Second Hand Auto Rickshaw on EMI in India – Easy Finance, Low Down Payment & Ownership Guide
Planning to start your own income source with an affordable vehicle? A second hand auto rickshaw on EMI can be a practical option for drivers who want low investment and flexible monthly payments. With rising fuel costs and urban demand for local transport, used auto rickshaws are becoming a popular self-employment choice across India.
Whether you are buying for commercial use or expanding your fleet, understanding financing options, documentation, and repayment terms is important before making a decision.
Why Choose a Second Hand Auto Rickshaw?
Buying a used auto rickshaw reduces upfront cost compared to a new vehicle. It allows drivers to start earning immediately without heavy financial pressure.
Key advantages:
- Lower purchase price
- Smaller down payment
- Faster loan approval
- Immediate income opportunity
- Lower depreciation compared to new vehicle
Many buyers prefer used autos because they are budget-friendly and easily available in both petrol, CNG, diesel, and electric variants.
Popular Second Hand Auto Rickshaw Brands in India
Bajaj Auto
Bajaj auto rickshaws are widely used for commercial passenger transport. Known for durability and fuel efficiency.
TVS Motor Company
TVS King series autos are popular for smooth performance and comfortable seating.
Mahindra & Mahindra
Mahindra offers diesel and CNG auto rickshaws with strong build quality and good mileage.
Piaggio Vehicles Pvt Ltd
Piaggio Ape auto rickshaws are commonly used for both passenger and cargo purposes.
Price Range of Second Hand Auto Rickshaw in India
| Type | Approximate Price Range |
|---|---|
| Petrol Auto | ₹80,000 – ₹1,40,000 |
| CNG Auto | ₹1,00,000 – ₹1,80,000 |
| Diesel Auto | ₹90,000 – ₹1,60,000 |
| Electric Auto | ₹1,20,000 – ₹2,00,000 |
Prices vary depending on model year, condition, engine performance, and city registration.
EMI Options for Used Auto Rickshaw
Most NBFCs and vehicle finance companies offer loans for second hand auto rickshaw purchase.
Typical Loan Details:
- Loan Amount: Up to 70%–85% of vehicle value
- Interest Rate: 12%–22% (depends on credit profile)
- Tenure: 12–36 months
- Down Payment: 15%–30%
Example EMI Calculation
If you purchase a used auto worth ₹1,20,000:
- Down payment: ₹25,000
- Loan amount: ₹95,000
- Tenure: 24 months
- Approx EMI: ₹4,800 – ₹5,200 per month
(EMI varies depending on lender and interest rate.)
Documents Required for EMI Approval
To apply for second hand auto rickshaw finance, you generally need:
- Aadhaar card
- PAN card
- Driving license (commercial)
- Address proof
- Bank statement (3–6 months)
- Passport size photos
- Vehicle RC copy
Approval time is usually 2–5 working days.
Step-by-Step Buying Guide
1. Check Vehicle Condition
Inspect engine performance, mileage, tyre condition, suspension, and body frame.
2. Verify RC & Documents
Ensure registration certificate, insurance, and pollution certificate are valid.
3. Compare Loan Offers
Check interest rate, processing fee, and foreclosure charges.
4. Calculate Monthly Income vs EMI
Make sure daily earnings can comfortably cover EMI payments.
5. Transfer Ownership
Complete RTO transfer process after purchase.
Income Potential from Auto Rickshaw
Average daily earnings depend on city and working hours.
| City Type | Estimated Daily Income |
|---|---|
| Metro Cities | ₹1,200 – ₹2,500 |
| Tier 2 Cities | ₹800 – ₹1,800 |
| Small Towns | ₹600 – ₹1,200 |
Monthly income can range between ₹18,000 to ₹45,000 depending on demand and fuel cost.
Tips Before Taking Loan
- Check total interest payable
- Avoid very high processing fees
- Maintain good repayment record
- Choose fuel-efficient model
- Consider electric auto for lower running cost
Final Thoughts
Buying a second hand auto rickshaw on EMI in India can be a smart and affordable way to start a transport business. With low down payment options and flexible loan tenures, many drivers are choosing used autos to generate steady monthly income.