If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    Sundaram Finance Used Car Loan is Rated as "Great!" by 428 Users

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    Sundaram Finance Used Car Loan

    Sundaram Used Car Finance Minimum Age

    At least 21 years old

    Sundaram Used Car Finance Maximum Age

    Less than 65 years old

    Sundaram Used Car Finance Eligible Employment Type

    Salaried or self-employed
    with regular income

    Sundaram Used Car Finance Minimum Income

    Earn more than the minimum
    income required


    Your Sundaram Used Car Finance amount eligibility is based on these factors

    01
    02
    03
    Sundaram Used Car Finance Minimum Salary

    Minimum income required
    Rs. 2.5L per annum

    Sundaram Used Car Finance Maximum Loan to Value

    Loan capped @
    85% of the ex-showroom price

    Sundaram Used Car Finance EMI

    EMIs of other loans lower
    your eligibility


    Increase your eligible Sundaram Used Car Finance amount by these steps

    01
    02
    Sundaram Used Car Finance Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    Sundaram Used Car Finance Maximum Tenure

    Choose longer tenure loan up to 3 years


    Documentation needed to apply for an Sundaram Used Car Finance

    • 1. Residence proof
    • 2. Photo ID and age proof
    • 3. Signed application form with photograph
    • 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


    Sundaram Used Car Finance Interest RatesUpdated on 17 Nov 2018

    Sundaram Used Car Finance Details
    Interest Rate (Monthly reducing balance) 12.00% to 14.00%
    Processing Fees Rs. 2,500
    Loan Tenure 1 year to 3 years
    Pre-closure Charges 3% of principal outstanding
    Guarantor Requirement No guarantor required

    Sundaram Finance Used Car Loans

    Getting an auto loan for a second-hand vehicle is an easy task with Sundaram Finance offering an affordable used car loan scheme at competitive interest rates and hassle-free processing of loan applications. Sundaram Finance provides complete assistance to a customer, from when an application is made until the time the car loan is sanctioned and disbursed. Factors like the age of the vehicle that is being financed and applicant’s employment criteria are considered by Sundaram Finance while approving a used car loan.

    Features of a Sundaram Finance Used Car Loan

    The key features of a Sundaram Finance Used Car Loan have been listed below -

    Age of the Car

    Sundaram Finance provides used car loans for Honda, Maruti, Toyota and Hyundai vehicles that are aged up to ten years, at the time of completion of the loan. For all other makes of cars, the age of the vehicle should be eight years at the time of completion of the loan.

    Loan Amount

    Pre-owned Vehicles - Any borrower purchasing a car from a direct owner, broker or pre-owned dealers will qualify under this category. The loan amount sanctioned by Sundaram Finance would be 85% of the purchase price of the car or as per the Valuation report submitted by the Sundaram Finance Panel Surveyor, whichever is lower.

    Used Vehicles - If a used vehicle has been registered under the borrower’s name, the payment will be done only after hypothecation to Sundaram Finance Limited. The loan amount sanctioned by Sundaram Finance would be as per the Grid Value.

    Eligibility criteria for a Sundaram Finance Used Car Loan

    The Sundaram Finance Used Car Loan can be availed by salaried professionals, self-employed businessmen and professionals, partnership and proprietorship concerns and private and public listed companies.

    Documents required for Sundaram Finance Used Car Loan

    The following documents have to be submitted by the applicant before the used car loan has been approved -

    1. Insurance Copy of the Used Vehicle
    2. Registration Certificate - Copy of the RC Book

    Here are the documents that have to be furnished for the loan to be sanctioned -

    ID Proof - Salaried Individuals / Professionals / Businesses/ Proprietorship Concerns

    1. Valid Passport
    2. Credit card with photograph
    3. Patta passbook - with photograph
    4. PAN card
    5. Voter’s ID card
    6. Driving license
    7. Ration card

    Residence Proof - Salaried Individuals / Professionals / Businesses/ Proprietorship Concerns

    1. Valid Passport
    2. Driving license
    3. Lease agreement
    4. Housing society bill
    5. Water tax challan
    6. House tax challan
    7. Life Insurance premium receipt
    8. Electricity bill
    9. Phone bill
    10. Ration card
    11. Voter’s ID card

    Residence Proof - Salaried Individuals / Professionals / Businesses/ Proprietorship Concerns / Partnership Concerns

    1. House tax challan
    2. Patta copy
    3. Water tax challan
    4. Property Sale deed
    5. Housing co-operative Society bill

    Income Proof - Salaried Individuals / Professionals / Businesses/ Partnership Concerns / Private and Public Limited Companies

    1. Salary slips for the last two months
    2. Form 16
    3. IT returns statements for the last two years with acknowledgement/computation.
    4. Latest IT returns statement
    5. Audited P & L / balance sheet

    Income Proof - Proprietorship Concerns / Partnership Concerns

    1. Previous year's IT returns statement with acknowledgement
    2. Provisional for the current year

    For Salaried Individuals / Professionals / Businesses/ Proprietorship Concerns - Bank account statements for the last six months.

