The smart-money way to own a car
A well-chosen pre-owned car saves lakhs — and the right lender makes financing it painless. Loans for dealer and direct-owner purchases, plus refinance on the car you already own.
Used Car Loan
Interest rate
11% p.a. onwards
Funding
Up to 85% of valuation
Funding
Up to 85% of valuation
Interest rate
11% p.a. onwards
Tenure
1 – 5 years
Car age limit
Up to 8–10 yrs at loan close
Why apply through QCred
Dealer or direct-owner, both work
Buy from a certified dealer, a marketplace or directly from the owner — we match lenders comfortable with each route and handle the RC transfer step.
Valuation-backed pricing
Lenders fund against the car's assessed value, not the sticker price. We help you sanity-check the deal before you commit.
Refinance your own car
Own a car outright? Unlock cash against it at rates far below a personal loan — useful for business or emergencies.
Fast, RC-aware process
Hypothecation, insurance transfer and RC endorsement handled as part of the loan — not left as your homework.
Find your best used car loan offers
It takes 2 minutes. This will not affect your credit score.
Eligibility
- Age
- 21 – 65 years
- Income
- ₹18,000+/month or equivalent business income
- Credit score
- 650+ recommended
- Vehicle
- Car age + tenure typically ≤ 8–10 years
Documents
- PAN and Aadhaar
- Income proof (salary slips / ITR)
- Last 3–6 months' bank statements
- RC, insurance and valuation report of the vehicle
Rates & charges
- Interest rate
- 11% – 16% p.a.
- Processing fee
- 1% – 2% of loan amount
- LTV
- Up to 85% of assessed value
- Foreclosure charges
- 2% – 5% (lender-specific)
Indicative ranges across partner lenders; your offer depends on profile and lender policy.
Used Car Loan FAQs
Why are used-car loan rates higher than new-car rates?
The collateral (an older car) depreciates faster and is harder to resell, so lenders price in more risk — typically 2–4% above new-car rates. A strong credit profile narrows that gap.
Can I get a loan for a car bought directly from the owner?
Yes. Several NBFCs and banks fund owner-to-owner sales; the process adds a valuation and an RC-transfer step, both of which we coordinate.
How much of the car's price gets funded?
Up to ~85% of the lender's assessed valuation. If the seller's asking price is above the valuation, the difference is your down payment — a useful negotiation signal.
Get your used car loan moving today
Apply in two minutes or talk to an advisor first — either way, it costs you nothing.