• Phone:

    +91 7860010011

  • Email:

    contact@relookcapital.com

  • Office Address: B-2 , 2/91, Vibhuti Khand.
    Gomti Nagar.Lucknow-226010. UP

  • Registered Address : 204, Prem Vihar . Sector 62. Noida. Pin -201309. UP

Used Car Loan

A Used Car Loan is a type of secured loan designed to help individuals purchase a pre-owned vehicle without having to pay the full amount upfront. It is one of the most convenient financing options, making it easier for customers to own a reliable car at an affordable cost — whether for personal use, family needs, or daily commuting.

One of the key advantages of a used car loan is the simple process and quick approval, often based on the applicant’s income, credit profile, and repayment ability. Since the car itself acts as collateral, it ensures better affordability with attractive interest rates and minimal documentation.

Used car loans also come with flexible repayment tenures, usually ranging from 1 to 7 years, allowing borrowers to select an EMI plan that matches their budget. The loan amount can cover a wide range of car models, making it a practical and budget-friendly solution to own a vehicle and fulfill mobility needs with ease.

0.25% to 2% of Loan Amount

Loan Processing Fees

Nill

Loan Cancellation

As per actual

Legal Fees

Nill to 4% (According to bank /NBFC)

Foreclosure

Features and Benefits of Our Used Car Loan

  1. Seize Opportunity:
    1. Own a quality pre-owned car without waiting to save up the full amount. Relook Used Car Loan covers up to 100% of the market valuation of the car.
  2. Budget-Friendly:
    1. Repay the borrowed amount in affordable EMIs or choose OD facilities, making it easier to manage within your monthly budget.
  3. Flexible Options:
    1. Finance available for a wide range of used car models, allowing you to select a vehicle that fits your lifestyle and preference.
  4. Immediate Ownership:
    1. Drive home your desired used car immediately without the need to wait for years of savings.
  5. Great Value:
    1. Get financing for reliable pre-owned cars that provide excellent features, comfort, and value at a reduced cost compared to new vehicles.
  6. Build Credit:
    1. Regular and timely repayment of your Relook Used Car Loan helps you improve and strengthen your credit history.

Eligibility Criteria for Used Car Loan

At Relook Leasing & Finance Pvt. Ltd., we provide simple and flexible Used Car Loan solutions to make owning a pre-owned car easier and more affordable. Please review the eligibility criteria below:

Age:

Salaried applicants: 21 to 60 years | Self-employed: 25 to 65 years at the end of tenure.

Income:

Minimum annual income of ₹2,50,000 (individual or combined with spouse/co-applicant).

Employment Stability:

Salaried: Minimum 2 years of work experience with at least 1 year in current job.
Self-employed: Minimum 3 years in business with stable income records.

Credit Score:

A minimum score of 680+ is recommended. Higher scores improve approval chances and loan terms.

Down Payment & Loan Amount:

Loan amount is based on income and repayment capacity. Down payment may be required depending on car’s valuation.

Vehicle Age:

The car should not be more than 15 years old at the end of the loan tenure.

Check Eligibility Now

Documents Required for Used Car Loan

To process your Used Car Loan application at Relook Leasing & Finance Pvt. Ltd., please ensure the following documents are submitted:

  • Proof of Identity
    • Aadhaar Card / PAN Card / Passport / Voter ID / Driving License
  • Proof of Residence / Address
    • Passport / Voter ID / Driving License / PAN Card / Aadhaar Card
    • Utility Bills (Electricity / Telephone) or Ration Card
  • Income Proof
    • Last 2 years’ ITR (for salaried and self-employed)
    • Latest 3 months’ Salary Slips (salaried applicants)
    • Latest 6 months’ Bank Statements
  • Employment / Business Proof
    • Employment Certificate / Office Address Proof
    • For Self-Employed: GST or VAT Registration, Business Registration (Partnership Deed / MOA / AOA etc.)
  • Vehicle-Related Documents
    • Registration Certificate (RC) of the Car
    • Car Insurance Papers
  • Other Documents
    • PAN Card
    • Signature Verification Proof
    • Recent Passport-size Photographs

Frequently Asked Questions – Used Car Loan

Relook offers up to 100% of the used car’s market valuation depending on your income, repayment capacity, and car condition.

A credit score of 680 or above is generally preferred. A higher score increases your chances of approval and helps secure lower interest rates.

Most lenders, including Relook, finance cars that are not older than 15 years at the end of the loan tenure.

Yes, in most cases a small down payment may be required depending on the car’s value and your eligibility. Relook provides flexible funding options to minimize upfront cost.

Key documents include KYC (ID & Address proof), PAN card, income proof (salary slips/ITR), bank statements, and vehicle documents like RC and insurance. Self-employed applicants may need GST/business registration proof.

Relook offers flexible repayment tenures ranging from 1 to 7 years, depending on the loan amount and your repayment ability.

Yes, you can still apply for a used car loan. Relook will evaluate your repayment capacity and debt-to-income ratio before approval.

EMI Calculator

Monthly EMI:
₹0
Principal Amount:
₹0
Interest Payable:
₹0
Total Payable:
₹0
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Check CIBIL Score EMI Calculator