Hero FinCorp, an NBFC established in 1991 and headquartered in New Delhi, registered with the RBI in the NBFC class, offers a used car loan with interest rates ranging from 11.5% to 26%. The loan amount ranges from ₹50,000 to ₹50 lakh, with tenure between 12 and 72 months.
Co-applicant income clubbing is permitted, and for loans refinancing an existing car loan from another lender, financing of up to 200% of the car's value is available. Required documentation includes photo ID, address proof, age proof, income proof, employment or business proof, and signature verification. Rate type, processing fee, prepayment penalty, minimum CIBIL score, and borrower age and salary requirements are not published for this product.
At 11.5%, Hero FinCorp has one of the lowest starting rates of the 9 lenders we track for used car loans.
As published by Hero FinCorp. Your branch may ask for more.
A used vehicle is riskier collateral and depreciates faster, so lenders price the rate higher and finance a smaller share of the value. NBFCs often approve older cars and thinner files that banks decline.
Every row is date-stamped with the day we last checked it, and links to the lender’s published material so you can confirm it yourself. A row we confirmed against the source reads “Verified”; one we could only sight reads “as of”, and is not presented as confirmed. Anything we have not re-checked in 60 days is marked “rate under review” rather than left to look current. We do not claim a fixed re-checking cycle — the date on each row is the honest answer.
No. Viewing rates is not a credit enquiry and has no score impact. A hard enquiry happens only when you formally apply to a lender.