Lonar Easy and flexible finance options for vehicles, ranging from two-wheelers, cars, commercial vehicles, etc. Buying a car is one of the significant purchases that people make, however, with the availability of secure financing options having a vehicle is not just a dream but a necessity that most of us can easily afford.The rates for a vehicle loan vary as per the value of the vehicle, the loan amount you have applied for, and the repayment capability of the borrower.
Before applying for a vehicle loan online, make sure to use the vehicle loan calculator to find out your EMI. Apply for a Vehicle Loan and make your dream of owning a car come true.
Here is a list for your quick reference.
To avail a business loan, you must meet the following eligibility criteria –
Vehicle loans are generally taken for a short period of time. Generally, vehicle loan tenure is between 5 years to 7 years.
Yes, you can apply for a car loan jointly with a co-applicant (either be your spouse or your parents). This helps you to increase your eligibility. Hence you may get a higher loan amount as your co-applicants income also gets added to your income. In co-applicant cases, the total income is taken into consideration for calculating the eligibility.
Yes, you can get a car loan top up but terms and conditions vary from bank to bank.
Yes, if you fail to pay the loan on time then it will also affect your co-applicant. Default in the loan will affect his/her CIBIL rating as well.
Just like with most loans, a high credit score above 750 is ideal. But you can still apply for a loan if your credit score is above 600. Remember, if your score is too low, your application may be rejected.
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