Top Offer for Used Car loan
LoanTap has customised Loan offers to help you purchase a pre-owned car.
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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
Flexible Repayment Option
Higher Loan Amount
Longer Loan Tenure
Minimum documents
Transparent Process
Eligibility criteria for availing Used Car Loan
- Individuals with a minimum income of INR 30,000 can apply for a Used Car Loan
- Indian Citizen/Residents who are 21 years & above
Basic Documents required for availing Used Car Loan
- PAN Card
- Salary Slips (last 3 months)
- Salary Account Bank Statement (3/6 months)
- Address Proof
Benefits of opting for a Used Car
Cost effective
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.
Low Depreciation
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.
No additional Fees & Taxes
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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