Used Cars

Used Car Loans – FAQ

What cars can I buy with TVS Credit Services used-car loans?

We finance all Indian passenger cars. Leading auto manufacturers like Maruti Udyog, Tata Motors, Hyundai Motors, Ford India, Skoda, General Motors, Honda India, Fiat India, Toyota India among others are covered. Some discontinued models may not be eligible for finance

How much finance can I avail on a used car?

You can borrow up to 85% of valuation amount. Salaried Professional can borrow up to 15 times their monthly gross salary. Self-employed Professional can borrow up to 4 times their annual gross declared income.

Is refinance possible? What is the maximum amount I can borrow with a used car loan?

Yes, you can encash the value of your car to meet immediate personal and business needs. Even while you continue to use the car, the liquidity can be used to tide over your funding. The quantum depends on the eligibility based on our credit policy criteria.

What cars can I buy with TVS Credit Services used-car loans?

We finance all Indian passenger cars. Leading auto manufacturers like Maruti Udyog, Tata Motors, Hyundai Motors, Ford India, Skoda, General Motors, Honda India, Fiat India, Toyota India among others are covered. Some discontinued models may not be eligible for finance

Do I need a guarantor for used car loans?

No, but if your income does not meet our eligibility criteria, then you can club the income of your father/mother/spouse/son to become eligible for your loan. They would need to come in as a co-applicant for the loan.

What are the tenure options for used car loans?

You can choose from any of the 5 well-placed repayment options of 12,24,36,48 or 60 months, which are designed to suit your requirements

Does this require car verification/valuation?

All financed cars have to undergo car valuation/verification process. For smaller tickets and lesser Loan-to-Value transactions, valuations may be dispensed with based on specific request. Loan will be processed as per our credit policy.