Mumbai, the heart of India, teems with life, culture, and commerce. From the iconic Gateway of India to the streets of Bollywood, Mumbai captures a vibrant blend of diversity and dynamism. Its legendary local trains, dabbawalas, and vibrant street food culture add layers to its charm, making it a city like no other.
Owning a car is not just a convenience but a necessity in navigating the city's crowded streets and ever-evolving infrastructure. However, the high cost of new vehicles often prompts individuals to explore the option of purchasing a used car. This brings into focus the importance of used car loans in Mumbai.
Used car loans provide a lifeline for individuals looking to purchase pre-owned vehicles without straining their finances. Bajaj Finance offer used car loans in Mumbai with a number of benefits.
Here are the benefits of applying for Bajaj Finserv Used Car Loan in Mumbai
- Substantial finance: Obtain funds up to 115% of your car's worth at affordable interest rates with our asset-based financing.
- Large loan amount: Get up to Rs. 1.02 crore to purchase a used car without worrying about your budget.
- Quick disbursal: Receive funding within 48 hours* after loan approval, allowing you to purchase the car of your choice.
- Convenient tenures: Spread the cost of your used car over a convenient time frame of up to 84 months.
- Flexi variants: Our Flexi Loan offers numerous fund withdrawals and part-prepayment options, all at no additional costs.
- Pre-approved offers: Customers can check pre-approved used car loan offers by inputting their mobile number and OTP.
Eligibility criteria for our used car loans in Mumbai
You must meet the following criteria to qualify for our used car loan:
- Nationality: Indian
- Age: 18 to 80 years*
- CIBIL Score: 700 or higher
- Employment:
- For salaried: Individuals should have at least 1 year of experience and a minimum monthly salary of Rs. 20,000minimum monthly salary of 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.
Additional read: how to calculate your used car loan eligibility
Used car loan interest rates in Mumbai
The borrower's creditworthiness, the loan amount, and the tenure are some factors that affect interest rates on used car loans in Mumbai. Bajaj Finance offers used car loans at reasonable interest rates. Click here to know more about used car loan fees and charges.
How to apply for a used car loan in Mumbai
Applying for a used car loan in Mumbai is a straightforward process:
- Go to the used car loan page and click on ‘APPLY’.
- Enter your mobile number and submit the OTP.
- Fill in your personal details including your full name, mobile number, email ID, and more.
- Enter the details of the car such as the make, model, and colour.
- Verify or update your KYC details and proceed to schedule an appointment for further verification.
Our representative will connect with you to guide you on further steps.
Second-hand car loans in Mumbai play a pivotal role in facilitating affordable and convenient vehicle ownership. Bajaj Finance offers used car loans with simple eligibility requirements, making it easy to secure a pre-owned car in Mumbai.
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