यूज़्ड कार लोन

Used car loans provide a gateway to affordable and efficient vehicle ownership. Whether you're upgrading your ride or entering the world of car ownership, used car loans open doors to quality vehicles without breaking the bank. With Bajaj Finserv Used Car Loans, you can get of up to ₹ 1.02 करोड़ and drive home your desired car with ease. We offer used car loans in 3 unique variants – Flexi Term Loan, Flexi Hybrid Loan, and Term Loan and choose the one that suits your need.

Understanding our Flexi Loan variants

Let us say you take out a used car loan for Rs. 2 lakh for 24 months. You pay regular monthly instalments for the first six months (EMIs). You would have paid back about Rs. 50,000 by now.

You need Rs. 50,000 for something that you did not expect. Just sign-in to our customer portal – My Account and borrow Rs. 50,000 out of your Flexi Term Loan account. You got a bonus of Rs. 1,00,000 three months later and would like to pay back some of your Flexi Term Loan. This time, all you have to do is go to My Account and pay back a part of your Flexi Term Loan.

With every withdrawal or deposit, your interest is automatically changed, and you only pay interest on the amount you still owe at any given point. Your EMI includes both the amount that you owe and the adjusted interest.

Unlike other loans, there are no fees or penalties for paying back your Flexi Term Loan or taking money out of your account. This version of a pre-owned car loan is perfect for the way people live now, when managing money can be hard to predict.

We offer another variant of Flexi Loan, which is Flexi Hybrid Loan. It works largely in the same way as a Flexi Term Loan with some additional features. With this variant, you can choose to pay interest-only EMIs for the initial part of the tenure. For the rest of the time, your second-hand car loan EMIs will consist of the interest and the principal.

Know all about our Term Loans

This is the same as any other used car loan. You take out a loan for a certain amount of money, which is then split into equal monthly payments that include both the principal and the interest. If you pay off your second-hand car loan before the end of its tenure, you will have to pay a part-prepayment or foreclosure fee.