Used Car Loan
Own the car you need with second-hand car finance that's fast, simple and flexible.
Overview
IndoStar's used car loan helps salaried and self-employed customers buy pre-owned cars and MUVs — for family use or for business. We offer flexible eligibility, including for customers with a limited credit history.
Features & Benefits
- Loans for pre-owned cars and MUVs
- Funding for personal and commercial use
- Flexible eligibility for thin-file customers
- Minimal documentation
- Tenures up to 60 months
- Quick disbursal
Eligibility Norms
- Salaried or self-employed individuals
- Age 21 to 65 years at loan maturity
- Car up to 10 years old at loan maturity
Documents Required
KYC Documents
- PAN card
- Aadhaar card / voter ID / passport
- Recent passport-size photographs
- Address proof (utility bill or rent agreement)
Income Documents
- Last 6 months' bank statements
- ITR / GST returns where available
- Existing transport contracts or work orders (if any)
Vehicle Documents
- Proforma invoice (new vehicle)
- RC, insurance and fitness certificate (used vehicle)
- Valuation report arranged by IndoStar
Apply In Simple Steps
Share Your Details
Fill the enquiry form, call 022-50799503 or message us on WhatsApp.
Quick Evaluation
Our branch officer visits you, checks the vehicle and collects KYC documents.
Sanction & Disbursal
Get your sanction and disbursal quickly, with EMIs matched to your earnings.
Interest Rates & Fees
- Interest rates are determined by the applicant's profile, vehicle type, age and tenure, as per IndoStar's interest rate policy.
- Processing fees, documentation charges and other applicable charges are disclosed upfront in the sanction letter.
- Please refer to the Statutory Disclosure page for the schedule of charges and interest rate policy.
Frequently Asked Questions
How quickly can my vehicle loan be disbursed?
Once documents and vehicle evaluation are complete, most loans are sanctioned and disbursed within a few working days.
Can I apply if I am a first-time buyer?
Yes. IndoStar finances first-time buyers and first-time users, assessing your earning potential and local references.
Can I get a used car loan with a low CIBIL score?
We look beyond the score at income stability and references; approval is subject to IndoStar's credit assessment.