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For guaranteed Car Loan Approval call - 88000 90480

4/25/2014

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Picture this - You have made all preparations to roll your dream car out of the show room and suddenly you get to know that your car loan application has been unapproved. You are left dumbstruck and hopeless.

It becomes embarrassing as by the time you plan to drive your new car home, you end up informing all your relatives and friends. You feel cheated and get depressed. You hoped of a quick car loan and end up with the auto loan application getting rejected.

Reasons for rejection of new Auto Loan or used Car Loan

  • Wrong information filled in car loan application - Due to minor mistakes in filling the applications the car loan can be rejected.
  • Incomplete documentation - All the documents such as - Pan Card, Voter ID, Salaray Certificates, etc should be attached with the application for auto loan. Any missing document can lead to auto loan rejection.
  • Negative verification of Work and Home Address - Banks and NBFCs send third party to verify a car loan applicant's home and work address. In case of no one verifying these two places in favor of the auto loan applicant, the car loan gets declined.
  • CIBIL Score being low - A bad credit history leads to low CIBIL Score, this in turn leads to outright rejection of the car loan.
The above mentioned reasons for car loan rejection can easily be taken care by an expert auto loan agent. A good car loan agent provides you all the information before applying for a car loan on your behalf making the process of approval of auto loan easy and smooth.

An experienced car loan agent from Car Loan Delhi NCR helps you to fill the vehicle finance application form carefully so that there remains no pend-ency or any mistake. The documentation part is also taken care by us.

In case your CIBIL score is less still we help you to get approval of the car loan. So all you need to do is contact us to get a guaranteed car loan approval.

For guaranteed car loan call - 88000 90480 or apply for auto loan



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New Car Loan - Frequently Asked Questions - Call - 88000 90480

4/24/2014

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Car Loans can be availed from several banks and NBFCs. You can approach your bank in which you hold a bank account for auto loan or you may contact some other bank.

 Here are few questions that often arise in case you apply for a car loan –

How to get a car loan?

You can apply for a car loan by approaching a bank. Also you may apply an auto loan online. However, it is best if you approach a car loan agent. A good car loan agent in Delhi NCR is not tough to find.


How much auto loan I can get?

Many banks offer you car loan up to 90% of the cost of the car. However, the car loan amount depends on the factors such as –

Ø  Your income.

Ø  The model of the car you are applying the vehicle loan for

Ø  Risk Factors, etc

 What would be the car loan rate of interest?

The car loan rate of interest varies with the car loan financier. Different car loan financiers offer different auto loan rates. Cheapest car loan rates are offered by some of the leading banks such as – HDFC car loan, SBI car loan, Axis Bank car loan in Delhi.

Can the interest rate be negotiated?

Yes the interest rate for car loan can be negotiated. Usually the private banks and NBFCs negotiate the car loan rates more than the PSUs.

Moreover, you have the option to choose from types of car loans –

·         Fixed Car Loan

·         Floating  Car Loan

What is going to be the tenure for Auto Loan?

The tenure for auto loan could be from 1 to 5 years. It can also go up to 7 years.

 Do the car loan applications get rejected?

 Yes the car loan applications do get rejected. An auto finance company can reject your car loan if you have a bad credit history or low CIBIL Score.

Can I get a car loan on a second hand car?

Yes banks do offer Used car loan. You may apply a used car loan in Delhi.

For New Car loan or Used Car Loan Call - 88000 90480

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How I can get a car loan for sure?

1/15/2014

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Getting an auto loan in Delhi-NCR is not tough for people who have little idea about how car loan process works. For the people who do not have idea about car finance - this article from Car Loan Delhi NCR can be useful -


What is Car Loan?

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You have decided to purchase a car and for any reason you want to pay partly for the cost of the car. You approach a bank that finances the car to get the rest of the payment apart from the one that you can afford to pay to the car manufacturer.

Moreover you may simply call up a good car loan agent in your area and hand them the documents required for a car loan. A reliable auto loan agent makes your work easier and gets you car financed quickly.

What is the eligibility to get a car loan?

