Used car loans in Jodhpur, with honest advice on the car
A second-hand car can be a smart buy or an expensive mistake. We help you check the deal, find a lender that finances pre-owned cars, and get the transfer and insurance right.
How it works
- Send us the car. Make, model, year, kilometres and the price you have been quoted or agreed.
- We give you an honest read. Whether the price looks right for that car, and what its paperwork needs before you pay anything.
- We find a lender. Not every lender finances every used car. The car's age, its valuation and the tenure you want all matter, so we shortlist lenders that fit both the car and your profile.
- Paperwork and transfer. The loan documents, the RC transfer into your name, and the lender's hypothecation recorded on it.
- Insurance in your name. The policy moves to you with the car, or you take a fresh one. We tell you which makes sense.
Car loan EMI calculator
Enter the interest rate from your lender's offer to see the monthly EMI and what the loan costs in total.
Your EMI appears here once you enter the interest rate.
An estimate only. Your actual EMI depends on the rate, charges and tenure in your lender's sanction letter, and approval is always the lender's decision.
Before you pay for a used car
Check these before any money changes hands:
- The registration certificate is in the seller's name, and the chassis and engine numbers on the car match it.
- Whether an old loan is still recorded on the RC. If it is, the seller's lender has to issue a no-objection certificate and the hypothecation has to be cleared first.
- A valid pollution under control (PUC) certificate, and the current insurance policy: comprehensive or third-party only, and when it ends.
- Any pending traffic challans against the car.
- The service history, and a mechanic's inspection if you are not sure about the car's condition.
Buying a new car instead?
This page is about loans on pre-owned cars. If you are buying a new car from a dealer, the process is simpler, because there is no seller's RC to transfer and no old loan to clear: see new car loans in Jodhpur. If you are weighing the two, read how a new and a second-hand car loan differ.
Insurance on a second-hand car
The insurance has to move into your name along with the RC, and the sooner the better, because a claim gets complicated while the policy still names the old owner. The seller's No Claim Bonus belongs to the seller, not the car, so it does not come with it. If the car's existing cover is thin or ends soon, a fresh policy can be simpler. See motor insurance for how we compare cover.
Questions about used car loans
Can I get a loan on a second-hand car in Jodhpur?
Many banks and NBFCs finance pre-owned cars. How much they lend and for how long depends on the car's age and value as well as your own profile. We shortlist lenders that fit both, and the final decision is the lender's.
How much will a lender give on a used car?
Each lender values the car itself and lends a share of that value, which is not always the price you agreed with the seller. The share and the longest tenure allowed vary by lender and by the car's age, so we get you real figures rather than guess.
Is a used car loan more expensive than a new car loan?
Often the rate is higher, because the lender is lending against an older car. Compare the total you will repay, including processing charges, not only the EMI. We lay the offers out side by side so you can see it.
How does the RC transfer work when there is a loan?
The transfer is done at the RTO with forms signed by both buyer and seller, and your lender's hypothecation is recorded on the new RC. We tell you which documents are needed and in what order, so the loan, the transfer and the insurance all line up.
Is this the page for a brand-new car?
No. This page is about loans on second-hand cars. For a new car bought from a dealer, see new car loans.
Does the seller's No Claim Bonus transfer to me?
No. The No Claim Bonus belongs to the person who earned it, not to the car. The seller can carry it to their next car, and you build your own from your first claim-free year.
Our advice costs you nothing. How we are paid.
Guides
- Documents required for a car loan in IndiaThe documents required for a new or used car loan in India: KYC, income proof, bank statements and the car's papers, and what you need to close the loan.
- New car loan or second-hand car loan: what actually differsHow a second-hand car loan differs from a new car loan in India: how lenders value the car, the extra paperwork, the RC transfer and the insurance.
Also arranged by Radiant Group
Talk to an advisor in Jodhpur
Send one message on WhatsApp with what you need, call, or visit the office at 2, Kailash Apartment, 4th A Road, Sardarpura, Jodhpur, Rajasthan 342003. Monday to Saturday, 10am to 9:30pm.