Learn about the parameters you need to meet to qualify for a Used Car Loan from Bajaj Finance.
The market for second-hand cars has witnessed significant growth over the last few years. This is primarily driven by various factors including affordability, improved quality, and a wide range of options available to consumers. With the increasing demand for pre-owned vehicles, financial institutions have introduced tailored loan products to facilitate the purchase of second-hand cars. With a second-hand car loan, you can easily spread the cost of your second-hand vehicle into small monthly instalments.
With the advancement of digitisation, the process of applying for a used car loan or second-hand car loan has become simpler and more convenient. However, understanding the eligibility criteria and necessary documents before applying is crucial. Bajaj Finance, one of India’s largest NBFCs, offers used car loans with simplified eligibility criteria and minimal documents.
You can easily qualify for Bajaj Finserv Used Car Loan if you meet some basic parameters. These include being an Indian citizen aged between 18 to 80* years with a CIBIL Score of 720 or higher. If you are a salaried individual, you should have a minimum experience of 1 year and must meet the required monthly income criteria. However, if you are a self-employed individual, you must provide proof of income tax returns for the last 2 years.
Apart from fulfilling these basic eligibility parameters, you are required to submit just a few documents to get approval. These documents include PAN card, KYC documents, employee ID card, salary slips, bank account statements and more.
In addition to these simple eligibility parameters and minimal documentation, Bajaj Finance offers used car loans with a host of additional benefits.
High-value loan: Bajaj Finance offers a high-value used car loan of up to Rs. 77 lakh. This substantial loan amount provides you with the flexibility to buy a car of your choice without compromising on the budget.
Quick disbursal: Bajaj Finserv Used Car Loan comes with a quick disbursal facility that provides you with quick access to funds. You can get the funds you need within 48 hours* of approval and can bring home your desired vehicle without any delay.
Hassle-free application process: Bajaj Finserv Used Car Loans come with a simple application process that makes your borrowing experience hassle-free. You can simply navigate to the used car loan page on the website and fill out the application form. You will be asked to share a few basic details and once you submit the form, a representative from Bajaj Finance will reach out to you for further assistance.
To make your application process further hassle-free, Bajaj Finance offers a doorstep document collection facility. With this facility, you can get the benefit of submitting your documents from the comfort of your home.
Flexible tenures: Bajaj Finance provides flexible repayment tenures of up to 72 months. This loan repayment tenure allows you to spread the cost of your car into small manageable monthly instalments. You can choose a repayment period as per your convenience and manage your loan repayment with ease.
If you are looking for a quick financial solution without a cumbersome process, the Bajaj Finserv Used Car Loan is an ideal option for you. You can access high-value financing at competitive interest rates by fulfilling simple eligibility criteria and submitting just a few documents.
Bring your desired car home without delay—apply for a used car loan today!
*Terms and conditions apply
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