Check your pre-approved offer and other benefits
Enter mobile and OTP | Check offer | Know your exact loan terms
In summary
Used Car Ownership Made Easy
- Loan amounts range from Rs. 1 lakh to Rs. 2.50 crore.
- Funding can reach 100% of the assessed car value.
- Repayment tenure ranges from 12 months to 84 months.
- Interest rates range from 10% to 18.25% p.a.
- A CIBIL Score of 650 or higher is required.
- Vehicle age and previous ownership are also assessed.
If the car and repayment plan both suit your needs, review your pre-approved Bajaj Finance Used Car Loan offer before you proceed further.
What is a used car loan?
A used car loan provides financing for the purchase of a pre-owned vehicle. The financed amount is repaid over an agreed period along with applicable interest and charges.
Bajaj Finance Used Car Loan is available for eligible private cars. Approval depends on both the applicant assessment and the vehicle selected for financing.
When can a used car loan be useful in Delhi?
You may prefer financing when paying the full eligible car cost upfront would use funds you need for other priorities. Monthly repayments allow the purchase cost to be spread over the selected tenure.
Keep the ownership budget separate from the purchase budget. Insurance, fuel, servicing, tyres and unexpected mechanical work can begin adding to your expenses soon after you take ownership.
Borrowing increases the total amount paid because interest and applicable charges are added. Compare the full repayment obligation with using your own funds before choosing the loan amount.
What does Bajaj Finance Used Car Loan offer?
Bajaj Finance Used Car Loan provides the following parameters for eligible pre-owned private cars. The sanction you receive depends on your financial profile and vehicle assessment.
| Feature | Details |
| Loan amount | Rs. 1 lakh to Rs. 2.50 crore |
| Funding | Up to 100% of the car’s assessed value |
| Repayment tenure | 12 months to 84 months |
| Interest rate | 10% to 18.25% p.a. |
| Disbursal after approval | Funds are disbursed after loan approval and completion of applicable checks. |
| Doorstep assistance | Get support with document collection and Registration Certificate (RC) transfer. |
Last reviewed: September 2026
The maximum funding percentage does not determine your final sanction on its own. Repayment capacity, credit profile, eligibility and the assessed vehicle value are considered during the loan assessment.
Disbursal takes place after approval and completion of the applicable checks.
Who can apply for a used car loan in Delhi?
Salaried and self-employed Indian applicants can apply after meeting the relevant used car loan eligibility criteria. Meeting the listed requirements does not automatically result in approval.
| Criteria | Salaried applicants | Self-employed applicants |
| Nationality | Indian | Indian |
| Age | 21 years to 80 years* | 21 years to 80 years* |
| Credit score | 650 or higher | 650 or higher |
| Income requirement | Minimum salary of Rs. 20,000 per month | Income Tax Return (ITR) for the previous 2 years |
| Experience | At least 1 year of work experience | Income assessed through ITR |
*Age should be 80 years or less at the end of the loan tenure.
The assessment can also consider your existing repayments, income stability, credit history and supporting records. Vehicle eligibility is checked separately.
Which used cars can qualify for financing?
The car must meet the product’s vehicle conditions in addition to your personal eligibility. Pay particular attention to its age before choosing a tenure.
| Vehicle requirement | Details |
| Vehicle type | Private car |
| Maximum vehicle age | Not more than 12 years at the end of the loan tenure |
| Previous owners | Not more than 2 previous owners |
Suppose two cars meet your budget, but one is considerably older. The older vehicle can have fewer tenure options because it must remain within the permitted age when repayment ends.
Use the Registration Certificate to confirm the first registration date and ownership trail. Also check whether an earlier loan hypothecation is still recorded against the vehicle.
What documents can you need for a used car loan in Delhi?
