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
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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.
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Convenient repayment options
Repay the loan over a flexible tenor of up to 60 months. Choose a period at your convenience.
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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%*.
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Unlimited withdrawals
Borrow when you need from your loan limit, without the need for a fresh application every time.
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Part-prepayment facility
Part-prepay when you can with the surplus funds. This facility is available at nil charges.
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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.
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Age
21 to 60 years for salaried individuals; 25 to 65 years for self-employed individuals
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Employment
Salaried individuals with a minimum experience of 1 year and a minimum monthly salary of Rs. 20,000
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Car age and ownership
The car should not be more than 5 years old and should not have more than 1 former owners
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Car type
Only available for private cars
Documents required
The following are the documents required for this loan.
- 1 KYC documents
- 2 Bank statements of the last 3 months
- 3 Salary slips of the previous 3 months for salaried individuals
- 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.
