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Pre owned Car Loan

Bring home wheels of happiness by availing our Pre-owned car loans. Our customised loans offer low down payment, quick sanction & disbursement and flexible tenures. To cater to today’s customer needs we provide Loan Against Vehicle (LAV). These loans can be availed against loan free vehicles and loan against your existing vehicle.

Used Car Loan Features and Advantages

Used Car Loan Eligibility and Documents

Eligibility for a pre-owned car loan from Mahindra Finance depends on the individual appraisal and the product, and all loans are given at the sole discretion of the company. The basic eligibility criteria are as below:

Salaried Individuals:

  • All Indian residents
  • Minimum age of 21 years
  • Maximum age of loan maturity at 60 years
  • Income requirement as per the vehicle model, vehicle age and repayment tenure

Self Employed:

  • Minimum age of 21 years
  • Maximum age of loan maturity at 65 years
  • Minimum employment of at least 1 year in the business
  • No age bar for partnership firms, Pvt. Ltd. and Ltd. companies

Documents Required

Disclaimer: MMFSL reserves the right to approve/disapprove the loan after the submission of documents.

*ID and address proof will be as per the KYC norms of RBI and as circulated time-to-time

Used Car Loan - Top Up & Financing

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Top Up Loan

For used cars

Our Top-Up Loan is designed to cater to the immediate financial need of the existing used car loan customer of Mahindra Finance. Our Top-Up loan offers a very competitive rate of interest and is tailor-made to suit your monthly obligation. Our executives are well trained to assist you to get a Top-Up Loan quickly and easily with minimal documentation.

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Refinance Loan

For used cars

Avail finance against your existing car with Mahindra Finance and you’ll enjoy a competitive rate of interest on your car payment, making it easier for you to pay off your loan quickly and save money each month. We offer loan against your existing car for the tenure up to 5 years and vehicle age as high as 10 years. We also ensure that the experience of obtaining the loan against the existing car is a quick and smooth one with maximum flexibility and speedy loan disbursements. Our executives will help you take quick and smart decision with speedy and simple documentation process.

Used Car Loan FAQs

Contact or visit your nearest Mahindra Finance branch. You can even apply online and we’ll get in touch with you shortly.
Eligibility for a pre-owned car loan from Mahindra Finance depends on the individual appraisal and the product, and all loans are given at the sole discretion of the company.
It depends on the age and condition of the vehicle and repayment capability of an individual.
Minimum 1 year and maximum 5 years, depending on the age and condition of the vehicle.
Our extensive network of branches at over 1200+ locations have speedy and simple documentation processes and with the capability of our executives to take quick, smart decisions, the process of obtaining a used car loan is a quick and smooth one.

Used Car Loan - Calculate your EMI

  • Diverse loan offerings
  • Less documenation
  • Quick processing
Loan Amount
Tenure In Months
Rate of Interest %
Principal: 75 %
Interest Payable: 25 %

For illustration purpose only

Total Amount Payable

50,000

loan process
1 <p>Apply</p>

Apply

2 <p>Select your <br /> product</p>

Select your
product

3 <p>Get <br /> approved</p>

Get
approved

4 <p>Get your loan <br /> sanctioned &amp; <br /> disbursed</p>

Get your loan
sanctioned &
disbursed

Simple loan

application

process

Apply now

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Pre-owned Car Loan Customer Speak

Get in Touch

Mahindra & Mahindra Financial Services Limited
4th Floor, Mahindra Towers,
Dr. G.M. Bhosale Marg,
P.K. Kurne Chowk, Worli,
Mumbai 400 018.

Click here to locate the nearest Mahindra Finance

Calculate Your EMI

  • Diverse loan offerings
  • Less documenation
  • Quick processing
Loan Amount
Tenure In Months
Rate of Interest %
Principal: 75 %
Interest Payable: 25 %

For illustration purpose only

Total Amount Payable

50000

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