A vehicle loan pays for part of a new or used car, two-wheeler or commercial vehicle. The vehicle is usually hypothecated to the lender, which is recorded on the registration certificate until the loan is closed.
Vehicle loan products from lenders
No lender's product of this kind is listed yet. Products appear here only with details checked on the lender's own published pages.
What lenders usually look at
- Income and existing EMIs
- Credit history
- The vehicle: new or used, its price or valuation
- For commercial vehicles: driving or transport experience and the expected use
General guidance, not any lender's rules. Each lender sets its own criteria.
Papers lenders commonly ask for
- Identity and address proof (for example Aadhaar, PAN, passport or voter ID), as the lender asks
- PAN card
- Recent photographs
- Income proof: recent salary slips, Form 16 or bank statements for salaried applicants; income tax returns and business or professional records for the self-employed
- Price quotation or invoice of the vehicle
Share documents only through the lender's official channels. Finobazaar does not ask for them with an inquiry.
Before you sign
- Compare the total cost, not only the interest rate: processing fee, other charges and taxes are added to what you pay.
- Compare a dealer's financing offer with a lender's own offer; look at the total cost of both.
- After the last EMI, get the lender's no-objection certificate and have the hypothecation removed from the registration.
- Ask how prepayment, part-payment and foreclosure work and whether any charge applies to your loan.
Calculators
Calculators give estimates from the figures you enter; they do not use any lender's rate and are not an offer or a promise of eligibility.
Have a question about this loan?
Send an inquiry and a member of the Finobazaar team will call you back. It is not a loan application: nothing is sent to a lender unless you agree.