How much financing for a Used Car Loan can I avail?

When you want to borrow money in India to finance a used car the amount you are eligible to borrow depends on several practical factors. The starting point always is the car, and what it is worth today, typically getting the vehicle value by way of a professional valuer. Lenders assess the value of the car and assess how much to lend you. If the car is valued at ₹5 lakh you may be able to borrow up to 5 lakhs but most banks and finance companies will typically offer loans at a range somewhere between 70–90% of loan to value (LTV).

Note: 100% financing on car loans is not usual and often available only for new cars or during special promotional offers by lenders.

Financing a used car loan relies mainly on the car's true value, the applicant's financial health, and the lender's basic requirements. Always ensure that you check this directly with lenders to establish how much you are allowed to borrow as lenders' lending policies can change depending on the market and lenders' internal criteria.