Salaried applicants may need
- Know Your Customer (KYC) documents
- Permanent Account Number (PAN) card
- Employee ID card, where applicable
- Salary slips for the previous 2 months
- Bank account statements for the previous 3 months
- Vehicle Registration Certificate
- Vehicle insurance copy
Self-employed applicants may need
- KYC documents
- PAN card
- ITR proof for the previous 2 years
- Bank account statements for the previous 3 months
- Vehicle Registration Certificate
- Vehicle insurance copy
Further records can be requested depending on the applicant or vehicle verification needed. Check that the information across your documents matches before submitting the application.
What are the used car loan interest rates in Delhi?
Bajaj Finance Used Car Loan interest rates range from 10% to 18.25% p.a. The rate offered can depend on your credit profile, income, repayment capacity, amount financed, tenure and vehicle details.
Your borrowing cost extends beyond interest. Processing fees, documentation charges, prepayment-related charges, penal charges and other applicable costs can change the total amount you repay.
Review the used car loan interest rate and fees and charges before accepting the offer. Your loan agreement contains the terms applicable to your borrowing arrangement.
How can you choose between EMI and tenure options?
Begin with the monthly amount your finances can support rather than automatically choosing the longest tenure. Your equated monthly instalment (EMI) has to sit alongside household costs and existing debt repayments.
For the same principal and interest rate, a shorter tenure means a higher EMI but fewer months of interest. Extending the tenure reduces the monthly EMI but increases total interest because the balance remains outstanding for longer.
Use the used car loan EMI calculator to compare different repayment combinations.
Account for:
- household spending
- existing loan EMIs
- fuel
- insurance
- regular servicing
- tyres and battery
- likely repair work
- emergency savings
- age of the selected car
The vehicle-age condition can rule out some longer tenure choices. Check this before planning your purchase around a particular EMI.
Illustrative EMI example
Consider Aarav, a 36-year-old salaried applicant in Delhi earning Rs. 79,000 per month with a CIBIL Score of 764.
Assume:
- Loan amount: Rs. 8.60 lakh
- Interest rate: 11.90% p.a.
- Tenure: 66 months (5.5 years)
The EMI formula is:
EMI = P × R × (1 + R)^N ÷ [(1 + R)^N – 1]
Here, P is the principal amount, R is the monthly interest rate and N is the number of monthly instalments.
For these assumptions:
- Estimated EMI: Rs. 17,819 per month
- Estimated total repayment: Rs. 11,76,027
- Estimated interest paid: Rs. 3,16,027
These are illustrative figures. The calculation excludes processing fees, documentation charges, stamp duty and other applicable costs. Your actual EMI and total repayment depend on the sanctioned amount, interest rate, tenure and applicable charges.
What should you check before buying a used car in Delhi?
A detailed inspection should tell you more than whether the car starts and drives. Look for evidence of how it has been maintained, how heavily it has been used and what expenses may come next.
Compare wear with the recorded mileage
Look at the steering wheel, pedals, driver’s seat and gear lever. Heavy wear that does not seem consistent with the odometer reading deserves further discussion with the seller.
Test the car after it warms up
Do not end the test drive after a few minutes. Check:
- engine response
- temperature behaviour
- clutch or automatic gearbox response
- braking
- steering
- suspension noise
- tyre condition
- air-conditioning
- warning lights
- electrical equipment
Some issues become noticeable only once the engine and transmission have reached operating temperature.
Review repair and ownership history
Compare service bills, insurance records and repair invoices with the Registration Certificate. Ask about major mechanical or body repairs where the records show unusual gaps.
Check what needs replacing soon
Find out when the tyres, battery, brakes and scheduled service are likely to need attention. Include these costs when comparing one used car with another.
An independent mechanical inspection can be useful when the service history is incomplete or the condition cannot be assessed confidently.
How do you apply for a used car loan in Delhi?
- Visit the Bajaj Finance Used Car Loan product page and select ‘APPLY’.
- Enter your mobile number and complete one-time password (OTP) verification.
- Fill in the requested personal information.
