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In summary
Used Car Ownership Made Easy
- Loan amounts range from Rs. 1 lakh to Rs. 2.50 crore.
- Funding is available up to 100% of the car’s value.
- Choose repayment from 12 months to 84 months.
- Interest rates range from 10% to 18.25% p.a.
- Applicants need a CIBIL Score of 650 or higher.
- Vehicle age and previous-owner count are also reviewed.
If you have already identified a vehicle, check whether you are eligible for a pre-approved Bajaj Finance Used Car Loan offer before completing the deal.
How can a used car loan help you in Patna?
A pre-owned car can reduce your purchase expense, but paying the complete amount upfront can still take a considerable sum out of your available funds.
With a used car loan, you can spread the financed amount over monthly repayments. This allows you to keep funds available for fuel, insurance, maintenance, repairs, and other financial priorities.
Before deciding on a specific car, set an EMI range based on your income and regular expenses. It can help you avoid choosing a vehicle that makes your monthly finances difficult to manage.
What does Bajaj Finance Used Car Loan offer?
Bajaj Finance Used Car Loan is available for eligible customers purchasing private pre-owned cars.
| 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 final sanctioned amount depends on the customer’s financial profile and vehicle assessment.
What are the used car loan interest rates in Patna?
Bajaj Finance Used Car Loan interest rates range between 10% and 18.25% p.a. The rate offered can vary based on your income, credit profile, repayment capacity, amount borrowed, tenure, and selected car.
Review processing, documentation, prepayment, and other applicable charges along with the interest rate. Rather than choosing on the basis of one figure, look at your total repayment obligation.
How can you choose the right EMI and tenure?
A shorter tenure usually increases the monthly payment but reduces the length of repayment. A longer tenure may make the EMI easier to manage but keeps the loan running for more time.
Factor in:
- income after deductions
- household costs
- existing EMIs
- insurance
- fuel
- servicing
- emergency savings
- age of the car
Vehicle age can restrict the tenure because the car must remain within 12 years at the end of repayment. Use the used car loan EMI calculator to understand how your monthly payment changes with different loan amounts and tenures.
Who can apply for a used car loan in Patna?
| 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 broader financial position, current liabilities, credit history, supporting documents, and chosen vehicle can also influence the assessment.
Additional read: Other benefits of choosing used car finance
Is your chosen car eligible for financing?
| 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 |
An older car can also reduce the repayment tenure available.
What should you inspect before buying a used car?
Check the maintenance trail
Review service records and ask about major work already carried out.
Inspect engine performance
Look for warning lights, smoke, leaks, unusual noise, or unstable idling.
Check tyres and brakes
Tyres should have usable tread and no major cracks or uneven wear. Braking should feel predictable.
Assess suspension and steering
Listen for knocking sounds and notice whether the steering stays stable during the test drive.
Test AC and electrical items
Check cooling, windows, locks, lights, infotainment, and dashboard controls.
Drive for long enough
A proper test drive gives you a better opportunity to assess acceleration, braking, transmission, steering, suspension, and vibration.
What documents are required for a used car loan in Patna?
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
Document requirements may change based on the applicant profile and verification needs.
How to apply for a used car loan in Patna?
- 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 car information, where applicable.
- Complete KYC and any additional verification.
- Submit the application for assessment.
Plan your used car purchase in Patna
For regular travel within Patna or road journeys towards nearby parts of Bihar, your car needs to fit both the way you drive and the amount you can comfortably spend each month. Consider fuel needs, maintenance, condition, comfort, and documents before finalising it. A Bajaj Finance Used Car Loan can then help you spread the vehicle purchase cost over planned EMIs while keeping more of your available funds for regular ownership expenses.
If your car choice and budget are ready, check your eligibility for a Bajaj Finance Used Car Loan.
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 Patna
Overview
Repayment
Who can apply for a used car loan in Patna?
Both salaried and self-employed customers can apply subject to the applicable eligibility conditions. Salaried applicants need the required work experience and income, while self-employed applicants need the applicable ITR proof.
How much used car loan can I get in Patna?
Bajaj Finance Used Car Loan amounts range from Rs. 1 lakh to Rs. 2.50 crore. The actual amount offered depends on your eligibility, repayment capacity, credit profile, and the value of the car you plan to buy.
What documents are required for a used car loan?
Common documents include KYC documents, PAN card, income proof, bank statements, vehicle RC, and insurance documents. Salaried and self-employed applicants may need different income-related documents based on their profiles.
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.