Car loan interest rates starting at just 7.30% per annum and repayment options up to 8 years, you have a variety of options to choose from to find the perfect loan for your vehicle needs. You can finance up to 90-100% of the on-road cost of your car, and even avail pre-owned car loans that are processed quickly.
All leading private and public sector banks provide car loans at competitive rates of interests. Through these loans, you can buy your dream car – whether hatchback, sedan, or luxury and pay off the loan over some time.
As many banks provide up to 100% finance on ex-showroom price, you don’t have to wait long to buy your dream car.
Financial institutions offer car loans with a repayment tenure of up to 7 years, providing you with the flexibility to choose the duration that suits your needs.
Many banks offer loans on used cars these days. Although the interest rate will be higher than the interest rate on new car loans and the loan-to-value (LTV) ratio will be lower than the new car loan.
Unlike home loan in case of car loan you have the flexibility to negotiate the interest rate with your lender if you have a good credit score and have good relationships with the bank.
To avail a car loan, you do not have to provide any additional collateral as your vehicle acts as security for the loan. If you are unable to make payments, the bank has the right to seize and sell the vehicle to recover the funds.
You can choose to pay through post-dated cheques or use the auto debit facility where your equated monthly installments (EMIs) will be automatically deducted from your bank account.
Now apply for a Car Loan online, All you need to do is provide your details below application form.
