Ludhiana, the vibrant city known for its industrial prowess and bustling streets, is also home to a thriving used car market. Whether you are a first-time buyer or looking to upgrade your current vehicle, buying a used car in Ludhiana can be an exciting yet daunting experience. However, with the right knowledge and financial tools at your disposal, you can navigate this market with ease. One such tool that can help you make your dream of owning a used car a reality is a used car loan.
Getting a used car loan in Ludhiana has become incredibly easy, thanks to the streamlined procedures introduced by well-known financial institutions. Bajaj Finance, one of the leading NBFCs offers used car loans with straightforward eligibility criteria and a hassle-free application process. Read on to learn more about the features of Bajaj Finserv Used Car Loan, its eligibility requirements, and how to apply.
Features and benefits of used car loans in Ludhiana
- Quick disbursal facility
Get the funds that you need within 48 hours* of approval with Bajaj Finserv Used Car Loan. Our fast disbursal facility ensures that you bring home your desired vehicle without any delay. - Substantial loan amount
With Bajaj Finserv Used Car Loan, you can get up to Rs. 1.02 crore. This high-value loan allows you to fund the purchase of your preferred car with ease. - Flexible repayment tenures
Repayment of your used car loan is easy. You can spread the cost of your car over a period of up to 84 months. - Doorstep assistance facility
Choose our doorstep document collection facility for a hassle-free process. Submit your documents to our representative from the comfort of your home. - Flexi Loan variants
Choose our unique Flexi Loan facility for additional benefits. You can withdraw money when you need from the pre-assigned limit and part-prepay your loan at no extra cost.
Eligibility criteria and required documents for used car loan in Ludhiana
Qualify for Bajaj Finserv Used Car Loan is easy. You can simply meet these basic eligibility criteria.
- You should be a resident Indian aged between 18 to 80*
- Your CIBIL Score must be 700 or higher.
- If you are a salaried individual, you should have at least 1 year of experience and a minimum monthly salary of Rs. Rs. 20,000.
- If you are a self-employed individual, you must submit an ITR proof of the last 2 years.
*Higher age limit is applicable at the time of loan maturity.
Once you fulfil these above-mentioned parameters, you have to submit a few documents. These documents include PAN card, KYC documents, bank statements, salary slips and more.
Used car loan interest rates in Ludhiana
Securing a used car loan in Ludhiana can be a straightforward process, but it is essential to understand that interest rates may differ among lenders. Several factors influence these rates, including your credit score, loan amount, and chosen repayment period. To ensure you get the best deal, it is important to compare interest rates from various financial institutions. Bajaj Finance offers used car loans with competitive rates, and you can find detailed information on our fees and charges page.
With online tools like EMI calculator, you can evaluate your EMI amount in advance. This online tool eliminates lengthy calculations and gives you error-free results. Go to our used car loan EMI calculator page and simple enter details such as loan amount, rate of interest and repayment tenure. Knowing your EMI amount beforehand helps in planning your finances effectively.
How to apply for a used car loan in Ludhiana
Applying for a used car loan in Ludhiana through Bajaj Finance is seamless. Follow these easy steps for a hassle-free application.
- Visit our dedicated used car loan page and click 'APPLY' to access the application form.
- You will be asked to enter your mobile number and verify your details with the OTP.
- Provide your basic information, including your full name and email ID.
- If you have already chosen a vehicle, input specific details about the car.
- Review and verify your KYC (Know Your Customer) details, and if any edits are necessary, make them before submitting the form.
If required, schedule an appointment for additional verification, and upon completion, our dedicated representatives will promptly guide you through the subsequent stages of the process.
In conclusion, Bajaj Finance offers used car loans in Ludhiana with competitive rates and straightforward application procedure and makes your borrowing experience convenient.
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