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Used Car Loan in Mumbai

Qbera Second Hand Car Loan.
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Choose your employment status to find the Qbera Loan that’s best for you!
I am Salaried (I currently work for a Private Ltd, Public Ltd, Govt., LLP)
I am Salaried (I currently work for a Proprietorship, Partnership Firm)
I am Self Employed (I have my own business)
I am Currently Not Employed
Loan amounts range from Rs.1,00,000 to Rs.15,00,000. APR ranges from 11.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

Used Car Loan in Mumbai

If you have come to the point in your life where you feel that purchasing your own car is the next step for you, you should definitely consider buying a second hand car. In Mumbai we are blessed with a plethora of great options for second hand cars. However, don’t assume that every salesman is telling you the truth when he says that the cars in his showroom are impeccable. You must do plenty of research before you even step into a second hand car showroom. Make sure you are not overwhelmed with the options out there by asking people around you for their opinions about which make of car you should go for, what must be avoided, which dealers are best, etc. If you happen not to have to any friends who are experts at cars, the internet can easily be your guide. Everything you need to know is available online.

Why go for a Used Car Loan ?

Following are some reasons that you should opt for a second hand car in Mumbai now:

  • Cheaper: Many ‘Mumbaiites’ are now opting for second hand cars, particularly if they are first time car owners. First of all, they are a lot cheaper which means that even if you take out a loan to fund your car, it will be a lot easier to repay the amount if you go for a cheaper, second hand car. Secondly, even with a modest budget you can snatch up a much higher end car if you are to go for a second hand versus a first-hand car. What’s more, in the little budget that you have, you can also get added bonuses like a sunroof, which would not be possible with a new car.
  • Don’t be affected by the steepest depreciation: Purchasing a car is considered to be not a great investment because of how quickly they depreciate in value. The steepest depreciation happens in the first two years, so if you buy a used car, you will be skipping the steepest depreciation that it goes through.
  • Reliability: Car manufacturers have come a long way in terms of how well cars are built. Nowadays, the cars being built are a lot sturdier and made to last a lot longer. Thus longer warranty periods are also offered to validate the high quality standard that they uphold.
  • Certified: The most important decision to make while looking for used cars is narrowing down on a particular car dealership (and there are so many in Mumbai). You must find one that is well reputed and certified. With a certified dealership, you can be sure that the cars they sell are thoroughly inspected for any major accidents that it has been through. Any issues that a car would have in terms of mechanical and cosmetic are addressed and dealt with before they are put out for sale. You must read reviews of dealers and make an informed decision.
  • Practice makes perfect: As a new driver, everyone needs practice. Doesn’t it sound like a better idea to practice on a second hand car before you take over the wheels of a brand new vehicle?
  • Easy financing: You can be sure that getting a loan for a pre-owned car is easier because of the how much cheaper they are than brand new cars. The Down-payment and EMI would also be cheaper. Most banks will approve your loan, as will Qbera, as long as you fulfil the basic criteria.

Benefits of Financing your Pre-Owned Car with Qbera:

  • No collateral: The second hand car loan that Qbera offers is a type of personal loan, thus it is unsecured which means that it does not need collateral. This in turn will save you money, time and effort when you finish the repayment.
  • Up to 100% financing: The entire car related expenses (including the down payment) that you will face can be taken care of with just one personal loan from Qbera. You will not have to look for alternate sources of finances at all.
  • One day approval: Application, approval and disbursement of your funding can be done in just a day!
  • Interest Rate on Used Car Loan: The APR charged by Qbera is between 14-24%, which is on par with the current market rates.
  • Fees and other charges: Fees and other charges that Qbera offers are some of the most competitive rates in the country. The processing fee that we charge is just 2-3% (this will be based on the amount borrowed). Other charges like late payment fees, prepayment charges, ECS/cheque bounce charges and special service request charges are as per the RBL norms.
  • Complete support: From the moment that you have decided to avail a personal loan, our staff will hand hold you through the process of availing the loan and long after, until you complete the repayment. We are available anytime between 10AM and 6PM IST on weekdays, between 10AM and 1PM on weekends for any queries. The whatsapp number is +91 89719 28484. You could also send a message on the website’s chat or you could mail in your doubts. If you happen to leave a message, we will be sure to get back to you within a day.

