Buy a second hand car on EMI with an instant personal loan from Navi
What is a Used Car Loan?
Purchasing a brand new car can be a costly affair for many. So, to reduce the financial burden, many consumers opt for pre-owned used cars or second hand car loans. Generally speaking, you can get up to 80% financing of the total value of the car with flexible repayment options. You have to pay the rest of the amount out of your pocket. This is where a personal loan for a used car can help you.
Navi offers instant personal loans that you can utilise to purchase a pre-owned car. The benefits are many – instant disbursal, zero paperwork, no collateral required, etc. So, whether you’re looking for additional funds for down payment or to purchase a new car, get a personal loan from Navi. Just download the Navi app and apply today!
Features and Benefits of a Used Car Loan
Features and Benefits of a Used Car Loan
How to Apply for a Used Car Loan with Navi?
How to Apply for a Used Car Loan with Navi?
Eligibility Criteria and Documents Required
Indian Resident 18-65 years of age
PAN Card Holder
Salaried or Self-Employed
Aadhaar Card Holder
Second Hand Car Loan Interest Rates in India
| Interest Rate | 9.90% p.a. onwards |
| Processing Fee | Nil* |
| Loan Amount | Up to ₹20 lakh |
| Loan Prepayment Fee | Nil |
| Loan Tenure | Up to 72 months |
How to Calculate EMI on Personal Loan for Used Car?
The EMI of a used car/personal loan depends on three factors – loan amount, tenure and interest rate. The mathematical formula to calculate EMI is:
EMI = P × r × (1 + r)n/((1 + r)n – 1) where P= Loan amount, r= interest rate, n=tenure in number of months.
However, calculating EMI manually can be tedious and time consuming. As an alternative, you can use our used car loan EMI calculator to instantly check your monthly repayment obligations. All you need to do is select the loan amount, tenure and interest rate, and you shall be able to view the EMI amount.
Used Car Loan Calculator
Loan Amount
Rate of Interest (P.a)
%
Loan Tenure (Months)
months
Monthly EMI
0
Total Interest
Total Amount
Why Choose a Navi Personal Loan for Your Second Hand Car?
Convenience
No heavy paperwork. Minimal documents. Instant disbursal. Applying for a personal loan for pre-owned car purchase is a breeze when you have Navi by your side. Download the Navi app and apply for a personal loan from anywhere, anytime and on the go.
Customer-first experience
The Navi app is designed to provide superior customer experience. Housing a user-friendly and easy-to-navigate interface, applying for a loan has never been easier. The entire loan journey - from application to disbursal - just takes a few minutes of your time.
Competitive pricing
Enjoy attractive interest rates and zero foreclosure fees with Navi Personal Loan. This positions Navi Personal Loan as one of the most affordable loan products in the market.
Various Use Cases of Personal Loan
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