When it comes to buying a car, most of us prefer a shiny new car that comes with all the latest features. However, buying a new car may not always a feasible option for everyone, especially given the high price tag. This is where a second-hand car comes into the picture as it is a cheaper alternative.
Second-hand cars are an appealing option given that the price of the vehicle has already depreciated over time. Even though it is a cost-effective alternative, buying a second-hand car still may require a large sum of money, which might not be readily available.
In such cases, obtaining a second-hand car finance becomes a viable option. This financing option allows you to divide the vehicle's price into reasonable monthly payments over a pre-defined tenure.
Bajaj Finance offers used car loans with quick approval and pre-approved offers, making it easier for customers to purchase their dream car.
Here are five key reasons why choosing second-hand car finance can be a smart decision:
- Enhances financial flexibility
Opting for second-hand car finance allows you to manage fund deficits effectively. By choosing a used car, you are already benefiting from a lower initial cost, which means the loan amount you require will be more manageable. This is particularly advantageous when unexpected financial obligations arise, as you will not find yourself stretched thin due to high monthly loan payments. Second-hand car finance enables you to balance your immediate needs with your long-term financial stability. - High-value funding
Second-hand car finance provides substantial funding, enabling you to secure a significant portion of the vehicle's cost. This guarantees the acquisition of your desired pre-owned car while maintaining your financial obligations.
Bajaj Finance offers used car loans of up to 115% of the car's value, providing access to funds of up to Rs. 1.02 crore. This high-value loan makes the purchase of your desired second-hand car easy.
Additional Read: Can I get a used car loan with a low credit score
- Safeguards your savings
When you purchase a car, you are typically making a substantial upfront payment, which can deplete a significant portion of your savings. Opting for second-hand car finance allows you to keep your savings for emergencies. By keeping your savings intact, you are ensuring a more stable and comfortable financial future. - Convenient payback options
Second-hand car finance often comes with convenient payback options that can be tailored to your financial situation and preferences. Lenders understand that borrowers have unique needs, and as a result, they offer flexible repayment terms. The Bajaj Finserv Used Car Loan comes with flexible tenures, giving you the freedom to repay your loans over a period of up to 84 months. This flexibility allows you to choose a payback plan that corresponds with your overall financial goals. - Quick disbursal of funds
A second-hand car loan comes in handy as you receive the funds you need in very little time once your application is approved. The quick disbursal facility of a used car loan makes it a popular choice among individuals. If you opt for a Bajaj Finserv Used Car Loan, you can get the funds you need within 48 hours of approval.
Bajaj Finserv Used Car Loan comes with several additional benefits such as simple eligibility criteria and minimal documents.
Click on the following link to learn more about this financing option.