    Signature Proof - Salaried Individuals / Professionals / Businesses/ Partnership Concerns / Proprietorship Concerns / Private and Public Limited Companies

    1. Valid Passport
    2. Credit card
    3. Driving license
    4. PAN card
    5. Voter’s ID card
    6. Signature verification - To be got from the borrower’s bank from where PDCs would be issued.

    Partnership Concerns - Partnership deed

    Private and Public Limited Companies - Memorandum of Association and Articles of Association

    Passport-size photograph - 1 - Salaried Individuals / Professionals / Businesses/ Proprietorship Concerns

    Sundaram Finance Used Car Loan Interest Rates

    The used car loan interest rate is determined as a flat rate according to the Prime Lending Rate of the bank. Customers can contact the nearest Sundaram Finance branch to get more details on the used car loan interest rates.

    EMI calculator for Sundaram Finance Used Car Loans

    Prospective borrowers can easily get an estimated cost of a Sundaram Finance used car loan using the car loan EMI calculator tool. This tool is available on the BankBazaar home page and can be accessed by any user. The car loan EMI calculator tools gives customers a complete break-up of the principal amount and interest rates that they would have to pay for the entire tenure of the loan. Inputs inclusive of loan amount, interest rates, loan tenure, processing fees, etc., have to be given to get the amortization schedule. Based on this output, customers can decide on the amount and tenure of the loan that they would like to avail. BankBazaar’s used car loan calculator returns with outputs only in a matter of seconds, making it very convenient for the customer to make his decision. After the estimate has been received, customers can instantly apply for a used car loan online from Sundaram Finance.