Apply for a Used Car Loan in Mumbai :

Getting a Second Hand Car Loan via Qbera in Mumbai is as easy as buying a misal. It’s a simple five step process:

  • Step 1: Log on to Qbera.com and fill in the application form (which takes just about 5 minutes)
  • Step 2: Upload your bank statement on the website
  • Step 3: Receive an offer from Qbera within 4 hours
  • Step 4: A representative from Qbera will come to you, at your convenience and collect the required documents.
  • Step 5: The amount will be transferred to your account in less than 24 hours

Documents Required for Second Hand Car Loan:

  • Bank Statement
  • 3 cancelled cheque leaves
  • One photograph
  • Income proof
  • Aadhar card
  • Address proof
  • Pan card

Eligibility Criteria:

  • Applicant must have good credit history in the past.
  • Applicant must be employed and earning a minimum salary of Rs. 20,000
  • Applicants must be between the ages of 23 and 55

1. What is the tenure of a personal loan from Qbera?

The loan tenure at Qbera is a flexible one and it ranges from 1 to 5 years (12 to 60 months).

2. What is an EMI?

It is the fixed amount that a borrower pays to the lender on a particular date every month. An EMI includes the principal and interest charged on a loan.

3. What is the minimum and maximum loan amount that I can get from Qbera?

The loan amount ranges between Rs. 25,000 to Rs. 10 Lacs.

4. What is unique about Qbera?

Our technology and lending partnership allow us to offer a world-class experience to our borrowers:

  • Paperless application
  • Instant lending decision
  • Digital verification of income, employment and residence
  • Disbursement of loan within 24-48 hours

Our CIBIL score cut-off is 625 and we can give loans to employees of more than 9 lac companies in India. Now you don’t have to get rejected by banks just because they have not analyzed and categorized your employer.

5. What should be my age to apply for a loan with Qbera?

You must be at least 23 years old to apply for a loan.

6. What should be my minimum salary to get a loan?

Your net monthly income must be Rs. 20,000 or more.

7. What should be my CIBIL score cut-off for a personal loan?

Our CIBIL score cut-off is 625 (V2 score).

8. What is the rate of interest charged on a personal loan?

Rate of interest depends on a borrower’s income, CIBIL score, employer, age etc. Qbera collects information from your application form and various other data sources to create a personalized loan offer for you. Our interest rates start at 11.99%.

9. What is the eligibility criteria to get a loan from Qbera?

To get a loan from Qbera, a borrower should meet the following eligibility criteria:

  • Must be a salaried employee.
  • Age must be between 23-55 years.
  • Net monthly income must be Rs. 20,000 or more.
  • No defaults in the last 24 months.
  • You must be residing in Delhi/NCR, Bangalore, Pune, Chennai, Mumbai or Hyderabad.

10. How do I apply for a loan online?

To apply for a loan online, click here. For queries, please Whatsapp us on +91 89719 28484.

11. What are the documents required to get a loan from Qbera?

The following documents would be required after your loan is digitally approved:

  • Aadhar Card
  • PAN Card
  • 4 cheques from your salary account
  • Current address proof
  • Permanent address proof (in case the permanent address is different from the address on Aadhar card)
  • Passport size photo

12. What is the processing fee charged on a personal loan by Qbera?

The processing fee ranges between 2% - 4%.

13. How can I repay my loan?

Qbera provides easy repayment of its smart loans through automatic debit of EMIs via NACH mandate.

14. Why was my loan application rejected at Qbera?

Although we have one of the best approval rates in the industry, we may have to reject some applications if they do not meet our basic qualification criteria. You can re-apply after 3 months in case you think that your credit profile has improved.

15. Can I re-apply for a loan?

Qbera requires you to wait for at least 3 months before re-applying for a personal loan.

16. How much time does Qbera take to process a loan application?

It will not take more than 10 minutes to fill up your online application form. Our technology allows us to disburse the approved loan amount within 24-48 hours.

17. Is part/prepayment allowed on my personal loan?

We do not allow part-payments. However, you can prepay your loan after completing 1 year of repayment. (Foreclosure charges: 5% + GST applicable).

