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FAQS

How can I apply for Car Loan?

All you need to do is use our Car Loan Calculator, select your car, and select the bank you would like to hear from. We’ll have them call you.

Can I avail the Car Loan facility?

Of course you can. Please see the Car Loan Eligibility Criteria (hyper link to section)

For what amount can my Car Loan / Car Financing be?

That depends on your total monthly income and if you are availing any other loan facilities from any bank. Most banks will finance up to 85% of your car value. However this will vary from bank to bank and the type of vehicle.

What is the period of the Car Loan?

The period of your car loan can range from 1 year to 7 years.

How much initial down payment do I have to make?

Your initial payment includes the following;

Your contribution towards the value of the car
1st year insurance premium

What other charges do I have to pay?

Typically you have to pay up one or more of the following charges depending on whether you are taking a Car Loan on a new or a used car:

  • Registration / Transfer or ownership
  • Insurance
  • Tracker Charges
  • Processing Charges
Who will insure my car?

All banks have relationships with insurance companies to provide special rates to their customers.

How do I repay my Car Loan?

The Car Loan is paid through regular monthly payments for the duration / tenure you have opted for.

Can I repay my Car Loan before the maturity?

Yes, this is called Early Settlement. Usually the bank will charge you some percentage interest / profit for early settlement.

What documents are required to get a car loan?

These documents are listed on our Documentation section.

How much will I be charged for insurance after the 1st year?

The first year insurance premium is taken upfront and the 2nd year insurance is taken in 12 equal installments starting from the first month.

Why is the tracker installation Mandatory in some banks

Trackers are used by banks to protect the car against theft, some bank use this to restrict movement of the vehicles to certain high risk areas.

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