Used Car Loan in Chennai

Read our detailed guide to learn about the features, eligibility criteria, and application process of our used car loan in Chennai.
Used Car Loan in Chennai
5 min read
12 February 2024

In Chennai, a city that blends the old with the new, owning a car is not just a convenience; it’s a necessity. With its growing population, rapidly expanding infrastructure, and busy lifestyle, having a reliable vehicle can significantly improve your day-to-day life. While new cars come with a hefty price tag, a used car offers an affordable option without compromising on quality.

Get used car loan in Chennai from Bajaj Finance

If you’re in Chennai and considering buying a pre-owned vehicle, a used car loan could be the ideal solution. Bajaj Finance offers a used car loan in Chennai that makes car ownership more accessible, with easy approval and fast disbursal. You might also have a pre-approved loan offer that will fast track your loan process.

Check your used car loan pre-approved offer in Chennai – it’s simple and quick with just your phone number and OTP. No need to visit any branch.

Read on to find out how you can finance your pre-owned vehicle purchase with Bajaj Finance and enjoy the benefits of a hassle-free loan process.

Features and benefits of second-hand car finance in Chennai

Bajaj Finance offers used car loans in Chennai with a host of benefits, making the entire process smooth and customer-friendly:

  • High-value finance: Get financing up to 115% of the vehicle's value, ensuring you have enough funds to cover the full cost of your vehicle.
  • Fast disbursal in 48 hours* of approval: Benefit from the quick disbursal facility, the funds will be credited to your account within 48 hours of loan approval, so you can purchase your dream car without unnecessary delays.
  • Loan amount up to Rs. 1.02 crore: Whether you are eyeing an economy car or a high-end vehicle, you can secure up to Rs. 1.02 crore with Bajaj Finserv, making it easier to fund your car purchase.
  • Flexible tenures: Choose a repayment tenure of up to 84 months, which gives you the flexibility to manage your loan repayments according to your financial situation.
  • Doorstep assistance: Avoid the hassle of branch visits. You can conveniently submit your documents through the doorstep assistance facility.
  • Flexi Loan variants
    Our unique Flexi Loan variants allow you to withdraw funds as needed, part-prepay your loan at no extra cost, and stay in control of your finances.

Eligibility criteria for a used car loan in Chennai

Securing a used car loan in Chennai from Bajaj Finance is easy, with straightforward eligibility criteria and minimal documentation requirements. Here is what you need to qualify:

Eligibility for salaried individuals:

  • Nationality: Indian
  • Age: 18 to 80 years*
  • CIBIL Score: 700 or higher
  • Minimum salary: Rs. 20,000 per month
  • Minimum work experience: 1 year

Eligibility for self-employed individuals:

  • Nationality: Indian
  • Age: 18 to 80 years*
  • CIBIL Score: 700 or higher
  • Income proof: ITR for the last 2 years

*The higher age limit applies at the time of loan maturity.

Documents required for a used car loan in Chennai

Once you meet these basic eligibility parameters, you will need to submit the required documents, such as, PAN card, KYC documents, bank statements, salary slips or ITR proofs (for self-employed) and more.

Curious about how much you can borrow for a used car? Check your used car loan eligibility in just a few steps and see the amount you qualify for.

Used car loan interest rates in Chennai

Interest rates on used car loans in Chennai can vary depending on the loan amount, tenure, and your credit profile. Bajaj Finance offers competitive interest rates to ensure you get the best deal possible. For more details on interest rates, visit our fees and charges for used car loan page.

To help you make an informed decision, you can use the used car loan EMI calculator on our website to estimate your monthly repayments. Simply input the loan amount, tenure, and interest rate, and you will get an instant EMI result.

How to apply for a used car loan in Chennai

Applying for a used car loan in Chennai is easy and completely online. Follow these simple steps to start your application:

  1. Visit the Bajaj Finserv used car loan page and click the ‘APPLY’ button.
  2. Enter your mobile number and complete the OTP verification process.
  3. Fill out the application form with your personal details such as full name, email address, and income information.
  4. If you’ve already chosen a car, enter its details.
  5. Verify or update your KYC details before proceeding.
  6. Schedule an appointment for further verification or submit your form directly.

After you submit your application, a Bajaj Finance representative will reach out to you to guide you through the next steps.

In Chennai, where modern living meets traditional charm, a used car loan can be the perfect solution for those looking to own a vehicle without breaking the bank. Bajaj Finance offers an easy, fast, and flexible way to finance your second-hand car purchase, with high-value loans, quick disbursal, and minimal documentation.

Check your pre-approved used car loan offer now and start your loan application in just a few clicks.

Explore used car loans in other locations

Used car loan in Bangalore

Used car loan in Coimbatore

Used car loan in Madurai

Used car loan in Kerala

Used car loan in Navi Mumbai

Used car loan in Hyderabad

Bajaj Finserv app for all your financial needs and goals

Trusted by 50 million+ customers in India, Bajaj Finserv App is a one-stop solution for all your financial needs and goals.

You can use the Bajaj Finserv App to:

  • Apply for loans online, such as Instant Personal Loan, Home Loan, Business Loan, Gold Loan, and more.
  • Invest in fixed deposits and mutual funds on the app.
  • Choose from multiple insurance for your health, motor and even pocket insurance, from various insurance providers.
  • Pay and manage your bills and recharges using the BBPS platform. Use Bajaj Pay and Bajaj Wallet for quick and simple money transfers and transactions.
  • Apply for Insta EMI Card and get a pre-qualified limit on the app. Explore over 1 million products on the app that can be purchased from a partner store on Easy EMIs.
  • Shop from over 100+ brand partners that offer a diverse range of products and services.
  • Use specialised tools like EMI calculators, SIP Calculators
  • Check your credit score, download loan statements and even get quick customer support—all on the app.

Download the Bajaj Finserv App today and experience the convenience of managing your finances on one app.

Do more with the Bajaj Finserv App!

UPI, Wallet, Loans, Investments, Cards, Shopping and more

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.

Frequently asked questions 

How much used car loan can I get in Chennai?

When you opt for a used car loan from Bajaj Finance, you can get a high-value loan of up to Rs. 1.02 crore. This substantial loan amount allows you to bring home the car of your choice without any budget constraint. However, the final amount depends on your eligibility. Ready to see how much you qualify for? Check your used car loan eligibility in just a few clicks.

What is the interest rate for second-hand car loans in Chennai?

Interest rates might vary from lender to lender. However, when you choose a used car loan from Bajaj Finance, you can get funds at competitive interest rates starting at 10%.

What is the CIBIL Score required to get a used car loan in Chennai?

To become eligible for a Bajaj Finserv Used Car Loan, you should have a CIBIL Score of 700 or higher. Apart from meeting this credit score requirement, you also need to fulfil some basic criteria to qualify for a used car loan from Bajaj Finance.

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