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Looking for a car loan? Get the lowest car loan interest rates and the fastest car loan processing speed in India.

Recently made loan offers

Rs.4.60 lakhs for Rs.9,887 EMI

10.50% Rate 60 Tenure

Total Interest PayableRs. 133,231

Total Tax + FeesRs. 9,200

Total Interest + FeesRs. 142,431

Submitted 26 minutes ago

Rs.8.40 lakhs for Rs.27,699 EMI

11.50% Rate 36 Tenure

Total Interest PayableRs. 157,194

Total Tax + FeesRs. 21,000

Total Interest + FeesRs. 178,194

Submitted 38 minutes ago

Rs.4.40 lakhs for Rs.14,509 EMI

11.50% Rate 36 Tenure

Total Interest PayableRs. 82,339

Total Tax + FeesRs. 11,000

Total Interest + FeesRs. 93,339

Submitted 54 minutes ago

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    <option value=""
    class="gray_header"
    >Loan type</option>
    <option value="1">Personal Loan</option>
    <option value="6">Business Loan</option>
    <option value="2">Home Loan</option>
    <option value="3">Auto Loan</option>
    <option value="5">Loan Against Property</option>
    <option value="99">Other Loan</option>

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        </td>
        <td>
            <span>Loan amt.</span>
<input type="text" name="{2}[{0}].loanAmount" maxlength="11" value="" id="eFrm_{2}_{0}__loanAmount" class="number normal requiredForAllEmp" title="Rs."/>

</td>
        <td>Start date
<select name="{2}[{0}].startDate.month" id="eFrm_{2}_{0}__startDate_month" class="requiredForAllEmp">
    <option value=""
    class="gray_header"
    >MMM</option>
    <option value="1">Jan</option>
    <option value="2">Feb</option>
    <option value="3">Mar</option>
    <option value="4">Apr</option>
    <option value="5">May</option>
    <option value="6">Jun</option>
    <option value="7">Jul</option>
    <option value="8">Aug</option>
    <option value="9">Sep</option>
    <option value="10">Oct</option>
    <option value="11">Nov</option>
    <option value="12">Dec</option>

</select>
<select name="{2}[{0}].startDate.year" id="eFrm_{2}_{0}__startDate_year" class="requiredForAllEmp">
    <option value=""
    class="gray_header"
    >YYYY</option>
    <option value="2010">2010</option>
    <option value="2009">2009</option>
    <option value="2008">2008</option>
    <option value="2007">2007</option>
    <option value="2006">2006</option>
    <option value="2005">2005</option>
    <option value="2004">2004</option>
    <option value="2003">2003</option>
    <option value="2002">2002</option>
    <option value="2001">2001</option>
    <option value="2000">2000</option>
    <option value="1999">1999</option>
    <option value="1998">1998</option>
    <option value="1997">1997</option>
    <option value="1996">1996</option>
    <option value="1995">1995</option>
    <option value="1994">1994</option>
    <option value="1993">1993</option>
    <option value="1992">1992</option>
    <option value="1991">1991</option>

</select>
        </td>
        <td>
            <span style="margin-right:7px;">EMI</span>
<input type="text" name="{2}[{0}].emi" maxlength="11" value="" id="eFrm_{2}_{0}__emi" class="number normal requiredForAllEmp" title="Rs."/>

</td>
        <td>
            <span class="font_small brel"><a href="#" class="" onclick="deletereln(this, '{1}');">Delete</a>
            <span class="addRel"> | <a class="bankrel brel" href="#" onclick="add('{1}');">Add another</a></span></span>
        </td>
    </tr>

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Car Loan FAQs

How BankBazaar.com helps you get the best deal on a car loan

Lowest rates: We have negotiated with Reliance Consumer Finance & others to get you the best rates.
Speed: Get car loan quotes customized to your profile online in 2 minutes.
Easy comparison: Compare car loan offers on the basis of total cost & customer satisfaction.
Transparency: Aimed at helping you make the right choice, we provide objective and transparent information about your car loan options.
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How to get a car loan on BankBazaar.com

Fill the anonymous form above to receive customized car loan quotes in a few seconds
Compare the car loan offers you receive and apply for the one you like
Your application will be sent electronically to the lender you chose. The lender will contact you within one day.
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Your car loan eligibility and car loan interest rate

Both salaried and self-employed people are eligible for car loans, as long as they have steady income. A car loan can be used to purchase either a new car or a used car. Most banks offer car loans which can be repaid over a period of up to 5 years. The car loan amount you are eligible for and the car loan interest rate you will be charged are dependent on factors such as income, employment history, car make & model, and whether the car is new or used. Banks typically limit the monthly payment (EMI) on your auto loan to about 50% of your monthly income, and will also cap the overall loan amount to about 80% of the ex-showroom price of your car (This cap may be relaxed for existing customers of a bank, but is stricter for used cars).

Typical fees and charges payable for a car loan

Lenders charge a processing fee of about 1% of the loan amount, but this fee is usually capped.
If you repay your car loan earlier than the agreed time frame, lenders charge a foreclosure penalty of about 4% of the foreclosed loan amount.

Comparing car loan quotes from different banks/NBFCs

Banks quote interest rates in many different ways (ex. monthly reducing rate, flat rate), hence just looking at the interest rate value alone might not give you a true picture of which car loan quote is the best. The processing fee should also be considered when comparing auto loan quotes. The best way of finding out which car loan quote is the cheapest is by comparing the total amount that you need to pay in order to completely pay off your car loan.

Total cost of car loan = Loan amount + Total interest charged throughout loan tenure + Processing fees & related taxes

The amount you are eligible for will vary by bank, hence choose a lender who lends you enough for you to afford the down-payment on the car.
In case you wish to buy your car very quickly, also consider the average time taken by the bank to disburse a car loan.

Looking for a car loan? Get the lowest car loan interest rates and the fastest car loan processing speed in India.

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