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The car is no longer a luxury but a necessity for the modern individual. Whether you are a salaried worker, self-employed, student, or retired, a car is a must-have for your daily life. Hence, a car loan to fund a dream drive is a logical step for many people. With the right loan in place, you can drive your dream car without any financial stress.
Even more, as technology advances so do the car industry. New models and variants are released frequently in the market, making it difficult for car lovers to resist the temptation of purchasing a new car or upgrading to the latest and greatest. These luxurious new car models, accompanied by various financing schemes offered by Loanz360’s Banking and Financial Partners, make it easier to apply for a car loan with a car of your choice at the most attractive interest rates and flexible repayment options.
With easy repayment options and the lowest auto loan rates, a car loan makes owning a car more affordable than ever. So go ahead and take the plunge – your perfect car awaits you.
100% On-Road Funding
On-road price is the inclusive price of the car, including ex-showroom price, RTO, all applicable taxes, and first-year insurance premium on the purchased motor asset. Get 100% funding on the on-road price of your car with several leading lenders at Loanz360 at zero down payments.
Pre-Approved Loans
Our top financiers at Loanz360 provide pre-qualified loans with instant approvals, best interest rates, flexible repayment options, and much more without hurting your credit score.
Quick Loan Processing
The quick loan processing at Loanz360 will allow you to purchase your car on the go with minimal documentation and a simplified approval process to avail of loans 24/7 at ease and convenience.Â
Zero Processing Fee
We have lifted off those pesky fees that have been bothering the investors for a long time. Subject to conditions, our lenders at Loanz360 are willing to work your loan application without charging an extra fee for processing, pre-closure, or foreclosure.
Prepayment Facility
You can discuss your prepayment options with our agents at Loanz360 before applying for the loan. Our agents will help you find lenders who will allow you to pre-close a loan, either after a specified time or whenever you want. The charges may or may not be applicable, as discussed before the disbursal.
Multiple Repayment Alternatives
There are several repayment alternatives you can choose from for an auto loan. Whether you are looking for a balloon EMI, regular EMI, step-up or step-down EMI, and special tie-up EMI, Loanz360 can arrange a lender for each.
Attractive ROI and Flexible Tenor
With the best funding process, attractive ROIs, and flexible tenors of periods extending up to 7 years on new car loans and 5 years on used car loans, Loanz360 has been popular among investors looking forward to cutting down their costs and eventually their financial burden.
Tax Benefits On Car Loans
Save taxes on your car loans with Loanz360s India’s finest financial partners under the commercial usage of the vehicle.
Loans Up To 4X Annual Income Of The Applicant
The loan sanctioned on the vehicle can be up to four times the annual income of the borrower or the applicant.
Secured Loan: Secured loans offer the asset as collateral or security against the loan amount. The lender holds the authority on the asset and is liable to seize the asset if the borrower fails to pay his due amount on time.
Unsecured Loan: Unsecured loans unlike secured have no security or collateral that a lender might possess on your behalf but will be forced to go after the culpable borrower by other legal means if the payments are not made as agreed in the contract.
Direct Finance: Direct financing can be obtained directly from the lender without the help of a middleman or agent.
Indirect Finance: Indirect financing offers an agent or dealer acting as a middleman between the borrower and lender to ensure the loan is processed thoroughly and the process is smooth until the disbursal.
In-House Financing: It is a type of financing where the buyer finances the vehicle with the dealer/seller/private party he purchased the vehicle with.
New Car Loan: As the name suggests, new car loans are obtained or sanctioned over a brand-new car purchased directly from the showroom or the dealer.
Used Car Loan: Used car loans are loans against pre-owned vehicles that have been used before and are being sold for the second or third time by the seller.
Getting a car loan individually or jointly is now easy with Loanz360. Whether you are looking for a new car loan or a used car loan, Loanz360 has the most exciting offers from several financiers for individuals looking to drive away with their dream car. The loan can also be obtained for commercial purposes and sanctioned for companies/firms for professional usage.
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Simple Interest: If you have a simple-interest car loan, you can choose to make payments against the loan’s principal balance, which will help you pay off the loan early.
Precomputed Auto Loan: Car loans with pre-computed interest have scheduled payments, and making additional payments will not lower the total balance owed.
Age: 21 – 65 years (Conditions Apply)
Type of Employment: Salaried/Self-Employed/Business Owner(Govt, Large Enterprises, Etc.)
Nationality: Resident of India/NRI (Conditions Apply, Contact Loanz360)
Income: Monthly Minimum ~ Rs. 20,000/- and above (Salaried/Self-Employed), Minimum ~ Rs. 2,00,000/- p.a onwards (Business Owners)
Credit/CIBIL Score: Any profile(Credit score ~ 650 or above has a higher chance of getting a quick and instant loan with high funding at lower interest rates)
Employment Stability: 1 – 3 years and above (With a stable income and continual flow of money)
Note: The eligibility criteria mentioned above are generic and may vary from lender to lender. Please reach out to us at Loanz360 for a personalized eligibility chart.
Note: Documents requested may vary from lender to lender, contact Loanz360 for any inquiry.
Proof of Identity and Address – Voter’s ID/Passport/PAN Card or Form 60/Driving License/Aadhaar CardÂ
Additional documents accepted for address proof include Electricity Bill/Ration Card, Copy of Utility Bill/Insurance Bond/Bank Statements/Income Tax Assessment Order/Property Registration documents/Pensioner Book/Property Tax Receipt/Employer Certificate
Income Proof Documents – Copy of latest three months’ salary slips/bank statements, Form 16 for salaried individuals, Copy of Income Tax Returns (ITR)/C.A certified Balance Sheet and Profit and Loss Statements along with business stability and ownership proof.
Copy of Vehicle Registration Certificate, telephone or mobile bill, signature along with proof.
CURRENT CAR LOAN INTEREST RATES START @6.50% P.A ONWARDS.
 Compare interest rates and check more deals offered on car loans by our financial partners at Loanz360 in 2022.
Bank Name | Interest Rate (P.A) |
| HDFC | 10.75% onwards |
| IDBI Bank | 7.35% |
| Indian Overseas Bank | 7.55% |
| ICICI | 7.85% |
| IDFC Bank | 7.35% |
| Canara Bank | 7.30% |
| Fullerton India | 7.35% |
| HSBC | 7.05% |
| Union Bank Of India | 7.40% |
| Central Bank Of India | 7.65% |
| Shinhan Bank | 7.40% |
| Federal Bank | 8.50% |
| Shriram Finance | 9.20% |
| Karur Vysya Bank | 7.80% |
| Bank Of Baroda | 7.10% |
| SBI | 7.20% |
| Corporation Bank | 7.40% |
| Axis Bank | 7.45% |
| OBCÂ | 7.05% |
| PNBÂ | 7.55% |
| Andhra Bank | 7.30% |
| Kotak Mahindra Bank | 6.50% |
| IndusInd Bank | 8.00% |
| Bank Of Maharastra | 7.70% |
| Syndicate Bank | 7.30% |
| UCO Bank | 7.25% |
| Yes Bank | 9.75% |
| Tata Capital | 7.75% |
| Indiabulls Finance | 11.99% |
| Punjab & Sind Bank | 7.10% |
Why wait, when you can drive the road to happiness with the lowest and most convenient deals, found only at the Loanz360 marketplace?
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Note: Our financial partners are not limited to the above-mentioned banks. Contact Loanz360 to discuss options. The interest rates may vary subject to conditions.
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