Numaish Road, Bharatpur | 321001 10:00 AM - 5:00 PM

info@indoliyaassociates.com +91 07665900665 | +91 07665900666

Offers For New Customers

Loan of up to Rs. 40 Lakh

Tenure of up to 84 Months

No Guarantor / Collateral

Features and Benefits of our Car Loan

Access to Immediate Funds

Flexible Loan Tenures

Fixed Interest Rates

Customized Loan Amounts

Convenient Monthly Repayments

Potential Tax Benefits

Option for New and Used Cars

Ownership from Day One

No Need for Full Upfront Payment

Improve Credit Score through Timely Payments

Car Loan Eligibility Criteria

To qualify for a Car loan, you have to meet certain criteria. Below are the important factors that lenders take into consideration to decide your eligibility for a Car loan.

Age should fall under the range of 21 years to 60 years

Net monthly income should be 15,000/- for salaried and self-employed, yearly transactions should be a minimum of 20 lakhs

Credit score must be above 650

Debt-to-income ratio

Employment stability

Maintained a good credit score

Clear repayment history

Must be a Resident Citizen of India

Documents required to apply for Car Loan

Identity Proof – Passport, Voter’s ID, Driving License, PAN Card, Aadhaar Card

Income Proof – 1 year Bank statement, 3 months Salary Slips

Employment Proof – Employment Certificate, Office address proof

Registration Certificate - GST or VAT Registration for Self-employed

Photograph – Passport-size photographs

Business proof – Business registration documents such as a partnership deed, Memorandum of Association (MOA), Articles of Association (AOA), etc.

Income tax returns – Documents of the past 2-3 years to verify income and tax payment history

Frequently Asked Questions

Should I get pre-approved for a car loan?

Yes, pre-approval provides you with an estimated loan amount and interest rate, helping you shop for a car within your budget and potentially negotiate better terms.

what’s the difference between a new car loan and a used car loan?

New car loans are for purchasing brand-new vehicles, often offering lower interest rates. Used car loans apply to pre-owned vehicles and might have slightly higher rates due to the car’s depreciation.

What’s the importance of a down payment?

A down payment is the initial amount you pay upfront. A larger down payment can lower your loan amount, monthly payments, and overall interest cost.

What factors affect car loan eligibility?

Factors include your credit score, income, employment history, existing debts, down payment, and the chosen car’s value.

How does a car loan work?

You apply for a car loan from a lender, and if approved, you receive the funds to buy the car. You then repay the loan in monthly installments over a predetermined period, typically 2-7 years, until the loan is paid off.

Get In Touch