Welcome to Auto World

3 unique loan variants

Used car loans offer a practical pathway to owning a reliable vehicle affordably. Whether you are looking to upgrade your current vehicle or stepping into car ownership for the first time, these loans provide access to quality vehicles without financial strain. Bajaj Finance offers high-value used car loans of up to Rs. 1.02 crore that allow you to bring home your desired car with ease. Bajaj Finance offers three unique loan variants – Flexi Term Loan, Flexi Hybrid Loan and Term Loan. You can choose the variant that suits your preferences and needs.

Know all about our Flexi Loans

Imagine you've taken out a used car loan of Rs. 2 lakh for a 24-month term. After paying regular monthly instalments for six months, totaling around Rs. 50,000, unexpected expenses arise requiring an additional Rs. 50,000. Simply log into our customer portal, My Account, and withdraw this amount from your Flexi Term Loan account hassle-free.

Later, you receive a bonus of Rs. 1 lakh, and you decide to repay a portion of your Flexi Term Loan. Again, manage this conveniently through My Account, adjusting your loan balance as needed.

With our Flexi Term Loan, the interest automatically adjusts based on your outstanding balance, ensuring you only pay interest on the amount you utilize. There are no extra charges for withdrawing funds or making early repayments—this flexibility suits today's unpredictable financial needs perfectly.

We also offer a variant called Flexi Hybrid Loan, which operates similarly but includes the option for interest-only EMIs during the initial period of the loan. For the remaining part of your tenure, you pay EMIs that consist of both interest and principal.

Know all about our Term Loan

This is the same as any other used car loan. You borrow a specific amount, which is then repaid in fixed monthly instalments covering both principal and interest. If you decide to close your loan early, a part-prepayment or foreclosure fee may apply.