Top Offer for Used Car loan

LoanTap has customised Loan offers to help you purchase a pre-owned car.

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Used Car Term Loan

You can now own your own car by choosing LoanTap’s Used Car Loan. This is an ideal option if you are looking forward to purchasing any car ranging from INR 50,000 to INR 10,00,000 . You can repay back your used car loan in Fixed Equated Monthly installments where interest is recalculated on the fresh principal outstanding every month. This offer is best suited for you if you are sure of the exact loan amount and tenure and your income is constant.

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Why take LoanTap’s Used Car Loan?

Did you know you could take home your pre-owned car in less than 24 hours !! You can now avail used car loans up to Rs. 10,00,000 on a wide range of used cars / vehicles of your choice. You can borrow up to 100% of the value of the car* and pay in small installments across a tenure of 12 to 36 months.

Instant Approval & Disbursal

Avail Used Car Loan online in less than 24 hours.

Flexible Repayments

Choose how you want to repay your Loan for Used Cars. You can avail a fixed EMI option spread throughout the loan tenure.

Minimum Documentation

You can get a Used Car on EMI with basic minimum documents

Transparent Process

Our Used Car Loans come with No hidden or pre-closure charges.

Eligibility criteria for availing Used Car Loan

If you are looking forward to buy a Used Car on EMI, you must qualify under the below mentioned eligibility criteria

  1. Individuals with a minimum income of INR 30,000 can apply for a Used Car Loan
  2. Indian Citizen/Residents who are 21 years & above
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Basic Documents required for availing Used Car Loan

If you are looking forward to buy a Used Car on EMI, you must qualify under the below mentioned eligibility criteria

  1. PAN Card
  2. Salary Slips (last 3 months)
  3. Salary Account Bank Statement (3/6 months)
  4. Address Proof
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Benefits of opting for a Used Car

Cost effective

Purchasing brand new cars proves to be very expensive especially when you desire to own a specific model like a compact SUV or a sedan. Thus, choosing to go for a pre-owned vehicle would not only let you select a car of your choice but also would cost you much less than the brand new version of the same car model.

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Low Depreciation

The value of your new car starts depreciating the moment it leaves the showroom. For example, most common depreciation rate is 20% per year, summing up to 50% in the initial years itself. Selecting a pre-owned car helps you avoid value depreciation.

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No additional Fees & Taxes

By choosing a pre-owned car, you can avoid the government taxes like road tax, green tax as the previous owner would have done the needful during the purchase.

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How we provide Used Car Loans in 24-36 hours

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Online Application

Apply online and upload basic documents to get a Used Car on EMI. You can even verify KYC online in 2 minutes

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Record your time for Representative visit

Download documents as per checklist, sign and handover to our representative or complete the steps online if your Aadhar is linked to your mobile number

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KYC & Fund Transfer

Once your loan is approved, we activate instant disbursal of your Used Car Loan

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Apply Using WhatsApp

Download the App & Apply Now!