Despite numerous research efforts, vehicular networks strive to provide primary facilities for the Internet of Vehicles (IoVs), which are higher data rates, robust connectivity, scalability, security, and privacy facets. In this paper, we proposed a decentralized approach SecEdge to efficiently integrate the Vehicular Cloud’s (V-cloud) concept with the idea of edge-computing in IoV that consider Roadside Connecting Nodes (RSCNs) as an intelligent edge. Furthermore, the heterogeneity and highly dynamic network structure of IoV raise many security and privacy issues while designing the hybrid approach. SecEdge focuses on secure inter-vehicle/intra-vehicle communications using one-way hash functions and secure storage/retrieval of data in/from the upper layer of the architecture. Thus, the system becomes more reliable, safe, and scalable for the drivers as well as the passengers. By providing secure data storage, we can overcome the data leakage problem that occurs due to side-channel attacks and weak security parameters. The qualitative and quantitative analysis depicts that the SecEdge has reduced the computation cost and energy consumption by up to 75% to other state-of-the-art methods. The security analysis provides the formal security proof based on the Random Oracle Model (ROM) and ProVerif tool that shows the security strength in terms of privacy preservation, location tracing, and revocation along with the different security attacks such as man-in-the-middle attack, impersonation, denial-of-service attack, repudiation, replay attack, modification, etc.