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In summary
Used Car Ownership Made Easy
- Loan amounts range from Rs. 1 lakh to Rs. 2.50 crore.
- Get funding of up to 100% of the car’s 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 checked.
Already shortlisted a car? Check whether you qualify for a pre-approved Bajaj Finance Used Car Loan offer before you complete the purchase.
How can a used car loan help you in Faridabad?
A pre-owned car may reduce the amount you need for the purchase, but paying the entire price upfront can still affect your savings. A used car loan lets you finance the vehicle and repay the amount through monthly EMIs. This can make it easier to manage the purchase alongside your regular expenses.
You can also keep some funds available for insurance, fuel, servicing, repairs, and other costs that come with owning a car. Before fixing your car budget, decide how much EMI you can comfortably manage every month. This helps you compare vehicles within a price range that suits your finances.
What can you get with a Bajaj Finance Used Car Loan?
Bajaj Finance Used Car Loan is available to eligible customers purchasing a pre-owned private car.
| Feature | Details |
| Loan amount | Rs. 1 lakh to Rs. 2.50 crore |
| Funding | Up to 100% of the car’s value |
| Repayment tenure | 12 months to 84 months |
| Interest rate | 10% to 18.25% p.a. |
The amount sanctioned depends on your eligibility, repayment capacity, credit profile, and the assessment of the selected vehicle. Funding of up to 100% of the car’s value is subject to the applicable checks.
Additional read: Other benefits of choosing used car finance
What are the used car loan interest rates in Faridabad?
Bajaj Finance Used Car Loan interest rates range from 10% to 18.25% p.a. The rate offered to you can depend on factors such as your income, credit profile, repayment capacity, loan amount, tenure, and vehicle details.
You should also check the applicable processing fee, documentation charges, prepayment-related charges, and other costs before accepting the loan. A lower EMI does not always mean a lower borrowing cost. Compare the interest rate, tenure, applicable charges, and total repayment together.
How should you select your EMI and tenure?
A shorter tenure usually means a higher monthly EMI but helps you complete repayment sooner. A longer tenure can reduce the EMI while keeping the loan active for more time.
Before deciding, consider:
- monthly take-home income
- household expenses
- existing EMIs
- fuel costs
- insurance and servicing
- emergency savings
- age of the selected car
The vehicle must remain within 12 years at the end of the loan tenure. An older car may therefore have fewer tenure options. Use a used car loan EMI calculator to compare different loan amounts and repayment periods before applying.
Choose a monthly instalment that remains manageable even after adding your regular car-running expenses.
Who is eligible for a used car loan in Faridabad?
Salaried and self-employed Indian applicants can apply, subject to the applicable eligibility criteria.
| Criteria | Salaried applicants | Self-employed applicants |
| Nationality | Indian | Indian |
| Age | 21 to 80 years* | 21 to 80 years* |
| CIBIL Score | 650 or higher | 650 or higher |
| Income requirement | Minimum salary of Rs. 20,000 per month | ITR for the last 2 years |
| Experience | At least 1 year of work experience | ITR-based income assessment |
*Age should be 80 or less at the end of the loan tenure. Your income, current financial obligations, repayment capacity, credit profile, documents, and selected vehicle can also influence the final assessment.
If you already pay other EMIs, include them while deciding how much additional repayment your monthly budget can support.
Is the car eligible for financing?
The used car must meet the lender’s vehicle conditions along with your personal eligibility.
| Vehicle requirement | Details |
| Vehicle type | Private car |
| Maximum vehicle age | Not more than 12 years old at the end of the loan tenure |
| Previous owners | Not more than 2 previous owners |
Vehicle age can also affect the repayment period. If the car is already several years old, a shorter tenure may be needed so that it remains within the permitted age when the loan ends.
What should you inspect in a used car in Faridabad?
Check the clutch or automatic transmission
For a manual car, notice whether the clutch feels smooth and whether the gears engage properly. For an automatic car, check for delayed shifts, jerks, or unusual noises.
Inspect the brakes and tyres
Check the tyres for:
- remaining tread
- uneven wear
- cracks or cuts
- sidewall damage
- tyre age
During the test drive, braking should feel smooth and predictable.
Test the cooling and air-conditioning
Let the engine and AC run for enough time to see whether both perform properly.
Also look for:
- warning lights
- high engine temperature
- visible fluid leaks
- weak cooling
Check suspension and steering
Pay attention to knocking sounds, steering vibration, or the car pulling to one side. These can point to suspension, steering, or alignment issues.
Take a detailed test drive
Use the test drive to check:
- acceleration
- braking
- steering
- suspension
- clutch or automatic gearbox
- engine response
- air-conditioning
- unusual noise or vibration
If you are unsure about the vehicle’s condition, consider getting it checked by a qualified professional.
What documents are required for a used car loan in Faridabad?
Salaried applicants may need
- KYC documents
- PAN card
- Employee ID card, where applicable
- Salary slips for the last 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 last 2 years
- Bank account statements for the previous 3 months
- Vehicle Registration Certificate
- Vehicle insurance copy
The exact document requirement can vary depending on your profile and verification needs. Keeping your paperwork ready can make it easier to proceed once you have finalised the car.
How to apply for a used car loan in Faridabad?
- Visit the Bajaj Finance Used Car Loan product page and click on ‘APPLY NOW’.
- Enter your mobile number and complete OTP verification.
- Fill in the required personal details.
- Add your employment and income information.
- Enter the vehicle details, where applicable.
- Complete KYC and any further verification.
- Submit the application for assessment.
Plan your used car purchase in Faridabad
If your regular travel includes daily drives within Faridabad, trips towards Ballabgarh, or longer journeys across the NCR, consider fuel use, comfort, braking, tyres, and maintenance history while choosing the car. Once the vehicle suits your travel needs and the EMI fits your monthly finances, a Bajaj Finance Used Car Loan can help you manage the purchase through planned repayments instead of paying the entire amount upfront.
Ready with your car choice? Check your eligibility for a Bajaj Finance Used Car Loan and understand how much you may be able to borrow.
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.
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Frequently asked questions about used car loan in Faridabad
Overview
Repayment
Can salaried and self-employed applicants apply?
Yes. Both can apply subject to eligibility. Salaried customers need to meet the applicable income and experience conditions, while self-employed applicants need the required ITR-based income proof.
How much used car loan can I get in Faridabad?
You can apply for a Bajaj Finance Used Car Loan ranging from Rs. 1 lakh to Rs. 2.50 crore. The final amount depends on your repayment capacity, financial profile, credit history, and the assessed value of the car.
What CIBIL Score is needed for a used car loan?
A CIBIL Score of 650 or higher is required. Your income, current EMIs, repayment capacity, documents, and selected car can also affect the assessment.
What is the repayment tenure for a used car loan?
Bajaj Finance Used Car Loan offers repayment tenures from 12 months to 84 months. The actual tenure available can depend on your eligibility and the age of the vehicle.
How can I calculate EMI for a used car loan?
A comfortable EMI is usually more useful than choosing the maximum amount you are eligible to borrow. You can use the online used car loan EMI calculator by entering the loan amount, tenure and interest rate and find out the EMI amount instantly.
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.