The dream of owning a personal car is unpredictable and automobile loans are a great way to finance it. Earlier, it was considered a luxury, but now, it is a necessity. Owing to this, there are flexible options for EMIs, interest rates, etc., you can select from to become a proud car owner.
- Automobile loans are secured against the car itself, so you do not have to mortgage your property or other assets to get it.
- A good credit history comes in handy when you want a loan with easy repayment and EMI options.
- Some financial providers provide financing up to 90% of ‘On-road Price’, which is beneficial.
- You can get up to 10 years to repay the loan with the Lowest Interest Rates & EMI, depending on various factors.
- After you qualify for a car loan, you can buy the vehicle immediately.
- You can prepay the loan when you have enough funds to close it.
Automobile Loan FAQs
How much funding can I get on automobile loans?
Some financial providers provide financing up to 90% of ‘On-road Price’, but it varies.
Are there some specific cars for getting loans?
Most financial providers provide finances for any type of car, but as the provider varies, it becomes necessary to confirm it once. All small to medium-sized cars, Sports Utility Vehicles (SUV), and Multi Utility Vehicles (MUV) are eligible for loans.
Can I negotiate on the loan interest rate?
Interest rates are mostly non-negotiable as they depend on credit score, credit history, etc.
Do I need to provide security for the loan?
No, there is no need to provide additional security for the loan.
Automobile Loan Details
Availing for a car loan might be a huge financial decision that can disturb your budget. Opting for an automobile loan can help you manage your expenses while being a car owner.
Salaried / Self Employed