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Loan for Second Hand Vehicle

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Valid till 31st May '26 *T&C Apply
Instant Personal Loan

Get up to ₹50 Lakhs starting at 9.98%

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15.6L Reviews

5.7cr+Satisfied Customers
65+Lending Partners
₹65k Cr+Loans Disbursed
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HDFC Bank
10 Second Disbursal*100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 12.5%
Tenure upto1-5 Years
Processing Fee6,500
ICICI Bank
100% Digital Process*Quick Disbursal
Max Loan Amt.Upto 25L
Rate of Interest11% - 13%
Tenure upto1-5 Years
Processing FeeUpto 2%
Axis Bank
Low Processing fee
Max Loan Amt.Upto 25L
Rate of Interest9.99% - 17.15%
Tenure uptoUpto 6 Years
Processing FeeUpto 2%
Why Choose Paisabazaar?
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End-to-End Digital Process

How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

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Used Car Loan Online

The interest rates of Used Car Loans usually start from around 10% p.a. with some PSU banks offering lower interest rates. However, the final interest rate offered would depend on the car’s model and age in addition to the applicant’s credit profile. Hence, a prospective used car buyer having a good credit score and satisfying the income, occupation profile and other Personal Loan eligibility criterion set by the lender have high chances of availing Personal Loan at same or lower interest rates than Used Car Loans.

Loan Amount for Personal Loans and Pre-Owned Car Loans

Lenders generally provide LTV ratios of up to 80% for pre-owned car loans. Some lenders claim to offer higher LTV ratios for the Used Car Loan. LTV ratio is the proportion of a car’s value financed through the Used Car Loan. The rest of the component has to be financed by the buyer from his/her own sources in the form of down payment.

However, the LTV ratio would not depend on the purchase price arrived between the car buyer and seller. Instead, the LTV ratio would depend on the value of the car arrived at by the lender after factoring in the age and model of the used car. This increases the possibility of arriving at lower values for pre-owned vehicles than the purchase price paid by the car buyer and thus, can result in lower amounts.

For example, if the purchase price of a pre-owned car is Rs. 4 Lakhs and the lender arrives at a value of Rs. 3 Lakhs on using its valuation process, your loan amount would be Rs 2.4 Lakhs, assuming an LTV ratio of 80% for Rs. 3 Lakhs value. The rest of your purchase price, i.e. Rs. 1.6 Lakhs, has to be paid from your own pocket. However, if you go for a Personal Loan, you can take a loan of up to Rs. 4 Lakhs, depending on your monthly income and repayment capacity. Thus, you can use the entire proceeds to pay for your car purchase without burdening your finances.

Loan Tenure for Personal Loans and Used Car Loans

The loan tenure for a Used Car Loan usually goes up to 5 years, with some lenders offering up to 10 years for repayment of the entire loan. However, the final tenure may also depend on other factors like the age and condition of the used car. For example, a lender offering a Used Car Loan requires you to repay the loan within 10 years of your vehicle’s original purchase date, subject to a maximum loan tenure of 5 years. Therefore, if you buy a 7-year-old car, you will have to repay the loan within 3 years.

In case of Personal Loan, lenders usually offer tenures of up to 5 years, with some lenders offering tenures of up to 7 years. Thus, if you avail a Personal Loan for financing a pre-owned car purchase, you can opt for loan tenure based on your repayment capacity, irrespective of the age and condition of your used car.

Loan Approval Process for Personal Loans and Pre-Owned Car Loans

Being an unsecured loan, the loan approval process for Personal Loans is quicker and less cumbersome than Used Car Loans. The loan processing can become more complicated if you buy a used car from an unorganized player in the pre-owned car segment.

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How Can I Apply for a Personal Loan Online?

