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What is a Used Two Wheeler Loan?
A Used Two Wheeler Loan is a smart financing option designed for those looking to purchase a pre-owned bike or scooter without straining their budget. Unlike regular Two Wheeler Loans that apply only to brand-new vehicles, this loan is designed for those who want a cost- effective alternative without compromising on quality.
Whether you are a first-time buyer, need an additional vehicle for daily use, or simply want a reliable vehicle at a lower cost, our Used Two Wheeler Loans makes ownership easy and affordable. With competitive interest rates, convenient repayment options, minimal paperwork, and quick approvals, our loan makes it easier than ever to own a quality used bike or scooter. Whether you need a reliable scooter for city rides or a sturdy motorcycle for longer trips, choose from a wide range of used bikes and scooters and ride stress-free with our hassle-free financing.
Key Features and Benefits of Used Two Wheeler Loans
We know that owning a two wheeler adds convenience, freedom, and efficiency to your daily life. That’s why our Used Two Wheeler Loans provide the financial support you need to buy a pre-owned bike or scooter that suits your lifestyle. Our loans are designed to be flexible, affordable, and accessible, ensuring a smooth and hassle-free experience from application to repayment.
Maximum Funding
Get up to 90% financing on your used two wheeler vehicle valuation.
Minimal Processing Fees
Enjoy minimal processing fees on our Used Two Wheeler Loans for maximum savings.
Flexible Repayment
Experience easy and flexible monthly repayments with our Used Two Wheeler Loans.
No Hidden Charges
Our Used Two Wheeler Loans come with no hidden costs, ensuring transparency.
Quick Loan Process
Enjoy quick and hassle-free loan approval for financing your used two wheeler.
Minimal Documentation
Avail hassle-free, minimal documentation for faster processing of your Used Two Wheeler Loan.
Charges on Used Two Wheeler Loans
| Schedule of Charges | Charges (inclusive of GST) |
|---|---|
| Processing Fees | Up to 5.9% |
| Penal Charges (excluding GST) | 36% per annum on unpaid installment |
| Foreclosure Charges | a) Remaining Loan Tenure is <=12 months: 3% on principal outstanding b) Remaining Loan Tenure is from >12 to <=24 months: 4% on principal outstanding c) Remaining Loan Tenure is >24 months: 5% on principal outstanding |
Other Charges |
| Cheque Bounce Charges | Maximum Rs.750 |
| Duplicate NDC/NOC Charges - physical copy | Rs.500 |
For a complete list of charges, please click here
Eligibility Criteria for our Used Two Wheeler Loans
Thinking about the required documents for availing a Used Two Wheeler Loan? Check the eligibility criteria based on your employment type and experience easy documentation. You should meet the below mentioned eligibility criteria before applying for a loan.
Documents required for our Used Two Wheeler Loans
Here is the list of documents that you must provide to apply for our Used Two Wheeler Loan
Frequently Asked Questions
A Used Two Wheeler Loan helps you buy a pre-owned motorcycle or scooter, spreading the cost of the vehicle over a fixed period, making it easier to manage your finances while enjoying the benefits of owning a two wheeler.
Approval typically happens within one day once all documents are submitted.
Flexible tenures from 6 to 60 months are available to suit your financial situation.
Generally, we finance Used Two Wheeler Loans vehicles up to ten years old including the current loan tenure.
At TVS Credit, self-employed or salaried individuals are eligible to apply for a Two Wheeler Loan. Check out the eligibility criteria for the Used Two Wheeler Loan.
You can click here to check the documents required to avail a Used Two Wheeler Loan.
