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Resources

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Credit

Used Car Loan

Get a Used Car Loan Up to ₹5 Lakh With Freo

Found the right pre-owned car? Freo's personal loan gives eligible borrowers access to funds for their used-car purchase. Borrow only what you need from your approved limit and repay through applicable EMIs, without pledging the vehicle as collateral.

Pay interest only on what you use

No Vehicle Hypothecation Required

100% Safe and Secure

RBI Regulated Partners

Apply now

Get a Used Car Loan Up to ₹5 Lakh With Freo

Lakh+
Happy Customers

10,000

Crores
Loans Disbursed

100%

Safe and Secure.
RBI-Regulated Partners.

Lifetime Access
to Personal Loan

Lakh+
Happy Customers

10,000

Crores
Loans Disbursed

100%

Safe and Secure.
RBI-Regulated Partners.

Lifetime Access
to Personal Loan

Lakh+ Happy Customers

10,000

Crores Loans Disbursed

100%

Safe and Secure. RBI-Regulated Partners.

Lifetime Access to Personal Loan

What Can You Use a Used Car Loan For?

Found the Right Used Car? Your Loan Can Cover the Full Deal, Not Just Part of It

Used Car Purchase

Manage the cost of buying a pre-owned car without paying the full amount upfront.

Used Car Purchase

Manage the cost of buying a pre-owned car without paying the full amount upfront.

Used Car Purchase

Manage the cost of buying a pre-owned car without paying the full amount upfront.

Used Car Purchase

Manage the cost of buying a pre-owned car without paying the full amount upfront.

Down Payment

Use the funds towards the upfront amount required for your used-car purchase.

Down Payment

Use the funds towards the upfront amount required for your used-car purchase.

Down Payment

Use the funds towards the upfront amount required for your used-car purchase.

Down Payment

Use the funds towards the upfront amount required for your used-car purchase.

Registration and Insurance

Manage eligible registration, insurance and other purchase-related expenses.

Registration and Insurance

Manage eligible registration, insurance and other purchase-related expenses.

Registration and Insurance

Manage eligible registration, insurance and other purchase-related expenses.

Registration and Insurance

Manage eligible registration, insurance and other purchase-related expenses.

Repairs and Maintenance

Cover eligible repair and maintenance costs for your pre-owned car.

Repairs and Maintenance

Cover eligible repair and maintenance costs for your pre-owned car.

Repairs and Maintenance

Cover eligible repair and maintenance costs for your pre-owned car.

Repairs and Maintenance

Cover eligible repair and maintenance costs for your pre-owned car.

Calculate Your Used Car Loan EMI

Choose an EMI that fits comfortably within your monthly budget

How to Get Freo’s Used Car Loan

Step 1

Download and apply

Download the Freo app and complete your registration and loan application.

Step 2

Verify your details

Complete KYC with a selfie, confirm your employment and income details, and verify your bank account.

Step 3

Set your terms

Step 4

Get your funds

Step 1

Download & apply

Download the Freo app and complete your registration and loan application.

Step 2

Verify your details

After the approval from our system, we’ll schedule a KYC visit to your house / office to collect documents.

Step 3

Set your terms

Credit line is ready to use! From the approved limit, transfer as much money as you need to your bank account.

Step 4

Get your funds

Download Freo App

Check Eligibility & Documents for Freo’s Used Car Loan

Who Can Apply

Indian resident, aged 22 to 55 years

Minimum net monthly income of ₹25,000

Both salaried & self-employed applicants eligible

Has a credit score of 650 or above

What You’ll Need

PAN card

For Identity and Credit Verification

ID proof

(Aadhaar Card, Passport or Driving Licence)

Address proof

(Aadhaar, Passport
or Driving Licence)

Selfie via app

(for KYC)

Who Can Apply

Indian resident, aged 22 to 55 years

Minimum net monthly income of ₹25,000

Both salaried & self-employed applicants eligible

Has a credit score of 650 or above

What You’ll Need

PAN card

For Identity and Credit Verification

ID proof

(Aadhaar Card, Passport or Driving Licence)

Address proof

(Aadhaar, Passport
or Driving Licence)

Selfie via app

(for KYC)

Who Can Apply

Indian resident, aged 22 to 55 years

Minimum net monthly income of ₹25,000

Both salaried & self-employed applicants eligible

Has a credit score of 650 or above

What You’ll Need

PAN card

For Identity and Credit Verification

ID proof

(Aadhaar Card, Passport or Driving Licence)

Address proof

(Aadhaar, Passport
or Driving Licence)

Selfie via app

(for KYC)

Trusted & used by 30M+ users

5 star rating

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.
Julen
Customer
You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.
Navjyoti
Customer
I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.
N cavin misao
Customer
The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.
Julen
Customer
You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.
Navjyoti
Customer
I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.
N cavin misao
Customer
The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.
Julen
Customer
You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.
Navjyoti
Customer
I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.
N cavin misao
Customer
The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.
Julen
Customer
You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.
Navjyoti
Customer
I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.
N cavin misao
Customer

