LOAN AGAINST CAR
Simple. Flexible. Transparent.
Fund your business needs, travel plans, education, marriage or any personal goals
Features and Benefits
Quick Processing
Loans that can be processed in less than 2 days.
Lower ROI than Personal loans
ROI on loan against used car is less than ROI on personal loans.
Flexible Loan Tenure
Flexible Loan repayment tenure that can be negotiated.
Multiple Lenders
Get best offers from multiple lenders
What is Loan Against Car
Loan against car or Car Refinancing provides a convenient and stress-free borrowing option using your car as collateral. It proves to be a great choice when you require fast funds for various financial needs. This type of loan offers a secured option without the necessity of pledging any additional assets.
You are eligible to avail a car loan if you meet the below criteria
Loan Against Car Eligibility
For Salaried Individuals
- Individuals who are at least 21 years old at the time of loan application and no older than 60 at the conclusion of the loan term.
- Individuals who have worked for at least two years, including at least one year with their present employer.
- Those with an annual income of at least ₹3,00,000 including the income of their spouse or co-applicant.
- Individuals who own a car and have paid at least 12 EMIs if there is an active loan on their car.
For self employed individuals
- Individuals who are at least 21 years old at the time of application and no older than 65 at the conclusion of the loan term are eligible.
- Those who have been in operation for at least two years
- Individual should earn at least ₹ 5,50,000 per annum
- Individuals who own a car and have paid at least 12 EMIs if there is an active loan on their car.
Documents required for car loan
- KYC documents (Valid Photo ID Proofs)
- PAN Card
- Last 2 years ITR as proof of income
- Salary Slip (latest 3 months)
- Salary account statement(latest 6 months)
- Signature Verification Proof
- Registration Certificate of the car
- Loan track (if there is an active loan on the car)
Avail loan in 4 simple steps
1
Check Eligibility
Fill your details on your platform
2
Choose Your Loan Offer
Choose from available offers
3
Upload Documents
Verify your identity
4
Leave The Rest To Us
Loan disbursal process initiated
Lending Partners
HDFC BANK
Axis BANK
IDFC First Bank
Kotak Mahindra
Tata Capital
ICICI Bank
Bajaj Finserv
Hero Fincorp
Mahindra Finance
Locations for Loan Against Car
Ahmedabad
Bangalore
Bhubaneswar
Chandigarh
Chennai
Coimbatore
Delhi
NCR
Guwahati
Hyderabad
Indore
Jodhpur
Kochi
Ludhiana
Lucknow
Mumbai
Mysore
Nagpur
Pune
Surat
Vadodara
Visakhapatnam
Rohtak
Hisar
Varanasi
Patna
Madurai
Bhopal
Aurangabad
Frequently Asked Questions
Loan against car is an easy and hassle free loan offered against your car. It is an excellent option if you need funds quickly for any other financial requirement. Loan against car gets you a secured loan without having to mortgage any other asset.
Loan against car is an easy way to get cash instantly. The loan can be utilized for almost any purpose. The tenures are pretty convenient and interest rates offered are lower than Personal Loans. Also, you get this loan amount on your existing car loan; hence it entails lesser documentation and easier processing when compared to a fresh loan.
If you have paid more than 12 EMIs on your existing car loan, we have exciting Loan against car offers from India's leading auto loan financiers. Just fill up the form on the website to start your Loan against car application and we will help you get your loan.
If you own a car, we have a loan offer for you! In case you have closed your loan in recent 3 months, we will use your car loan track record to generate offers for you. In case you have closed before 3 months, we can still offer you loan against car basis your income & repayment details.If you have never availed a loan on your current car, we can also get you a refinance loan against the same car.
RTO charges vary from case to case and will be communicated to you by TheMoneyTrunk executive after loan approval. Respective charges will be directly withheld from your disbursed loan amount by us.