Pre-Owned Car Loan

A good second-hand car can be bought with the help of a used car loan. Used car loans are provided at attractive interest rates and come with a repayment tenure of up to 7 years.

Certain lenders provide loans of up to 100% of the car's value. Most banks and NBFCs provide used car loans. Self-employed individuals and salaried employees can avail themselves of a used car loan.

Top Lenders Offering Pre-Owned Car Loans

Lender	Interest Rate	Repayment Tenure
State Bank of India	11.40% p.a. - 14.90% p.a.	5 years (maximum)
Tata Capital	Starts from 14.99% p.a. onwards	1 year to 5 years
HDFC Bank	13.75% p.a. onwards (Rack Interest)	7 years
Punjab National Bank	Starts from 9.80% p.a.	5 years
Axis Bank	13.55% p.a. - 15.80% p.a.	5 years
Mahindra Finance	Contact the bank	5 years