Financing
Plan your used-car loan before you make an offer. autobids is a marketplace, not a lender, so we help you work out what you can afford and what to ask a lender.
EMI calculator
- Monthly EMI
- ₹25,045
- Total interest
- ₹2,42,182
- Total payable
- ₹14,42,182
Green: loan amount. Red: interest.
Default rate: average of published used-car loan rates from three major banks, as of 24 Oct 2026. Your rate will differ. This is a calculation, not a loan offer.
How financing a private-sale car works
Get pre-approved first
Ask your bank or an NBFC for an in-principle approval for a used car. Knowing your limit stops you offering past it.
Loans on private-seller cars
Lenders usually value the car themselves and may lend less than the price. Confirm with your lender that they finance private-party purchases.
Hypothecation
The lender's name goes on the RC until the loan is repaid. This adds a step at transfer, so allow extra time.
Seller with an existing loan
The seller must close their loan and get Form 35 and a bank NOC before the car can be transferred.
Before you apply
- Check your credit score and clear any overdue payments.
- Keep your PAN, address proof, income proof and bank statements ready.
- Ask about the processing fee, foreclosure charges and the maximum age of car the lender funds.
- Remember the autobids fee is part of the price shown, so include it in the amount you budget.