Deciding to purchase a car is a significant milestone which typically involves a variety of choices and factors to consider. It is important to perform thorough research to guarantee your investment matches your requirements and financial capabilities.
When looking to purchase a car, you have the choice of opting for a brand-new car or a pre-owned model. Once you have decided based on your preference, the next step is to explore financing options for your vehicle.
This is where car loans come into the picture, allowing you to distribute the expense of your vehicle across manageable monthly payments. Opting for a car loan provides you with financial flexibility, as opposed to having to pay the entire amount upfront.
Applying for a used car loan vs a new car loan depends on the kind of car you choose to go with.
Bajaj Finance offers funding options for both used and new cars, ensuring that you have the financial support you need regardless of your choice.
Features of the Bajaj Finserv Used Car Loan
- Significant loan amount: A used car loan provides high-value financing, allowing you to cover a large amount of the vehicle's cost. Bajaj Finance offers used car loans of up to 115% of the car's value. You can secure funds of up to Rs. 1.02 crore.
- Minimal paperwork: You can apply for a Bajaj Finserv Used Car Loan by submitting basic documentation such as your KYC documents, PAN card, employee ID card and more.
- Rapid disbursal: With Bajaj Finance, you can get quick disbursal of your used car loan. The amount is usually credited into the customer's bank account within 48 hours* after loan approval. This quick disbursement feature makes it possible for customers to obtain their used cars promptly.
- Affordable payback tenures: Our used car loan has flexible lending terms, allowing customers to repay their loans over a period of 12 months to 84 months.
Features of the Bajaj Finserv New Car Finance
- High-value financing: You can get asset-based financing at competitive interest rates for up to 100% of the car's value, with a limit of up to Rs. 10 crore.
- Vehicles for new passengers and taxis: Bajaj Finserv New Car Finance can cover the funding of new passenger cars, taxis, and taxi permit vehicles, providing financial assistance for diverse vehicle purchases.
- Flexible tenures: Bajaj Finance provides convenient repayment choices for new car financing, ranging from 12 months to 96 months. Borrowers can choose a duration that suits their financial situation.
- Multiple vehicle segments: You can get diverse financing options for various new vehicle segments. These include hatchbacks, sedans, crossovers, multi-utility vehicles (MUVs), sports-utility vehicles (SUVs), and more.
In conclusion, understanding the intricacies of a used car loan vs a new car loan can help buyers making smart financing choices. This ensures that their choice aligns with both their preferences and financial goals.
