Are used car loans available for electric or hybrid vehicles?

Yes, if you are thinking of buying a used electric or hybrid car then there are now a variety of financing options in India. Eco-friendly modes of transport are continuing to gain popularity in India.
The eligibility and documentation requirements for used electric and hybrid loans are generally the same as loan products for petrol and diesel vehicles. Lenders will request KYC docs, proof of income, bank statements and details of the vehicle. The lender may want some additional information specific to electric and hybrid vehicles, such as battery condition, age of the vehicle and resale value. Up to date service history, and a current battery warranty can add more value to your application and increase your chances of being accepted. 

Interest rates and loan-to-value ratio (LTV) for used electric and hybrid vehicles will depend on the make, model, credit rating and market conditions. Many lenders will already have specific schemes pertaining to electric and hybrid vehicles, and these may include lower interest rates, longer loan periods, lower processing fees etc., to promote new green technologies. It is recommended to ask your lender about their specific product and compare what other lenders are offering.
It is worth noting that the used electric or hybrid car market is growing in acceptance and demand. It is becoming easier and cheaper to own an eco-friendly vehicle whether you have just purchased a new or used one.