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Entered Car Price : ₹ 50,000
Your loan Amount : ₹ 0
Years
2 years
Interest
18 %
Buying a used bike in India is an economical way to own a two-wheeler. Used bike loans provide affordable financing options for pre-owned motorcycles and scooters.
Calculate your used bike loan EMI to plan your budget effectively. Use our Used Bike Loan EMI Calculator to get instant and accurate results for your pre-owned two-wheeler purchase.
A Used Bike Loan EMI is the fixed monthly amount you pay to the lender, which includes:
Used bike loans typically have higher interest rates compared to new bike loans due to the vehicle's age, condition, and higher risk factor.
E = [P × R × (1+R)^N] ÷ [(1+R)^N – 1]
Where:
E = EMI amount
P = Principal loan amount
R = Monthly interest rate
N = Loan tenure in months
Example: For a ₹50,000 used bike loan at 18% interest for 2 years: ₹2,541 per month.
Get your exact EMI instantly and plan your used bike purchase!
Q1. What is the typical used bike loan interest rate?
Used bike loan interest rates typically range from 15% to 22% per annum, depending on bike age and condition.
Q2. What is the maximum used bike loan tenure?
Most banks offer used bike loans for up to 3 years, depending on the vehicle's age.
Q3. Can I get a loan for a very old bike?
Most lenders have age restrictions (typically 3-5 years) for used bike loans.
Q4. What documents are required for used bike loan?
KYC documents, income proof, bank statements, RC copy, insurance papers, and vehicle inspection report.
Q5. Is down payment required for used bike loans?
Yes, typically 15-25% down payment is required for used bike loans.
Q6. Can I get a used bike loan with low credit score?
Some lenders offer used bike loans even with lower credit scores, though interest rates may be higher.