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Apply For New Car Loan

What is a Car Loan?

Why wait to own your dream car? A car loan makes it easy to buy a new or used car with simple EMIs and quick approval. Just choose your car, and let the loan take care of the rest – fast, easy, and worry-free!

Types of Car Loans
  • New Car Loan: Buy your brand-new dream car with easy financing options.
  • Loan Against Car: Use your existing car’s value to get quick funds.
  • Top-Up Car Loan: Already have a car loan? Get additional funds on top of it.
Key Benefits
Affordable Interest Rates

Get your new car financed at the best competitive rates.

For All Profiles

Loans available for both salaried and self-employed individuals.

Best Offers & Deals

Enjoy customized offers and the most competitive deals tailored for you.

Quick Processing

Fast approval and disbursal with minimal documentation.

New Car Loan Eligibility Criteria

The eligibility criteria for New Car loans vary across lenders but generally include the following factors:

Basic Eligibility
  • The applicant must have a minimum credit score of 700 or above.
  • The minimum age required to apply is 22 years.
  • The applicant should have a minimum monthly salary of ₹12,000.
Income Requirements
Employment Type Minimum Income
Salaried Individuals ₹25,000 per month
Self-Employed Professionals ₹3,00,000 per annum
Self-Employed New Carmen ₹4,00,000 per annum
How to Improve Eligibility
1
Maintain Good Credit Score

Pay all EMIs and credit card bills on time to maintain score above 750

2
Reduce Existing Debt

Lower your existing debt-to-income ratio by paying off other loans

3
Show Additional Income

Include all income sources like rent, investments, etc.

4
Add Co-applicant

Increase eligibility by adding earning family member as co-applicant

Documents Required for New Car Loan

Personal Documents
  • Aadhaar Card
  • PAN Card
Income Documents
  • Last 6 months Bank Statements
  • Salary Slips (for Salaried Applicants)
  • Business Proof (for Self-Employed Applicants)
Vehicle Documents
  • Showroom Quotation

New Car Loan Features & Benefits

Affordable Interest Rates

Get your new car at the best rates available.

For All Profiles

Loans available for both salaried and self-employed individuals.

Best Offers & Interest Rates

Get the most competitive deals tailored for you.

Quick Processing

Fast approval and disbursal with minimal documentation.

Frequently Asked Questions

You can get up to 90–100% of the car’s on-road price, depending on eligibility.

Car loans usually come with flexible repayment options ranging from 1 to 7 years.

No additional collateral is required, as the car itself serves as security.

Basic KYC documents, income proof, and car details are usually enough.

Yes, both salaried and self-employed individuals are eligible.

Yes, you can transfer your existing car loan to inRupi for better rates and lower EMIs.