Pre-Approved in Minutes, Driving Away in Hours:
Streamline Your Car Loan

With our loan option, you can focus on finding the perfect used car instead of worrying about loan approval delays

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used car loan

Features and Benefits

Secure financing for your second hand car with flexible repayment terms and competitive interest rates, making car ownership a reality

Flexible Loan Terms

Flexible Loan Terms

Tailor the loan to your financial comfort, whether you prefer a shorter payoff or a more extended term

Quick Approval Process

Quick Approval Process

Spend less time waiting and more time driving your desired used car

Easy Application Process

Easy Application Process

Less stress and effort in securing your used car loan

Improve Credit Score

Improve Credit Score

Responsible repayment can positively impact your credit score, opening doors to better financial opportunities

Hassle-Free Vehicle Inspection

Hassle-Free Vehicle Inspection

Ensure your chosen used car meets necessary standards without excessive complications

Pre-Owned Car Value Retention

Pre-Owned Car Value Retention

Used cars often depreciate less quickly than new ones, ensuring better value retention

EMI CALCULATOR










Loan Amount:
Interest:
Your monthly EMI is

a quick and transparent process

We have a simple online
application

Check Eligibility

Check Eligibility

Check eligibility criteria before applying for a loan to ensure approval possibilities.

Calculate Your EMI

Calculate Your EMI

Estimate your monthly EMI effortlessly with our user-friendly loan calculator.

Check Required Documents

Check Required Documents

Ensure which necessary documents are required for loan application.

Fill Application Form

Fill Application Form

Accurately provide all required information in the loan application form for prompt processing.

Eligibility and Documents

Essential documents that need to be provided to complete the process successfully are listed below:

Identification & Address Proof

Any government-issued identification document such as Aadhaar card, PAN card, passport, voter ID card, or driving license

Passport-Size Photos

Recent photographs of the loan applicant

Income Proof

To assess the applicant’s repayment capacity, income proof is required. It can include salary slips, bank statements, income tax returns (ITR), or a letter from the employer

Employment Proof

If the applicant is salaried, they may need to provide an employment certificate from their employer. If self-employed, relevant business documents like business registration, GST certificate, etc, may be required

Bank Statements

The last 3 to 6 months of bank statements are required to evaluate the applicant’s financial stability

frequently asked questions

Questions From Customers

faq-image
Individuals who are min. Of 21 yrs of age at the time of applying for the loan and no older than 65 at the end of the loan tenure.
For Salaried- who earn min. 300000 per year including the income of co- applicant.
For selfemployed- should earn 300000 per annum with min. 2 yrs of business continuity.
FOR SALARIED
  • KYC ( Aadhar card, Pan Card, Voter I-card, valid Passport)
  • Valid Driving License
  • Latest salary and Form 16 as income proof
  • Last 6 months bank statement
FOR SELFEMPOYED
  • KYC ( Aadhar card, Pan Card, Voter I-card, valid Passport)
  • Valid Driving License
  • Latest ITR as income proof
  • Last 6 months bank statement
50-60% of the on road value of the car.
18%- 22% depending upon the model and downpayment.
  • Lender will check your income, individuals with steady income and stable occupation may be provided a low rate of interest
  • Loan term
  • Down payment
  • Car age
Yes, you can get a car loan for purchasing a car from an individual seller.
Upto 5 years
Yes you can prepay your car loan . Less than 6 months of maturity 4% reducing of the outstanding principle amount and if more than 6 months 3% reducing of the outstanding principle amount
Yes, Downpayment for car loan is required . Min. 30% downpayment is required according to the car value.
We charge processing fee upto 5 lac its 1% and exceeding 5 lac its 2%
After verification it takes 1- 5 days to approve your car loan.
Written notice of default for not meeting the loan repayment obligations. If the notice is not honored your car will get repossess. A repossessed car will be sold off through auction by the lender to compensate for your outstanding loan balance.
Yes, you can transfer your car loan to another person you can accept the lump sum amount from the new buyer and use the same to pay off the remaining loan amount.
Insaurance and registration cost are not covered by the car loan.
If the car you want to purchase is more expensive than the loan amount approved applicant have to pay the remaining amount by himself.
No, you can not avail a car loan if the car is more than a certain age.
Yes , lenders do not fund for cars over 1,00000 kilometres.
Yes, you can use a used car loan to refinance your existing car loan
Salaried employees can claim tax benefits on a car loan. However self employed individuals or business owners can avail tax benefits on the interest payment of the car loan if the vehicle is purchased for business purposes.
No, you can not negotiate the terms of used car loan.
Untill you clear the outstanding loan amount, you can not sell the car.

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Our goal at PHF Leasing Limited is to provide access to vehicle loans, home loan, and loan against property at insight competitive interest rates. We are here to help you in fulfilling your dreams.

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