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What is a Used Car Loan?

Buying a second-hand car has multiple benefits. It is not only easy on the pocket but has a slower depreciation rate and offers tension-free drive 24x7. But what if your desired pre-owned car does not fit your budget? This is where used car loan financing comes in.

In case of a Personal Loan, where the amount is approved and advanced without collateral, your CIBIL score becomes a critical eligibility criterion. Typically, a CIBIL score above the 700 mark is considered good and attracts easy approval.

If you don't know your Credit Bureau Score and are wondering, you can visit the below link for a free bureau report. We got you covered!

Link: https://www.tatacapital.com/check-credit-score.html 

It is a very convenient way to finance the purchase of a second-hand car. Availing of finance for used cars helps you pay for your favourite car without straining your finances.

It is a smart and economical way to fund your purchase. With Tata Capital’s used car finance, you can finance anything from hatchbacks and SUVs to premium sedans. You can avail up to 95% of the car’s value with Tata Capital. Apply today to benefit from flexible EMI repayment options and quick disbursal.

Don’t let a lack of funds prevent you from getting your dream car. Secure financing up to ₹50 lakhs with Tata Capital, offering minimal documentation and affordable interest rates. Your ideal car is just a click away.

Used Car Finance by Tata Capital

Looking for the best way to finance your second-hand car? Whether you're eyeing a hatchback, an SUV, or a premium sedan, a loan makes for the best financing option. With a used car loan, you can bring home your desired ride without dipping into your savings.

We offer loans for a wide range of second-hand cars, so you don't have to compromise on your dream vehicle. You can avail of a loan for up to 95% of your car value. What's more? You get to enjoy flexible EMI repayment options and quick disbursal of funds which makes Tata Capital the best choice for taking car loans for used cars.

Disclaimer:  Used Car Loans are at the sole discretion of Tata Capital Limited (TCL).Terms and conditions apply

  • Loan Amount

    ₹1,00,000 - ₹50,00,000

  • Loan Tenure

    12 - 72 months

  • Interest rate starting at

    10.99% onwards

    View Rates & Charges

Advantages of taking a Used Car Loan

Availing of second-hand car finance allows you to pay for your desired car conveniently without dipping into your savings. Here's how-

Flexible Tenure:

Avail of a car loan for a second-hand car for up to 72 months and repay at your own pace.

Quick Processing and minimal paperwork

With Tata Capital, you can get access to second-hand car finance in no time. All you need to do is fill out a simple online application form and leave the rest to us. With our quick second-hand car loan application process, you will receive the loan amount in your bank account within 24 to 36 hours of document submission.

Flexi EMI Options:

We strive to provide you with maximum convenience. This is why we extend car loans for used cars at flexible EMI options

Competitive interest rates:

Our pre-owned four-wheeler loan is easy on your pocket. With Tata Capital, you get second-hand vehicle finance at the best interest rates in the market. Enjoy interest rates as low as 10.99% onwards, the best in the market.

Flexibility

Choose a loan tenure and repayment plan for your car loan based on your budget.

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Features of Our Used Car Loan

At Tata Capital, we offer a comprehensive used car loan designed to make your dream of owning a car a reality. Our loan features include:

  • High Loan Amount – You can secure financing of up to Rs. 50 lakhs, which provides you with greater financial flexibility to choose a pre-owned car that best suits your needs and preferences.
  • Flexible Repayment Terms - Enjoy an extended repayment period of up to 72 months, allowing you to manage monthly payments comfortably without financial strain.
  • Competitive Interest Rates - Benefit from attractive interest rates starting at just 10.99%, making your loan affordable and easy to repay over the chosen term.
  • Easy Online Application - Apply conveniently for a used car loan with Tata Capital from the comfort of your home. Our fully digital application process is tailored for your convenience, saving you time and effort.
  • Multiple Payment Options - We offer a variety of payment methods, including online payments and cheques, so you can choose the option that best suits you.
     

Choose Tata Capital's used car loan for a simple, transparent, and efficient financing solution tailored to meet your needs. Drive home your dream car with ease and confidence.

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Application Process for Pre-Owned Car Loan

1

Online Application

Apply from the comfort of your house. Fill out and submit the application form online.

2

Explore dealership

Walk into a used car dealership associated with Tata Capital.

3

Document Submission

Tata Capital’s representative at the dealership will help you submit the required second-hand vehicle finance documents.

