5 reasons why you should choose a used car loan for your second-hand car purchase

Buying a car is a major milestone, but for many people, the upfront cost of a new vehicle can be a huge financial burden. That’s where second-hand cars come in—offering an affordable alternative to new cars. However, even though used cars come with a lower price tag, the cost can still be substantial. In such cases, a car loan for second-hand car or used car loan becomes a lifesaver. Instead of draining your savings, a used car loan makes it easier to purchase your dream vehicle by converting the cost of your second-hand car into small monthly instalments.

If you're wondering how to go about it, look no further than Bajaj Finserv Used Car Loan. Lenders like Bajaj Finance offer high-value used car loans that come with simple eligibility criteria and easy online process. Let’s explore five key reasons why choosing this loan is the perfect solution for your second-hand car purchase.

1.      High-value loan: One of the standout features of a Bajaj Finserv Used Car Loan is the high loan value it offers. Whether you're eyeing an affordable sedan or a more expensive model, Bajaj Finance can provide you with a loan of up to Rs. 1.02 crore. With this high-value loan, you won’t have to worry about paying a hefty sum upfront. You can get a larger loan to match the price of the car, making the purchase far more manageable. Instead of compromising on your dream car, you can drive away with it sooner than you thought.

2.     Flexible and long repayment tenures: Bajaj Finserv Used Car Loan comes with extended repayment tenure of up to 84 months. This allows you to spread the cost of your car over a longer period, making the loan more affordable. Longer repayment terms mean smaller monthly EMIs, which can significantly ease the financial load. Whether you're a first-time buyer or just managing your budget carefully, having a flexible repayment schedule means more control over your finances and the ability to make smaller, easier payments over time.

3.     Quick loan disbursal: Bajaj Finance offers used car loans with a quick disbursal facility. This means you can get the funds you need within 48 hours* of approval. This quick turnaround allows you to act fast on second-hand car deals, which are often time-sensitive. With quicker access to funds, you can complete the purchase process and get on the road sooner than expected, without any unnecessary delays.

4.     Simple eligibility criteria and minimal paperwork: The Bajaj Finserv Used Car Loan is designed to be simple and hassle-free. With minimal paperwork and a straightforward eligibility process, you won’t have to jump through hoops to qualify for the loan. This means less time spent on complicated paperwork and more time enjoying the excitement of purchasing your second-hand car.

5.     Easy online application process: When you choose a Bajaj Finserv Used Car Loan, you can benefit from the easy online application process. All you have to do is go to the used car loan page on the Bajaj Finserv website and fill in the online form with your basic details. Once you submit the form, a representative from Bajaj Finance will reach out to you to guide you on further steps. You can also benefit from the doorstep document collection facility and finish your paperwork from the comfort of your home.

With high loan amounts, flexible repayment terms, fast disbursal, and a competitive second-hand car loan interest rate, Bajaj Finance ensures a smooth and stress-free borrowing experience.

If you’re looking to buy a second-hand car but want a financing option that’s simple, fast, and affordable, Bajaj Finserv Used Car Loan is your perfect match. Don’t let the cost of a pre-owned car hold you back— go to the Bajaj Finserv website or download the app and start your used car loan application today.

*Terms and conditions apply

Disclaimer: This article is published in association with Bajaj Finserv and not created by TNM Editorial.