18. Do I need to submit any collateral to get a personal loan from Qbera?

All personal loans offered by Qbera are unsecured. Hence, you need not submit any assets or property to secure a loan.

Interest Rate & Other Charges

Interest Rate
11.99% to 35.99%
Processing Fee
1% to 5% of total loan amount
Loan Amount
₹1,00,000 to ₹15,00,000
Loan Tenure
12 to 60 months
Getting a Qbera Smart Loan is Simple
Fill out our online application form
Step 1: Online Application Form
Get approved instantly
Fill out our online application form by answering a few questions about yourself, your employment, your education, expenses and needs. This process would take no longer than 10 minutes.
Connect your Bank Account
Step 2: Connect bank account
Submit your bank statements
Connect securely to your bank via netbanking and submit bank statements as part of the easy loan application form. Alternatively, you can upload bank generated pdf bank statements.
Select your loan term
Step 3: Loan term
Choose your Loan Term
Using our proprietary Credit Scoring Algorithm we determine your loan eligibility in real-time. Our algorithm uses the information about you, to determine your future potential and help you get the best rate instantly.
You’re done! Get the money in your Bank Account as early as tomorrow.
Example: A loan offer of ₹2 lac, for a tenure of 3 years at an interest Rate of 16.6% (on a reducing principal) and a processing fee of 2.5%. Translates to:
  1. Processing Fee deduction of ₹5000 (2.5% of 2 Lacs) from loan amount, thus, the amount credited to your account will be ₹1.95 Lacs
  2. EMI of ₹7091 per month
  3. Total payable amount in 3 years = 36 times ₹7091 = ₹2,55,276
  4. Total Interest paid in 3 years = ₹55,276, hence, annual interest paid = ₹18,425 (which translates to an effective flat annual rate of interest of 9.21%)
Repaying a Qbera Smart Loan is just as Simple
Repay your loan with automatic EMI payments.
  • Age: 21-57 years old
  • Net Monthly Income must be more than Rs. 18,000.
  • No defaults in the last 24 months.
  • Aadhaar Card
  • PAN Card
  • Current Address Proof


"I am really happy that I got a loan from Qbera. My application has been rejected by lenders in the past without giving any explanation for rejection. Qbera approved my loan with minimum documents. Thanks a lot once again."



"I would like to thank Qbera for speedy loan processing. I was having a tough time in deciding which bank would actually take my request for a loan as the loan was supposed to be for credit card payoff. I was forced to use my credit card for an unforeseen expense which I could not avoid and was finding it tough to pay back due to the high interest cost on credit cards. I did not want to make many enquiries as many requests can lower the CIBIL score. I contacted Qbera on a Monday and by evening itself they had an offer for me. They kept me informed through every step of the process and were also flexible with regards to my commitments. In the end, the loan was disbursed within two days of documents submission. Thank you Qbera for simplifying the process and helping me find a loan. " Show more...



"It was a nice experience with Qbera. I have never seen such an easy process for getting a loan, especially when you need it the most. Thank you Qbera for your support."



"I had a hassle-free experience with Qbera. It was a very easy application procedure and in a short span of 3 days I got my loan credited to my account. Thank you so much for the support Team Qbera"



"It was very easy to get a loan from Qbera. I just applied on their website and got a confirmed offer immediately. The amount was transferred soon after. Will give it 5 out of 5"



"It's good and quick response from the Qbera team to get the loan. They are very good at the communicating the things properly and appropriately"

Are you ready to get your Qbera Smart Loan?
Apply Now


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We are a Bangalore-based company offering digital, quick, hassle-free personal loans to people when they need them.

Loan amounts range from Rs.1,00,000 to Rs.15,00,000. APR ranges from 11.99% to 35.99%. Loan lengths range from 12 to 60 months. Administration fee ranges from 1% to 5%.

* Subject to Risk Profile

Need Help?
Contact our support team via WhatsApp by clicking below:

E-mail: contact@qbera.com
Phone: 1800 4198 121
Whatsapp:+91 72080 56906
2nd Floor, Featherlite Vista Building,
MV Jayaram Road,
1st Main, Vasanth Nagar.
Bangalore 560 052

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