A loan to buy a New/Used Car which is based on the borrower’s integrity and ability to pay. Car loan is normally used to purchase New/used car, commercial vehicles, etc. Bank/NBFC offers Car Loan up to 95% value of ex-showroom price and it can be repaid over a period of 12 months to 84 months. Loan amount you are eligible for and the interest rate you will be charged are dependent on factors such as monthly income, the value of car, customer’s employment history and past financial credit history with pattern.
- ID proof (PAN Card, Driver’s license, Voter ID, Passport, Aadhar).
- Address proof (Electricity bill, Telephone bill, Ration card, Bank statement, Credit card statement).
- Passport Size Photo.
- 3 month’s Salary slips.
- 6 month’s Bank statement.
- Last 2 years form 16.
- Form 16/ITR for last 2 years.
- Quotation of car.