What is the loan tenure for a Pre-owned Two-Wheeler Loan?

The loan tenure for a pre-owned two-wheeler loan generally depends on the loan provider, applicant’s profile, and the age of the vehicle. Below are some key points about the loan tenure for such loans:

• Typically, the loan tenure ranges from 1 year to 3 years for most used two-wheeler loans. Some financial institutions may offer tenure of up to 4-5 years as well.
• Short-duration loans of 1-2 years are more common for financing old used two-wheelers. For relatively newer used two-wheelers, 2-3 year loans are usually given.
• Generally, public sector banks and Non-banking Financial Companies (NBFCs) offer loan tenures of 12 months to 36 months for used two-wheelers.
• Private banks may offer slightly longer tenures, from 48 months to 60 months in some cases, depending on the vehicle's condition and ownership history.
• The loan amount also impacts the tenure. For lower loan amounts, shorter 12-24 month tenure is typically common. For higher loan values, a longer tenure of 2-3 years is possible.
• Applicants with good credit history and income stability typically may be able to negotiate longer loan tenure options with loan providers.
• Those with poor or limited credit history are usually only given shorter tenure loan options for used vehicles.