5 reasons why you should opt for car loan balance transfer

Auto5 reasons why you should opt for car loan balance transfer

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Car loan balance transfer may be a wise choice that provides you with better terms, reducing the burden of EMIs and making your repayments easy.

Buying a car requires access to funds and most of us rely on loans to fulfil this dream. However, while you are repaying your loan, the lending market conditions may change, and the terms of your existing car loan may no longer be favourable for you. In such a situation, opting for a car loan balance transfer may be a worthy option as it helps you to get better terms. 

This facility offers several advantages including competitive interest rates, better repayment tenure options and more. Apart from these primary benefits, some lenders like Bajaj Finance offer a top-up loan based on your car’s value. This feature provides you with surplus funds that can help you manage expenses such as routine upkeep and maintenance of your car. Additionally, the car loan balance transfer offered by Bajaj Finance comes with simple eligibility criteria and minimal documentation requirements making it an ideal solution for borrowers.

Here are the 5 reasons why you should opt for Bajaj Finserv Car Loan Balance Transfer and Top-up

High-value top-up loan

When you choose a car loan balance transfer offered by Bajaj Finance, you can get a substantial loan amount of up to Rs. 47 lakh as top-up. You can use these funds to give your car a new look or upgrade the feature list with a new reversing camera, headlight or more.

Loan repayment tenure

Bajaj Finserv Car Loan Balance Transfer and Top-up comes with flexible tenure options that allow you to repay your loan over a period of up to 72 months. This long tenure allows you to split your existing car loan into affordable monthly installments.

3 unique variants

Bajaj Finserv Car Loan Balance Transfer and Top-u is offered in three unique variants – Term Loan, Flexi Term Loan and Flexi Hybrid Loan. Both the Flexi Loan variants come with a pre-sanctioned limit that allows multiple withdrawals and a free part-prepayment facility. Car loan balance transfer interest rate is charged only on the funds you borrow and not the entire limit. You can also part-prepay your Flexi Loan as many times as you can at no additional cost. With Flexi Hybrid Loan, you get the additional feature of paying interest-only EMIs for the initial tenure.

Quick processing

Transferring your existing car loan to Bajaj Finance is quick and hassle-free. You can transfer your existing loan and get the top-up amount in just 48 hours* of approval. This expedited processing enables you to enjoy the benefits of the revised terms at the earliest. In addition to this, quick disbursal of the top-up amount ensures that you can easily manage your unforeseen expenses related to your car.

Doorstep document collection

Bajaj Finance provides a doorstep document collection facility making the process of transferring a car loan convenient. You can easily schedule an appointment and submit your documents to our representative without stepping out of your home.

Opting for a car loan balance transfer can be a smart decision as it helps you to benefit from the better terms. Bajaj Finserv Car Loan Balance Transfer and Top-up with its competitive interest rates and customer-friendly process makes it a perfect solution for borrowers.

*Terms and conditions apply

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