Car Loan

Car Loan – Today We Will Know The Complete Details Of Car Loan Kaise Le and How Easy Is It To Get A Car Loan

Car Loan

Car Loan – Every person has a dream that he has his own house and his own car in which he can travel with his whole family, but this dream is fulfilled by many people.

People build a house by investing their whole life’s earnings, but then they are unable to buy a car. Keeping this in mind, the bank provides loan facility to those people to fulfill their dream, which we call Car Loan.

What is Car Loan

What is Car Loan?

Car Loan Details in Hindi :- Car loan is such a loan with the help of which you can buy the car of your dreams. You don’t have to do much for the car, you just have to fill a form for the car loan by taking the information about the car of your choice and you get the car loan.

Car Loan Information 

How much can we take a car loan?

The bank gives you a loan of up to 80% of the value of your car, where the showroom price is considered as the base of the value.

To buy a car, apart from the Showroom Price, you have to pay many other charges, which add up to the cost of the car, so banks give you loans only at the Showroom Price. But there are some banks that also cover all the charges on your car in the loan.

Where to take Car Loan for Car?

In today’s time, you get the facility of Car Loan at every Car Showroom, so whatever car you want to take. Go to the showroom of that car and like the car, after that a person will come to you himself and give you information about the car loan and you can also take a car loan with his help.

If this is not there, then keep the information of the car and after that go to the bank and apply for the car loan.

Important bank for Car Loan.

1. If you want to take loan from State Bank of India (SBI) then click

2. If you want to take loan from ICICI Bank then click this

3. If you want to take loan from HDFC Bank then click here.

Not only from the bank, you can also take a loan from a company like Mahindra Finance. Which gives you car finance.

Car Loan Eligibility

Car loan also depends on your credit score and income. If you are taking a loan from any bank or finance company to buy a car, then you will have to give them income proof and they will also see whether you can repay the car loan. Only after seeing all this you will get the car loan.

Car Loan Interest Rate

You get two types of interest rates on the car loan.

1. Fixed Interest Rate

2. Floating Interest Rate

Car loan interest rates keep on changing but this interest rate also depends on your CIBIL Score.

The interest rate of all banks is different, you can see the interest rate of some important banks.

1. You can check the State Bank of India (SBI) car loan interest rate here.

2. You can check ICICI Bank car loan interest rate here.

Tenure on Car Loan.

The tenure of a car loan is generally 3 to 5 years but some banks offer you a tenure of up to 7 years depending on the cost of your car.

But the longer the tenure of your loan, the higher will be the amount of your EMI.

Can I sell a car after taking it on loan?

While taking a car loan, the car is hypothecated in the name of the bank, so we cannot sell the car until we repay the full amount.

Recurred Documents For Car Loan 

Zincways required for car loan.

1. Identity Proof

2. Aadhaar Card

3. Pan Card

4. Address Proof

5. Income Proof

Car Loan for Old Cars

Car Loan for Used Car

Car loan is not available only for new car, if you want, you can also take car loan to buy old car.

Many banks give you Old Car Loan for OLd Car, you can see this for this. It gives you SBI car loan against old car up to 5 years.

Old Car Loan Interest Rate

old car interest

Old Car loan charges more interest than New Car loan, so if you apply for a car loan for an old car, you may have to pay a higher interest rate for it.

Car Loan Tax Benefits

Is there any tax benefit available on Car Loan?

No, no text benefit is available on the car loan.

Car Loan Process

How To Apply For Car Loan?

How to apply for Car Loan?

Applying for Car Loan is very easy, for this you have to submit the application by filling a form in the bank along with all the documents.

But before applying, find out the interest rate of the loan and then the processing fees applicable on it.

Also take information about Pre-Payment Penalty imposed on Car Loan because if you miss the amount of Car Loan to the bank ahead of time, then it is also charged.

Car Manufacturer Car Loan Schemes 

Car loan plans by tax maker

Many car manufacturers want their car to be known to every household, so many car manufacturers give you the facility of direct car loan.

1. Maruti




Many Car Manufacturing Companies like these give you a car loan at a low interest rate from the bank, so if you are planning to buy a car, then once you get information about those cars, whose company gives you a car including a car loan at a working interest rate.

Important Details Related To Car Loan

Important things related to car loan

1. Take Car Loan only at low interest rate.

Negotiate on Showroom Price before taking 2. Car Loan.

3. Don’t take car loan on high processing fees and try to pay work fees.

4. Also take information about Pre-Payment Penalty Fees on Car Loan.

5. Take car loan only after comparing with other banks.


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