Basic Guide For Car Loans in India

With commuting hassles increasing day by day, the demand for four wheelers is increasing too. Everybody is looking for an option where they have the freedom to set out anytime, anywhere. A car is a solution to this problem. But getting a car in the house is a big expense. You might think twice before investing so much money.

But now, you no longer need to stress about the finances for your car. Whether it is a new car or a used car, you can avail a car loan for it.

What is a Car Loan?

A Car loan is a loan which helps you to finance your car purchase. By taking a loan, you repay the car’s cost in monthly installments with added interest. You can avail a used car loan or a new car loan depending on what kind of a car you are buying. These types of loan are provided by Banks or NBFCs.

Features of A Car Loan

1. Interest Rate

With growing demand for car loans, interest rates for car loans are competitive and fit your pocket. There are many lenders which offer car loans at affordable interest rates. Car loan interest rates start at as low as 9%.

2. Loan Tenure

You can choose the tenure for your car loan as per your repayment capacity. Car loan tenure ranges from 3-24 months.

3. Minimal Documentation

Car loans these days involve minimal documentation. Banks or NBFCs only ask for basic documents such as the personal identity documents, address proofs, bank statements etc.

4. Quick Process

You can now apply for car loans online. Online loans have now made the loan approval and disbursal process quick and easy. This eliminates the task of visiting the branches of the Banks or NBFCs.

5. Eligibility and Documentation

Every Bank or NBFC has an eligibility criterion which you have to fulfill. If you do not meet the criteria, then you are not eligible for the loan. There are a lot of factors such as your credit score, monthly income, credit history, age, nationality etc. which encompass the eligibility criteria.

Benefits of Availing a Car Loan with Indiabulls Dhani

  • Indiabulls Dhani offers the service of availing the car loan online itself. You can visit our website or download the mobile and apply for a car loan
  • The process is hassle free
  • You get an instant approval and the money is disbursed in minutes
  • Paperless and minimum documentation
  • We offer competitive interest rates. They start at 11.99%
  • The loan tenure ranges from 3-24 months
  • Our car loan emi calculator helps you get an estimation of your EMIs

So whether it is a second hand car loan or a new car loan, these loans help you to finance your car conveniently with instant funds.

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