Used Car Loan

In today’s world, a car has become a necessity. Hence, going in for a used car loan is a smart and value-for-money purchase. If you are looking to buy your first car or looking to buy a car to learn how to drive, then purchasing a used car makes sense. We offer to our customers used car finance to help reduce the financial blow buying a car may have. Do remember, buying a used car does come with additional costs like a thorough round of cleaning and servicing.

Always remember, a second-hand car can be purchased with the help of a used car loan. You could purchase this car from either friends, family or other unknown car owners. Such loans usually have attractive interest rates. They are not too strenuous on the pocket and have a repayment tenure of up to 7 years.

If you are looking for a used car loan, you can get one up to ₹5 lakhs at PaySense. Paysense’ pre-owned car loan offers used car loans with minimal documentation, highly competitive interest rates and no collateral or security. Hence, we take you one step closer to your dream of owning a car.

Features and Benefits of Used Car Loan

Getting a second-hand car loan is a good decision. Applying for a used car finance option is simple and has multiple benefits. Some of the features and benefits of the Paysense’s used car loan are:

1. Quick used car loan Processing: If you avail a used car loan with Paysense, one of the best perks is that the car loan can get processed instantly. You can get a loan amount for anything between INR 5,000 and INR 500,000 to help realize your dream of buying a car.
2. Attractive used car loan interest rates: The interest rates that we offer for used car loans at Paysense are highly attractive and competitive. You can use the second-hand car EMI calculator to understand and plan your repayment schedule so that you are not burdened by the used car loan interest rate.
3. Zero credit history required: Even if this is the first time you are look to get a used car loan, there are no worries. We do not need a credit history check to disburse this loan amount.
4. Affordable second-hand car EMIs: Easy to manage EMI plans with reminders and auto-debit features so that you don’t miss out on timely re-payments of your second-hand car loan.

How to apply for a Used Car Loan on PaySense

Are you looking to apply for a second-hand car loan? Here is how you can do so in three simple steps:

1. Check Eligibility: You need to check if you are eligible to get a used car loan in order to buy your vehicle. To check if you are eligible you need to fulfil the following criteria:
   • Be a resident Indian
   • Be above the age of 21 and below the age of 60
   • Have a stable job that pays a monthly salary of at least INR 12,000
2. Upload required KYC Documents: You will need some documents to be ready to be either submitted or uploaded. Those documents for the used car loan are:
   • Aadhaar Card
   • Pan Car
   • Electricity bills
   • Bank statements
   • A photograph
3. Link bank account for loan disbursement: All you need to do is link your bank account in which the loan amount that you are looking for will be disbursed. You will then receive your used car loan and you can begin shopping.