4

Scrutiny and Verification

After you submit the loan application and documents, we will verify the information.

5

Approval

Once we successfully verify your documents, we will approve and sanction your request.

6

Drive Away

Receive your second-hand car finance amount directly in your bank account and take home your desired second-hand car.

Available payment options

Available Payment options

    Pay Online

    You can visit our website or use your mobile phone to pay your EMIs online anytime and anywhere.

    Drop a Cheque

    You can also make EMI payments for your car loan with a cheque. All you need to do is visit the nearest Tata Capital branch, write a cheque, and drop it off at your convenience.

6 Reasons to Choose Us for Taking a Second-hand Car Loan

  • Minimum paperwork

    With Tata Capital, you don't need to go through lengthy paperwork to get used car finance. Moreover, you can apply online for greater convenience.

  • Flexible Repayment

    Our flexible loan allows you to select a repayment plan at your convenience. You can choose from a range of options like ECS, post-dated cheques, and online payment to repay your loan.

  • Competitive interest rates

    We only want to deliver the best experience to our customers. This is why our interest rates are the best in the industry. Avail of the best interest rates in the market.

  • High loan amount

    With Tata Capital, you can avail of second-hand car finance as high as Rs. 50 lakhs.Avail of a car loan for used cars as high as Rs. 50 lakhs. Buy your desired second-hand car on EMI with Tata Capital.

  • Minimum documents

    We ask for minimal documents while processing your used car finance request. Only share important information. We ask for minimal documents while processing your pre-owned car finance request.

  • Instant online approval

    After we successfully verify your information, you will receive instant approval for your used car finance request through our secure platform. After we receive and verify your documents, you will get instant approval through our secure platform.

  • Repayment

    Enjoy flexible repayment options for your loan. Choose from different options like ECS, post-dated cheques, and online payment.

  • Competitive interest rates

    Avail of the best interest rates in the market.

When Can You Take a Used Car Loan?

You can apply for a car loan for used cars for the following conditions-

Personal use

Using public transportation is not always feasible. Owning a car has become a necessity to commute comfortably from one point to the other without depending on someone else. You can avail of a used car loan to buy a car for personal use. This can include commuting for daily chores or emergencies like getting a loved one to the hospital on time.

Business use

If you frequently find yourself on the move to meet clients or make deliveries, buying a second-hand car will make the commute more convenient. A used car loan financing will help you make this purchase easily.

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How to Get a second-hand car loan?

Looking to get a second-hand car on EMI? Apply instantly with these 4 simple steps-

Simple application form

Apply for used car financing by filling out a simple application form online or offline.

Minimal Documentation

Submit or upload the right documents for your used car loan online approval.

Verification

We will verify your application and eligibility for the loan.

Loan Sanctioning and Disbursal

After successful verification, we will sanction your loan and disburse the amount directly to your bank account within 24 to 36 hours from document submission.

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Eligibility criteria for used car loan

The pre-owned car loan eligibility will depend on whether you’re a salaried individual or a self-employed individual. You can check eligibility for a used car loan here-

 

Salaried Individuals must meet the following used car loan eligibility criteria–

  • You must be between 21 and 60 years of age.

  • Your minimum monthly salary must be Rs. 20,000.

  • You must have a minimum of one year of work experience.

The pre-owned car loan eligibility will depend on whether you’re a salaried individual or a self-employed individual. You can check eligibility for a used car loan here-

 

Self-employed individuals must meet the following used car loan eligibility criteria –

  • You must be between 21 and 65 years of age.

  • The business must have been operating for at least past two years to atleast past 2 years.

  • You must have a minimum income of Rs. 2 lakhs per annum.

The pre-owned car loan eligibility will depend on whether you’re a salaried individual or a self-employed individual. You can check eligibility for a used car loan here-

 

Self-employed individuals in a partnership must meet the following criteria-

  • Either the Firm or the Individual partner must have an income of ₹2,00,000 per annum

  • You must have the last 3 months' bank statements

  • ABB should be 0.5 times the EMI

The pre-owned car loan eligibility will depend on whether you’re a salaried individual or a self-employed individual. You can check eligibility for a used car loan here-

 

For self-employed (others), here is the list to check eligibility for a used car loan before applying.

  • Your income must be ₹2 lakhs per annum

  • You must have the last 3 months' bank statements

  • ABB should be 0.5 times EMI

Documents required for used car finance

The documents required for a second-hand car loan vary depending on your employment type.

