About TATA Capital Used Car Loans

TATA Capital offers car financing with repayment options. It offers car loans for both new and pre owned cars. It offers customized EMI plans to repay the loan amount as per your requirements. The company offers second hand car loans with different schemes like structured schemes, balloon & Bullet schemes, step up schemes, and EMI. At TATA Capital, you can choose a customized car loan and select a wide range of cars. It is associated with 200 car dealers in India.

TATA Capital Used Car Loan Interest Rate

Particular Charges
Interest Rate starting at 12.5%
Tenure Range 1 to 5 years
Processing Fee 1.25% of the loan amount
Foreclosure Charges 5% of the principal outstanding at the time of foreclosure and GST additional

Documents for TATA Capital Used Car Loan

For Salaried Individuals

  • Photo Identity Proof: Voter ID copy/ Driving License/ Passport/ PAN Card/ Aadhar Card

  • Income Proof: last 3 months account statement, last 3 months salary slips

  • Address Proof: Ration Card copy/ Passport/ Electricity Bill

  • A copy of vehicle registration certificate

  • A copy of telephone or mobile bill is required

For Salaried Individuals

  • Photo Identity Proof: Voter ID copy/ Driving License/ Passport/ PAN Card/ Aadhar Card

  • Income Proof: last 3 months account statement, last 3 months salary slips

  • Address Proof: Ration Card copy/ Passport/ Electricity Bill

  • A copy of vehicle registration certificate

  • A copy of telephone or mobile bill is required

For Self Employed (Partnership)

  • Photo Identity Proof: Voter ID copy/ Driving License/ Passport/ PAN Card/ Aadhar Card

  • Income Proof: last 3 months account statement and ABB (Accelerated Book Build) should be 0.5 times of EMI and ABS (Audited Balance Sheet) and Profit and loss statement.

  • Business Proof: Company registered partnership deed copy, incorporation of private or public limited companies memorandum certificates, Association articles along with the commencement and business certificate copy.

  • A copy of telephone or mobile bill is required.

For Self Employed (Others)

  • Photo Identity Proof: Voter ID copy/ Driving License/ Passport/ PAN Card/ Aadhar Card

  • Address Proof: Utility Bill copy/ Voter ID/ Property Registration Documents/ Bank Statement/ Property Tax Receipt

  • Income Proof: Income Tax returns copy, profit and loss statements, audited balance sheet, last 3 months bank statement.

  • Ownership Certificate: Registered partnership deed copy, Incorporation of public and private companies memorandum copy and articles of association.

  • A copy of telephone or mobile bill is required.

TATA Capital Used Car Loan Eligibility

For Salaried Individuals

  • Employee in government and private or public sector organization

  • Age should be 21 to 60 years

  • Should have 2 years work experience with employed minimum 6 months in current organization

  • Salary should be Rs. 3 lakhs per annum

  • Telephone or mobile connection

For Self Employed

  • Should be proprietor

  • Age should be 21 to 65 years

  • He/She running the business for 3 years

  • Income should be Rs. 2 lakhs per annum

  • Should have 3 months bank statement and ABB should be 0.5 times EMI

  • Telephone or mobile connection

For Self Employed (Partnership)

  • The Firm or Individual parrtner must earn Rs. 2 lakhs per annum

  • Last 3 months bank statements and ABB should be 0.5 times of EMI

  • Telephone or mobile connection

For Self Employed (Others)

  • The professionals should earn Rs. 2 lakhs per year

  • Landline connection

  • Last 3 months bank statements and ABB should be 0.5 times of EMI

TATA Capital Used Car Loan EMI options

Fixed EMI

  • The interest rate and priciple component charges are fixed during the entire used car loan Hyderabad tenure.

  • EMI amount is not changed for the entire used car loan period.

  • If you have a consistent income, this is the best option.

Structured EMI

  • Choose a repayment method that suits you better

  • Customized EMI methods are available for paying the used car loan

  • If your income is increses at regular interval, this is the best plan.

Additional Fees and Charges of TATA Capital Pre Owned Car Loan

  • LTV: TATA Capital offers pre owned car loan amount up to 95% of the used car value. On selection of a car, we finance 100% of used car value.

  • Processing Fee: Refinancing processing fee is 1.25% of the used car loan amount or Rs. 5000 per car.

  • Ourchase processing fee is 1.75% of a pre owned car loan amount or Rs. 6000 per car.

Things to Consider Before Buying a Pre Owned Car

If you are planning to buy a pre owned car, you have gotten many questions in your mind. Buying a used car can be depends up on budget, maintenance cost and it's performance.

Many car dealers and trusted manufacturers are offering the used cars at affordable prices. You should consider the below important factors before going to buy a second hand car.

  • Condition of the car

  • Mileage of the car

  • Original cost vs price tag

  • Service schedule of the car

How to Get a Second Hand Car Loan

TATA Capital is the best platform to buy second hand cars with flexible EMI options. You can search the best car dealers in TATA Capital's official site. For pre owned car, TATA Capital offers loan up to 90% of a used car value. Follow these simple steps to get the loan on second hand car:

1. You can check your eligibility online while you are at dealership.

2. Application form along with the post approval documents need to be submitted.

3. Money automatically transferred to the dealer and get your dream car to your home.

Features and Advantages of TATA Capital Used Car Loan

  • Minimum paper work

  • Flexible repayment

  • Attractive Interest Rates

  • High loan amount

  • Less Documentation

  • Instant loan approval

Benefits of Applying a Second Hand Car Loan

  • Car financing with easy repayment options.

  • Car loans staring at Rs. 1 Lakh.

  • You may feel safe at all times to apply the loans easily in online. And also look up for best deals on second hand car loans.

  • TATA capital car loan India help you meet your financial needs at attractive interest rates.

  • Loan TATA Capital offers new and second hand car loans at atractive rates of interest.

TATA Capital Customer Care Details

  • The toll free number of TATA capital is 1800 209 6060, call between 9 A.M to 8 P.M. from Monday to Saturday. Sunday is a holiday.

  • Email ID for existing customers: [email protected], [email protected]

  • SMS 'Auto' to 561 61 561

FAQs on TATA Capital Second Hand Car Loans

1. Can I avail of a pre owned car loan on my existing car?

Yes, you can avail a pre owned car loan on your existing car up to 120% of your existing car value.

2. How to I approach TATA Capital for pre owned car loan?

Write to [email protected] or SMS 'Auto' to 561 61 561.

3. Can I get a car loan of TATA capital in my city?

Yes, Apply for a TATA Capital car loan in any cities in India such as Pune, Mumbai, Kolkata, Chennai, Bangalore, Hyderabad, New Delhi, Noida, Vizag.

4. Can the EMI on my pre owned car loan be changed or reduced?

No, the EMI will be fixed at the time of a loan, We offers flexible solutions to meet your requirements.

5. What is the minimum and maximum loan amount offered by TATA Capital?

The minimum used car loan amount is RS. 1 lakh and maximum loan amount is Rs. 50 lakhs depends on your eligibility.

6. How long does it take to process the second hand car loan?

It generally takes 24 to 36 hours while you have submitted all the documents to the bank.

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