- Provide your employment and income details.
- Add the selected vehicle information, where applicable.
- Complete KYC and further verification requirements.
- Submit the application for assessment.
A Bajaj Finance representative can assist with the remaining document and verification requirements.
How should you plan a used car purchase in Delhi?
The Public Works Department of the Government of NCT of Delhi manages infrastructure that includes roads, bridges, flyovers, footpaths and subways.
For frequent city driving, inspect how the car behaves at low speeds. Cooling performance, air-conditioning, brakes, steering and gearbox response can influence everyday usability.
For regular travel beyond the city, add tyre condition, wheel alignment, suspension and service consistency to your inspection priorities. Once you are satisfied with both the car and the repayment plan, check your eligibility before taking the purchase forward.
Explore used car loans in other locations
| Used car loans in Gurgaon | Used car loans in Hubli | Used car loans in Navi Mumbai | Used car loans in Ludhiana | Used car loans in Chandigarh |
What do our customers say about us
Amit Chauhan
Reviewed on 04 Mar 2025
Smooth and transparent used car loan process. The interest rates were competitive, and the documentation was minimal. The team guided me clearly at every step, making my used car purchase simple and stress-free. Highly recommended for quick approvals.
Ashwin Kamble
Reviewed on 24 Feb 2025
Clear guidance, quick approval, and flexible repayment options made buying my used car easier than expected. The team handled everything professionally. Very satisfied and would definitely recommend their used car loan.
Rohit Sharma
Reviewed on 12 Apr 2025
I had a great experience while applying for my used car loan. The process was quick, and the interest rate helped me manage the purchase better. Customer service was helpful throughout. Highly recommended for a smooth used car financing experience.
Ajay Kulkarni
Reviewed on 08 Dec 2024
My used car loan experience was simple and hassle-free. The approval was quick, the repayment options were flexible, and the team explained every step clearly. It helped me buy my preferred used car without financial stress. I would surely recommend it.
Frequently asked questions about used car loan in Delhi
Overview
Repayment
Does an older used car always qualify for the same tenure as a newer one?
No. Vehicle age is measured against the permitted limit at the end of the loan tenure. An older car can therefore have a shorter repayment period available even if it otherwise qualifies for financing. Check the first registration date before finalising your preferred tenure. A shorter tenure can increase the monthly EMI for the same loan amount, so vehicle age should be considered alongside your repayment budget.
Why should I check the ownership history before buying a used car?
Ownership history helps you confirm whether the car meets the applicable financing conditions and whether the Registration Certificate matches the seller’s information. Bajaj Finance also limits the number of previous owners for eligible vehicles. Review the RC, insurance records and any available transfer documents. If an earlier lender’s hypothecation is still recorded, ask the seller to explain how it will be cleared before proceeding.
What costs should I budget for immediately after buying a used car?
Keep room in your budget for insurance, servicing and any parts that may need replacement soon. tyres, battery, brakes, fluids or suspension work can add to your initial ownership cost. Use the service history and mechanical inspection to estimate these expenses before agreeing on the purchase. A car with a lower asking price can cost more overall if several maintenance items need attention shortly after purchase.
Why can two tenure options have very different total interest costs?
Interest accrues while the loan balance remains outstanding. A longer tenure spreads repayment across more months, which can reduce each EMI but extend the period over which interest is charged. For the same principal and rate, this usually increases total interest. Compare the monthly EMI, total repayment and total interest together so that a lower monthly payment does not hide a higher overall borrowing cost.
What should I consider before choosing the highest EMI I can afford?
Do not base the EMI only on the income left after existing loan repayments. Allow for household expenses, fuel, insurance, maintenance, repairs and emergency savings as well. A monthly instalment that consumes most of your available surplus can leave little room for unexpected car-related costs. Compare several repayment options and choose an amount that remains manageable alongside regular ownership expenses.
Disclaimer
1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.
2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.