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AU Small Finance Bank Used Car Loan

AU used car loan is one of the vehicle loans offered by AU Small Finance bank. The AU bank second hand car loan can be availed for the purchase of hatchbacks, entry level  sedans, premium sedans and SUVs/MUVs that you desire. The AU second hand car loan is offered at competitive interest rates that start from 14% and you can avail up to 90% LTV on this type of AU loan. Let us explore this section and know more about the AU bank pre-owned car loan

AU Bank Used Car Loan Interest Rates & Charges

Loan Amount

80-90% LTV

Interest Charges

14%-23% 

Processing Fees

Up to 2% of the loan amount + applicable charges

Repayment Tenure 

Ranges from 12 months to 5 years

Prepayment

  • 5% of the principal outstanding on prepayment within 12 months
  • 3% of the principal outstanding on prepayment after 12 months

AU Second Hand Car Loan: Features and Benefits

1. Loan for Second hand Car : AU bank second hand car loan is an excellent way to buy your desired car without biting your wallet. The bank brings pre-owned car loans for an array of models such as entry level cars, sedans , SUVs etc. When you want to save your money and get your hands on your favorite car, the AU bank used car loan is one of the best options for you. 

2. Loan Amount : The loan amount that is offered to you by the bank is determined by the type of second hand car you are going to buy. The model and age of your car are the important factors that determine the loan amount you can avail. Besides that, your eligibility and income are also male important factors that help decide the loan amount. AU bank offers up to 90% LTV varying from customer to customer. 

3. Interest Charges : The AU bank pre owned car loan interest rates are affected by multiple factors. Factors like your credit history, your income, the age and model of car you want to buy etc. help determine the rate of interest on your AU bank used car loan. The AU Small Finance bank second hand car loan interest rates start at 14% and range up to 23%

4. Loan Repayment Tenure : The AU bank used car loan repayment tenure ranges from 12 months to 5 years.

5. Prepayment : The bank brings you the option to prepay your AU used car loan, if you have sufficient funds, and foreclose the loan. Prepayment of your AU second hand car loan will help you avoid paying interest charges. However, the bank demands prepayment/foreclosure charges when you prepay your loan. If you prepay the used car loan amount within 12 months then the bank charges 5% of the principal outstanding and 3% of the principal outstanding on making prepayments after 12 months.

Eligibility AU Small Finance Bank Used Car Loan 

You need to make sure you are eligible for AU finance used car loans before you apply for it. Not meeting eligibility requirements can get your used car loan application rejected by the bank. Your eligibility for AU car loan is determined by multiple factors such as your age, employment status, income etc.

Here is the eligibility criteria for AU bank used car loan:

  • The applicant should be an Indian citizen.
  • The minimum age of an applicant should be 18 years and the maximum age of the applicant should not be more than 65.
  • The applicant should have a co-applicant. Family members such as parents or the spouse can become co-applicant for the AU Small Finance used car loan
  • The applicant should have residence stability. 
  • The applicant should have a steady job or business.
  • The applicant should have a convincing credit history. 

Documents Required for AU Small Finance Bank Used Car Loan 

These are the documents that are required for AU bank used car loan application:

Documents 

Salaried Applicants

Self Employed Applicants

Identity Proof

Aadhar Card, Voter’s ID Card, Passport, Driving Licence

Aadhar Card, Voter’s ID Card, Passport, Driving Licence

Address Proof

PAN Card,  Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills

PAN Card,  Voter’s ID Card, Passport, Driving Licence, Utility Bills such as Electricity, Telephone, Water Bills

Income Proof

Salary Slips, Bank Statements, Form 16

Balance sheet and profit and loss account, IT Returns, Business Proof

Other Documents

Passport-size Photographs, Duly Filled Application Form 

Passport-size Photographs, Duly Filled Application Form

 Other Types of Loan Offered By the Banks

Home Loan Personal Loan Business Loan
Mortgage Loan Gold Loan Education Loan
Loans Against Property Car Loan Two Wheeler Loan

How to Apply for AU Small Finance Used Car Loan

Here is how to apply for AU Small Finance Second hand car loan:

Apply For AU Bank Used Car Loan Offline

You can visit the nearest branch of AU Small Finance bank to apply for the used car loan. The bank official will assist you through the process of loan application. You should carry all the required documents that you have to submit with the used car loan application. 

You can also contact the AU Small Finance bank customer service and enquire about the used car loan. 

Apply For AU Bank Used Car Loan Online

You can opt for the online method to apply for the AU Small Finance bank used car loan. In order to apply online, you need to follow the steps mentioned below:

  • Visit the official website of AU Small Finance Bank.
  • Now, click on the “Retail Loan” menu at the top. 
  • After that, hit the “Vehicle Loan” menu and then, click on the “Car Loan” option. 
  • Now, go to the “Personal Car Loan” option. 
  • Click on the “Used Car Loan” option.
  • Once you are on the used car loan page, you will find an application form which you have to enter the required details in. 
  • Hit the “Apply Now” button. 

AU Bank Used Vehicle Loan Customer Care

  • Customer Care Number - 1800 1200 1200, 1800 26 66677
  • Customer Care Mail -  customercare@aubank.com

FAQs On AU Small Bank Used Car Loan

Q.1 How can I track my AU used car loan application status?

You can constant the customer service of AU bank and enquire about the status of AU used car loan application. You can also track the status of your AU bank second had car loan application online. To do that, you need to go to the official website of AU Small Finance Bank. Here are the steps that you can follow to use the application tracker:

  • Go to the official website of AU Small Finance bank.
  • Click on the “Retail Loans” dropdown menu.
  • Now, hit the “Track Your Application” from the menu.
  • Enter the required information.

Q.2 How to calculate the AU used car loan EMI?

You can use the EMI calculator available on the website of AU Small Finance bank to check the EMI of your second hand car loan. 

Q.3 Do I need to provide a guarantor to avail the AU second hand car loan?

Yes. The bank requires you to mention a guarantor in the second hand car loan application. You can mention your parents, spouse or children as your second hand car loan guarantor. 

Last Updated on : 10/Apr/2021

Know More About

Au Small Finance Bank Used Car Loan

You're eligible for a Au Small Finance Bank Used Car Loan if you:


Are legally adult enough to handle it


Have still got it


Get a regular pay check


Make more than a basic buck

Your eligibility depends on:


Earn more than minimum income required


Maximum allowed Used Car Loan is Rs. 10K to Rs. 45 lakhs


EMIs of other loans loweryour eligibility

Boost your eligibility by:


Pay off your credit card bills


Choose longer tenure loan up to 5 years

Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Au Small Finance Bank Used Car Loan Interest Rates

Updated on 25 Nov 2017

Au Small Finance Bank Used Car Loan Details
Interest Rate (Monthly reducing balance) 12% - 20%
Processing Fees Upto 2% of the loan amount
Loan Tenure 1 year to 5 years
Pre-closure Charges Varies with bank
Guarantor Requirement Varies with bank

Used Car Loan EMI Calculator

Loan Amount

|
1L
|
50L
|
100L
|
150L
|
2Cr

Interest Rate

%
|
5
|
10
|
12.5
|
17.5

Loan Tenure

|
1
|
10
|
20
|
25
|
0
|
120
|
240
|
300


Your Monthly Loan EMI


₹24,959