Car Loan
What is a Car Loan?
A car loan is a secured loan provided by banks and financial institutions to help you purchase a new or used vehicle. The vehicle itself acts as collateral until the loan is fully repaid, protecting the lender’s interest.
Car loans offer an affordable way to buy your dream car without paying the full amount upfront. You repay the loan in monthly installments (EMIs) over a fixed tenure, with interest rates generally lower than unsecured personal loans.
Many lenders provide flexible repayment options, quick approvals, and minimal documentation to make the process smooth. Additionally, car loans often come with features such as balance transfers, top-up loans, and insurance tie-ups for better financial protection.
Key Features :
- Secured Loan: The purchased vehicle serves as collateral until the loan is fully repaid.
- Flexible Tenure: Repayment periods typically range from 1 to 7 years.
- Competitive Interest Rates: Usually lower than personal loans due to secured nature.
- High Loan Amounts: Borrow up to 85–90% of the vehicle’s on-road price.
Why Choose a Car Loan ?
- Affordable EMIs due to lower interest rates and longer repayment tenure.
- Quick Processing and disbursal, often within a few days after approval.
- Balance Transfer Options to switch to lenders offering better interest rates.
- Top-Up Loans available on existing loans for additional financial needs.
Eligibility Criteria (General) :
- Age: Typically between 21 and 65 years.
- Employment: Salaried or self-employed with stable income proof.
- Credit Score: Preferably 700 or above for favorable terms.
Why Take People
Loan from Wealth Finversity
Instant approval & disbursal
Get instant approval on your car loan with minimal
paperwork. Enjoy a fast, secure, and hassle-free process
from application to disbursal, usually completed within a
few working days after verification.
Flexible Repayment Option
Choose flexible repayment plans including EMI holidays,
part-payments, or faster repayment after a period. Tailor
your repayment method to suit your financial stability and
future income growth.
Higher Loan Amount
Avail car loans ranging from ₹1 lakh to ₹50 lakhs or more.
Loan eligibility depends on your income, credit score,
employment type, financial stability, and vehicle value to
help you own your car confidently.
Longer Loan Tenure
Select repayment tenures from 12 months up to 7 years,
reducing your monthly EMI burden. Flexible tenure helps you
manage finances better while achieving your goal of owning
your preferred vehicle affordably.
Minimal & Easy Documentation
Submit only essential documents like ID proof, address
proof, income proof, and vehicle registration documents. The
simplified process ensures faster approval while maintaining
accuracy, security, and transparency at every stage.
Transparent Process
Enjoy a completely transparent process with no hidden
charges, no prepayment penalties (on floating-rate loans),
and a clear fee structure. Everything is communicated
upfront to build trust and confidence.
