Loans

Car Loan

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wait for some more months or years to buy your dream car as you can take a car loan to meet your fund requirement. We can make this drive easy for you, apply for a car loan with deal4loans.com and become pride owner of your dream car.

Benefits of comparing car loan with Deal4loans.com

Deal4loans is India’s largest loan comparison service offering company. For trusted advice on various loan products and solutions on your financial needs, you can rely on us. We have tie-ups with leading banks and financial institutions providing car loans. We can assure you that you will get the best deals and offers at Deal4loans, which you can find nowhere else. Our user-friendly website enables you to compare all offerings in the market and make a well calculated choice.

Features of Car loans:

A Car loan is a great way to drive your dream car without making the complete payment upfront. Some other traits which make a car loan more feasible are:

✔ Flexible contract terms and comfortable tenure of loan i.e. upto 7 years
✔ Competitive and attractive rates of interests
✔ A tax deduction may be applicable if the vehicle is to be used for business purposes
✔ Almost everyone with a Permanent Income can apply for a car loan
✔ Some banks offer up to 100% of car finance on ex-showroom price and generally upto 85% of car finance on ex-showroom price is available.
✔ Very low processing fees and prepayment charges.

Check your Eligibility for a Car loan:

The certain factors that determine your eligibility for a car loan are:
✔ Age
✔ Kind of employment
✔ Income
✔ Period of employment
✔ Previous running EMI’s and CIBIL score

You can check your eligibility and get quotes by updating all information in our eligibility calculator.

Car loan interest rates can be vary from user-to-user based on different parameters. Some of these factors are:

  1. Banks give lower interest rates to the employees who have salary accounts with the same bank.
  2. It gives lower interest rates to employees of top 5000 companies of India.
  3. Based on your income per month you might get some waivers or on the total loan amount you may get cheaper rates.

Specialties/features of Best Car Loan/Auto Loans

Car loan basically serves the individuals who are either salaried or self-employed. The vehicle loans are available for fixed tenure at variable interest rates. There are two types of interests available: fixed and floating. Generally, it has been observed that the interest rates on car loans vary often if compared to other loans. Also, they are considered as secured loans. Thus, lenders are ready to take more risks while offering this amount to the customer. Below are the factors which affect the car loan:

  • Income of the customer ( annual and monthly)– The salaried professionals can obtain loan around three times of their annual income, while self employed persons can apply for the amount five to six times of their annual income.
  • Prices of the cars– You have to check whether the price of the car is covered with the loan or not. Usually, 80-90% price is covered by the bank loan. However, you must calculate the loan amount you are eligible to obtain and the actual price of the car.
  • Market interest rates and other charges– The availability of the car loan will depend upon the market demand for the same. It also varies according to the processing fees, charges and processing requirements etc.

Different Options available for Auto loans

Many banks and financial institutions offer car loans. It is a secured loan product which is also beneficial for the lender. The lender can seize the car, if buyer is unable to repay the loan amount. If you want to search for the best loan available, you have to find out the car model, your eligibility for the loan amount and tenure you would select to repay the loan. Later, you can go for the options that are available in the market.

There are many other banks which offer low interest rates and maximum tenure. You have to select the best car loan according to your capability to repay and requirement of the model of preferred car.

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