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 |