Do you want to buy a used car and are short of some funds? If yes, a used car loan is among the best alternatives to arrange money. A large number of people apply for a pre-owned car loan and get a significant amount to finance a used car. If you wish to know more about a used car loan, you can go through this post! Read on!
What is a used car loan?
A used car loan is an extension of the personal loan created to cater to your needs of bringing home a pre-owned car. As per your eligibility, you can get a loan approval of up to Rs.25 lakh. The best NBFCs for personal loans may be available with quick approvals and faster disbursements.
What are the benefits of a used car loan?
- A significant amount
You can get up to Rs.25 lakh to fund your used car. You can also use the remaining amount to meet any of your needs. There is no restriction on how you can use the loan money.
2. Quick approvals
If your creditworthiness is good, you can get the loan approval without waiting. The best NBFCs provide you with loan approval swiftly within minutes.
3. Faster money disbursements
After loan approval, you can expect the sanctioned funds into your bank accounts within 24 hours*.
4. Flexible repayment tenor
You don’t need to strain your wallets to make repayments for your used car loan. It is because reputed lenders let you repay it over a flexible repayment tenor of up to 60 months. You can check your loan eligibility and EMI by using online loan calculators. This way, you can be sure of an amount you will get and an amount you will repay as EMIs. Bajaj Finserv offers pre-approved deals on personal loans, home loans, business loans and more. It is to simplify loan processing and make it faster. You can check out your pre-approved loan offers today after sharing your basic details, such as your name and mobile number.
Must Read: Everything You Should Know About Used Car Loan