A Car Loan is a type of financing provided by banks and financial institutions that helps individuals purchase a new or used vehicle without paying the full cost upfront. The lender pays the vehicle amount on your behalf, and you repay the loan through monthly installments (EMIs) over a fixed period.

Loan Amount Up to ₹1 Crore

Financing Up to 90% of On-Road Price

Repayment Tenure Up to 7 Years

New & Used Car Loans

Prepayment & Foreclosure Options

Purchase a New Car

Buy a Used Car

Family Transportation

Business Purposes

Commercial Vehicle Upgrade

Purchase Premium or Luxury Cars

✔ Age: 21 to 65 years
✔ Salaried or Self-Employed Individuals
✔ Stable Income Source
✔ Good Credit Score Preferred
✔ Indian Resident

For Salaried Individuals

• PAN Card
• Aadhaar Card
• Passport Size Photograph
• Last 3 Months Salary Slips
• Last 6 Months Bank Statement
• Address Proof

For Self-Employed Individuals

• PAN Card
• Aadhaar Card
• Business Proof
• Income Tax Returns
• Bank Statements
• Address Proof

Can I get a loan for a used car?

Yes, car loans are available for eligible used and pre-owned vehicles.

What is the maximum tenure for a car loan?

Most lenders offer repayment tenures of up to 7 years.

Can self-employed individuals apply?

Yes, both salaried and self-employed individuals can apply for a car loan.

How much down payment is required?

The down payment depends on the lender and vehicle type. Generally, lenders finance up to 80%–90% of the vehicle value.

What credit score is required?

A credit score of 700+ is generally preferred, though eligibility varies by lender.

Income Level

Your monthly income is one of the most important factors. Higher and stable income increases your ability to repay the loan and may help you qualify for a larger loan amount.

 Credit Score

A good credit score demonstrates responsible financial behavior and improves your chances of loan approval. Most lenders prefer a CIBIL score of 700 or above.

 Employment Stability

Lenders prefer applicants with stable employment or a consistent business income. A longer work history often strengthens your loan application.

 Age of the Applicant

Most lenders require applicants to be between 21 and 65 years of age. Your age can influence loan tenure and eligibility.

 Existing Financial Obligations

Current loans, credit card balances, and other financial commitments affect your repayment capacity. Lower debt levels generally improve eligibility.

 Vehicle Type and Value

The make, model, age, and value of the vehicle influence the loan amount and financing percentage offered by the lender.

 Loan Tenure Chosen

A longer repayment tenure may increase eligibility by reducing monthly EMI obligations, while a shorter tenure may require a higher repayment capacity.

Residential Stability

Applicants with a stable residential address and longer residence history are often viewed more favorably by lenders.

Documentation Completeness

Providing accurate and complete documents helps speed up verification and improves the likelihood of loan approval.

Employment Type             

Both salaried and self-employed individuals can apply, but eligibility criteria may vary depending on the nature and stability of income.

Relationship with the Lender

Existing customers with a good banking relationship may receive faster approvals and better loan offers.

Step 1: Submit Your Application

Fill out the online application form with your personal and financial details.

Step 2: Document Verification

Our team verifies your documents and eligibility.

Step 3: Loan Approval

Receive approval from leading banks and financial institutions.

Step 4: Loan Disbursal

The approved loan amount is disbursed, and you can purchase your dream car.