Buying a used car is a practical choice as it offers affordability and value. More importantly, when you opt for a used car, the impact of depreciation is considerably diluted, especially in comparison to a new car.
For many, the challenge lies in securing the necessary funds to make a used car purchase. If you are planning to buy a used car but do not have enough cash to finance it, a used car loan can be a great option. You will, however, need to fulfil the lender's eligibility criteria and provide the required documents to be eligible for a used car loan.
If you are looking for a used car loan to make your dream car purchase a reality, you can opt for a Bajaj Finserv Used Car Loan. With this loan, you can obtain a substantial loan value of up to Rs. 1.02 crore.
The requirements for obtaining a used car loan differ from lender to lender. The following requirements must be fulfilled for you to be eligible for a Bajaj Finserv Used Car Loan:
- Nationality: Indian
- Age: From 18 to 80* years
- CIBIL Score: 700 or higher
Additional Read: All you need to know about used car loan
If you are a salaried individual, you should have at least 1 year of experience. You should have a minimum monthly salary of Rs. 20,000 to be eligible for a used car loan.
However, if you are a self-employed individual, you must submit an ITR (income tax returns) proof of the last 2 years.
Once you fulfil the eligibility criteria, you need to submit a few documents as part of the application process. Bajaj Finance offers used car loans that come with minimal documentation. These include your KYC documents – Aadhar/ passport / voter’s ID, PAN card, employee ID, salary slips, bank statement and more.
Getting a Bajaj Finserv Used Car Loan is a simple process. Begin by visiting our used car loan page and clicking on the 'APPLY' button. If you have already chosen a car, provide its details like make, model, variant, and colour in the application form. Enter your personal information, including your full name, mobile number, and email ID. Once you have filled in all the details, click 'SUBMIT' to finalise your application.
A representative will contact you to guide you through the subsequent steps. You’re your documents are verified and loan is approved, you will receive the funds within 48 hours.
Click on the link to visit our used car loan page and learn more about the eligibility criteria and documentation.
*Terms and conditions apply
