Owning a car makes daily commutes comfortable and comes in handy for those who enjoy heading out to explore new places. If you are planning to buy a car, you have the option to go for a car loan to finance the purchase. Knowledge of the features and benefits of these car loans will help you to choose the right loan that fits your financial needs. Also, choosing the right loan can make a considerable difference in the repayment process.
Types of car loans
Depending on your budget, you can choose to go for a used car loan or a new car loan.
Used car loans: Used car loans help you fund the purchase of a pre-owned vehicle. With a used car loan, you may be able to purchase a higher-end vehicle for the same budget as a lower-end new car. These are also ideal if you have a specific four-wheeler brand and model that you prefer but the used car is more affordable than a new car.
New car loans: Interested in owning a new car with the latest technology? A new car loan might just be the right loan type for your needs. With new car finance, you can purchase a car of your choice from the newest range in the market. If you are a car enthusiast, budget may not be a constraint when it comes to buying the best car with the latest entertainment systems, advanced safety features, and more.
Bajaj Finance offers used car loans and new car loans with features and benefits to help you buy your desired car easily.
Top features and benefits of used car loans
Here are the key characteristics of Bajaj Finserv Used Car Loans:
- Get high-value financing up to 115% of your car’s value at competitive interest rates.
- Funds up to Rs. 1.02 crore can be available to buy a pre-owned vehicle.
- You can get the funds faster with quick approval and minimal documentation.
- It is easy for you to repay your loans as per your future plans with flexible repayment tenures of up to 84 months on used car loans.
- Used car loans from Bajaj Finance come with Flexi variants that provide facilities like multiple fund withdrawals from the approved loan limit.
Top features and benefits of new car loans
In case you decide to go for a new car, here are the features and benefits of the new car loans from Bajaj Finance:
- Get funding up to %$$NCF-Max-LTV-percent$$% of your car’s on-road price.
- You can receive a maximum loan amount of up to Rs. 10 crore with our new car loan.
- Speedy processing and approval of loans help you get the necessary funds faster.
- Repayment becomes easy for you with flexible repayment plans from 12 months to 96 months.
- You can choose from Flexi Loan variants when you apply for a new car loan. These loan variants enable you to enjoy benefits such as multiple fund withdrawals and zero charges on part-prepayments.
Whether you choose to buy a pre-owned vehicle or a new car, Bajaj Finance offers car loans with features that suit every need and budget. High-value loans and flexible repayment tenures allow you to get your preferred four-wheeler without worrying about paying for it in one go. With minimal documentation and quick approval, applying for your car loan is effortless. Doorstep documentation support to complete the loan application process further adds to the convenience of getting a car loan online.
