NewsVoir
Pune (Maharashtra) [India], November 1: Bajaj Finance has redefined financing for second-hand car purchases with its high-value used car loan of up to Rs 77 lakh. This loan product is designed to provide financial flexibility to customers allowing them to make their dream car a reality.
Whether it's a luxury sedan or a powerful SUV, Bajaj Finserv Used Car Loans opens a world of possibilities. With this loan product, individuals can apply online and get funds without the hassle of a lengthy and cumbersome process.
Here are the key features of Bajaj Finserv Used Car Loan.
High-value financing
With Bajaj Finserv Used Car Loan, individuals can get up to Rs. 77 lakh to fund their second-hand car purchases. This high-value loan gives the flexibility to customers to purchase their dream car without any budget constraints.
Loan up to 100% of the car's value
Bajaj Finance offers asset-based used car loans of up to 100% of the car's value. This feature guarantees that the customers get the highest possible funding for their car purchases. This allows individuals to buy their dream car without putting pressure on their finances.
Three unique loan variants
Bajaj Finance offers three used car loan variants - Term Loan, Flexi Term Loan, and Flexi Hybrid Loan. If the customer chooses any of these Flexi Loan variants, a loan limit is assigned to them. Customers can withdraw funds from this approved limit as and when required. However, interest is charged only on the amount withdrawn and not the entire limit. Flexi variants also allow customers to part-prepay their loans without any additional cost. A Flexi Hybrid Loan comes with the additional feature of paying interest-only EMIs for the initial tenure.
Quick disbursal facility
With a Bajaj Finserv Used Car Loan, customers get quick disbursal facility that ensures the loan amount is credited to their bank account within 48 hours* of loan approval. This allows customers to purchase their selected used car without any delay.
Minimal documentation
Bajaj Finserv Used Car Loans come with simple eligibility criteria and minimal documentation. Customers need to submit just a handful of documents to get their loan application approved. These include KYC documents, PAN card, salary slips, bank statements, and more.
Flexible repayment tenure
Bajaj Finserv Used Car Loans come with flexible repayment tenure of up to 72 months. This long tenure allows customers to repay their loans easily without putting stress on their monthly budget.
Pre-approved offers
Existing customers who meet the eligibility criteria for a used car loan can get quick access to funds with exclusive pre-approved offers. Customers can simply enter their valid mobile number and OTP to check their offer. New customers can complete the simple online application form and proceed.
Bajaj Finserv Used Car Loan also provides additional facilities such as doorstep assistance to complete the loan application, which includes document collection. With its high-value loan, no hidden charges and swift disbursal of funds, Bajaj Finserv Used Car Loans provides a convenient solution for funding the purchase of a pre-owned vehicle.
*Terms and conditions apply
Bajaj Finance Ltd. ('BFL,' 'Bajaj Finance,' or 'the Company'), a subsidiary of Bajaj Finserv Ltd., is a deposit-taking Non-Banking Financial Company (NBFC-D) registered with the Reserve Bank of India (RBI) and is classified as an NBFC-Investment and Credit Company (NBFC-ICC). BFL is engaged in the business of lending and acceptance of deposits. It has a diversified lending portfolio across retail, SMEs and commercial customers, with a significant presence in both urban and rural India. It accepts public and corporate deposits and offers a variety of financial services products to its customers. BFL, a thirty-five-year-old enterprise, has now become a leading player in the NBFC sector in India and on a consolidated basis, it has a franchise of 72.98 million customers. BFL has the highest domestic credit rating of AAA/ Stable for long-term borrowing, A1+ for short-term borrowing and CRISIL AAA/ Stable & [ICRA]AAA(Stable) for its FD program. It has a long-term issuer credit rating of 'BBB-/Stable' and a short-term issuer credit rating of 'A-3' by S&P Global Ratings.
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