Purchasing a car is often a major financial decision — whether you are buying your first vehicle or upgrading to a newer model. While new cars may be appealing, they can also be expensive. For many, a second-hand car offers better value, especially when it is well-maintained and available at a lower price.
But even with a used car, the upfront cost can be significant. That’s where a used car loan becomes a helpful financial tool. It allows you to spread the cost of your vehicle over manageable monthly instalments, without depleting your savings.
Let’s take a closer look at how used car loans work and why Bajaj Finserv Used Car Loan is one of the most convenient options available today.
What is a used car loan?
A used car loan is a secured financing option designed specifically for the purchase of a second-hand vehicle. Instead of paying the full cost upfront, the lender covers most or all of the purchase amount, and you repay it over time through EMIs (Equated Monthly Instalments).
With Bajaj Finserv Used Car Loan, you get more than just funding — you get flexibility, convenience, and a quick turnaround. The loan requires minimal documentation, comes with flexible repayment tenures and easy eligibility checks.
Need a used car loan? You could already be pre-approved! Check your pre-approved used car loan offer – Enter your mobile number and verify with OTP.
Key features and benefits of Bajaj Finserv Used Car Loan
Here’s why this loan offering stands out when you are planning to buy a pre-owned car:
1. Finance of up to 115% of the car’s value
Bajaj Finance offers asset-based financing of up to 115% of your car’s value — meaning you can finance not just the vehicle, but also registration, insurance, and other associated costs.
2. Loan up to Rs. 1.02 crore
You can borrow a substantial amount — up to Rs. 1.02 crore — making this ideal even if you are looking to purchase a premium or luxury used car.
3. Fast disbursal in just 48 hours
Once approved, the loan amount is transferred to your account within 48 hours, helping you close your deal swiftly.
You might already have a pre-approved used car loan offer waiting. Check your pre-approved used car loan offer today and move one step closer to your next car. Just enter your mobile number and verify it with an OTP to get started.
These options give you better control over your loan, especially if your income fluctuates or you expect increased earnings in the near future.
4. Minimal documentation
Forget long paper trails. Apply with basic documents such as:
- PAN card
- KYC documents
- Salary slips or ITRs
- Employee ID or business proof
- Recent bank statements
Pro Tip: Keep your documents ready in digital format to speed up the online verification process and avoid delays.
5. Transparent terms
All charges — from processing fees to foreclosure conditions — are clearly outlined in your agreement and on the official website. There are no hidden fees or surprise deductions.
Eligibility criteria for a used car loan
Meeting the basic requirements is simple with Bajaj Finance. You are eligible if:
- You are an Indian citizen
- You are aged between 18 and 80 (at the time of loan maturity)
- You have a CIBIL Score of 700 or higher
For salaried individuals:
- Minimum of 1 year of work experience
- Must meet the minimum monthly salary criteria
For self-employed individuals:
- Must submit ITR proof for the last 2 years
Check your used car loan eligibility online and get an instant estimate of how much you can borrow with ease.
How to apply for a used car loan
The process is 100% digital and can be completed in a few simple steps:
- Visit the Bajaj Finserv Used Car Finance page
- Click on ‘APPLY’
- Enter your mobile number and verify it via OTP
- Fill in your personal details, income, and car-related information
- Upload or verify your documents online
- Schedule a doorstep visit or verification call
Once your application is verified and approved, the funds are disbursed directly into your account, usually within 48 hours*.
Whether you are navigating the busy city streets or planning weekend drives with your family, a personal car brings unmatched convenience and independence. But purchasing even a second-hand car can be financially demanding.
A Bajaj Finserv Used Car Loan makes this process easier by offering high-value funding, flexible repayment plans, and fast disbursal — all backed by transparent terms and a 100% online journey. From choosing the right vehicle to driving it home, the loan simplifies every step of the way.
With quick eligibility checks and minimal documentation, this financing option is tailored for modern buyers who seek both speed and simplicity.
Check your pre-approved used car loan offer today and take the first step towards owning your next car — without worrying about upfront costs.
