how to take a car loan |
Hello friends, I welcome you all to today’s article. Friends, we will give you information about how to take a car loan. Friends, currently when a person has his own house, then he has another wish that he should have his own car. Nowadays, a car has become not only a hobby but also a thing of necessity. If you want to fulfill your desire of buying a car but are unable to do so due to lack of money, then you don’t need to worry much now, you have the option of taking a car loan.
If you want, you can fulfill your desire by taking a loan for a car. When it comes to taking a loan, strange problems arise in the minds of people that how will they take the loan, so through today’s article, we are going to tell you how you can take a car loan. For this you all will have to read this article till the end. 
What is a car loan?
Friends what is a car loan, as the name itself suggests, when a loan is taken to buy a car then it is called car loan. You can take loan for both new and old types of cars, but taking loan for a new car is a bit easy and cheap whereas taking loan for an old car is difficult and expensive.
Documents required for getting a car loan
- Address proof – ration card, driving license, Electricity bill, voter ID card, telephone bill, life insurance policy, passport etc. any one of these.
- Certificate of Identity – Passport, Voter ID Card, Driving License, PAN Card etc. any one of them.
- Last 2 years income details for business person
- Bank account statement for the last 6 months
- Two passport size photographs
Application process for a car loan
Friends, if you want to take a car loan, then for this you will have to follow all the procedures given below step by step, which will be like this –
- To take a car loan, first of all you have to fill the application form for car loan. You can apply by going to the bank or at the car dealership here.
- After filling the application form, the loan giving bank adopts the process of verifying your documents. You have to provide proof of income, identity and address. The bank verifies these and confirms them.
- If the bank is satisfied with the documents and says that you can be given a loan to buy a car, then your car loan gets approved.
- After that, car loan is issued in your name.
How much car loan can I get?
Friends, when we talk about car loan, this question must be arising in your mind that how much loan you can get for a car. You can get a car loan of 80% to 90% of the car price for buying a car. The thing you need to note here is that you can get a loan of up to 80-90% of the showroom price only. The car is delivered to you at on-road price.
You do not get any type of loan for car registration, insurance and cars etc. Along with this your car loan is also determined on the basis of your capacity to repay the loan and your monthly income and loan from any other type also affect your ability to take a car loan.
conclusion –
Friends, in today’s article we have given you all the information about how to take a car loan, we have given you the complete information in detail so that you can easily take a car loan. Friends, if you all like this information then please share this article with your friends.