the application form and rest of the loan-related activities are taken care through our digital platform to make your experience comfortable.
You can decide how you want to repay your loan according to your convenience. Choose from our host of options like ECS, Post-dated cheques and online payment
Our interest rates are the best among all lenders; we offer rates and calculations that benefit you the most.
You can take as high as ₹50,00,000 of loan amount.
We ask for minimal documents while processing your request.
You can get instant approval through our secure platform once we get all the information and documents from you.
Here’s why our Used Car Loan is perfect for you:
No, the EMI is fixed for the life of the loan. However, we offer flexible solutions to fit your requirement.
The loan can be repaid through ECS, Direct debit and post-dated cheques drawn on "Tata Capital Financial Services Limited".
We provide Used Car Loan from a minimum of ₹ 1,00,000/- to a maximum of ₹ 50, 00,000/- depending on your eligibility.
When you take a used car loan from a lending institution, you receive the loan principal in lump sum after the submission and verification of the relevant documents. You will have to repay this principal amount along with the applicable interest on the loan over a pre-determined tenure. You can apply for a used car loan online for faster loan processing.
Availing a used car loan offers the following benefits –
Easy car purchase – Bring home your desired four-wheeler in only a few effortless steps.
No collateral needed – The vehicle you purchase will itself be the loan security. You need not fear risking any additional assets.
High loan amount – You can apply for a loan principal as high as Rs. 50 lakhs and purchase the car of your choice.
Minimum paperwork – You can apply for a used car loan online. This all-digital approach can save you hassles related to heavy paperwork.
Repayment flexibility – For a comfortable repayment experience, get flexibility in terms of the loan tenure and EMI payment – fixed or flexi EMI plans.
Every lender has an upper and lower limit on the amount that you can borrow as used car loan. Tata Capital offers used car finance that covers a wide bracket - from Rs. 1 lakh to Rs. 50 lakhs.
Used car loan interest rate refers to the rate at which interest is to be charged on the principal loan amount for a pre-determined tenure. Tata Capital’s used car loan rates start at just 15% - one of the most competitive interest rates in the market.
Used car loan tenure refers to the period within which a borrower needs to repay their loan, which is equal to the principal amount plus the applicable interest on the loan. The maximum tenure for which Tata Capital offers its used car loans is 60 months or 5 years.
For salaried individuals, the used car loan eligibility criteria are –
Age of the applicant must be between 21 and 65 years.
Salary must be at least Rs. 20,000 per month.
At least one year work experience is mandatory.
Salaried individuals need to furnish –
Photo identity proof documents
Income proof documents
Salary slips for the past three months
Address proof documents
Vehicle Registration Certificate
Telephone or mobile bill
The following are the used car loan eligibility criteria for self-employed individuals –
Age must be between 21 years or above and 65 years or below.
Annual income must be at least Rs. 2 lakhs.
The applicant’s business must have been in existence for at least three years.
Self-employed individuals need to furnish –
Copy of their signature
Income proof for the past three months
Telephone or mobile bill
After you have submitted all relevant documents, a pre-owned car loan online approval generally takes only about 30 minutes. However, the entire used car loan process, right from the time of documentation up until loan sanctioning can take anywhere from 24 to 36 hours.
A co-applicant is someone who applies for a used car loan along with the main borrower and will be equally liable for the repayment of the loan in case of any default on the part of the primary borrower. In case you want to improve your loan eligibility, you can have a co-applicant apply along with you.
The following are the acceptable co-applicants for a pre-owned car loan –
No, no additional collateral or security is needed. The car for which you take the used car loan is itself the collateral that is needed, hypothecated to Tata Capital documentation.
You can apply for a used car loan with Tata Capital in the following ways –
Apply for a car loan online through our website.
Send an email to our customer support team.
Call us on our toll-free number – 1860 267 6060.
Take the help of our virtual assistant TIA.
Visit a nearby branch and talk to our lending experts.
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