Car Loan - Get offers on your new car purchase
Explore the world of hassle-free car loans with 91Wheels. Discover your instant car loan eligibility with up to 90% financing from leading banks, offering the best interest rates and EMI options.
Following are some things to keep in mind when applying for a car loan:1. Apply for a car loan
Compare all available loan offers to identify the one providing the highest loan amount and the most affordable interest rate.
2. Submit Income ProofProvide income proof, including bank statements (last 6 months), pay slips (last 3 months), and IT returns (last 2 years). The lender aims to assess your ability to repay the loan.
3. Submit Proof of Address and IdentityFurnish proof of address and identity, such as PAN Card, Voter's ID, Aadhaar Card, Passport, etc. The lender seeks to verify your nationality, identity, and permanent address.
4. Credit HistorySubmit your PAN Card for the lender to review your credit history and determine your trustworthiness in making regular repayments.
5. Information About VehicleProvide sales receipts from the showroom where the vehicle was purchased. The lender needs confirmation that the transaction was executed as intended.
6. Proof of Insurance and Driving LicenseSubmit copies of the vehicle's motor insurance and your driving license. The lender must ensure compliance with all laws and protocols related to the purchased vehicle.
| Car Loan Details | |
|---|---|
| Interest Rate | 8% Onwards |
| Interest Rate (Monthly reducing balance) | Depends on the bank |
| Processing Fees | Varies with bank |
| Loan Tenure | 1 year to 8 years |
| Pre-closure Charges | Varies with bank |
| Guarantor Requirement | Varies with bank |
| Collateral/Security Requirement | None |
How Does This Work ?
Step 1Choose your ride
Step 2Get Quotes
Step 3Instant Decision
Step 4Quick Disbursal
Looking For Car Loan ?
- Lowest EMI
- Best interest rates
- Multiple bank options
- Fast process
EMI Calculator
| Loan Amount | ₹ 0 |
| Total Interest Payable | ₹ 0 |
| Total Payment | ₹ 0 |
Cars Question And Answers
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The down payment and emi for a Tata Harrier are based upon a number of factors, including the ex-showroom pricing of the variant you select, your city, the required loan amount, the interest rate that the bank or finance company offers, and the loan
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91Wheels Expert • 4 day agoHelpful(1)Reply -
The down payment and emi for a Hyundai Grand i10 Nios are based upon a number of factors, including the ex-showroom pricing of the variant you select, your city, the required loan amount, the interest rate that the bank or finance company offers, and
Read more91Wheels Expert • 4 day agoHelpful(1)Reply -
The down payment and emi for a Tata Punch are based upon a number of factors, including the ex-showroom pricing of the variant you select, your city, the required loan amount, the interest rate that the bank or finance company offers, and the loan te
Read more91Wheels Expert • 4 day agoHelpful(0)Reply -
Down Payment And Emi Depend On Several Factors: Loan Amount (Based On The Chosen Variant And Battery Pack). Interest Rate Offered By Your Chosen Bank Or Financial Institution. Loan Term (Usually Ranges From 12 To 84 Months).
91Wheels Expert • 1 month agoHelpful(4)Reply -
The Downpayment And Emi Depend On The Loan Provider, Loan Term, On-Road Price Of The Variant, And Individual Credit Scores. Contact Your Chosen Bank Or Dealership For Specific Calculations.
91Wheels Expert • 1 month agoHelpful(0)Reply
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Car Loan FAQs
Banks do not have a designated minimum credit score for Car Loans. However, having a lower credit score may limit your loan amount. An excellent credit score, typically above 750, is advisable for securing loans. You can access higher loan amounts and enjoy more favourable Car Loan rates with a score in this range.
The necessity of a guarantor is contingent upon the specific circumstances of the application. Typically, co-applicants are preferred in Auto Loan situations, and the inclusion of a guarantor will be evaluated based on the merits of the case if deemed necessary.
There is no specified upper limit for the maximum loan amount; it is determined by the cost of the vehicle. For instance, if the on-road price of a car is Rs 15 lakh, a customer may avail a loan of up to Rs 15 lakh based on the merits of the case.
The loan tenure can differ among banks, but typically, the minimum loan duration is 1 year, while the maximum can extend up to 8 years.