All About Car Loan Tehri
Car loan helps fulfill one’s dream of buying a vehicle but buying a car is not easy task so that’s why we will help. We at DialaBank help all our customers who want to turn their dreams into reality of buying a car by helping you get proper financing. Car loans are available by the number of banks and the NBFCs.
Things to keep in mind before availing Car Loan Tehri
The very first time, people who want to buy a car through loan generally think that taking a car loan from the car dealer will be beneficial for them. The idea is to save some amount of work and also some money which is not how it is, mostly. The car dealers always have a good profit margin in these kinds of deals.
The financing can be taken from the banks or the NBFCs directly and not taking loan from dealer as this is a better as it will help save some money in comparison to getting finance directly from the car dealer. Here are the different types of car loans:
Car Loan Tehri
When buying a new car, getting a car loan is not very difficult. Vehicle loan are provided for the time period of a minimum 1 year and a maximum of 7 years through banks. For new cars, banks do provide 100% funding to the borrower depending up on the income of the borrower and the price of the car.
The other most important factor for a new car loan is the interest rate at which the loan is available in the market. The car loan interest rates depend on the following information:
- Firstly, Credibility of the company where the client works.
- The interest rates depend on the type and model of the car the client wants to get.
- The interest rates depend on the salary of the borrower.
We will help you to get the best available car loan depending on your needs.
The above criteria differ from financier to financier. The eligibility for car loans is different for salaried individuals as compared with self-employed individuals.
Interest Rates for Car Loan Tehri
- If the requirement of the applicant is less than Rs. Three lacs then the interest rate charged would be 10.25%.
- Simultaneously, if the loan amount is between Rs.3 lacs to Rs.6 lacs, then the interest rate charged would be 9.50%.
- For loan amount between Rs.6 lacs to Rs.10 lacs, a 9.25% interest rate would be charged.
- If the loan amount varies from Rs.10-20 lacs, then the interest rate charged would be 9.00%.
- For loan amount being more than Rs. 20 lacs the interest rate would be 8.70%
The interest rate charged for used cars has been fixed at 14.00%.
Documentation Car Loan Tehri
- Firstly, photo ID and age proof like passport, PAN card, Aadhar Card etc
- Signed form.
- Bank statement of last 6 months.
- Residence proof like Electricity bill, Driving license, AAdhar Card etc
- Salary slips of last 3 months.
- Previous 3 years ITR.
- Previous 3 years approved profit and loss, balance sheet.
Eligibility for Car Loan Tehri
Firstly, you should be at least 21 years and maximum 70 years for end time of tenure.
In addition, a minimum net income of Rs. 2.5 lakhs per annum is necessary.
You should be already working for a minimum of 1 year.
You should be minimum 18 years old and not more than 75 at tenure end.
Your business has to be earning a minimum of 1.8 lakhs.
You should be working in the business for a minimum time of 3 years.
Features o Car Loan Tehri
- Finance is available for up to 100%.
- Reducing interest rates are available with easy EMIs.
- Flexible tenure of up to 7 years given conditions match.
Used Car Loan
The possibility of owning a car is still very good as one can always buy a pre-owned vehicle if not a new car. And the finance for the pre-owned vehicle is also provided by the banks like HDFC and NBFC’s.
Conditions for a used vehicle loan:
- The car loans are not available on cars which are pre-owned and older than 8 years.
- The finance is usually available for up to 85% of the amount.
- The used car loan time period to repay is up to a maximum of 5 years.
Loan against Car
This type of finance is not available with all the lenders. This finance option is available with some selected banks and other financing companies like HDFC Bank, Axis Bank, Kotak Bank, and others. Some of the banks provide top-up loans for the customers they are already/existing dealing with.
Benefits of a loan against car:
The loan is available for amount 80% of the original loan value of the car.
The interest rates are very low compared to the personal loans.
The age of the car should not be more than 5 years and some specified kilometers which are a condition to obtain a loan from certain banks.
How to Apply for Car Loan Tehri?
Go to the loan section and select auto loan followed by car loan link.
The applicant will be directed to all the details of the car loan where they can choose their preferred city.
Avail the best loan and have a great ride.
Table of Contents
- 1 All About Car Loan Tehri
- 2 Things to keep in mind before availing Car Loan Tehri
- 3 Car Loan Tehri
- 3.1 Interest Rates for Car Loan Tehri
- 3.2 Documentation Car Loan Tehri
- 3.3 Eligibility for Car Loan Tehri
- 3.4 Features o Car Loan Tehri
- 3.5 Used Car Loan
- 3.6 Loan against Car
- 3.7 How to Apply for Car Loan Tehri?