Used car finance with Flexi facility

With the Bajaj Finserv Used Car Finance, you may simply fund the purchase of a pre-owned vehicle. Get a high-value loan for your automobile and pay it off over a flexible tenor. Pay up to 50% lower EMIs with the Flexi Hybrid feature, making the loan even more manageable. Besides, it comes with unlimited deposits and withdrawals at nil charges.

Features and benefits

  • High-value Loan

    High-value loan

    With a loan that covers up to 90% of the car's worth, purchasing a pre-owned vehicle becomes easy and manageable.

  • Convenient Repayment Options

    Convenient repayment options

    Repay the loan over a flexible tenor of up to 60 months. Choose a period at your convenience.

  • Reduce your EMIs

    Reduce your EMIs

    The Flexi Hybrid feature provides you more flexibility on your car loan by allowing you to lower your EMIs by up to 50%*.

  • Unlimited Withdrawals

    Unlimited withdrawals

    Borrow when you need from your loan limit, without the need for a fresh application every time.

  • Part-Prepayment Facility

    Part-prepayment facility

    Part-prepay when you can with the surplus funds. This facility is available at nil charges.

  • Pay Interest Only on Utilised Amount

    Pay interest only on utilised amount

    The Flexi Hybrid feature lets you pay interest only on the amount utilised and not the entire principal.

*Conditions apply

Eligibility criteria for used car finance with Flexi Hybrid facility

The eligibility criteria for used car finance with the Hybrid Flexi facility are like its term loan counterpart.

  • Age

    Age

    21 to 60 years for salaried individuals; 25 to 65 years for self-employed individuals

  • Employment

    Employment

    Salaried individuals with a minimum experience of 1 year and a minimum monthly salary of Rs. 20,000

  • Car Age and Ownership

    Car age and ownership

    The car should not be more than 5 years old and should not have more than 1 former owners

  • Car Type

    Car type

    Only available for private cars

Documents required

The following are the documents required for this loan.

  1. 1 KYC documents
  2. 2 Bank statements of the last 3 months
  3. 3 Salary slips of the previous 3 months for salaried individuals
  4. 4 Income tax returns of the last 2 years for self-employed individuals if loan amount is 15,00,000 or above

Fees and charges of used car finance with Flexi Hybrid facility

Bajaj Finserv Used Car Finance is offered at competitive interest rates and reasonable associated fees and charges. Complete transparency in policies ensures no surprise charges.