Rs. 1 lakh – Rs. 2.50 crore
Check your pre-approved offer and other benefits
Enter mobile and OTP | Check offer | Know your exact loan terms
Used Car Ownership Made Easy
In summary
Before financing a used car in Guwahati, work out the EMI you can manage and check whether both your profile and the selected car meet the financing conditions.
- Borrow from Rs. 1 lakh to Rs. 2.50 crore, with funding of up to 100% of the assessed car value
- Repay over 12 months to 84 months, with interest rates from 10% to 18.25% p.a.
- A CIBIL Score of 650 or higher is required, while vehicle age and previous ownership are also assessed
Once the car, upfront contribution, and monthly repayment fit your budget, check your pre-approved Bajaj Finance Used Car Loan offer before proceeding.
Last updated: September 2026
Used car loan in Guwahati at a glance
Here are some of the features of used car loans offered by Bajaj Finance.
| 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. |
| Doorstep assistance | Support with document collection and Registration Certificate (RC) transfer |
Last updated: September 2026
Funding of up to 100% does not mean every customer receives the same proportion of the vehicle value. Your sanctioned amount can depend on repayment capacity, credit profile, overall eligibility, and vehicle assessment.
Disbursal takes place after loan approval and completion of the applicable checks.
What are the eligibility criteria for a used car loan?
Your eligibility is assessed on factors such as age, income, employment profile, and credit history.
| 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 | Minimum Rs. 20,000 per month | ITR for the previous 2 years |
| Experience | At least 1 year of work experience | Income assessed through ITR |
*You should be 80 years old or younger at the end of the loan tenure.
Meeting these criteria allows you to apply but does not guarantee sanction. Existing financial commitments, repayment capacity, income stability, credit history, and supporting documents can also affect the assessment.
→ Quick definition: A Credit Information Bureau (India) Limited (CIBIL) Score is a three-digit number from 300 to 900 that reflects your credit repayment history.
Does your selected vehicle qualify for financing?
The car must meet separate financing conditions even when your own profile qualifies.
| 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 |
The vehicle-age condition applies when the loan ends. An older car may therefore qualify for fewer repayment months.
For the same loan amount and interest rate, a shorter tenure leads to a higher EMI.
Check the first registration date and previous ownership details on the RC. If an earlier lender’s hypothecation is still recorded, confirm how it will be removed before completing the purchase.
→ Quick definition: Hypothecation is the lender’s legal claim over a financed vehicle until the related loan is fully repaid. It is recorded on the RC.
How much do you need to pay as down payment?
Bajaj Finance can fund up to 100% of the assessed value of an eligible used car. Your sanctioned amount may still be lower than the price agreed with the seller.
The amount you need to arrange depends on the seller’s price, assessed vehicle value, sanctioned loan amount, and costs outside the loan.
Example 1: What if the sanctioned loan is lower than the car price?
Suppose Arup, a 38-year-old salaried applicant in Guwahati earning Rs. 76,000 per month with a CIBIL Score of 759, agrees to buy a used car for Rs. 9.75 lakh.
Assume:
- Agreed purchase price: Rs. 9.75 lakh
- Assessed vehicle value: Rs. 8.90 lakh
- Loan sanctioned after assessment: Rs. 7.20 lakh
Arup would need to arrange at least Rs. 2.55 lakh towards the purchase price from his own funds.
He should also plan separately for applicable fees, insurance, ownership-transfer expenses, servicing, and any immediate repairs that are not covered by the sanctioned amount.
Funding of up to 100% applies to the assessed vehicle value and remains subject to sanction. It does not automatically mean the full seller-quoted price will be financed.
Example 2: How does paying more upfront reduce your EMI?
A larger upfront contribution reduces the principal used in the EMI formula.
Suppose Arup can borrow Rs. 7.20 lakh, but decides to contribute another Rs. 75,000 and borrow only Rs. 6.45 lakh.
Assume both options use an interest rate of 11.70% p.a. and a tenure of 60 months.
| Scenario | Total amount paid upfront | Loan amount | Estimated EMI |
| Borrow Rs. 7.20 lakh | Rs. 2.55 lakh | Rs. 7.20 lakh | Rs. 15,907/month |
| Borrow Rs. 6.45 lakh | Rs. 3.30 lakh | Rs. 6.45 lakh | Rs. 14,250/month |
By contributing another Rs. 75,000 upfront, Arup reduces the estimated EMI by around Rs. 1,657 per month.
A larger upfront contribution can also reduce total interest because you borrow less. However, avoid using all your savings only to reduce the EMI. Keep enough money available for insurance, regular servicing, tyres, repairs, and emergencies.
These are illustrative figures. Your actual upfront contribution, sanctioned amount, and EMI depend on applicant eligibility, vehicle assessment, applicable interest rate, tenure, and charges.
What documents do you need?
The documents required mainly depend on whether you are salaried or self-employed. Vehicle records are also needed for verification.
Salaried applicants
- KYC (Know Your Customer) documents
- PAN (Permanent Account Number) card
- Employee ID, where applicable
- Salary slips for the previous 2 months
- Bank statements for the previous 3 months
- Vehicle RC
- Vehicle insurance copy
Self-employed applicants
- KYC documents
- PAN card
- ITR proof for the previous 2 years
- Bank statements for the previous 3 months
- Vehicle RC
- Vehicle insurance copy
Additional documents may be requested depending on verification requirements.
