Qbera Open Nav
Simple . Fast . Secure

Qbera Used Car Loan

Simple, Fast & Secure!
Apply now!
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

A car of your own would increase the quality of your life exponentially, right? No more haggling with auto drivers first thing in the morning, no hoping that the Uber Pool will not have anyone to share the drive, making it that much longer to get home after a long day at work. Your own car would mean that you don’t have to depend on anyone while trying to get from point A to B. It would also make you look that much cooler among your friends and responsible among the elders. Finally, having your own car is a huge step in life. After all the time and effort you have put in at work, you deserve a little self-pampering right? The only problem is that purchasing a car is no small buy. The total cost can come up to quite an amount, especially if you go for a brand new car. Many experts suggest that buying a second hand car is a wiser investment because cars depreciate so quickly, and the depreciation is steepest in the first few years. That means that if you buy a second hand car, you will be missing out on this steep depreciation. In addition, second hand cars are much cheaper than first hand cars. That means that you won’t be burning a huge hole in your pocket to have your own car. With Qbera’s personal loan, your dream of owning your very own car is not only within reaches, but very simple as well. 

Used Car Loan Eligibility Criteria

You are eligible for a Second Hand Car Loan from Qbera if:

  • You are employed and earning a minimum of ₹20,000.
  • You are between 23 and 55 years.
  • Have a credit score of minimum 625.

Documents required for Second Hand Car Loan after digital approval

  • PAN card
  • Aadhar card
  • Current Address Proof
  • Permanent Address Proof (in case the permanent address is different from the address on Aadhaar card)
  • 4 Cheques from your Salary Account

Used Car Loan Interest Rate

  • The used car loan interest rate that we charge ranges from 11.99% to 24%.
  • The exact amount depends on certain factors such as your ability to pay back, history of past repayments, work experience, credit score, profession and age.

How to Apply for a Used Car Loan

Getting a personal loan for a used car is an easy process that will take too little of your time. Here's how you can apply for a used car personal loan:

  1. Login to the Qbera website and fill out necessary details. Choose your loan amount, the purpose of your loan, etc. - this should take you just about 5 minutes to complete. 
  2. Provide your bank statements by providing your netbanking details via a secure channel. 
  3. You will subsequently receive a customized loan offer within 4 hours. Your loan offer will depend on various parameters including your income, current credit liabilities and your credit score. 
  4. If required, a representative from Qbera will come and collect your documents. Note that this doesn't happen in every case. If your credit score is good and other parameters of your profile are satisfactory as well, physical collection of documents will not be necessary. 
  5. Once you receive a final approval from Qbera, you will receive the loan amount to the beneficiary account within 24 hours. 

Features & Benefits of Used Car Loan

  • Collateral free loans
    Qbera offers collateral-free unsecured personal loans to salaried individuals. No asset or valuable needs to be pledged in order to secure the loan. 
  • Quick and digital processing
    The application process for a Qbera used car loan is quick and hassle-free, and the entire process can be completed online. Documents and address are verified digitally, therebyt greatly reducing turnaround time. The loan application process can be completed in under 5 minutes. 
  • Up to 100% financing
    Qbera will fund almost the entire value of your vehicle, depending on your income, credit score and other eligibility parameters. Qbera offers instant loans for used cars of up to Rs. 10 lakh, depending on your income level and monthly repayment liabilities. 
  • Choose your loan tenure
    You can choose a tenure from 12 months to 60 months. Depending on your loan amount and your repayment capacity, you can opt for longer tenures if you want to have lower monthly repayments, and shorter tenures if you want to lesser interest with higher repayments. 
  • Same day loan processing
    Your loan will be processed on the same day after you apply, submit your documents, and receive approval. Note that after your final approval, the amount will reach your registered bank account within 24 hours.  
  • Transparency
    The loan application process is transparent from start to end. All charges including the interest rate on your loan, monthly repayment amount and other charges including processing fees and administrative fees will be made known to you, with no information being hidden. 
  • Top-quality customer service
    Qbera's customer support staff is available between 10:00AM and 6:00PM IST on weekdays, and between 10:00AM to 1:00PM on weekends. Our staff can be reached via whatsapp at +91 89719 28484, by chat on the website or through email via [email protected] 
  • Confidentiality of information provided
    Qbera ensures that all the information provided by you isn't shared with anybody. Moreover, Qbera uses enhanced security frameworks to ensure that information you provide is safe and secure in every possible way. 
  • Credit score threshold
    You can apply for a personal loan to purchase a used car even with a low credit score of 600. 

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


Powered by InCred

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: [email protected]
Phone: 1800 4198 121
Whatsapp:+91 72080 56906
2nd Floor, Featherlite Vista Building,
MV Jayaram Road,
1st Main, Vasanth Nagar.
Bangalore 560 052

© 2021 Qbera | All Rights Reserved