In case you’re thinking to buy a car, finding appropriate auto loan is very important. It helps in maintaining your cash flow as 80-90% of the on road price of the car is funded by the bank/NBFC. It’s called secured loan as the car is hypothecated by the bank/NBFC. Its very useful for the self-employed, as the interest in this loan is considered as expenditure and depreciation is also considered in the profit and loss account.

Auto loan is provided to both salaried and self-employed individual as well as to a company. In order to avail this loan, the applicant has to furnish income proof as well as existing EMIs being served by the applicant. The two factors which determine choosing the bank/NBFC from which loan has to be taken are, car loan rate of interest and amount of loan being provided. Sometimes loan money is required very fast, in such case time taken in release of the loan amount also plays a crucial part.

All these deciding factors vary across different banks/NBFCs. However, we help in finding a bank/NBFC which provides auto loan matching your need and conditions.