Vijayawada, the vibrant city in the heart of Andhra Pradesh, is witnessing a transformation in its vehicular landscape. Known for its historic landmarks and bustling markets Vijayawada is also becoming a hotspot for the burgeoning popularity of used cars. As residents increasingly recognise the practicality and affordability of pre-owned vehicles, the demand for used cars in the city is on a steady rise.
Used car loans in Vijayawada
To cater to the rising demand for used cars, financial institutions in Vijayawada are offering used car loans. These financial products are tailored to provide residents with the necessary financial support to turn their dreams of owning a vehicle into reality. Used car loans not only ease the financial burden but also contribute to the overall development and economic growth of the city.
Bajaj Finance, one of the leading financial institutions makes availing of used car loans easy with its simplified process. With Bajaj Finserv Used Car Loan, you can get a substantial loan amount by meeting our simple eligibility criteria. Read on to learn more about the features and benefits.
Features and benefits of used car loans in Vijayawada
Asset-based financing
Bajaj Finance offers asset-based financing. You can get funds up to 115% of the car's value at competitive interest rates.
Quick disbursal facility
With our quick disbursal facility, you can receive the required funds within 48 hours* of approval. This expedited process lets you drive home your dream car without any delay.
High-value loan
With Bajaj Finserv Used Car Loan, you can get a high-value loan of up to Rs. 1.02 crore. This significant loan amount allows you to fund the purchase of your desired vehicle easily.
Long repayment tenure
Manage your loan repayments easily with our flexible repayment options. You can spread the cost of your vehicle over a period of up to 84 months.
Doorstep document collection
Our doorstep document collection facility allows you to provide the required paperwork to our representative from the comfort of your home.
Flexi Loan variants
Use the Flexi facility for additional features. Withdraw funds when you need them from your assigned limit and part-prepay when you can at no extra cost.
Additional read: Benefits of choosing second-hand car finance
Eligibility criteria for used car loans in Vijayawada
Securing a used car loan in Vijayawada requires you to meet specific eligibility criteria including age, credit score, and monthly income. Bajaj Finance provides used car loans with clear and uncomplicated eligibility requirements, enabling you to qualify for a high-value loan by fulfilling these essential parameters.
Nationality: Indian
Age: 18 to 80*
CIBIL Score: 700 or higher
Salaried individuals: Individuals should have at least 1 year of experience and a minimum monthly salary of Rs. 20,000.
Self-employed individuals: Applicant must submit an ITR proof of the last 2 years.
*Higher age limit is applicable at the time of loan maturity.
Additional read: How to calculate your used car loan eligibility
Used car loan interest rates in Vijayawada
Used car loan interest rates in Vijayawada may differ among various lenders. Bajaj Finance offers by providing competitive interest rates and flexible repayment options with its used car loans. For a detailed breakdown of our interest rates, you are encouraged to explore our fees and charges page.
How to apply for used car loans in Vijayawada
Applying for a used car loan from Bajaj Finance is a straightforward and user-friendly process. Simply follow these steps and complete your online application with us.
- Head to our dedicated used car loan page and select the 'APPLY' button.
- Input your mobile number and complete the verification process using OTP authentication.
- Provide essential details such as your full name, email address, and other required information.
- If you have already chosen a car, enter its details.
- Verify your KYC information as necessary, and in case of any changes, you can update your details. Additionally, you can schedule a convenient time for any further verification.
After you submit the application form, our representative will promptly get in touch with you to assist you through the remaining steps. With competitive interest rates and a quick disbursal facility, Bajaj Finance provides you with a smooth and hassle-free borrowing experience.
