Buying your dream car now. The benefit of applying through the online channel is that you can compare the offers available across the leading banks. Choose the best offer that fits your budget and gets maximum funding. Grab the best deal today.

 

 

Why Choose Car Loan in Tehri Gharwal

Interest Rates

Collateral Required

Hypothecation of the car

Loan Tenure

1 Yr to 5 Years

Max Funding

Upto 90% of Car Value

Pre-Closure Charges

0 % to 4 % of outstanding loan amount

 

 

Car Loan Eligibility

  1. A borrower must be an Indian resident
  2. Minimum Income of Rs 15,000 per month
  3. Minimum 1-year Residential stability is mandatory
  4. Minimum 21 years of age is mandatory
  5. Minimum 1 year of employment stability is must

 

Car Loan Documents

When you apply for a Car Loan, these are the documents which are commonly required, so keep them handy.

1.  Income proof: Need to submit your salary slips for the last three months and the statements of your bank account for last six months. For self-employed people, the requirement is to submit the audited bank account statements for last six months.

2.  Employment Proof: Need to submit a copy of the appointment letter and a certificate of employment issued by your company. For self-employed individuals, the partnership deed or business establishment documents need to be submitted.

3.  Tax Proof: Need to submit the IT return or Form 16 documents for the last two years.

4.  Address Proof: Any government sanctioned KYC document can be submitted as proof of residence.

5.  Age Proof: Any government sanctioned KYC document can be submitted as proof of age.

 

Factors that affect Car Loan Interest Rates

1. Credit history: The interest rate depends on the credit history you have built in past years, the high cibil score will not only help you in getting a loan but will also empower you with a strong bargaining power.

2. Income level: Higher the income better are the chances for the approval of higher loan amount.

3. The amount of down payment: Higher the down payment made lesser will be the amount that the bank will have to lend you. As a result, the bank’s risk will go down. Also, it shows that your financial position is sound. You may get a loan at a lower interest rate from the bank.

4. Tenure of the loan: Car loan is generally available for the tenure of up to 7 years.  It is generally seen that banks charge a higher interest rate for a loan of the shorter time period and vice versa. Longer tenors will enhance repayment capacity.

5. Car model and age: It is necessary for the bank to consider the car model in deciding the interest rate as on sale every model may not fetch the expected price.New cars are more easily financed than used cars; a high-end model will be expensive which means the borrower has to be able to pay the required down payment.

 

 

The City of Tehri Garhwal is one of the biggest districts in the hill state of Uttarakhand in India. Tehri Garhwal is an organizational headquarters is at New Tehri. (As 2001 census) Tehri Garhwal district has a population of 604,747, a 16.15% increase over the earlier decade.

 

Tips To Avail the Best Deal in Car Loan Tehri Garhwal

These 4 keys to a right Car loan and you can ride around knowing you got the Best Car Loan Deal in Tehri Garhwal.

  • Budget Analysis: Banks will be happy to lend you more money than you actually need. First step, create a budget analysis to make sure that you borrow the right amount. By doing this, you will have a actual idea of how much money you can afford to buy a car. 
  • Research the cost: An individual must go into the clear details of what will be the total cost of the car. He/She should be careful as the costs include more than just the purchase price. You will also need to consider insurance charges, fuel costs , maintenance charges, and interest rates.
  • Check your credit score: Your credit score plays an important role in knowing whether the banks will consider your loan application for a car loan. Paying your previous loan payments in time helps you impress your banker for extending your amount of your car loan.
  • Compare New vs Used: New cars depreciate much faster than old cars and it is important to decide between the two as the loan amount that you could be eligible for would vary between the two options.

 



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