    Sundaram Finance Used Car Loan Reviews

    • Sundaram Finance Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience with Sundaram Finance for car loan was very good, the process was smooth and i received my loan amount on time. Customer service was good and they responded on time. The tenure period for this loan is 4 years but i preclosed the loan in 1.5 years. I have to pay interest for 4 years as preclosure charges.
      Was this review helpful? 5
      , chennai
      Reviewed on Sep 19, 2018
    • Sundaram Finance Car Loan
      "Good overall"
      0.5 5.0/5 "Blown Away!"
      I am happy with the services of Sundaram finance. I have taken my car loan from them. Since I am a privileged customer, they have offered me a good deal on the loan. The rate of interest was normal and there were no processing charges. The after loan services is good too.
      Was this review helpful? 2
      , hyderabad
      Reviewed on May 29, 2018
    • Sundaram Finance Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have got the car loan with the SUNDARAM FINANCE and this loan has the tenure of 3 years . I have got this loan around a year. I have got the requested loan amount from the Sundaram finance. The customer support service and the response is good with the Sundaram finance.
      Was this review helpful? 1
      , hyderabad
      Reviewed on May 28, 2018
    • Sundaram Finance Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I've taken a Car Loan for 3 Lacs from Sundaram Finance for a tenure of 5 Years. I pay a monthly EMI of 8500. Most of the time I make payments online. The application process was so fast and also the documentation process. I got the loan with in 5 days of the application.
      Was this review helpful? 1
      , pune
      Reviewed on May 09, 2018
    • Sundaram Finance Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a car loan with Sundaram Finance and my loan experience was good, the rate of interest was high when compared to all other sources in the market. The process was smooth and i received my loan amount on time. The tenure period for this loan is 5 years and the customer service was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 25, 2018
    • Sundaram Finance Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My car loan experience with Sundaram Finance was very good, the process was smooth and i received my loan amount on time. The loan amount was for Rs 6 lakhs with the nominal rate of interest when compared to other sources. Customer service was good and they responded on time. My loan amount was based on the ex-showroom price and the tenure of this loan is 3 years.
      Was this review helpful? 0
      , thane
      Reviewed on Mar 07, 2018
    • Sundaram Finance Car Loan
      "Response needs to improve"
      0.5 3.0/5 "Satisfactory"
      There was certain issue with documents that was submitted. They didnt reply me at all. There was some issue with address proof. There process needs quite a lot of improvement. We haven't discussed any terms about the Loan at all. Their system might have been better.
      Was this review helpful? 0
      , mumbai
      Reviewed on Mar 01, 2018
    • Sundaram Finance Car Loan
      "Good Loan"
      0.5 5.0/5 "Blown Away!"
      I got a Grant i10 car recently and this financiers helped me with the required Loan amount. They have charged me an 8.25% interest rate on the Loan, a pretty standard one. The proces happened quickly. The ECS transaction happens smoothly. Customer was great and process was also pretty sharp.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Feb 25, 2018
    • Sundaram Finance Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have taken a car loan with Sundaram Finance and my loan experience was very good. The loan amount was for Rs 2 lakhs with the rate of interest of 15% which is nominal when compared to other sources. The process was very smooth and the tenure of this loan is 18 months. Customer service was good and they followed up on time. Overall it was a good service from Sundaram Finance.
      Was this review helpful? 0
      , jaipur
      Reviewed on Jan 25, 2018
    • Sundaram Finance Car Loan
      "Good sevice"
      0.5 5.0/5 "Blown Away!"
      My car loan is on going with Sundaram Finance. I have completed 13 months and the total period is 5 years. I have purchased a i10 brand. The customer service and response was good. They offered the expected the amount. I have to pay monthly 10,480 rupees through ECS.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 19, 2018
    • Sundaram Finance Car Loan
      "Car loan from Sundaram Finance"
      0.5 4.0/5 "Great!"
      I have taken a car loan from Sundaram Finance. The approved loan amount was 5 lakhs 30 thousand with a rate of interest was almost 12.5% The monthly EMI is 13800 for a tenure of 4 years It took almost around 10 to 15 days for the approval, too much of documents
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 02, 2018
    • Sundaram Finance Car Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      It was a fine experience with sundaram for my car loan service the process was was very slow they took very long time to process also the interest rate they quote me was 9.54 which was high compare to others in the market it was good service from sundaram for my car loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • Sundaram Finance Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      Sundaram finance car loan service was good they given some time for me to submit the documents for the loan process but I was been engaged with my personal issues so I unable to process further with my loan process it was the main reason for cancellation of my loan process with sundaram finance.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 24, 2017
    • Sundaram Finance Car Loan
      "GOOD SERVICE"
      0.5 4.0/5 "Great!"
      It was a fine experience with sundaram for my car loan service ,I have some personal reasons so I was unable to process further with my loan process so I postponed my loan request for next year the interest rate they quoted me was also good compare to others in the market it was totally a good service from sundaram car loan service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 24, 2017
    • Sundaram Finance Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have applied for the car loan from Sundaram Finance, my loan application was closed because i have taken the car loan from other bank. Customer service part wad very good, they followed up on time and their response was good. The rate of interest was nominal when compared to other banks.
      Was this review helpful? 0
      , jaipur
      Reviewed on Nov 22, 2017
    • Sundaram Finance Car Loan
      "Good customer service"
      0.5 4.0/5 "Great!"
      I have applied for the car loan from Sundaram Finance, my loan application was closed because i have taken the car through cash payment. When it comes to customer service, it was good and their response was also good, regular follow ups was done. The rate of interest is littile high when compared to other banks.
      Was this review helpful? 0
      , bangalore
      Reviewed on Nov 22, 2017
    • Sundaram Finance Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The service was good with sundaram for my car loan service the interest rate they offered me was fine I had some personal issues so I was unable to pay my loan properly so this turn had impacted my credit score., On the other hand, The documentation part was easy it was an average service that I received from Sundaram.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 22, 2017
    • Sundaram Finance Car Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      I have postpone the car loan plan at present , So that was the reason I haven't got the car loan with sundaram finance. The sudaram finance gave good response , immediately they have call back and they have explained the product and the rate of interest which they have offered me was average when compared with others.
      Was this review helpful? 0
      , chennai
      Reviewed on Nov 16, 2017
    • Sundaram Finance Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have dropped the car plan at present so that was the reason I haven't got the car loan with Sundaram finance. The customer support was good with the sundaram finance. Already I had got a car loan experience with sundaram finance, they gave me better service, but the rate of interest is high with Sundaram finance when compared with other financial organizations or banks, it would be great if they reduce their interest rates.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Nov 16, 2017
    • Sundaram Finance Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      I have requested for a car loan form Sundaram finance.The loan amount is three lakhs.Rate of interest is 11% very high compared to other banks.The reason for closing the application is i have arranged funds from a different source. Otherwise the bank service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Nov 16, 2017
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