Car Loan
- Drive Your Dream Car with Easy EMIs, Low Interest Rates & Quick Approvals
- 100% Transparent Process with Dedicated Loan Advisors
- Serving Individuals Across India with Fast & Reliable Auto Financing Solutions
- Trusted by First-Time Buyers, Professionals & Business Owners Nationwide
- 👉 Apply Now & Get the Best Car Loan Offers
Contact Our Expert
overview
What is a Car Loan?
A car loan is a secured loan that helps you purchase a new or used vehicle, where the car itself acts as collateral. It allows you to own your dream car while paying in easy monthly installments (EMIs).
Whether you’re buying a brand-new car, upgrading your existing vehicle, or purchasing a used car, car loans provide quick financing with flexible repayment options.
For individuals in Chennai — from daily commuters in OMR to families in Anna Nagar — car loans make vehicle ownership simple, affordable, and accessible.
💡 Did you know? Most lenders finance up to 80%–90% of the car’s on-road price, depending on your eligibility and profile.
Benefits
Car loans offer multiple advantages:
Easy Ownership
Buy your car without paying the full amount upfront.
Flexible EMI Options
Choose repayment tenure that suits your budget.
Quick Approvals
Fast processing with minimal documentation.
High Loan Coverage
Finance a major portion of the vehicle cost.
Eligibility Criteria
Car Loan Eligibility
To qualify for a car loan, lenders consider:
- Age: 21 to 65 years
- Salaried or self-employed individuals
- Stable income source
- Credit score: 650+ preferred
- Good repayment history
- Valid driving license (in some cases)
- Must be a Resident Citizen of India
Documents Required
Document Checklist
Keep your documents ready for smooth approval:
- Identity Proof
- PAN Card
- Aadhaar Card
- Passport
- Driving License
- Address Proof
- Aadhaar Card
- Utility Bills
- Passport
- Voter ID
- Income Proof
- Salaried: Salary slips (3–6 months), Form 16, bank statements
- Self-employed: ITR (2–3 years), financial statements
- Vehicle Documents
- Proforma invoice from dealer
- RC (post disbursal)
- Insurance copy
- Bank Statements
- Last 6months
- Photographs
- Passport-size photos
- Audited Financial Statements
- Board's Report
- Annual Return (MGT-7/7A)
- Form AOC-4
- Form MGT-7
- Digital Signature Certificate
EMI Calculator for Car Loan
Loan Details
1030
Loan Summary
Principal
Interest
Monthly EMI: ₹ 0
Principal Amount: ₹ 0
Total Interest: ₹ 0
Total Payment: ₹ 0
Fees and Charges for Car Loan
Charges may vary depending on lender:
| Particulars | Charges |
|---|---|
| Processing Fees | 1% to 2% of Loan Amount |
| Documentation Charges | ₹1,000 – ₹5,000 |
| Hypothecation Charges | As per RTO |
| Prepayment Charges | As per lender terms |
| Penal Charges | Usually 2% per month |
*Additional charges may include insurance, registration, and administrative fees.
Car Loan Process
Step-by-Step Loan Assistance Process
Swasthik Capitals ensures a smooth and hassle-free car loan journey — from application to disbursal.
1
Eligibility Assessment
We evaluate your income, credit score, and financial profile.
2
Document Collection
Our team assists in collecting and verifying required documents.
3
Lender Selection
We connect you with the best lenders offering competitive interest rates.
4
Application Submission
We submit your loan application accurately to avoid delays.
5
Approval & Verification
The lender reviews your application and approves the loan.
6
Loan Disbursal & Support
Funds are disbursed directly to the dealer, and we continue to support you.
FAQ
Frequently Asked Questions
Up to 80%–90% of the car’s on-road price, depending on eligibility.
Interest rates usually range from 8% to 12%.
Typically 1–3 working days, depending on documentation.
Yes, prepayment is allowed, but charges may apply.
Yes, many lenders offer loans for both new and used vehicles.
