Upgrade Your Ride, Upgrade Your Lifestyle
Get flexible loans for pre-owned cars and make your next move effortlessly.
Used Car Loan Overview
Used Car Loan helps you finance a pre-owned vehicle with flexible tenure and competitive interest rates. Borrowers can quickly get the funds needed to purchase a used car.
Features and Benefits of our Used Car Loan
- Loan up to 80–90% of the car’s market value
- Flexible repayment tenure from 12 to 60 months
- Quick approval and minimal documentation
- Option for both salaried and self-employed individuals
Used Car Loan Eligibility and Documents
Read on to know the criteria required to apply for our Car Loan.
Used Car Loan Eligibility
- Applicant Age: 21–60 years
- Salaried Individuals: Minimum 1 year of employment with proof of income
- Self-employed Individuals: Minimum 2 years of business continuity with ITR
- Car Age: Typically up to 14 years
- Credit Score: 700+ preferred
Documents Required to Apply for Used Car Loan
- Identity Proof: Aadhaar / PAN / Passport
- Address Proof: Utility Bill / Voter ID / Passport
- Income Proof: Salary slips / ITR
- Bank Statements: Last 6 months
- Car RC & Insurance documents
- Passport-size photographs
Fees and Charges for Used Car Loan
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 1% – 2% of loan amount |
| Documentation Charges | As applicable |
| Foreclosure / Prepayment Charges | Applicable |
Used Car Loan Reviews
I thought getting a loan for a used car would be tough. Taurus made it simple and arranged the best offer quickly.
Karan Mehta
Banks had strict terms for my used car loan. Taurus guided me to the right NBFC and the process was smooth.
Pooja Sinha
I needed fast approval to close my used car deal. Taurus compared lenders and got it sanctioned in no time.
Arvind Khanna
Other lenders quoted high rates. Taurus helped me secure a lower EMI that fit my budget.
Shreya Nair
Used Car Loan FAQs
A loan to finance the purchase of a pre-owned car.
Yes, typically cars up to 14 years old.
Yes, prepayment or foreclosure is allowed.