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