  • Photo Identity Proof : Copy of Voter’s ID/Driving License/Aadhaar Card/PAN Card/Passport

  • Income Proof : Copy of your Salary account bank statements for the last three months

  • Copy of Salary Slips of the last three months

  • Proof of Residence : Copy of Ration Card/Passport/Electricity Bill

  • Copy of Vehicle Registration Certificate

The documents required for a second-hand car loan vary depending on your employment type. 

 

  • Photo Identity Proof : Aadhaar Card/Driving License/PAN Card/Passport/Voter’s ID

  • Copy of your signature with signature proof

  • Address Proof : Copy of Utility Bill/Bank Statements/Property - Registration documents/Property Tax Receipt/Voter’s ID

  • Income Proof : Copy of Income Tax Returns (ITR), audited Balance Sheet, and Profit and Loss Statements along with last three months’ Bank Statements

Used car loan interest rates

In case of a Personal Loan, where the amount is approved and advanced without collateral, your CIBIL score becomes a critical eligibility criterion. Typically, a CIBIL score above the 700 mark is considered good and attracts easy approval.

If you don't know your Credit Bureau Score and are wondering, you can visit the below link for a free bureau report. We got you covered!

Link: https://www.tatacapital.com/check-credit-score.html 

At Tata Capital, we understand that the requirement of each customer is unique. This is why our experts ensure you get a transparent and suitable deal at low-interest rates. We offer the most competitive interest rates in the industry, starting at just 10.99%.

What are the EMI Options Available?

When you purchase a second-hand car on EMI with Tata Capital, you get the option of two EMI plans- 

Standard EMI

This EMI plan offers a fixed loan principal and interest rate throughout the loan tenure. As a result, the EMI will also remain the same. You can choose this option if you have a consistent monthly income that will not change in the near future.

Structured EMI

This EMI plan allows you to customize your second-hand car loan EMI. With this option, you will pay lower EMIs during the initial months of the loan tenure and gradually increase them over time. This repayment method is ideal if you expect a rise in income in the near future.

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How to apply?

With Tata Capital, you can avail of an old car loan either online or offline.

  • Visit your nearest Tata Capital branch.

  • Fill out the application form and submit the required documents.

  • A representative will call you to go over your application and documents.

  • It will take a few business days to process your old car finance application.

    •  

    Make sure you check eligibility for a used car loan before applying.

With Tata Capital, you can avail of an old car loan either online or offline.

  • Apply for an old car loan by filling out an online form.

  • Visit any used car dealership associated with Tata Capital.

  • Provide the required documents for verification.

  • Once our representatives verify all details, we will approve your request.

  • After approval, we will sanction the old car finance directly to your bank account.

    •  

    Make sure you check eligibility for a used car loan before applying.

How to make car loan application easy?

Availing of finance for used cars? Here are some tips you can follow for a smooth application process-

Conduct thorough market research

Compare eligibility conditions, interest rates, processing time, fees, and charges of different lenders to find the best deal before applying.

Apply online

Apply for used car loans online to reduce your processing time and to get quick loan approval.

Prepare the documents

Keep all relevant documents for your application ready to avoid any last-minute hassle.

Use an EMI calculator

Use an online EMI calculator to get a rough estimate of your potential EMIs.

Choose the lender carefully

Finally, look for a lender who is credible and transparent before you apply. Tata Capital assures you of only the best deals, making us your best option to secure finance for used cars.

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What are the important things to do when buying a car?

Before you buy a second-hand car on EMI, make sure you follow this checklist-

  • Do a basic hygiene check of the car and the owner

    Carry out a basic hygiene check of the car, its history, and its owner. Finalize the car only if it's in satisfactory condition.

  • Take a test drive

    Take the car for a test drive on narrow streets, U-turns, highways, and rocky roads to check its performance.

  • Have a mechanic inspect the car

    Have a mechanic inspect major systems of the car like transmission, engine, etc. If you find any technical issues, you can ask the owner to fix them before striking a deal.

  • Review the car papers properly

    Make sure all car documents are accurate and updated. This includes the original invoice, Pollution under Control certificate (PUC), RC book, insurance papers, etc.

