Mumbai, the bustling heart of India, is a city where life moves at a rapid pace, blending culture, commerce, and history. In such a fast-paced environment, owning a car is not just a convenience but a necessity. However, the high cost of new vehicles often prompts individuals to consider purchasing used cars as a more affordable option. To support this, a used car loan in Mumbai play a significant role, offering financial assistance for those looking to buy a pre-owned vehicle without straining their budget.
Bajaj Finance offers a used car loan in Mumbai that are designed to make the car buying process easy, affordable, and accessible. You can also check if you already have a pre-approved used car loan offer in Mumbai. The entire process is online, no branch visit required. Speed up your journey to car ownership today
Features of Bajaj Finserv Used Car Loan in Mumbai
Bajaj Finance offers a range of benefits with its used car loans, ensuring that vehicle ownership in Mumbai is both convenient and financially feasible:
Substantial financing: Secure funding up to 115% of your car’s value, with affordable interest rates through our asset-based financing.
Large loan amount: Access up to Rs. 1.02 crore for purchasing a pre-owned car without worrying about exceeding your budget.
Quick disbursement: Once your loan is approved, you can receive the funds within just 48 hours*. This quick disbursal facility allows you to complete the purchase of your desired vehicle without delay.
Flexible tenures: Choose a convenient repayment tenure of up to 84 months, giving you the flexibility to spread the cost of your used car over time.
Eligibility criteria for a used car loan in Mumbai
Getting a used car loan in Mumbai from Bajaj Finance is easy with our simple eligibility requirements. To apply, ensure you meet the following criteria:
For salaried individuals:
Nationality: Indian
Age: 18 to 80 years*
CIBIL Score: 700 or higher
Minimum Salary: Rs. 20,000 per month
Experience: At least 1 year of work experience
Additional read: how to calculate your used car loan 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.
Once you meet these basic parameters, you will need to provide documents such as, PAN card, KYC documents, bank statements, salary slips or ITR proofs (for self-employed individuals) and more.
Want to calculate your eligibility for a Bajaj Finserv Used Car Loan? It is easy and online. Check your used car loan eligibility and find out how much you can borrow.
Used car loan interest rates in Mumbai
Interest rates on used car loans in Mumbai vary based on factors like credit score, loan amount, and repayment tenure. Bajaj Finance offers competitive interest rates to ensure that your borrowing remains affordable. To learn more about the applicable interest rates and other fees, visit our used car loan fees and charges page.
You can also use our used car loan EMI Calculator to plan your finances in advance by calculating your monthly instalment based on the loan amount, tenure, and interest rate.
How to apply for a used car loan in Mumbai
Applying for a second-hand car loan in Mumbai with Bajaj Finance is simple and hassle-free. Follow these easy steps to get started:
Visit the used car loan page and click on the ‘APPLY’ button.
Enter your mobile number and verify it with an OTP.
Fill in your personal details, such as your full name, mobile number, email ID, etc.
Provide the details of the car you wish to purchase, including make, model, and colour.
Verify or update your KYC details and schedule an appointment for further verification.
Submit the form, and a representative will contact you to guide you through the next steps.
In a city like Mumbai, where mobility is key, owning a car is a necessity for navigating the bustling streets and ever-evolving infrastructure. Bajaj Finserv Used Car Loan offers a straightforward, flexible, and affordable way for you to finance your pre-owned car purchase, making vehicle ownership easy and accessible.
Check your pre-approved used car loan offer now and drive home your dream car today.
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