Get up to 40 Lakh in 5 Simple Steps

Step 1: Enter your mobile number in the application form

Step 2: Provide your personal details

Step 3: Enter OTP to verify your mobile number

Step 4: Select the loan purpose and loan amount

Step 5: Compare offers and apply for the best-suited loan

Apply Now

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All Your Needs

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What our customers say

Smooth & hassle-free loan approval experience

I want to express my gratitude for your exceptional support & guidance throughout my loan application process to Aman (EW17239). Your professionalism & clear communication made the journey smooth and manageable. I appreciate how you helped during loan approval & fast-tracked the documentation. It is rare to find someone so committed to their clients. I truly value the effort you put into ensuring a successful outcome. Thanks again for your invaluable help.

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Sanjay Kumar GuptaMar 30, 2026

Exceptional guidance throughout the process

I’d like to express my sincere appreciation for Mr. Aman Kumar (EW32023) for the excellent assistance provided. His professionalism & willingness to help made the experience smooth & pleasant. Aman Kumar demonstrated patience & clarity while addressing queries and ensured that everything was handled efficiently. Such dedication & customer-focused service truly deserve recognition. Please convey my thanks and appreciation to him for his outstanding support.

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Jyotirmoy SinghaMar 23, 2026

Very helpful and easy to reach

I really wants to appreciate Mohankumar Dhandapani for closing my loan requirement in such a short time and nice manner. He is very much approachable helped me based on my requirements. He explained me all the options in very short time even one option failed immediately helped me to get other options worked. Excellent job done by Mohankumar Dhandapani all the best keep you same way approachable you will get more customers. Thanks to Paisabazar too.

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Kirubagaran GanesanFeb 24, 2026

Reliable help when i needed it most

I am writing this email to express my sincere thanks for your excellent support and guidance on Paisabazaar. My experience was very smooth and satisfying because of your help. You explained everything clearly and made the whole process easy and comfortable for me. I truly appreciate your professionalism, patience, and quick response. I am very happy with the service and would definitely recommend to others because of the great support I received from you. Thank you once again

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DharmeshFeb 22, 2026

Committed support that made everything easy

I’d like to appreciate the Paisabazar team for the excellent loan service. I especially want to recognize one of your agents, Mr. Prince Kumar, for his outstanding support. For more than a month, he continuously followed up with me and assisted me. His commitment & professionalism made the experience smooth & hassle-free. I appreciate his efforts and dedication. Kindly acknowledge his performance and consider rewarding such a sincere employee.

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BhupendraFeb 18, 2026

My Trust in Paisabazaar has Increased

I would like to take a moment to share my sincere feedback regarding the support I received from your team. The executive who assisted me was extremely professional, polite, and knowledgeable. They patiently understood my concern, explained the process clearly, and guided me step by step toward the right solution. I truly appreciate the transparency, timely responses, and genuine effort shown to help me.

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Lalit MaviFeb 12, 2026

Best Place for Taking Loans

I contacted customer care with a few queries, and I am very satisfied with the support I received. The representative was polite, patient, and explained everything clearly. My questions were resolved properly, and the overall experience was smooth and helpful. Thank you for the excellent customer service

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Kokil BarnwalFeb 12, 2026

Easy loan approval with good guidance

Thank you for the support provided for getting personal loan approval. During this process I worked with Mr. Aman Bajpai (EW17239) who was co-ordinator for this entire process of Personal loan, I was incredibly impressed by his efficiency and problem-solving skills. He went out of their way to ensure all my questions were answered and that the disbursement timeline stayed on track. His coordination was really appreciable.

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Riyaj AtarFeb 9, 2026

Apne higher education ke liye loan liya tha

Muhje higher education ke liye loan chahiye tha. Paisabazaar pe apply kiya. Got it at the right time. Quite helpful.

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Puja DanuJan 22, 2026

Sabse jada helpful log the yaha

Maine bht jagah try kiya tha personal loan ka, yaha try kiya toh helpful log mille. Har steps mai aram se samjhaya or usse muhje loan lene mai jda dikkat nhi aayi.

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Anuradha GuptaJan 21, 2026
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Vandana Punj
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Shamik Ghosh

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