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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 Fee | 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 |
| Cheque bounce charges | Rs. 600 |
| Duplicate NDC/NOC charge | Rs.500 |
For a complete list of charges, please click here.
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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 repayment tenure of up to 60 months with low-interest rates.
Yes, you can get an EMI option for second-hand Car Loans. Checkout the estimated EMI for your 2nd hand Car Loan by using our Used Car Loan EMI 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.
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