In the northeastern state of Manipur, where picturesque landscapes merge with vibrant cultures, the necessity of owning a vehicle is undeniable. However, for many residents, the prospect of purchasing a brand-new car may seem financially daunting. This is where used cars emerge as a cheaper alternative. Though, it is cost-effective but still requires a huge sum of money. This is where used car loans come into play, offering a viable solution to acquire a vehicle without breaking the bank.
Obtaining a used car loan in Manipur has become remarkably straightforward, courtesy of the simplified procedures facilitated by prominent financial institutions. Among these, Bajaj Finance, a leading Non-Banking Financial Company (NBFC) offers used car loans that come with simple eligibility criteria and a hassle-free application process.
Keep reading to discover more about the features of Bajaj Finserv Used Car Loan, its eligibility requirements and application process.
Features and benefits of used car loans in Manipur
- Quick disbursal facility
With our used car loans, you can get the funds you need within 48 hours* of approval. This quick access to funds ensures that you bring home your dream car without any delay. - High-value loan amount
Bajaj Finance offers high-value used car loans. You can get up to Rs. 1.02 crore and finance your used car purchase with ease.
Flexible repayment tenures
Our used car comes with flexible repayment tenure options. You can spread the cost of your car over a period of up to 84 months.
- Doorstep assistance facility
Our doorstep document collection facility makes your application process hassle-free. You can submit your documents to our representative without stepping out of your home. - Flexi Loan variants
Choose our unique Flexi facility for additional features. Withdraw funds multiple times from the pre-assigned limit and part-prepay your loan at no additional cost.
Eligibility criteria and required documents for used car loan in Manipur
You can qualify for Bajaj Finserv Used Car Loan by fulfilling simple eligibility criteria for used car loan and minimal paperwork. Fulfil these basic parameters to qualify for our used car loan.
Nationality: Indian
Age: 18 to 80*
CIBIL Score: 700 or higher
For salaried: Individuals should have at least 1 year of experience and a minimum monthly salary of Rs. Rs. 20,000.
For self-employed: Applicant must submit an ITR proof of the last 2 years.
*Higher age limit is applicable at the time of loan maturity.
As part of the application process, 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 Manipur
When considering second-hand car loans in Manipur, it is important to understand that interest rates may vary from lenders to lenders.
There are several factors that affect your used car loan interest rates. These include your credit score, loan amount, and chosen repayment period.
In order to secure the best deal, it is advised to compare interest rates offered by different financial institutions. Bajaj Finance offers used car loans that come with competitive interest rates. You can visit our fees and charges of used car loans page to know more about our interest rates and other related charges.
In order to make an informed decision, you can also use online tools like EMI calculator. This online tool eliminates lengthy calculations and helps you to evaluate your EMI amount in just a few clicks. You can go to our used car loan EMI calculator page, input details like loan amount, interest rates, and repayment tenure and get the results instantly. Knowing your EMIs beforehand will help you in making an informed decision and plan your finances accordingly.
How to apply for a used car loan in Manipur
Availing of second-hand car finance in Manipur through Bajaj Finance is a breeze, thanks to our straightforward application process. Here is a step-by-step guide on how to apply for Bajaj Finserv Used Car Loan:
- Visit our dedicated used car loan page and click on the 'APPLY' button to access the application form.
- Enter your mobile number and complete the verification with the OTP.
- Complete the application form by providing your basic information, including your full name, email ID, and more.
- If you have already chosen a vehicle, furnish specific details about the car.
- Review and verify your KYC (Know Your Customer) details. If any modifications are necessary, you can make them before proceeding.
- If required, schedule an appointment for additional verification and submit the form.
Upon completion of these steps, our dedicated representatives will promptly reach out to guide you through the subsequent stages of the process.
In conclusion, Bajaj Finance offers a seamless solution for securing used car loans in Manipur. With basic eligibility criteria, competitive interest rates, and a hassle-free application process, Bajaj Finance simplifies borrowing for you.
