Auto Loan | Car Loan Delhi NCR - call 88000 90480
  • HOME
  • Cheapest car loan Delhi
  • BANKS N FINANCE
  • Luxury Car Loan
  • Apply for Car Loan
  • Contact Us
  • News
  • Our Service

Reasons for Car Loan application getting declined

3/31/2014

6 Comments

 
Picture
Applying for a new car loan is very easy. You have so many sources - car loan agents, online application, bank branches, etc. Any of these mentioned ways to apply for a car loan comes with a procedure for approval.

Whether it is SBI Car Loan, HDFC car loan or ICICI car loan - every company and bank follows their own set of rules before they finance a car.

It is due to these reasons that the car loan may be approved or rejected.

1) Bad Credit Score

This is the biggest reason that a bank or an NBFC can reject your car loan application. A bad credit score reflects your credit history. Here, CIBIL comes into account. In case, you have defaulted in the past loans or credit card payment then chances are that your car loan application
may be rejected.

(Do not worry however - we can still help you get a car loan in case of bad credit score or low CIBIL score.)


2) Low Income

In case you have low income and wish to buy a high end car - chances for rejection of your car loan application, are high. As car loan lending is directly proportional to your income - banks take into account your monthly or annual income.

Moreover, in case you have already taken a few loans then again the car loan approval depends on your capacity to repay the new car loan you are seeking as your bank takes into account your existing liabilities.

3) Mistakes in the car loan application

Silly mistakes too lead to the rejection of car loan application. Several information  like your personal details, references, address of work and home, etc if mentioned incorrect, lead to the non approval of car loan.

(In such cases it is very important that you apply through an experienced car loan agent)

4) Physical Verification

The car loan provider verifies the residence and the work place. In case of negative verification or negative feedback from the agency that goes to verify your address, the car loan application is sure to be rejected.



Picture
Therefore it becomes necessary that you stay away from the hassles of car loan rejections as that may be too tiring and troublesome. It is advised that you prepare well before applying for a car loan.

In case you want your car loan application to sail through without any hurdle then you can call 88000 90480 or simply apply for a car loan here.


6 Comments
www.slickcashloan.com link
6/13/2018 02:53:02 pm

This is such a great resource that you are providing and you give it away for free.

Reply
slickcashloan link
11/16/2018 07:44:07 am

Instead of waiting for long years of tough work to buy a house or establish a business of your own you can get some help from one of the diverse kinds of loans and benefit yourself from this golden opportunity.

Reply
tradesbandz link
4/4/2019 11:33:39 pm

It’s really a nice and helpful piece of information. I simply stumbled upon your blog and wanted to say that I have really enjoyed browsing your blog post. Your blog is very informative. Keep posting and keep sharing like this.

Reply
Dyaln Peterson link
8/27/2019 12:08:55 pm

It's helpful to know that your car loan application could be denied if you have lower income but want to buy a high-end car. My sister needs to get a new car since her old one is starting to fall apart. I'll share this information with her so that she can be prepared if her car loan application is denied.

Reply
Scrap cars for cash Wellington link
5/7/2020 08:12:03 am

Now a days many people's don't know the actual reason that why car loan application getting declined, due to which they believe in humours. And due to this humours if they are thinking of buying a car they don't go for buying it. So, for such people this article is the best one , they should go through this link and get a clear details why car loan application is getting declined.

Reply
Bad credit car finance South Auckland link
5/8/2020 04:05:53 am

Thanks for this information; it will help us to get prepared well before applying for a car loan so that it won’t get rejected. I really love and appreciate your effort of presenting this information on this blog. Great post!!

Reply



Leave a Reply.

    Archives

    February 2016
    January 2016
    October 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    June 2013
    May 2013
    April 2013
    February 2013
    January 2013

    Categories

    All
    Auto Finance Cheap
    Auto Loan
    Best Auto Loan Rate
    Best Car Loan Agent
    BMW Car Finance Delhi
    BMW Finance
    Car Loan Agent
    Car Loan Alto
    Car Loan Approval
    Car Loan Delhi
    Car Loan Explained
    Car Loan For BMW
    Car Loan For Low CIBIL
    Car Loan For Maruti Alto
    Car Loan Ghaziabad
    Car Loan Indirapuram
    Car Loan On Cibil Default
    Car Loan Processing Fees
    Car Loan Punjabi Bagh
    Car Loan Rates
    Car Loan Shipra Sun City
    Cheap Car Loan
    Cheapest Car Loan
    Cheapest Car Loan Rates
    CIBIL Defaulters
    Good Car Loan Agent
    Hdfc Bank Car Loan Rates Cut
    Hdfc Car Loan
    Hdfc Reduces Car Loan Rate
    Indian Bank Car Loan
    Luxury Car Loan
    Pre Approved Auto Loan
    Pre Approved Car Loan
    Quick Car Loan
    Rate Cut
    SBI Car Loan
    Used Car Loan
    Vehicle Loan

    RSS Feed


    Author

    We endeavor to provide the best  car loan deals to people in and around Delhi/NCR

Powered by Create your own unique website with customizable templates.