Choosing to upgrade your vehicle with a pre-owned car loan can prove to be an economical and intelligent choice. Pre-owned cars present a compelling option, considering the reduced cost after depreciation. However, not everyone may have the required funds readily available to make a car purchase on short notice.
In such situations, opting for a pre-owned car loan can provide a practical financing solution. A pre-owned car loan allows you to spread the cost of the vehicle in small monthly instalments over a period of time.
Bajaj Finance offers used car finance with simple eligibility criteria, making it a preferred choice for a wide range of customers.
Here are four benefits of a pre-owned car loan:
- High-value financing
A pre-owned car loan offers high-value financing, allowing you to secure a significant portion of the car's cost. This ensures that you can drive home your desired pre-owned car without compromising on other financial commitments. Bajaj Finance offers used car loan of up to 115% of the car's valuation. You can secure funds up to Rs. 1.02 crore.
- Minimal paperwork
Simplified paperwork ensures that you can focus on selecting the right car rather than getting caught up in tedious documentation procedures. You can apply for a used car loan by submitting documents such as your KYC documents, PAN card, employee ID card and more.
- Quick disbursal
Since the car's value is already established, lenders can expedite the loan approval, making it possible for you to purchase the car in a relatively short span of time. This quick disbursal is particularly beneficial when you come across a good deal or need a car urgently.
Bajaj Finance ensures that the loan amount is deposited into the customer's bank account within 48 hours* after loan approval. The speedy disbursal facility enables customers to acquire their second-hand cars promptly, without any delay. - Affordable repayment tenures
Pre-owned car loans offer the advantage of flexible loan tenures, allowing you to choose a repayment period that aligns with your financial capabilities and preferences. With flexible tenures, you can opt for a shorter loan duration to repay the loan quickly or opt for a longer tenure to enjoy lower monthly instalments.
Our used car loan offers flexible loan tenures, giving customers the freedom to repay their loans over a period of 12 months to 84 months.
Additional read: Tips to get low interest rate for a used car loan
We also offer used car loans with additional Flexi benefits. If you choose this option, a loan limit is assigned to you from which you can withdraw funds as and when you need. However, you only pay interest on the amount you borrow. You can also part-prepay your loan as many times as you want at no extra cost.
You can read more about the benefits of a pre-owned car loan by following this link to our used car loan page.
*Terms and conditions apply
