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Loans for Pre-Owned Two-Wheelers
Finance Your Pre-Owned Ride Hassle-Free
Buying from a dealer or an individual seller? Get high-LTV financing on pre-owned two-wheelers.
65+
Lending Partners
Rs.65k Cr+
Loans Disbursed
Why Choose Six Finance?
Experience hassle-free borrowing with flexible loan options, instant credit tracking, and rapid approvals designed around your unique financial journey.
Flexible Repayment Plans
Life changes, and your loan should adapt with it. We offer customizable repayment schedules and loan amounts designed to fit comfortably within your budget.
Fast, Secure & Transparent
Apply with complete peace of mind. Our streamlined, bank-grade encrypted platform ensures lightning-fast approvals while keeping your data strictly protected.
Personalized Financial Solutions
We look beyond the numbers to understand your story. Enjoy a borrowing experience that is custom-tailored specifically to your unique financial goals and needs.
Loan Details
Used Bike Loan Calculator
Calculate your EMI and total interest for used bike loans.
Instant Approval
No Hidden Charges
100% Digital Process
Representative Example:
Borrow ₹5,00,000 over 12 months at 9.99% APR. Total repayment: ₹5,27,467.42 with monthly EMIs of ₹43,955.62.
EMI Calculator
Select Your Bank
Enter Loan Amount
₹5,00,000
50K50L
9.99
8%30%
1
1Y10Y
Monthly EMI
₹43,955.62
Total Interest
₹27,467.42
What is a Used Bike Loan?
A used bike loan helps you finance the purchase of a second-hand two-wheeler. Lenders sanction the amount based on the vehicle's current valuation and condition.
Repayment tenures are generally shorter compared to car loans, ranging from 1 to 3 years. The interest rate varies based on the age of the bike and borrower profile.
Eligibility criteria:
- Vehicle valuation report
- Bike age (usually < 5-7 years)
- Income proof (Salary slip/ITR)
- Valid driving license & KYC
This is an affordable way to own a premium bike or scooter without the high upfront cost of a new vehicle.
Easy Finance for Two-Wheelers
Need a reliable ride for your commute? Our Used Bike loans are designed for quick approval with minimal paperwork, ensuring you get on the road immediately.
Why Apply for Used Bike Loan?
- Low down payment options
- Minimum documentation required
- Instant approval for pre-verified customers
- Flexible EMIs suited for every pocket
- Funding for bikes up to 5 years old
- Quick disbursement
Financial Guide
Used Bike Loan Rates
Interest rates for used two-wheelers are generally high, ranging from 18% to 24% p.a. due to higher risk.
Tips for Used Bike Finance
Getting a loan for a used bike is quick but check the terms:
1
Down Payment
Expect to pay 30-40% of the bike's value as a down payment. 100% funding is rare for used bikes.
2
Short Tenure
Tenures are usually capped at 2-3 years. Ensure the EMI fits your monthly budget.
3
Documentation
Keep address proof and income proof ready. Some lenders offer loans based on KYC only but at higher rates.
4
Condition Check
Lenders may physically verify the bike's condition. Ensure the engine and chassis number match the RC.
5
Hypothecation Removal
Check if the previous owner had a loan. Ensure they have the NOC and the previous hypothecation is removed from the RC.
Used Bike Loan Eligibility
Eligibility criteria Simple criteria for two-wheeler finance:
Age: 18–60 years.
Income: Minimum Rs. 10,000–12,000 per month.
Residence: Stable residence proof (owned or rented).
Bike Condition: Vehicle valuation and physical verification are mandatory.
Credit Score: 650+ preferred.
Used Bike Loan Options
Affordable mobility solutions for pre-owned two-wheelers.
Used Bike Loan Docs
Documents required to finance a pre-owned two-wheeler.
| Requirements | Buyer | Vehicle Details |
|---|---|---|
| Identity | PAN, Aadhaar, Current Address Proof | Copy of RC Book |
| Income | Bank Statement / Salary Slip (if loan > 50k) | Valid Insurance Copy |
| Transfer | Passport Size Photos | RTO Transfer Forms |
Used Two-Wheeler Tips
High Interest Rates
- Often range between 18% to 24%.
- Check if a credit card EMI is cheaper.
Condition Verification
- Physical verification of engine/chassis number is done.
- Insurance must be valid and transferred.
