Learn about the features, eligibility criteria, and documents required for the Tata Capital Used Car Loan. Use the EMI calculator to quickly estimate your repayments.
The Tata Capital Used Car Loan makes owning a second-hand car easy and affordable. It offers loan coverage of up to 95% of the car’s value, minimal documentation, and flexible EMIs, providing a convenient way to finance hatchbacks, SUVs, or premium sedans.
You can get a loan amount ranging from ₹1 Lakh to ₹50 Lakhs with tenures between 12 and 72 months. Interest rates start at 10.75% p.a., ensuring transparent costs with no hidden charges. With quick fund disbursal, Tata Capital provides a reliable and efficient solution for financing your used car.
Tata Capital Used Car Loan interest rates are competitive and transparent. This makes it easier to finance your pre-owned vehicle with flexible repayment options.
| Fees and Charges |
Details |
|---|---|
| Starting Interest Rate |
10.75% p.a. |
| Processing Fees |
Up to 2.95% of the loan amount |
| Penal Charges (for delayed payments) |
3% per month on the overdue amount |
| Penal Charges (for delayed payments) |
3% per month on the overdue amount |
| Dishonour of any cheque/ payment instruments |
₹600 per instrument per instance |
| Documentation Charges |
₹1,999 |
| Foreclosure Charges |
|
| Duplicate NOC Charges |
₹300 |
| NACH/ Post-dated Cheques (PDC) Charges |
₹500 |
| Part- Prepayment Charges |
|
Disclaimer: The details mentioned above are subject to change at the lender’s discretion.
Use the Tata Capital Used Car Loan EMI Calculator to plan the borrowing smartly. By entering your loan amount, tenure, and interest rate, you can calculate your monthly EMI, total interest payable, and repayment schedule. This helps you choose an affordable plan before applying for your loan.
A used car loan from Tata Capital offers flexible eligibility criteria, making it accessible to a wide range of borrowers. You can review the key requirements based on your employment type and the lender’s policies before applying.
Your age needs to be between 21 and 60 years
You need to have a minimum monthly income of ₹25,000
You need to have at least 1 year of work experience
Your age needs to be between 21 and 65 years
Your business should be operating for at least 2 years
Your minimum income needs to be at least ₹3 Lakhs per annum
Either the business or the individual partner needs to have a minimum income of ₹3 Lakhs per annum
Your Average Bank Balance (ABB) should be at least half of the monthly EMI amount
Your minimum income needs to be at least ₹3 Lakhs per annum
Your Average Bank Balance (ABB) needs to be at least 0.5 times the EMIs
Applying for a Tata Capital Used Car Loan is hassle-free with minimal paperwork. You need to provide a few essential documents for loan approval, listed below:
| Document Type |
Salaried Individuals |
Self-employed Individuals |
|---|---|---|
| Photo Identity Proof |
Voter's ID, Passport, Driving License, Aadhaar Card |
Voter's ID, Passport, Driving License, Aadhaar Card |
| Proof of Residence |
A copy of your Voter ID, Passport, Driving License, or Aadhaar Card |
A copy of your Voter ID, Passport, Driving License, or Aadhaar Card |
| Income Proof |
Copy of your Salary account bank statements for the last 3 months, Copy of Salary Slips of the last 3 months |
Copy of Income Tax Returns (ITR), audited Balance Sheet, and Profit and Loss Statements, along with the last 3 months’ Bank Statements |
| Others |
Copy of Vehicle Registration Certificate |
Signature proof (such as PAN card or passport) |
Getting a used car loan from Tata Capital is quick and convenient. You can apply for used car loan in a few simple steps, listed below:
Visit the official Tata Capital website and click on ‘Loans for You’ from the top menu
Select ‘Vehicle Loan’, then ‘Used Car Loan’, and click on the ‘Apply Now’ button
Select the loan type, and enter your mobile number to receive an OTP for verification
Click “Proceed” to continue with the application
If you do not receive the OTP, use the “Resend Now” link or “Get OTP via Call” to receive it by phone
You can continue filling in your details and submit the application after OTP verification to complete the process. Make sure all personal and financial information is accurate to avoid delays. Review the entered data carefully before submission, and keep any reference numbers or confirmation emails for future tracking.
The process usually takes a few minutes, and you may receive a notification once your application is successfully submitted.
Tata Capital provides flexible and affordable loan solutions for pre-owned cars, making ownership simpler and stress-free. Key benefits of second hand car finance include:
High Loan Amount: Borrow up to ₹50 Lakhs, based on eligibility, giving you the freedom to select your preferred car
Flexible Tenure: Repay over a period of up to 72 months, with EMIs designed to suit your budget
Competitive Interest Rates: Enjoy attractive rates starting at 10.75% per annum, reducing your overall borrowing cost
Minimal Documentation: Complete a simple, paper-light online application for faster processing
Quick Disbursal: Receive funds within 24–36 hours of approval, enabling a timely car purchase
Multiple Repayment Options: Pay via cheques, online transfers, or flexible EMI plans
Flexi EMI Plans: Opt for standard or step-up EMIs to align repayments with your cash flow
The interest rate for Tata Capital Used Car Loans starts at 10.75% p.a., depending on eligibility and other factors.
Tata Capital offers used car loans starting from ₹1 Lakh, with a maximum loan amount of up to ₹50 Lakhs.
The maximum tenure for a Tata Capital Used Car Loan is 72 months (6 years), allowing flexible repayment options.
You can calculate your EMI for the Tata Capital Used Car Loan using the online EMI calculator on Tata Capital’s website. Simply enter the loan amount, tenure, and interest rate, and get the results instantly.
Tata Capital finances up to 95% of the car’s value. While a down payment is not always mandatory, making one reduces your EMI burden and interest outgo.
Yes, you can prepay or foreclose your loan, but applicable charges will apply:
Part-prepayment
6% of the prepaid amount if done within 12 months
5% of the prepaid amount after 12 months
Foreclosure
6% of the outstanding principal if done within 12 months
5% of the outstanding principal after 12 months
Tata Capital typically disburses used car loans within 24–36 hours post-approval.
No, income proof is mandatory to apply for a Tata Capital Used Car Loan. Lenders require this to assess your repayment capacity.