Frequently Asked Questions

What is an EMI?

Equated monthly instalments, or EMIs, are monthly payments that include both the principal and interest components of the loan amount. EMIs provide you with the convenience and advantage of repaying your loan in smaller, more manageable payments that can be spread out over the tenor of your choice.

How can I get a loan for a pre-owned car?

You may apply online by clicking the 'Apply Online' button, or you can contact us through one of the modes listed in the 'Contact Us' section.

What is the maximum loan amount that I can get?

You can get used car finance of up to 90% of the vehicle's value.

What are the tenor options for used car finance?

Depending on your preference and loan amount, you can pick a tenor ranging up to 72 months.

How safe is the information provided by me?

We keep all of your information safe. Our online application system is fully private and secure, with state of the art security system in place.

Do I need a co-applicant or guarantor to get a used car loan?

No, however, if your income does not meet our eligibility criterion, you may be asked to offer a guarantor/ co-applicant as security for your loan.

How do I repay the loan?

The ECS feature allows you to repay the loan in equated monthly instalments (EMIs).

Do I have any special benefits as an existing Bajaj Finance Limited customer?

Through the Bajaj Finserv EMI Network, you are entitled to a variety of benefits as a valued customer. For pre-approved offers and additional benefits, log in to Experia now.

Is it possible to check my loan summary and payment details online?

Logging into Experia with your credentials gives you access to all of your loan account information.

Are there any charges for foreclosure or part-prepayment?

For part-prepayment and foreclosure, customers are liable to pay 4% + applicable taxes on the outstanding principal/ amount being prepaid.

Can I get money to buy a new car?

Only pre-owned vehicles are eligible for financing.

Does this require vehicle verification or valuation?

The car requires verification or valuation. To make your loan application procedure simple and seamless, Bajaj Finance Limited performs vehicle valuation and verification as a part of the loan application process.

Which cars are eligible for financing?

You may fund any private car of your choice with a used car loan from Bajaj Finance Limited.

You won’t be eligible for a used car loan in the case of:

  • A car with a yellow plate for commercial purposes.
  • The vehicle has had three former owners.
  • The car being more than 12 years old at the end of the loan tenure.
How can I get a duplicate NOC/ Form 35 for a car loan that has been fully repaid?

Please visit our nearest branch and apply for a duplicate NOC, along with the original RC copy and a photo ID (if any further documents are required, you will be informed).

Who is responsible for the payment of interest and other fees in the event of loan cancellation?

In the event of loan cancellation, the customer is responsible for the interest levied from the date of disbursement until the date of cancellation. Processing fees, stamp duties, documentation fees and RTO fees are non-refundable charges and cannot be waived or returned if the loan is cancelled.

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