Trusted & used by 30M+ users

5 star rating

The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.
Julen
Customer
You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.
Navjyoti
Customer
I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.
N cavin misao
Customer
The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.
Julen
Customer
You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.
Navjyoti
Customer
I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.
N cavin misao
Customer
The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.
Julen
Customer
You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.
Navjyoti
Customer
I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.
N cavin misao
Customer
The best feature on the app is instant feedback. You say "thank you" and it replies "welcome" - its' all done by the app. I have not seen this kind of intelligence in any other app. Absolutely love it.
Julen
Customer
You can have credit cards but you have to pay hefty interest rates if you want to use them as a loan. You need to go for a personal loan if you need cash. But Freo credit has a kind of 2-in-1 facility that lets you withdraw cash when you need it and change it to EMI as well [with lower interest rates]. I think it's really helpful and unique.
Navjyoti
Customer
I was short of Rs. 30,000 for the down payment on my car. I used MoneyTap and got the money immediately. Thank you.
N cavin misao
Customer

Why Choose Freo for a Used Car Loan?

Up to ₹5 Lakh in Credit

Access an approved credit limit of up to ₹5 lakh, subject to eligibility and approval.

Up to ₹5 Lakh in Credit

Access an approved credit limit of up to ₹5 lakh, subject to eligibility and approval.

No Vehicle Collateral Required

No Vehicle Collateral Required

Flexible EMI Repayment

Flexible EMI Repayment

Digital Application

Digital Application

Use Only What You Need

Use Only What You Need

Quick Access to Funds

Quick Access to Funds

100% Safe & Secure

100% Safe & Secure

Things to Check Before Buying a Used Car

Inspect the Car and Documents

Check the vehicle's condition and verify its documents before making the purchase.

Inspect the Car and Documents

Check the vehicle's condition and verify its documents before making the purchase.

Inspect the Car and Documents

Check the vehicle's condition and verify its documents before making the purchase.

Check the Insurance

Make sure the vehicle's RC is transferred to your name after the purchase.

Check the Insurance

Make sure the vehicle's RC is transferred to your name after the purchase.

Check the Insurance

Make sure the vehicle's RC is transferred to your name after the purchase.

Calculate the Total Cost

Consider the purchase price along with registration, insurance, repairs, maintenance and other ownership costs.

Calculate the Total Cost

Consider the purchase price along with registration, insurance, repairs, maintenance and other ownership costs.

Calculate the Total Cost

Consider the purchase price along with registration, insurance, repairs, maintenance and other ownership costs.

Transfer the Registration Certificate

Make sure the vehicle's RC is transferred to your name after the purchase.

Transfer the Registration Certificate

Make sure the vehicle's RC is transferred to your name after the purchase.

Transfer the Registration Certificate

Make sure the vehicle's RC is transferred to your name after the purchase.

Freo's Used Car Loan Fees and Charges

Before applying, review the interest rate, processing fee and other applicable charges associated with your Freo credit.

Type of Charge	Applicable Amount
Interest Rate	Starting at 12% p.a. / approx. 1% per month
Processing Fee	Starting at 2% of the loan amount, charged upfront at disbursal
Late Payment / Overdue EMI Interest	Up to 3% per month on the outstanding principal
Foreclosure Charges	Up to 3–4% of the outstanding amount in certain cases. No lock-in period; loan can be closed anytime.
Documentation Fee	May apply based on the user profile
ECS / Payment Bounce Charge	May apply based on user profile and repayment behaviour
GST	Applicable as per government and regulatory guidelines
Loan Tenure	3 to 48 Months

Type of Charge	Applicable Amount
Interest Rate	Starting at 12% p.a. / approx. 1% per month
Processing Fee	Starting at 2% of the loan amount, charged upfront at disbursal
Late Payment / Overdue EMI Interest	Up to 3% per month on the outstanding principal
Foreclosure Charges	Up to 3–4% of the outstanding amount in certain cases. No lock-in period; loan can be closed anytime.
Documentation Fee	May apply based on the user profile
ECS / Payment Bounce Charge	May apply based on user profile and repayment behaviour
GST	Applicable as per government and regulatory guidelines
Loan Tenure	3 to 48 Months

Type of Charge	Applicable Amount
Interest Rate	Starting at 12% p.a. / approx. 1% per month
Processing Fee	Starting at 2% of the loan amount, charged upfront at disbursal
Late Payment / Overdue EMI Interest	Up to 3% per month on the outstanding principal
Foreclosure Charges	Up to 3–4% of the outstanding amount in certain cases. No lock-in period; loan can be closed anytime.
Documentation Fee	May apply based on the user profile
ECS / Payment Bounce Charge	May apply based on user profile and repayment behaviour
GST	Applicable as per government and regulatory guidelines
Loan Tenure	3 to 48 Months