Hypothecation Removal
- Ensure previous owner has cleared their loan.
- Check for NOC if the bike was previously financed.
Loan Amount
- Banks fund 60-70% of the valuation.
- Be ready with a substantial down payment.
Used Bike Finance Fees
Charges for financing pre-owned two-wheelers:
| Particulars | Charges |
|---|---|
| Processing Fees | 3% of loan amount or min ₹ 1,000 |
| Documentation | ₹ 500 |
| Valuation Fee | ₹ 300 - ₹ 500 |
| Stamp Duty | As per state actuals |
| Foreclosure | 4% to 5% of outstanding |
Other fees and charges levied by the lenders include documentation charges, verification charges, duplicate statement charges and NOC certificate charges.
Used Two-Wheeler Loans
Get on the road quickly with these finance options for used bikes.
| Lender | Interest Rate |
|---|---|
| BikeBazaar | 18.00% onwards |
| IDFC First Bank | 16.00% onwards |
| Shriram Finance | 19.00% onwards |
Used Bike Loan vs Personal Loan
Comparing financing options for two-wheelers.
| Used Bike Loan | Personal Loan |
|---|---|
| Very high interest (18-24%) | Moderate interest (11-16%) |
| Vehicle is collateral | No collateral |
| Physical verification required | Digital verification |
| Down payment required | 100% funding possible |
Things to Consider
Interest rates are high (18-24%).
LTV is usually capped at 60-70% of valuation.
Physical verification of the bike is mandatory.
Application Steps
Ensure the bike has valid insurance.
Apply with KYC and income proofs.
Bank verifies the asset condition.
Funds are transferred to the seller.
How to Calculate Used Bike Loan EMI Online?
You can calculate your used bike loan EMI using a free online used bike loan EMI calculator. You just need to enter your interest rate, loan amount and tenure in the calculator to get instant and accurate results.
Financing vs Cash Purchase
Used bikes are cheaper, but financing them attracts high costs.
| Parameter | Used Bike Loan | Cash / Personal Savings |
|---|---|---|
| Cost of Ownership | High (Interest 18-24%) | Lowest (No Interest) |
| Ownership | Hypothecated to Bank | Direct Ownership |
| Insurance | Comprehensive Mandatory | Third-Party Sufficient |
| Documentation | KYC, Income & Asset Check | Immediate Transfer |
Two-Wheeler Stories
Vijay Kumar — Daily Commute
"Public transport was taking too long. I bought a used bike for Rs. 60,000. The loan was approved instantly with just my Aadhaar and Pan card."
Arjun R. — College Ride
"Got a second-hand bike for college. My father was the co-applicant. The EMI is very low, around Rs. 2000, which fits my pocket money."
Financing a Used Two-Wheeler
Quick tips for getting a loan for a second-hand bike:
- Be ready with a down payment of at least 30-40%.
- Ensure the engine and chassis number match the RC.
- Check the validity of the insurance policy.
- A credit score of 700+ helps negotiation on interest rates.
- Keep address proof documents ready for verification.
Used Bike Loan Facts
- High interest rates (18-24%) due to higher risk.
- Short tenures of 12 to 36 months.
- Physical verification of the bike is mandatory.
- Some lenders may require a guarantor.
- Ownership transfer must be completed at the RTO.
Two Wheeler Loans
Two Wheeler Financing Options
Ride your dream bike with our flexible financing options for both new and used two wheelers. Low interest rates and quick approval process.
Used Two Wheeler Loan
Finance your pre-owned bike with attractive interest rates. Quick approval and minimal documentation for certified used two wheelers.
New Two Wheeler Loan
Get your brand new bike with easy financing options. Low interest rates, zero down payment options, and quick disbursement.
Used Bike Loan Verification Signals
Reviewed by Six Finance editorial and credit-analysis team · Last updated: 2026-01-15
Intent-specific checkpoints
- Validate RC, insurance, and service history before financing request.
- Use lender valuation as the base for realistic EMI and loan amount.
- Check age and condition filters that affect sanction and pricing.
- Plan ownership transfer and NOC closure to avoid registration delays.
Methodology and compliance notes
- Used-bike guidance reflects common two-wheeler underwriting constraints.
- Indicative outcomes depend on model year, region, and borrower credit profile.
- Funding assumptions include standard processing and documentation workflows.
- Lender rules and valuation engines may differ across financing partners.
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