Vehicle Loans

A vehicle loan is a sum of money a consumer borrows to purchase a vehicle whether it can be two, three wheeler or 4-whester. These vehicle loans are also known as Auto Loans. There are two types of vehicle loans One is direct auto loan and the second one is indirect Auts Loon.

in a direct auto/vehicle loan, a bank offers the money directly to a consumer. in an indirect auto loan, a car dediership acts as an intermediary between the bank or financial institution and the consumer. The interest rates for secured toans are generally lesser than unsecured loans.

Purpose of Vehicle Loans:

1. Vehicle loans can be availed by individuals for personal use like purchase of 4-wheeler or purchase of 2- wheeist atc
2. These vehicle loans can also be avallect by companies for individual firms for the usage of their directors or their top management

Vehicle Loan Eligibility:

1. Resident Indian citizen and Non-Resident Indians (N)
2. Minimum age-18 years and maximum age-75 years
3. Individual, either singly or jointly with family members
4. Companies or financial institutions take these vehicle loans for their top management

Features of Vehicle Loan

1. Vehicle loan enables an individual to purchase a car even if he/she don’t have all the money for it right TW

Most of the vehicle toons will finance the on-road price of the car.

2. For some Car toans financial institutions will finance 100% of the on-roast price with no down payments.
3. Any vehicle toun in India are securit loans. This means that the cor serves as the security/collateral for the loan
4. Procuring a car ban is generally simple when compared to other oon products consumers with sty but low credit scores can also avall this Vehicle loan in which it may offers as per the norms of the financial institutions.

Terms & Conditions