What is the interest rate for a used car loan?
Bajaj Finance Used Car Loan interest rates range from 10% to 18.25% p.a.
Your applicable rate can depend on your credit profile, income, repayment capacity, loan amount, tenure, and vehicle details.
Other applicable borrowing costs can include:
- Processing fees
- Documentation charges
- Prepayment or foreclosure charges
- Penal charges for delayed payments
- Other applicable fees and charges
Review the complete used car loan interest rate and charges and fees and charges before accepting an offer.
Your loan agreement contains the terms applicable to your borrowing arrangement.
What should you check before buying the car?
A used car can fit your purchase budget but still require substantial spending after delivery. Inspect wear items and signs of previous damage before deciding whether the asking price makes sense.
Check:
- Underbody and suspension: Look for damage, loose components, leaks, or unusual sounds over uneven surfaces.
- Tyres and wheel alignment: Check tyre age, tread, sidewalls, and whether wear is consistent across all four tyres.
- Brakes: Make sure the vehicle stops evenly without pulling, vibration, or unusual noise.
- Engine and cooling: Check for overheating, leaks, warning lights, smoke, or abnormal engine sounds.
- Clutch or gearbox: Look for clutch slip, difficult shifts, delayed automatic engagement, or jerking.
- Electrical systems: Test lights, windows, central locking, wipers, air-conditioning, dashboard functions, and infotainment.
- Service records: Check whether maintenance has been regular and identify any high-cost work that may be due soon.
Also inspect the cabin, boot, carpets, seat rails, electrical connectors, and spare-wheel area for unusual moisture marks, corrosion, or staining. These signs deserve closer inspection before you commit to the purchase.
If the car’s records or physical condition leave important questions unanswered, consider an independent mechanical inspection.
What should you consider in Guwahati while selecting?
Match the vehicle to the type of driving you expect to do most often.
For regular city use, check low-speed steering, braking smoothness, clutch effort or automatic gearbox response, air-conditioning, visibility, and ease of manoeuvring. These factors can affect everyday usability more than outright performance.
If you expect frequent longer road journeys outside Guwahati, inspect tyre condition, suspension, wheel alignment, braking stability, engine cooling, and service history more closely. A car used regularly over longer distances should also be checked for consistent tyre wear and signs of deferred maintenance.
Guwahati also serves as a road gateway towards several parts of Assam, with state road networks connecting it towards areas such as Nagaon and onward routes.
Alongside the EMI, budget for fuel, insurance, regular servicing, tyres, parking, and likely repairs so that the total ownership cost remains manageable.
How do you apply for a used car loan?
Once you have shortlisted a car and estimated your borrowing requirement, you can begin the application.
- Click on the ‘CHECK ELIGIBILITY’ button to open the application form.
- Enter your mobile number and verify it using a one-time password (OTP).
- Fill in your personal details.
- Add your employment and income information.
- Provide the selected vehicle details, where applicable.
- Complete KYC and the required verification.
- Submit your application for assessment.
Approval and disbursal remain subject to applicant assessment, vehicle assessment, document verification, and completion of the applicable checks.
A Bajaj Finance representative can assist with the remaining documentation and verification requirements.
After comparing the car’s condition, upfront requirement, and expected monthly repayment, check your eligibility to understand the loan amount available before completing the purchase.
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.
FAQs about used car loan in Guwahati
Repayment
On the vehicle
Can increasing my down payment make a meaningful difference to the EMI?
Yes. A higher upfront contribution reduces the principal used to calculate EMI. When the interest rate and tenure remain unchanged, borrowing less lowers the monthly repayment and total interest. However, compare the EMI saving with the amount of cash you need to keep for insurance, maintenance, repairs, and emergencies before deciding how much to pay upfront.
Can an older car restrict my choice of repayment tenure?
Yes. The vehicle must remain within the permitted age limit at the end of the loan tenure. An older car may therefore qualify for fewer repayment months. This can lead to a higher EMI for the same principal and interest rate, so check the first registration date before building your budget around the maximum available tenure.
Should I calculate affordability from EMI alone?
No. EMI tells you the monthly loan commitment, but the car will also require fuel, insurance, servicing, tyres, repairs, and other ownership expenses. Compare the proposed EMI with your existing financial commitments and regular expenses. A car may appear affordable based on EMI alone but still stretch your monthly budget once ownership costs are included.
What signs can indicate that a used car needs closer inspection for water-related damage?
Look for damp or stained carpets, unusual odour, corrosion on seat rails or electrical connectors, moisture in the boot or spare-wheel area, and inconsistent electrical behaviour. None of these signs proves that a car has suffered serious water damage, but they justify a closer inspection and review of the vehicle’s history before purchase.
How should I compare two cars if one has better service records but a higher price?
Compare the likely total cost after purchase rather than only the asking prices. A car with documented servicing and fewer immediate repair needs may justify a higher price than a cheaper vehicle that soon requires tyres, brakes, suspension work, or major maintenance. Also compare vehicle age, ownership history, available tenure, and mechanical condition before deciding.
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.