Mandatory Documents
Duly filled application form, Car's registration certificate
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?
Hero FinCorp Used Car Loan Documents
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.
Salaried
Salaried applicants must submit the following documents for a used car loan. Required documents are grouped by category: mandatory forms, identity proof, address proof, age proof, job proof, signature verification, and income proof. Each category requires at least one valid document as listed below.
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 Card
Utility 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
Self Employed
Self-employed applicants including professionals (doctors, chartered accountants) and non-professionals (traders, manufacturers, retailers) must submit documents across seven categories: mandatory forms, identity proof, address proof, business/office proof, age proof, occupation proof, signature verification, and income proof. Business registration and financial statements replace the employment documents required from salaried applicants.
Mandatory Documents
Duly filled loan application form, Car's registration certificate
Identity Proof
Aadhaar Card, Driver's License, Voter ID Card, Passport
Address Proof
Driver's License, Voter ID Card, Rent or Lease Agreement, Utility Bill, Aadhar Card, A letter having Name & Address Details Issued by the National Population Register
Business/Office Proof
VAT Registration, Sales Tax Registration, Excise Registration, Service Tax Registration Certificate, SSI or MSME Registration Certificate, Shop & Establishment Registration Certificate
Age Proof
Birth Certificate, PAN Card, Driver's License, Passport
Occupation Proof
VAT, Sales Tax Registration, SSI or MSME Registration Certificate, Shop & Establishment Registration Certificate
Signature Verification Proof
PAN Card, Banker's Verification, Passport
Income Proof
Profit & Loss Statement, Recent ITRs, Audited Balance Sheet, Current Account Statement
Note: In addition to the above, we may request further documents based on your credit history and vehicle condition.
Frequently Asked Questions (FAQs)
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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