About Car Loan.
Car loans help fund the purchase of a new or used vehicle, with the vehicle typically held as security until the loan is repaid.
We help you compare broad funding options so you can plan your on-road budget with more clarity.
Why applicants choose
this route.
- ✓New car fundingGuidance on financing for new vehicle purchases.
- ✓Used car optionsUnderstand funding possibilities for pre-owned vehicles, subject to lender policy.
- ✓Refinance routeExplore whether refinancing an existing car loan may suit your situation.
- ✓Quick indicative processStreamlined guidance to help you move faster once documents are ready.
Broad eligibility
factors.
Actual eligibility, sanction amount and terms are decided solely by the concerned bank / NBFC based on their internal policy.
- ✓Age & incomeApplicants generally need to meet the lender's minimum age and income criteria.
- ✓Employment typeBoth salaried and self-employed applicants may apply, subject to policy.
- ✓Credit profileA reasonable credit history typically supports the application.
- ✓Vehicle criteriaFor used cars, the vehicle's age and condition are usually assessed.
Documents typically
requested.
Rate & fee
pointers.
Figures below are illustrative starting points only and vary by lender, profile and policy at the time of application.
| Aspect | Typical Range* |
|---|---|
| Loan tenure | Typically up to 7 years for new cars |
| Funding | Up to ~85–90% of on-road price, per lender |
| Processing fee | Varies by lender |
| Used car tenure | Generally shorter, per vehicle age & policy |
How the enquiry
moves forward.
Share your requirement
Tell us the loan type, city and approximate amount you need.
Understand your options
We explain broad eligibility factors, likely documents and the applicable process.
Move forward confidently
Proceed with the relevant lender's process, with guidance at each step.
Common questions on
car loan.
Can I finance a used car?+
Yes, many lenders offer used-car finance, though the amount and tenure may differ from new-car loans.
What is typically funded?+
Lenders usually fund a majority of the on-road price; the exact percentage depends on the lender and applicant profile.
Can I prepay my car loan?+
Prepayment terms vary by lender and should be checked in the loan agreement.
Is insurance mandatory?+
Comprehensive insurance is typically required for the loan tenure as the vehicle is held as security.