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Used Car Loan
Shriram Finance recognises the significance of purchasing a car and provides adaptable and convenient financing options for individuals interested in buying a used car. With our easy and flexible Used Car Loan options, you can be assured that your car purchasing process will be simple and hassle-free. Our loans come with attractive interest rates and repayment options tailored to your budget. Shriram Pre-Owned Car Loan application is quick and easy. Apply for Shriram Used Car Loan today and make your dream car a reality.
Quick Facts
Interest Rates | 10%* p.a. |
Loan Tenure | up to 48 months |
Eligibility Criteria | 21 years |
Loan Amount | Starting from ₹1 lakh |
Features & Benefits
Competitive interest rates
Competitive interest rates on used car loans start at 10%* p.a.
Flexible Repayments
Flexible and convenient repayment tenure of up to 48 months.
Up to 85% financing on Used Car’s Value
Get up to 85% financing on a Pre-Owned Car based on eligibility.
Easy to Apply
With our simple online application process, you can apply in just a few clicks.
Minimal Documentation
With minimal documentation required, you can get the loan quickly and easily.
Quick Approvals & Disbursals
Enjoy the convenience of financing your second-hand car with fast approvals.
Regular Reminders
Get timely notifications, so you never miss a payment
Used Car Loan EMI Calculator
Our Used Car Loan EMI Calculator will help determine your monthly EMIs in no time.
Loan Summary
Loan
How to Apply for Used Car Loan?
Applying for Shriram Used Car Loan is a 4-step process – Easy, seamless and quick.
Step 01
Register using your mobile numberStep 02
Verify OTPStep 03
Enter personal detailsStep 04
Once your application has been submitted, our representative will reach out to you.
Eligibility Criteria & Documents Required
Eligibility for a Pre-Owned Car loan from Shriram Finance depends on the individual and the vehicle. The essential eligibility criteria are as below:
Salaried Individuals
- All Indian residents
- Minimum age of 21 years
- Maximum age of loan maturity at 59 years
- Income requirement as per the vehicle model, vehicle age and repayment tenure
Self Employed
- Minimum age of 21 years
- Maximum age of loan maturity at 59 years
- Income requirement as per the vehicle model, vehicle age and repayment tenure
Required Documents
- Application Form
- Registration Certificate of Vehicle
- KYC Documents
Interest and Charges
Interest Rates
Shriram Second-Hand Car Loan Interest Rate starts at 10%* p.a.
Loan
Get loans starting from ₹ 1 lakh
For interest rate and applicable Fees/charges, please refer our interest rate policy : Interest Rate Policy
FAQs
What is a used car loan?
Used car loan is specifically designed to finance the purchase of a pre-owned vehicle.
What are the benefits of Shriram Used Car Loan?
Shriram Used Car Loans offer several benefits, including better financing and flexible repayment options.
How do I apply for a used car loan?
The application process for a used car loan is simple. You will need to provide contact information on our website and submit your request. Our representative will contact you to process your loan.
What factors does Shriram Finance consider when approving a Used Car Loan?
Shriram Finance typically considers a variety of factors when approving a Used Car Loan, including your income, employment history, age, etc.
How long does it take to get approved for a used car loan?
The approval process for a used car loan varies depending on the individual’s application. The loan will be approved in less than 72 hours after reviewing your application.
Can I get a Used Car Loan with low credit score?
Yes, getting a Used Car Loan with low credit from Shriram Finance is possible.
What is the maximum loan amount for a Used Car Loan?
The maximum loan amount a customer can get for a Used Car Loan is ₹10 Lakhs.
How can I get approved for a Used Car Loan?
It is important to have good credit when applying for a used car loan. You may also need proof of income and other financial documents like bank statements or tax returns to be approved.
What are some tips for getting an affordable Used Car Loan?
- Pay off any existing debt before applying to improve your chances.
- Make sure your credit score is up-to-date before submitting an application.
- Consider making a larger down payment, which will reduce monthly payments.
What is the average interest rate for a Used Car Loan?
The average interest rate on used cars varies depending on several factors such as your credit history, tenure of the loan requested, etc. Shriram Finance offers Used Car Loans at an interest rate starting from 10%* p.a.
Financing your used car is easy and quick