When you plan to buy a car, arranging funds and getting a suitable interest rate are common concerns. Many people also ask a simple question: do you need a driving licence to get a car loan? The answer is usually no. A driving licence is not always required to apply for a car loan, but it is necessary if you want to drive the financed car legally.
If you are at the early planning stage, it helps to know your loan position before you go too far into model comparisons. You can check your pre-approved new car loan offer to see whether you already have an offer, which can make the next steps more structured.
Driving licence and car loans
Most car loans do not require a driver's licence. To drive the car legally you are financing, you must have a valid driver's licence in your state. In addition, you will need car insurance, which usually requires a valid driver's licence.
Can you finance a car without a licence?
While you may be able to get a car loan without a driver's licence, this is not guaranteed. Most lenders will request some type of verification, such as a government-issued ID, to verify your identity. A driving licence can be one of the identity proofs. In case you do not have a driving licence, you can provide another valid document as proof of identity.
To apply for new car finance with Bajaj Finance, applicants must be Indian citizens meeting the age criteria. Salaried and self-employed individuals need to meet certain parameters. You will need KYC documents, a PAN card, employee ID card, salary slips for the last three months, and bank account statements from the previous three months. Additional documents may also be necessary during the application process. You should also have a good CIBIL score.
To qualify for a used car loan, applicants must be Indian citizens with age as per the eligibility criteria. They must have a CIBIL Score of 650 or higher, and meet employment criteria, such as a minimum monthly salary or ITR proof. Required documents include KYC documents and a PAN card. Other necessary documents include employee ID card, salary slips, and bank account statements. You will also need vehicle registration and insurance copies.
How to get a car loan without a licence
A valid driving licence is a KYC document that you can choose to provide while applying for a car loan from Bajaj Finance. If you do not have a driving licence, you can provide other KYC documents. These documents include Aadhaar, passport, voter ID, or a letter from NPR/ NREGA job card.
Bajaj Finance offers new car loans with financing of up to Rs. 10 crore for purchasing a new car. You can obtain asset-based financing at competitive interest rates. And you get to choose flexible tenures ranging from 12 months to 96 months.
You can get used car loans of up to 100% of the car's value from Bajaj Finance. Enjoy competitive interest rates and flexible tenures up to 84 months. Get funds of up to Rs. 2.50 crore and have the loan amount credited to their account within 48 hours* of approval.
If you are planning to buy your new car, it is also useful to know your eligible borrowing range first. Check your new car loan eligibility and find out how much you can borrow.
To conclude, a driving licence is not always required to apply for a car loan, as lenders mainly need valid identity proof for KYC. However, you will need a valid driving licence if you plan to drive the car you finance. Planning both parts early keeps the purchase smooth and legally compliant.
Why choose Bajaj Mall for your car purchase
When you are comparing cars, it helps to start with a clear shortlist that fits your budget and monthly plan. Bajaj Mall makes this simpler because you can browse models online, compare variants, and check key details in one place. This reduces the need to visit multiple dealerships and helps you align your car choice with affordability from the start.
Once you finalise your preferred car, financing can be completed smoothly with the Bajaj Finserv New Car Loan. It offers:
- Up to 100% financing of the on-road price
- Competitive car loan interest rates
- Flexible repayment tenures
- Quick approval and minimal documentation
You can also plan your monthly instalments using the car loan EMI calculator, which helps you choose an EMI that stays comfortable while you manage other regular expenses.
With Bajaj Mall, comparing and booking your preferred car becomes more straightforward, while the Bajaj Finserv New Car Loan supports a smoother purchase journey.
If you want to move ahead without delays, you can check your pre-approved new car loan offer and take the next step when you are ready.