  • Transfer the RC to your name

    Finally, fill out Form 29 and Form 30 issued by RTO to transfer the RC to your name. Both you and the seller must sign this form. It usually takes 40 to 45 days for the RTO to send the copy of RC in your name.

    • Once you find the car satisfactory, apply for second-hand car finance.

What Factors Affect Your Used Car Loan Eligibility?

Your used car loan eligibility is based on many factors. These include-

Income

The higher your monthly income, the higher will be your eligibility.

Credit Score

A high credit score, preferably 750 or above, will increase your used car loan eligibility and vice-versa.

Outstanding Loan

An unpaid loan may make you ineligible for additional loans, unlike a healthy repayment history.

Work Stability

Having a stable source of income increases your loan eligibility. If you frequently change jobs or have irregular business ROI, lenders may reject your application.

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What is the Interest Rate?

After determining your used car loan eligibility on our app, check for the interest rate that you can afford. The interest rate is the rate at which you have to pay interest on the loan amount over a fixed tenure. Tata Capital offers the best interest rates for second-hand car purchases, starting at just 10.99%.

In case of a Personal Loan, where the amount is approved and advanced without collateral, your CIBIL score becomes a critical eligibility criterion. Typically, a CIBIL score above the 700 mark is considered good and attracts easy approval.

If you don't know your Credit Bureau Score and are wondering, you can visit the below link for a free bureau report. We got you covered!

Link: https://www.tatacapital.com/check-credit-score.html 

How to Calculate EMI using Used Car Loan Calculator?

An EMI calculator helps you calculate your potential EMIs instantly. Just enter the Principal Amount, Rate of Interest, and Loan Tenure in the EMI calculator, and the calculator will automatically calculate the monthly EMI value within seconds.

In case of a Personal Loan, where the amount is approved and advanced without collateral, your CIBIL score becomes a critical eligibility criterion. Typically, a CIBIL score above the 700 mark is considered good and attracts easy approval.

If you don't know your Credit Bureau Score and are wondering, you can visit the below link for a free bureau report. We got you covered!

Link: https://www.tatacapital.com/check-credit-score.html 

How to Improve Your Second-Hand Car Loan Eligibility?

You can improve your second-hand loan eligibility in the following ways –

  • Opt for a higher down payment

    Down payment is the amount of money you must pay for your car upfront. By making a high down payment, you can reduce your loan amount and improve your chances of getting a loan.

  • Maintain a good CIBIL score

    For higher used car loan eligibility, check your credit score. It reflects your credit history and repayment ability. To increase your chances of getting a loan, you must have a credit score of 750 or above. For this, you must repay debts, credit card dues, etc. on time and check your credit record for discrepancies.

  • Choose a suitable loan tenure

    You have higher eligibility if you select shorter loan tenures. However, this means you'll have to pay higher EMIs, but the interest outgo is less. You can adjust the loan tenure using an online EMI calculator

  • Opt for a Willing Co-Applicant

    You can opt for a co-applicant with a good CIBIL score and stable income. The co-applicant must be your spouse, immediate family members, or any blood relative.

What our customers say about us

All are providing good services.

ASHOK NIKASALAL WALMIKI

Used Car Loan | 08 Nov, 2024

Hope so far is good. Representatives are good. Their dealings were very good.

JOBY C J

Used Car Loan | 30 Oct, 2024

Good service and response. Thanks, Tata Capital.

POTLURI SHIVA SHIVASHANKAR

Used Car Loan | 24 Oct, 2024

It was a good experience, so I don’t have any suggestions.

NIDHI YADAV BAGGA

Used Car Loan | 21 Oct, 2024

It was a nice experience with Tata Capital.

RAJ HARENKUMAR JARIWALA

Used Car Loan | 18 Oct, 2024

Fastest loan release.

PRAJEESH P PRASANNAN

Used Car Loan | 17 Oct, 2024

Excellent service provider, better than any other competitor.

DEEPAK SHARMA

Used Car Loan | 05 Sep, 2024

Very nice and satisfying customer care service offered by Tata Capital.

SAGAR JAYENDRAKUMAR DOSHI

Used Car Loan | 04 Sep, 2024

Thanks for helping me. I trust Tata Capital.

Subhashree pattnaik

Used Car Loan | 02 Sep, 2024

Read All

Related Videos

#usedcarloan

Know more about Used Car Loans

Abhi office jaane mein no jhig-jhig. Turn your aspirations into reality and enjoy a hassle-free ride now. Upgrade your daily ride journey with easy used- car loans. Apni khwahish puri karo with Tata Capital used car loans!

