Used Car Loans
Overview

Your dream of owning a vehicle is now easily a reality! Ride your own four-wheeler with our Used Car Loans, as we offer to you the best deals for financing used cars with hassle-free procedures, low-interest rates and faster approval of loans.

Key Benefits and Features



Flexible repayment options, ranging from 12 to 60 months.

Flexible repayment options, ranging from 12 to 60 months.

Attractive Schemes

Attractive Schemes

Attractive interest rates.

Attractive interest rates.

Quick approval

Quick approval

We provide loans under income base, no income base, and asset proof base.

We provide loans under income base, no income base, and asset proof base.

Hassle free loans.

Hassle free loans.

Easy and simple documentation

Easy and simple documentation

We provide loans up to 95% for specific models under specific schemes*

We provide loans up to 95% for specific models under specific schemes*

Simple and easy application process

Simple and easy application process

Flexible tenure

Flexible tenure

Quick disbursement

Quick disbursement

Loans ranging from RS.50,000 to 10 Lakhs

Loans ranging from RS.50,000 to 10 Lakhs

Used Car Loan Eligibility

In order to find out if you meet our used car loan eligibility, you have to fulfill only a few conditions after which we process your loan.

01

Salaried / Self-employed person / Agriculturist

02

Age between 21(at the time of application) and 65(at the end of the loan tenure)

03

Minimum net Salary – 15,000 p.m / net profit of Rs.1, 50,000/- p.a.

Documentation

Valid identity proof: Any one of passport / Adhaar card / voters ID card / driving license / PAN card

Valid address proof: Any one of passport / Aadhaar card / voters ID card / driving license / telephone bill / electricity bill / gas connection bills / ration card / LIC policy.

Income proof: ITR / form 16 / pay slip / salary credit in bank statement

Asset proof: Latest land / building / house tax reciept

Recent passport size photo

EMI Calculator

Loan

Tenure(Months)

Tenure

Interest Rate

%

Monthly EMI

₹1750

EMI Calculator

Loan

Tenure (Years)

Tenure

Interest Rate

%

Monthly EMI

₹1750

Frequently Asked Questions

Interest rates starts at 14.5% for Used Car*. Rates may vary based on the schemes.*Terms and conditions apply

Maximum of 95% of the insurance declared value (IDV) / market value subject to the condition of the vehicle.

Tenure can be chosen from any of the well-paced repayment options ranging from 12 to 60 months, subject to the age of the vehicle not exceeding 10 years at the time of maturity of the loan.

NACH is the primary repayment mode. You can pay through our exclusive M-Power android mobile app using Debit Card / UPI / Internet Banking.

Yes. The loan can be prepaid any time, with a nominal additional charge.

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Muthoot Capital Services Ltd.