Loans24 (Cars24) vs Bajaj Finserv Used Car Loan: Which Is Better in October 2026?
60-Second Verdict
On loans up to ₹10 lakh, the two start almost identically (13.01% at Loans24 vs 13.00% at Bajaj Finserv), but Loans24 caps its published band 0.99 points lower at 15.01% (versus Bajaj's 16.00%). Above ₹10 lakh, Bajaj Finserv wins because Loans24's published grid covers loans up to ₹10 lakh only.
Loans24 (Cars24) vs Bajaj Finserv: Side-by-Side Comparison (October 2026)
| Parameter | Loans24 (Cars24) | Bajaj Finserv |
|---|---|---|
| Interest rate | 13.01% to 15.01% | 13.00% to 16.00% |
| Published loan cap | Up to ₹10 lakh | No ₹10L cap (up to ₹50L+) |
| Rate ceiling (≤₹10L) | 15.01% | 16.00% |
| Lender type | Auto-tech NBFC (Cars24 Financial Services) | Diversified retail NBFC |
| Best for | Digital-first loans up to ₹10 lakh | Loans above ₹10 lakh & existing Bajaj customers |
Who wins by loan amount and score
What the difference costs: on a ₹5 lakh, 5-year loan at each lender's ceiling (15.01% vs 16.00%), Loans24's lower cap saves ₹261 a month and ₹15,660 in interest.
| Scenario | Winner | Why |
|---|---|---|
| Up to ₹10L, CIBIL 750+ | Tie | 13.01% vs 13.00% (₹3/month difference on ₹5L) |
| Up to ₹10L, CIBIL 700–749 | Loans24 (Cars24) | Lower ceiling: 15.01% vs 16.00% |
| Above ₹10 lakh | Bajaj Finserv | Loans24's standard grid caps at ₹10 lakh |
When to pick Loans24 (Cars24)
Choose Loans24 (Cars24) when you are borrowing ₹10 lakh or less and want a tight 13.01%–15.01% band with automated car valuation.
When to pick Bajaj Finserv
Choose Bajaj Finserv when your loan exceeds ₹10 lakh or when you have a pre-approved Bajaj Finserv offer.
When neither Loans24 nor Bajaj Finserv is your best option — consider HDFC Bank
If you have a 750+ CIBIL score and salary slips, HDFC Bank (10.76% to 12.01%) saves over ₹33,000 on a ₹5 lakh loan compared to either NBFC. See HDFC Bank vs ICICI Bank. You can also compare all used car loan options on our 27-lender interactive calculator.
Related Lender Comparisons
Frequently Asked Questions (Loans24 vs Bajaj Finserv)
Can I get a Loans24 (Cars24) loan if I am not buying the car from Cars24?+
Yes, Loans24 (Cars24 Financial Services Pvt Ltd) is one of Nxcar's 27 lending partners and finances eligible used car purchases up to ₹10 lakh through Nxcar.
Is Loans24 or Bajaj Finserv cheaper on a ₹5 lakh loan?+
Their starting rates are virtually identical (13.01% vs 13.00%), but Loans24's maximum rate is 15.01% compared to Bajaj Finserv's 16.00%.
What if I need a ₹14 lakh used car loan?+
Pick Bajaj Finserv (13.00%–16.00%) or a private bank like Axis Bank (from 10.00%), because Loans24's published partner grid is capped at ₹10 lakh.