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Features and Benefits

Fund your pre-owned car purchase in a smart, quick and hassle-free way with Used Car Finance from Bajaj Finance Limited.
 

  • High-value Used Car Finance

    With Bajaj Finance Limited, get an asset-based loan of up to 90% of the car valuation, at an attractive rate of interest. Repay the loan in easy EMIs within a tenor of 12 to 60 months.

  • Doorstep facility

    Get doorstep assistance on the entire processing- right from document pickup to RC transfer – with the Bajaj Finance Limited Used Car Finance. This makes the process convenient and hassle-free for you.

  • Instant approval

    If you are new to the Bajaj Finance Limited family, you get to enjoy same-day approval on your loan application. In addition to this Bajaj Finance Limited customers get special pre-approved offers on Used Car Finance.

  • End-to-end car care services

    Get deals on washing, polishing, monsoon care and more for your car. With a host of benefits ranging from insurance renewals, car accessories and car servicing, end-to-end car maintenance is made easy with the Bajaj Finance Limited EMI Network Card.

  • Pre-approved offers

    Great offers

    Once you have availed a Used Car Finance from Bajaj Finance Limited, you get a 3M voucher worth Rs. 1,000 for free.

How a Bajaj Finance Limited Used Car Finance Works?

  1. Identify the car you want to buy
  2. Apply for the loan and get an instant approval (New customers can get the approval in 24 hours)
  3. Get your documents picked up right from your doorstep, at a time that suits you
  4. Dealer receives the money for your car in 48 hours
  5. Get driving in your new car

Eligibility Criteria

Easy-to-meet eligibility criteria for a Used Car Loan from Bajaj Finance Limited, makes it simple for you to finance your dream car.
  • Salaried individuals should have an age between 21 to 60 years
  • Self-employed individuals should have an age between 25 years to 60 years
  • Salaried individuals should have at least 1 year of work experience and a minimum salary of Rs. 23,000/- per month
  • The loan is applicable only for private cars
  • The car’s age shouldn’t be more than 10 years at the time of loan completion
  • Car should not have more than 3 previous owners

Documents Needed

Used Car Finance from Bajaj Finance Limited requires only minimal documentation.

  • loan against property eligibility india

    KYC documents

  • Bank statements of the last 3 months

  • Income proof: Salaried individuals - Salary slips of the last 3 months

  • lap documents required

    Self-employed individuals - Income Tax Returns of the last 2 years

UCF (Used Car Finance) fees and charges

Types of Fees Charges Applicable
Rate of interest 11% to 19% per annum
Processing fee Upto 4% plus applicable taxes
Stamp Duty At actuals. (as per State)
Documentation charges (Recently Updated) Rs. 1770 (Inclusive of applicable taxes)
Loan re-booking Rs. 1000 (Inclusive of applicable taxes)
Loan cancellation charges (Recently Updated) Rs. 2360 (Inclusive of applicable taxes)
Bouncing charges (Recently Updated) Rs. 2000 (Inclusive of applicable taxes)
Penal Interest Any delay in payment of Monthly Instalment/EMI shall attract penal interest at the rate of 2% per month on the Monthly Instalment/EMI outstanding, from the date of default until the receipt of Monthly Instalment/EMI.
Legal, repossesion and incidental charges at actuals
NDC for interstate transfer Rs. 1000 Plus applicable taxes
NDC to convert from private to commercial Rs. 3000 Plus applicable taxes
Duplicate NDC Rs. 500(Inclusive of taxes)
Mandate Rejection Charge
 

Newly Introduced

Rs. 450/- (Inclusive of taxes) will be applicable if new mandate form is not registered within 30 days from the date of rejection of previous mandate form by Customer’s Bank for any reasons whatsoever.
 
Statement Of Account/ Repayment Schedule/Foreclo- sure Letter/ Interest Certifi- cate/List of documents Download your e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia. You can get a physical copy of your statements/letters/certificate s/List of
Documents from any of our branches at a charge of Rs. 50/- (Inclusive of applicable taxes) per statement/letter/certificate.
PREPAYMENT CHARGES AND ANNUAL MAINTENANCE CHARGES-
Loan Variants Full Pre-Payment (Foreclosure) Charges.(Foreclosure can be processed post clearance of 6th EMI) Part Payment Charges Annual Maintenance Charges
Term Loan 4% + applicable taxes on the outstanding loan amount payable by the Borrower on the date of such full Pre-Payment 4% + applicable taxes of the principal amount of Loan prepaid on the date of such part Pre-Payment Not Applicable
Hybrid Flexi 4% + applicable taxes of the total withdrawable amount as per the repayment schedule, during initial and subsequent tenure on the date of such full pre-payment Not Applicable Initial Tenure: (a) For 1st Year of initial tenor: Nil (b) For 2nd year of initial tenor: 1.25% + applicable taxes of Total Withdrawable Amount, which will be charged at the beginning of year. Subsequent Tenure: 0.25 + applicable taxes of Total Withdrawable Amount, which will be charged at the beginning of year.
Fees & Charges of UCF flexi conversion loan are as follows-
Types of fees Charges applicable
Rate of interest 11% to 19% per annum
Processing fee of conversion Upto 4% plus applicable taxes
Stamp Duty At actuals. (as per State)
Loan cancellation charges  Rs. 2360 (Inclusive of applicable taxes)
Bouncing charges Rs. 2000 (Inclusive of applicable taxes)
Penal charges 2% per month on the amount of monthly instalment outstanding as on that date
Legal, repossession and incidental charges at actuals
NDC for interstate transfer Rs. 1000 + applicable taxes
NDC to convert from private to commercial Rs. 3000 + applicable taxes
Full Pre-Payment (Foreclosure) Charges.(Foreclosure can be processed post clearance of 6th EMI) 4% of the total withdrawable amount plus applicable taxes as per the repayment schedule, during initial and subsequent tenure on the date of such full pre-payment
Part payment charges Nil
Annual Maintenance Charges Initial Tenure:
(a) For 1st Year of initial tenor : Nil
(b) For 2nd year of initial tenor: 1.25% (plus applicable taxes) of Total Withdrawable Amount, which will be charged at the beginning of year
Subsequent Tenure: 0.50% (plus applicable taxes) of Total Withdrawable Amount, which will be charged at the beginning of year.
Duplicate NDC Rs. 500(Inclusive of taxes)
Statement Of Account/ Repayment Schedule/Foreclo- sure Letter/ Interest Certifi- cate/List of documents Download your e-statements/letters/certificates at no extra cost by logging into Customer Portal – Experia. You can get a physical copy of your statements/letters/certificate s/List of Documents from any of our branches at a charge of Rs. 50/- (Inclusive of applicable taxes) per statement/letter/certificate.
“Note: Additional cess will be applicable on all charges in state of Kerala.”

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