Pre-Owned Car Loan

Why Choose Us?

Loan up to ₹2.5 crore

Digital
process

Flexible
Tenure

End-to-End
advisory

What’s in store for you?

Get your dream car home today

Apply Now
Pre-Owned Car Loan

Pre-Owned Car Loan EMI Calculator

A simple, hassle-free tool to calculate your Car Loan EMIs

Buying a

₹
₹ 50000₹ 50,00,000
For
Years
Months
12 months96 months
%
13.50% PA17.50% PA
Your Monthly EMI will be

₹

Amount Payable

₹

Interest Amount

₹

Principal Amount

₹

Apply Now

Other Types of Car Loan

img

Get your dream car today!

Interest Rate for Pre-Owned Car Loan 

Starting from 11.25%* p.a.

(Terms & Conditions Apply*)

View Rates

Loan Benefits & Features

Loan Benefits

  • Premium service
    HDFC Bank provides unmatched service to customers. You can benefit from end-to-end advisory from research to transfer of title.
  • Flexible repayment
    Get access to flexible repayment tenure from 18 months to 84 months. You can avail of convenient and customised repayment plans. You can enjoy preferential pricing if you are an existing HDFC Bank customer.
  • Efficient process
    Experience a hassle-free loan application process, and quick approval and disbursal. Track your loan application anytime and enjoy doorstep service. You can even check your eligibility for an HDFC Bank Car Loan in just 60 seconds!
  • Minimal Paperwork
    Short on documents? HDFC Bank offers hassle-free Pre-Owned Car Loan without income proof! Enjoy up to 80% of your car's value for three years or 85% for five years. 
  • Search assistance
    Apart from used car financing, you can also opt for car search assistance to ensure you get the best car you deserve. Compare, research and read the reviews of different cars on HDFC Bank’s Car Bazaar. Search for different cars by price, brand and EMIs to get the best deal.
Smart EMI

Loan Details

With HDFC Bank, you can get a Pre-Owned Car Loan of up to ₹2.5 crore.

  • Get a 100% loan for a pre-owned car in just 30 minutes.
  • Get a loan on a wide range of cars and multi-utility vehicles.
  • Receive a Used Car Loan of up to 3 to 6 times your annual income.
  • The age of your car at loan maturity should not exceed 10 years.
  • The maximum loan tenure you can select is 60 months.

*Terms and conditions apply; offer valid only on specific models.

Smart EMI

Fees & Charges

The HDFC Bank Pre-Owned Car Loan Rates & Fees are as follows:

Premature Closure Charges for Full Payment

  • Within 1 Year: 6% of Principal Outstanding
  • 13 to 24 Months from 1st EMI: 5% of Principal Outstanding
  • Post 24 Months from 1st EMI: 3% of Principal Outstanding

Note: There are no premature closure charges for fixed-rate loans up to ₹50 lakh availed by Micro and Small Enterprises when closed from their own sources.

Premature Closure Charges for Part Payment

  • Part Payment Limitations:

    • Allowed twice during the loan tenure.
    • Only one part payment is permitted per year.
    • Part payment cannot exceed 25% of the Principal Outstanding at any time.
  • Charges:

    • Within 24 Months from 1st EMI: 5% of the part payment amount.
    • Post 24 Months from 1st EMI: 3% of the part payment amount.

Note: There are no premature closure charges for part payments on fixed-rate loan facilities up to ₹50 lakh availed by Micro and Small Enterprises when closed from their own sources.

Click here to view more details of the fees and charges.

 

Smart EMI

Most Important Terms & Conditions

*The Most Important Terms and Conditions for each of our banking offerings features all the specific terms and conditions that govern their use. You must go through it thoroughly to fully understand the terms and conditions applicable to any banking product you choose.   

Smart EMI

Digital Lending Apps/Platforms

Product Digital Lending App (DLA) Active Locations
Auto Loan Leadinsta PAN India
Loan Assist
Xpress Car Loan
Adobe
pd-smart-emi

Wondering if you are eligible?

Salaried

  • Nationality: Indian
  • Age: 21- 60 years
  • Occupation: CAs, Doctors and employees of Private limited companies and public sector undertakings, including central, state and local bodies.
  • Income:  ₹3 Lakh per annum

Self Employed

  • Nationality: Indian
  • Age: 25 - 65 years
  • Occupation: Manufacturing, trading or services
  • Income: ₹2.5 Lakh per annum
Pre-Owned Car Loan
Know More

Documents required to get you started

Identity & Address Proof

  • Valid Passport
  • Permanent Driving License (recent, legible, laminated)
  • Voter ID Card
  • Job Card issued by NREGA
  • Letter issued by the National Population Register containing name & address
  • Aadhar Card (submitted voluntarily & backed by Aadhaar consent letter; 1st 8 digits redacted; can be physical or printout of e-Aadhaar not older than 30 days)

Income Proof

  • Latest Salary Slip
  • Latest Form 16 / Latest ITR
  • HDFC Bank Corporate Salary Account statement for salary credits above ₹80,000 for the previous 3 months

Signature Verification Proof

  • Passport Copy
  • Photo Driving License with DOB (recent, legible, laminated)
  • Credit Card Statement with Credit Card Copy
  • Banker's Verification
  • Copy of Margin Money Paid to the Bank
Know More

More About Pre-Owned Car Loan

HDFC Bank offers flexible loan options with funding up to ₹2.5 crore or 100% of the car's value in just 30 minutes. You can also enjoy flexible loan tenures between 18 and 84 months, with preferential pricing for existing HDFC Bank customers. You also get expert assistance with car research, price comparisons and transfer guidance at HDFC Bank's Car Bazaar. Additionally, loans without proof of income offer 80-85% LTV of the car's value for three years.

A pre-owned car loan offers benefits such as attractive interest rates, affordable monthly payments, minimal documents and easier approval compared to new car loans. It enables you to purchase reliable used vehicles with manageable finances, often including flexible repayment terms and the option to finance the entire purchase amount.

You can apply for a Pre-Owned Car Loan via:   

Digital Application  

MobileBanking 

NetBanking 

Branches  

Online application process:    

Step 1: Check your eligibility for the loan

Step 2: Choose your loan amount, tenure & interest rate using our online calculator

Step 3: Fill out the application form with your personal and employment details

Step 4: Submit required identity, address & income proof documents*

Step 5: Review your application for accuracy and submit it for processing

*In certain cases, completing video KYC might be required.  

Frequently Asked Questions  

A Car Loan For Used Cars is a financing option that allows you to purchase a pre-owned vehicle by borrowing money from a lender. The loan covers the car's cost, which you repay over time with interest, making it easier to afford a used vehicle.

Yes, banks offer loans for second-hand cars. To obtain funding, you need to meet their eligibility criteria. 

The maximum tenure varies with the lender, but if you are applying with HDFC Bank, you can choose a tenure ranging from 18 to 84 months.

Drive your dream car today with XPRESS Car Loan!

Apply Now