Bajaj Finance makes used car loan borrowing easy with its simple eligibility criteria. Read to know the list of parameters that you need to fulfil.
In today's fast-paced world, owning a car has becomea necessity for most of us. Whether it is for commuting to work or running errands,having your own vehicle offers convenience and mobility. However, the prospect of owning a brand-new car might seem financially daunting for some. This is where used cars emerge as a practical and cost-effective alternative, allowing you to fulfil your transportation needs without breaking the bank.
Though, purchasing a used car is a cheaper alternative but still requires aconsiderable sum of money. This is where used car loans can come into play, giving you quick access to funds. This financial product comes with flexible repayment tenures that allows you to spread the cost of your car into small monthly instalments.
As with any loan, it is crucial to understand the lender’s used car loan eligibility criteria so that you can have a hassle-free process.NBFCs such as Bajaj Finance offer used car loans with simple eligibility criteria. Here is the list of eligibility requirementsthat you need to fulfil in order to qualify for Bajaj Finserv Used Car Loan.
- You should be an Indian resident citizen.
- Your age should be between 18 and 80 years*.
- You should have a CIBIL Score of 720 or higher.
- If you are a salaried individual, you should have an experience of at least 1 year, and have a minimum monthly salary of Rs. 20,000.
- If you are a self-employed individual, you must have an ITR proof for the last 2 years.
Apart from these basic eligibility criteria, to qualify for Bajaj Finserv Used Car Loan, you need to submit a few documents. These include your PAN, KYC documents, salary slips, bank statements and more.
In addition to these simple eligibility criteria and minimal documents, Bajaj Finserv Used Car Loan comes with a range of benefits:
High-value loan: With Bajaj Finserv Used Car Loan, you can get a loan of up to Rs. 77 lakh. Whether you are eyeing a reliable hatchback or a stylish sedan, this substantial loan amount allows you to bring home your desired car with ease.
Quick disbursal: When you opt for used car loans offered by Bajaj Finance, you get the funds you need in just 48 hours* of approval. This quick disbursal facility allows you to drive home your dream car without any delay.
Flexible repayment options: One of the most compelling features of used car loans is its flexible repayment tenures. You can spread the cost of your car over a period of up to 72 months. This long repayment period allows you to repay your loan into small monthly instalments that are easy on your pocket.
Hassle-free application process: Bajaj Finance makes the loan application process easy and convenient. You can fill in the online application form with your basic details. Once you submit your application form, a representative from Bajaj Finance will reach out to you to guide you on further steps. You can also opt for the doorstep document collection facility and submit the required documents from the comfort of your home.
Obtaining a used car loan can be a viable financial solution to fund the purchase of your pre-owned car. If you are looking to get quick funds at competitive used car loan interest rates, Bajaj Finserv Used car Loan can be considered a perfect solution.
Visit the Bajaj Finserv website or download the Bajaj Finserv app to apply for a used car loan today.
*Terms and conditions apply
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