New car loan guide
Understand financing for a new car, including down payment, loan-to-value, tenure, total interest and vehicle hypothecation.
Eligibility
Lenders assess age, income stability, employment or business profile, existing EMIs, credit history and the selected vehicle. Co-applicants may be permitted under lender rules. Approval and financing percentage vary.
Potential benefits
Allows the purchase cost to be spread over a chosen tenure; may finance a substantial portion of the on-road price; structured EMIs and online application options may be available.
How to apply
Choose the vehicle and obtain a quotation, decide the down payment, compare official lender terms, prepare KYC and income documents, apply, complete lender verification and ensure the dealer receives disbursement only after sanction conditions are satisfied.