1:00

Eligibility and Documents required for Used Car Loan

1:57

FAQs on Used Car Loan

Can I reduce or change my EMI?

No, your EMI will remain the same throughout the 2nd hand car loan. However, you can enjoy flexible solutions with Tata Capital that fit your 2nd hand car finance requirement.

How much time does it take to process a Used Car Loan?

The processing time for a used car loan at Tata Capital is designed to be quick and hassle-free. After you submit all the required documents, the loan disbursal typically takes between 24 to 36 hours. This quick turnaround ensures you can drive home your dream car without unnecessary delays, making the process smooth and efficient.

How can I repay the Used Car Loan?

You can repay your loan through ECS, Direct debit, and post-dated cheques drawn on "Tata Capital Limited".

What are the minimum and maximum loan amounts for a 2nd hand car loan?

With Tata Capita, you can avail of a Loan starting from ₹ 1,00,000/- up to ₹ 50,00,000/- depending on your eligibility.

How does a used car loan work?

  • Apply for Loan: Submit an application to a lender.

  • Approval: Lender evaluates and approves your loan based on your credit and the car’s value.

  • Down Payment: Pay a portion of the car’s cost.

  • Disbursement: Lender pays the seller the remaining amount.

  • EMIs: Make monthly payments over the loan tenure.

  • Ownership Transfer: Update the car’s registration with the RTO.

  • Final Payment: Upon full repayment, receive a no-objection certificate (NOC) from the lender.

What is the maximum tenure available for a used four-wheeler loan?

Loan tenure is the period within which you need to repay your loan, including the interest. Tata Capital's maximum tenure is 72 months or 6 years.  

Who can be the co-applicants of the used four-wheeler loan?

A co-applicant is a person who applies for a loan along with the main borrower. They will be equally responsible for the loan repayment in case of any default by the primary borrower. If you want to improve your loan eligibility, you can have a co-applicant apply along with you.

The following are the acceptable co-applicants for a second-hand car loan –

    • Spouse

    • Family member

    • Blood relatives  

Do you need collateral for a loan to buy second-hand car?

No, you don't need any additional collateral or security for the loan. The car for which you take the loan is itself the collateral that is needed, hypothecated to Tata Capital documentation.  

How do I approach Tata Capital for a second-hand car loan?

You can apply for a used car loan financing with Tata Capital in the following ways –

    • Apply online through our website.

    • Email our customer support team.

    • Call us on our toll-free number – 1860 267 6060.

    • Take the help of our virtual assistant, TIA.

    • Visit a nearby branch and talk to our lending experts.

How does monthly income affect your eligibility for getting a loan?

 To determine your used car loan eligibility, check your current and potential income. You will need to repay your loan in Equal Monthly Instalments or EMIs. Income plays a key role in determining how much money you can spend each month to pay your loan EMI. The higher your income, the higher will be your eligibility and vice-versa. A high income also makes you eligible to borrow a higher loan amount.  

What are the different channels for servicing?

    • Say ‘Hi’ on Tata Capital’s WhatsApp number 75067 56060 from your registered mobile number.
    • Login to Tata Capital’s Mobile App. To download and know about mobile app features, click here.
    • Log into Tata Capital website
    •  Call our Customer Care Number 1860 267 6060
    • Email Us

    For a new loan requirement

    contactus@tatacapital.com

    Tata Capital Limited

    Consumer Loans

    customercare@tatacapital.com

    Corporate Loans

    contactcommercialfinance@tatacapital.com

    Tata Capital Housing Finance Limited

    Home Loans

    customercare.housing@tatacapital.com
    • Visit Tata Capital’s service branches. To know your nearest branch, click here.
    • SMS Servicing - Send an SMS from your registered mobile number to 97059 66060. To know more details, click here.
    • Interact with TIA to know more about Tata Capital's products and services. TIA is also available on Google Assistant & Alexa.

    Know more

What are the different types of Charges that can be levied in a Used Wheeler loan?

    Processing Fee

    • Minimum 1.75% of loan amount or Rs 4000 whichever is higher (Term Loan)2% of Limit sanctioned (Overdraft)
    LTV

    We offer loans for a wide range of second-hand cars, so you don't have to compromise on your dream vehicle. You can avail a loan up to 95% for purchase of used car and upto 200% on your exisiting car. What's more? You get to enjoy flexible EMI repayment options and quick disbursal of funds which makes Tata Capital the best choice for taking car loans for used cars.

