“Unlock the Road to Your Dream Car – With the Right Loan in Your Pocket!”
Your dream car isn’t far – just a smart car loan away! Learn everything you need to know before you apply.
What is a Car Loan?
A car loan is a secured loan that helps individuals purchase a new or used car by borrowing a specific amount from a bank or finance company. The car itself acts as collateral until the loan is fully repaid.
So instead of spending your savings all at once, you can pay back the cost in affordable monthly instalments!
Types of Car Loans
|
Loan Type |
Best for |
Key features |
|
New Car Loan |
Buying a brand –new car |
Lower Interest rates, longer tenures |
|
Used Car Loan |
Buying a second-hand car |
Higher Interest but lower loan amount |
|
Loan against Car |
Need funds using existing car |
Use your car as security to get quick money |
Car Loan Process – Step-by-Step
Here’s how your car loan journey typically looks like:
Eligibility Criteria – Are You Eligible?
For Salaried Individuals:
- Age: 21 to 60 years
- Monthly Income: Rs.15,000 or more
- Job Stability: Minimum 1 year of employment
For Self-Employed Individuals:
- Age: 21 to 65 years
- Business Vintage: At least 2 years
- Proof of steady income via ITRs
Documents You’ll Need
|
Document Type
|
Examples
|
|
Identity Proof |
Aadhar, PAN, Passport |
|
Address Proof |
Electricity bill, Rent Agreement |
|
Income Proof |
Salary slips, ITRs, Bank Statements |
|
Vehicle Info |
Quotation / Proforma Invoice |
|
Others |
Passport size photo, application form |
Interest Rates & Loan Tenure
Interest Rates: Starting from 7.5% to 14% p.a.
Tenure: 1 to 7 years
Loan Amount: Up to 100% of ex-showroom price (based on profile)
Pro Tip:
Improve your credit score (700+) before applying. A better score means lower interest and better terms.
Why Should You Consider a Car Loan?
✔️ No need to compromise on your dream vehicle
✔️ Easy monthly repayment options
✔️ Quick disbursal with minimal paperwork
✔️ Build credit history over time
Final Thoughts
Whether you’re salaried or self-employed, a car loan can turn your vehicle dream into a reality – without draining your finances. Just compare offers, check your eligibility, and go for it smartly.
Why Deepmoney Finserve Pvt. Ltd.?
- PAN India network of trusted partners
- Quick processing with minimal paperwork
- Tie-ups with top lenders
- Make dreams come true!
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