| Schedule of Charges | Charges (inclusive of GST) |
|---|---|
| Processing Fees | Maximum Up to 5.9% |
| Penal Charges (excluding GST) | 36% per annum on unpaid instalment |
| Foreclosure Charges |
|
| Other Charges | |
| Bounce Charges | Maximum ₹750 |
| Duplicate NDC/NOC Charges - Physical Copy | ₹500 |
For a complete list of charges, please Click Here
Here’s all you need to know about your eligibility for a Used Car Loan.
Used cars are no doubt a smart choice if you want a balance of affordability and convenience. No need to drain all your savings at once to buy your dream car. A used car loan makes it even easier to own a pre-owned car with quick processing and manageable EMIs. This is why TVS Credit offers used car loans that are designed to be practical and flexible to suit your varying financing needs.
TVS Credit used car loans are more accessible with competitive interest rates, flexible repayment tenures, and easy documentation. The best part is that the entire loan journey is quick and easy- loan approval in 4 hours with up to 95%* financing, and you do not even need traditional income proof in many cases. Instant approval allows quick funds, making second-hand cars affordable now more than ever.
Following are the key charges levied on used car loans:
Note that there can be additional charges involved in a used car loan.
Meet the following eligibility criteria for a used car loan:
Get your used car loan approved quickly by furnishing the following documents:
For Salaried/Self Employed Individuals
|
ID and Signature Proof |
Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport |
|
Age Proof |
PAN Card |
|
Address Proof |
Copy of Ration Card/Passport/Electricity Bill |
|
Income Proof |
Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income |
|
Asset Documents |
Photocopy of Vehicle RC Book and Insurance Certificate |
|
Other Documents |
Bank Statement or Passbook |
For Proprietorship and/or partnership firm
|
ID and Signature Proof |
Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport |
|
Age Proof |
PAN Card |
|
Address Proof |
Copy of Ration Card/Passport/Electricity Bill |
|
Income Proof |
Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income |
|
Asset Documents |
Photocopy of Vehicle RC Book and Insurance Certificate |
|
Other Documents |
Bank Statement or Passbook, Shop Act or Business Proof, Partnership deed with a declaration for partnership firm, Repayment track of existing or completed loan, TDS Certificate, GST Certificate |
For Private and/or public limited companies
|
ID and Signature Proof |
Copy of Voter’s ID/Driving Licence/Aadhaar Card/PAN Card/Passport |
|
Age Proof |
PAN Card |
|
Address Proof |
Copy of Ration Card/Passport/Electricity Bill |
|
Income Proof |
Copy of Income Document like Salary Slip/Form 16/ITR with Computation of Income |
|
Other Documents |
Bank Statement or Passbook, MOA/AOA with board resolution for private/public ltd. firm |
Apply for a Used Car Loan online in 3...2..1.
The repayment tenure of up to 60 months is available for used car loans.
You can get up to 95%* financing with a TVS Credit Used Car Loan.
TVS Credit Used Car Loan offers competitive interest rates, quick approval, minimal documentation, and no hidden charges.
The interest rate for a used car loan is dependent on various factors, including the lender, car condition, and borrower's credit profile.
Your eligibility to avail of a Used Car Loan improves if you have a credit score of 750 or above.
