Documents Required For Used Car Loan.
Why carry a bunch of papers when Hero FinCorp can approve a used car loan with just a few basic documents?
Have These
Documents Ready.
At Hero FinCorp, we don't like keeping you waiting too long to get behind the wheel of your dream car. Hence, we have kept the documentation process for a used car loan as simple as possible. You only need to submit your KYC and income documents, along with a few other papers. If everything checks out during verification, the funds will be transferred to the used car seller’s account within a short time. However, before you proceed, remember that the documents required for a used car loan differ for salaried and self-employed individuals.
Note: In addition to the above, we may request further documents based on your credit history and vehicle condition.
- • Mandatory Documents: Duly filled application form, Car's registration certificate
- •Identity Proof: Aadhar Card, Voter ID Card, Driver's License, Passport, Photo ID Card issued by GOI, Job Card issued by NREGA
- •Address Proof: Driver's License, Voter ID Card, Aadhar CardUtility Bill/ Rent or Lease Agreement, A letter having Name & Address Details Issued by the National Population Register
- •Age Proof: Birth Certificate, PAN Card, Driver’s Licence, Passport
- •Job Proof: Form 16, ITR, Appointment Letter, Salary Slip with Joining Date on it, Relieving Certificate, Experience certificate
- •Signature Verification Proof: Banker's Verification, PAN Card, Passport
- •Income Proof: Latest Salary Slips, Form 16, Bank Account Statement, ITR
Frequently Asked Questions.
The registration certificate informs your lender whether the vehicle you are purchasing is legitimately owned by the seller or if it was stolen. If the car in question lacks this document, your used car loan will not be approved.
In addition to the registration certificate, lenders typically require the following vehicle-related documents for a used car loan:
Car Insurance Papers - confirms active coverage on the vehicle
Road Tax Receipt - unpaid road tax can result in penalties for the buyer
Pollution Under Control (PUC) Certificate - validates emissions compliance
Service Record Book - helps assess the vehicle's maintenance and condition history
The used car loan processing time depends directly on the completeness and accuracy of submitted documents. Applications with all required documents correctly filled are processed faster. Common reasons for delays include: an incorrectly completed application form, missing or mismatched KYC documents, or incomplete income proof. Ensuring all documents are in order before submission reduces processing time significantly.
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