I have dealt with this company 2 times.
I have both positive and negative things to say about them.
The first time I used their service in 2011 when I bought my bike Discover 100cc. The second time was when I bought my Pulsar 220F in 2014.
Pros:
The best thing about this company is that their approval process is very fast & simple compared to others.
Once you have submitted your documents, they take around 24-48 hours to approve your application. That’s a good thing. Besides, their requirements are also very less.
On the other hand, other companies, especially Hero require so much paperwork and are complicated that you would feel repelled from dealing with them. If you want to buy a vehicle and are desperate about getting it and can’t afford to pay the full amount, Bajaj auto finance is the best option for you. But there’s a catch.
Cons:
I think that Bajaj Auto Finance rips you badly when it comes to interest rate. The EMI has the interest rate hidden in it and if you calculate the amount you wll see that in 3 years you would have paid more than 50% of the financed amount as interest.
In fact, most other auto finance company’s rip you off at 50% of the financed amount in 3 years.So, it is a more reasonable thing to buy your vehicle only if you have the full cash amount. Otherwise, be ready to get looted by these companies which are making a fortune out of your hard work in feeding their fat bellies.
If you miss an EMI, you have to pay around Rs. 350 as fine and these guys will call up all your references and cry foul about you. This is another reason you want to avoid them.
Customer Service:
When it comes to customer service, they have a state number to help you. But it is actually their central office and the guys at the central office don’t have much coordination with their local office in your city. The two will talk different things.