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Minimum age of the applicant should be 18 years
The auto loan applicant should be salaried or self employed.
The car loan applicant - if salaried - should furnish the following documents -
1) Pan Card
2) Address Proof ( Voter ID, Passport, Electricity bill, Water Bill, Phone Bill, Mobile Bill, etc)
3) Office ID Card
4) Form 16 - 2 Years
5) Salary Slip - 3 Nos.
6) Bank Statement of 6 months showing transfer of salary
7) Rent Agreement - In case the Car Loan seeker resides on rent and does not have mobile or telephone bill
8) Loan track record - In case any loan is running in the name of the Car Loan applicant


The car loan applicant - if self employed - should furnish the following documents -

In case of Proprietorship firm
1) Pan Card of the car loan applicant
2) Address Proof ( Voter ID, Passport, Electricity bill, Water Bill, Phone Bill, Mobile Bill, etc)
3) Service Tax or VAT or Sales Tax, etc for the proof of Business
4) Income Tax Return
5) Bank Statement for 6 Months - Saving a/c and Current a/c - both
6) Rent Agreement - In case the Car Loan seeker resides on rent and does not have mobile or telephone bill
7) Loan track record - In case any loan is running in the name of the Car Loan applicant
In case of Partnership firm

1) Pan Card of the car loan applicant and that of the Partnership firm
2) Address Proof ( Voter ID, Passport, Electricity bill, Water Bill, Phone Bill, Mobile Bill, etc)
3) Service Tax or VAT or Sales Tax, etc for the proof of Business
4) Income Tax Return of the car loan applicant and that of the firm
5) Bank Statement for 6 Months - Saving a/c of the car loan applicant and Current a/c of the firm - both
6) Rent Agreement - In case the Car Loan seeker resides on rent and does not have mobile or telephone bill
7) Loan track record - In case any loan is running in the name of the Car Loan applicant or the firm


In case of Private Limited Companies

1) Pan Card of the car loan applicant and that of the Private Limited Company
2) Memorandum of Association of the company
3) Audited Balance Sheet, Profit and Loss Account - 2 Years, of the company
4) Income Tax Return of the car loan applicant
5) Home address proof of the auto loan applicant( Voter ID, Passport, Electricity bill, Water Bill, Phone Bill, Mobile Bill, etc)
6) Bank Statement for 6 Months - Saving a/c of the car loan applicant and Current a/c of the company - both
7) Loan track record - In case any loan is running in the name of the Car Loan applicant or the Private Ltd company

Sometimes it becomes too tedious job to gather all the documents and then visit the bank or car loan finance companies.
In such cases a good car loan agent comes handy. A good car loan agent makes your car loan easy to avail. You can be rest assured of getting an auto loan for sure.

To apply for a car loan click here
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Car Loan Explained - Car Finance Decoded

4/16/2013

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In order to get the best car finance offer prevailing in the market, you need to select a vehicle that fits your budget. Then you have to provide down payment as allowed by your budget. These two factors are responsible in getting your car loan approved and deciding the EMI and the rate of interest you would be paying.


Given here are the 4 main factors that decide how a bank or NBFC(Non Banking Finance Company) decides to give you an auto loan offer
  1. Vehicle selection: cost, age and the segment of car such as A, B, C or D segment
  2. Applicant's information: employment, residence, and income information
  3. Credit history or CIBIL:information contained in your credit file or your CIBIL Score
  4. Down payment that you decide on:cash that you can pay - this may vary as per your profile and segment of the car
To get the best car loan offer, you must select a vehicle that fits your budget. Then provide the best possible information as per your banking and finance history (Never conceal any glitches such as cheque bounces and non payment of credit card balance etc.) and then think of paying as much down payment as possible. These  factors increase likelihood of approval, also they cut on the time required for auto loan sanctioning, and reduce your monthly payment.

Factors affecting your monthly payment. Your monthly payment is determined by three major factors listed below in order of impact:

  1. Amount financed
  2. Term or length of contract
  3. Annual Rate of Interest 

Amount financed depends on your profile and the amount of Down Payment you are willing to make. Higher the down payment lower would be the EMIs. 

Term or length of Loan depends on you, again. You may go for 3, 4 or 5 years for paying the home loan. Some of the banks in India also offer Car Loan for a period of 7 years. However, the rate of Interest keeps on rising as term for payment increases. 

Annual Rate of Interest depends on your profile - Usually the rate of interest is higher for the self employed as compared to the salaried people. Again, rate of interest may be lower for a government employee than that for a person working in a private sector company. Also, in Private sector the rate of interest is higher for the employees of a company not so well known or falling under a category of the banks that comes lower in the order than those coming higher in the rank or category.

So, you can be almost half sure as to what rate of interest you will get for Car Loan even before you apply for it.

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