I want to change the bank from which my EMI is being debited.

    For Retail Loans:

    Please click here to know if your bank is a participant for digital E-NACH

    If your bank is a participant in digital E-Nach registration.

    • Raise the request by logging into Tata Capital’s website. Login here.
    • You may also send us a request via email on customercare@tatacapital.com with a scanned image of your cancelled personalized cheque (with your name printed on it) of your new bank account or the account statement having the bank’s details with IFSC (Indian Financial System Code). After receiving the request with the document, we would send you an SMS with E-NACH registration link to your registered mobile number. 
    • You are requested to complete the E-NACH registration by clicking on the link. Once registration journey is completed successfully, the new bank account details will be updated in our records.

    Note: Requests submitted between 27th day of the month & EMI due date, upcoming EMI will be debited from the existing bank account. Subsequent EMIs will be debited from new Bank account, post mandate is registered successfully.

    Example - In the scenario of EMI due date on 3rd of every month. If the request is submitted between 27th September – 3rd October, October month’s EMI will be debited from existing bank account. New bank account will be debited from November month.

    If your bank is NOT a participant in digital E-Nach registration.

    Since your bank does not participate in digital e-NACH registration, we would need some physical documents from you. You can contact us to place a request for your Bank NACH change. Our service executive will connect with you on your registered mobile number to fix an appointment as per your convenience to collect the below documents.
     

    1. Photocopy of a cancelled personalized cheque from the new desired bank account

    2. Your consent and signature on the new NACH mandate form (executive will carry this form along with him)

    Please note that it takes about 30 days for the NACH to be registered with the bank.

    Note: EMI will be presented to the existing bank till the time your new bank account gets updated in our records.

NOC for Used Car Loan Account.

    NOC will be dispatched to your registered Address within 5 working days from the date your loan closure. 

    In case you need us to send the NOC on any other address or at your nearest branch, you can contact us or visit the branch.

    Your CIBIL score will automatically get updated after a month of your loan closure.

Does Tata Capital offer a used car loan online?

Yes, we at Tata Capital allow you to apply for pre-approved car loans online. You can apply for the loan following these steps-

Step 1: Fill out the online pre-owned car loan form to start with the application process.

Step 2: Visit any Tata Capital-affiliated used car dealership.

Step 3: Upload the necessary documents.

Step 4: Our representatives will verify the documents. 

Step 5: After we complete the verification, the loan amount will be sanctioned and disbursed directly to your bank account.

Can I use a personal loan to buy a car?

The personal loan provided by Tata Capital is an unsecured term loan that you can use to fulfil all your personal needs, including buying a car.

However, if you want to take out a bigger loan or want a loan with a lower interest rate, we suggest opting for our pre-owned vehicle loan. You can buy any used car, including a hatchback, a premium sedan, or an SUV, without dipping into your savings with a Tata Capital used car loan.

Our pre-owned car loan features include loan amounts covering up to 95% of your car value with a flexible repayment tenure of 12-72 months.

You can apply for personal and used car loans online or offline with us.

How can you apply for a used car loan in Mumbai?

You can apply for a used car loan online or offline in Mumbai or any state of India by following these steps.

Steps for online application-

Step 1: Fill out the online second-hand car loan form to start with the application process.

Step 2: Visit any Tata Capital-affiliated used car dealership.

Step 3: Upload the necessary documents.

Step 4: Our representatives will verify the documents. 

Step 5: After we complete the verification, the loan amount will be sanctioned and disbursed directly to your bank account.

Steps for offline application-

Step 1: Visit the nearest branch of Tata Capital.

Step 2: Fill out the used auto loan application form. Submit the form along with the required documents.

Step 3: A Tata Capital representative will connect with you over a call to review your application and documents.

Step 4: We will disburse the loan amount to your account after verification.

Should I make a down payment for a used car loan?

Down payments for pre-owned car loans are not a mandate at Tata Capital. 

But we suggest you make a down payment if you want a pre-approved car loan without affecting your credit score. This is because it significantly reduces the loan amount and your loan repayment duration, EMIs and total interest. So, you can repay your loans without impacting your savings, making you less likely to default on them and helping you maintain your credit score.

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