Apply Now For Fast Used Car Loan Up To ₹50 Lakh
We are Bankstore – India’s trusted loan partner, helping you buy your dream pre-owned car with ease. Enjoy fast approvals, competitive interest rates, and a 100% digital process. Join thousands of happy car owners today. Apply now for Used Car Loans starting from ₹1 Lakh to ₹50 Lakh.
- Quick Disbursal
- Hassle-Free Paperwork
- 100% Online Application
- Trusted by Car Buyers Across India
Features of Our Used Car Loan:
- Loan Amount: ₹1,00,000 to ₹50,00,000
- Flexible Repayment: 1 to 7 years repayment options
- Online Process: Apply from your home, 100% digitally
- Quick Approval:Get pre-approved in minutes
- Minimal Documentation: PAN, Aadhaar, Income Proof, Vehicle Details
- Attractive Interest Rates: From 14-18% p.a.*
- No Collateral: Sedans, SUVs, Hatchbacks, Luxury Cars
Use Your Used Car Loan For:
- Loan Against Used Car (Refinancing)
- Certified Second-hand Cars
- Top-Up Loan on Existing Used Car Loan
Eligibility Criteria for Used Car Loan
Age Requirement
21 to 65 years old.
Credit Score:
Preferably 600+
Minimum Monthly Income
₹20,000
Nationality
Must be an Indian citizen
Employment Type
Salaried or Self-employed
Documents Needed
- PAN Card
- Aadhar Card
- Salary Slips (Last 3 months)
- ITR with computation of income (Last 2 years)
- Form 16
- Car Documents (RC, Insurance, Invoice)
- Employment or Business Proof
- Address Proof
- Bank Statements (Last 6 months)
- RC Book
How to Apply for a Used Car Loan?
Loan Product Suite – Use Cases:
- Used Car Loan for Salaried
- Used Car Loan for Self-employed
- Loan Against Car
- Certified Used Car Loan
- Top-up Loan on Existing Vehicle Loan
Used Car Loan EMI Calculator
Easily calculate your monthly Used Car Loan EMI with our quick and accurate calculator. Just enter the loan amount, interest rate, and tenure to get instant results. Perfect tool for planning your finances smartly.
Your EMI Details
Loan EMI
₹ 0.00
Total Interest Payable
₹ 0.00
Total Payment
₹ 0.00
Loan Against Used Car: Everything You Need to Know
A Loan Against Used Car is a smart financial solution that allows car owners to unlock the value of their vehicle without selling it. Whether you need funds for emergencies, business expansion, medical needs, or any other purpose, pledging your used car as collateral can help you access quick and affordable credit.
In this guide, we’ll cover everything you need to know about loans against used cars, including eligibility, interest rates, benefits, documents required, and top banks offering this service in India.
What is a Loan Against Used Car?
A Loan Against Used Car (also known as a car refinance loan or car equity loan) is a secured loan where you pledge your existing vehicle as collateral to get funding from a bank or financial institution. The loan amount is usually a percentage of the car’s current market value, and the car remains with you even after availing the loan.
Benefits of Loan Against Used Car
1. Quick Processing: Fast approval and disbursal, often within 48–72 hours.
2. Lower Interest Rates: Compared to personal loans, rates are lower since the loan is secured.
3. No Need to Sell: You continue using the car while availing funds.
4. Flexible Repayment: Choose tenure and EMI based on your budget.
5. Minimal Documentation: Basic KYC and vehicle-related documents are enough.
Frequently Asked Questions (FAQ)
- Home loans :
For buying, constructing, or renovating your home.
- Personal Loan :
For personal needs such as travel, education, or emergencies
- Business Loan :
For expanding your enterprise
- Education Loan :
For studies in India or abroad
- Used Car Loan :
For a pre-owned car, Loan Against Used Car
- Loan Against Property :
Secured loan using property as collateral
- Self-employed professionals
- Salaried employees
- Small business owners
Yes, we offer loans for cars bought from individuals as well as dealerships.