If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 34 Car Loan Eligibility

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.1% - 15% Floating
    0
    20K - 10L
    1-5 Years
    Response Time Within 30 minutes
    Ad Rs.2,500 Amazon voucher free Paperless approval option available
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    Eligibility Criteria
    9.10% - 15% Fixed
    Up to ₹ 6,153 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    8.95% Floating
    ₹500 to ₹7000 + applicable tax
    1Cr Max
    7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval option available
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    Eligibility Criteria
    9.50% - 11% Fixed
    2,500 One time fee
    1L Min
    1-5 Years Tenure
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Eligibility Criteria
    8.25% - 9% Fixed
    Up to ₹4,720 One time fee
    1L Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free PAPERLESS APPROVAL OPTION AVAILABLE
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    12.5% - 14.5% Floating
    2% One time fee
    1.5L - 25L
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free 100% financing on car value
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    Fees & Charges
    Good To Know
    Eligibility Criteria
    8.75% - 11.50% Fixed
    Up to ₹5500
    1L Min
    1-7 Years
    Response Time Within 30 minutes
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    Eligibility Criteria
    13.50% - 15% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval option available
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    Fees & Charges
    Good to Know
    Eligibility Criteria
    9.15% - 9.30% Floating
    575 One time fee
    1L - 2Crs
    1-7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
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    Perks
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    Eligibility Criteria
    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free
    What you'll love
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    Good to Know
    Eligibility Criteria
    8.85% Floating
    ₹500 to ₹7000 + applicable tax
    1Cr Max
    7 Years
    Response Time Within 30 minutes
    Rs.2,500 Amazon voucher free SPECIAL OFFER FOR WOMEN
    What you'll love
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    Eligibility Criteria
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  • Car Loan Eligibility Reviews

    • Bank of India Car Loan
      "Excellent Service"
      0.5 3.5/5 "Pretty good"
      The car loan process with bank of India was good and smooth. They have disbursed my loan within 3 to 4 working days. The required loan amount has been given, the part payments option is available and the there is no foreclosure charges. The processing fee was nominal .The rate of interest is nominal with bank of India.. I am satisfied with bank of India the car loan service.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Aug 14, 2017
    • HDFC Bank Car Loan
      "Satisfactory service"
      0.5 4.0/5 "Great!"
      I have received 80% of car loan from HDFC bank. They have disbursed my loan within 5 days of time. The response with HDFC bank is really good and they have done everything on promised time. The rate of interest is reasonable with HDFC bank. The service which given by HDFC is very good and I am satisfied.
      Was this review helpful? 0
      , visakhapatnam
      Reviewed on Aug 14, 2017
    • Reliance Commercial Finance Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The Reliance car loan got disbursed in the same day after applying. The required loan amount has been disbursed and I am happy about it. The rate of interest is nominal 13.5% with Reliance. The service which was given by Reliance bank is excellent.
      Was this review helpful? 0
      , cherthala
      Reviewed on Aug 13, 2017
    • HDFC Bank Car Loan
      "Instant response & good experience"
      0.5 5.0/5 "Blown Away!"
      I received my car loan from HDFC Bank in five minutes. I applied for it online and the process was instant. Being an existing customer the process is really quick and the services are excellent. I have never faced any kind of inconvenience with the bank.
      Was this review helpful? 0
      , tirunelveli
      Reviewed on Aug 12, 2017
    • Bank Bazaar Customer Support
      "Perfect service"
      0.5 5.0/5 "Blown Away!"
      Bank bazaar always maintains the connectivity with the customers and they give good response to their customers. The website of bank bazaar is easy to use and customer friendly. I would say the user interface is really good with bank bazaar. I have applied car loan through bank bazaar website . I got to know bank bazaar via social networks.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 12, 2017
    • TVS Credit Services Car Loan
      "Better service"
      0.5 3.0/5 "Satisfactory"
      The Actual car loan process was went smooth with TVS CREDIT SERVICES. The customer service is good with TVS credit . They gave me good response in concern to my car loan application. They have taken around 4 to 5 days to disburse my car loan. I am satisfied with the loan amount. The rate of interest is high when compared with others.
      Was this review helpful? 0
      , kolkata
      Reviewed on Aug 12, 2017
    • Jammu Kashmir Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      Applied Car loan with J & K bank . Jammu and Kashmir bank just took 2 to 3 days to disburse my loan. The required loan amount has been approved and disbursed. I am satisfied with the loan amount The rate of interest is nominal with Jammu and Kashmir car loan.
      Was this review helpful? 0
      , jammu
      Reviewed on Aug 12, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 4.0/5 "Great!"
      The response which was given by bank bazaar is really good., Bank bazaar has helped me to choose the best bank partner in the market . The follow up was made time to time by bank bazaar executives,. The customer service is really good with bank bazaar, The website of bank bazaar is easy to use and user friendly.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 11, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      HDFC bank charged me Rs,18000 for some device installation, they have also charged the processing fee and the insurance amount in concern to my car loan application. I would like to suggest HDFC bank to avoid the hidden charges in car loan concern,. They have disbursed my loan within the promised time. I am happy with the service.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Aug 11, 2017
    • Bank Bazaar Customer Support
      "Wonderful"
      0.5 5.0/5 "Blown Away!"
      Bankbazaar.com have provided me an immediate solution, also am using it very recently. Service aspects are good, also they have given me the transparent view to know about the banking products.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 11, 2017
    • Axis Bank Car Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      My experience was good one with the Axis bank for the car loan. Rate of interest was around 9%, also customer service was good one. The response was really an immediate one for me. Axis bank have provided around 5 lakh Rupees as principal amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 11, 2017
    • Bank Bazaar Customer Support
      "One stop solution"
      0.5 5.0/5 "Blown Away!"
      It is the one of the best portal where I can find the required financial products . I know about bank bazaar for a very long time, but I am using it recently. I got the call from bank bazaar within a hour time after submitting the request on the website. I would say bank bazaar has user an friendly portal.
      Was this review helpful? 0
      , kota
      Reviewed on Aug 11, 2017
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      It was been a nice experience during the whole process of the loan disbursement. The response was very good with HDFC bank. They have disbursed my loan within the promised time, Instead there was delay made by my side I requested the HDFC bank to make a delay on the process and they have also cooperated . The required loan amount has disbursed and I am satisfied.
      Was this review helpful? 0
      , kota
      Reviewed on Aug 11, 2017
    • Bank Bazaar Customer Support
      "Perfect service"
      0.5 4.0/5 "Great!"
      I have not seen the bank bazaar website before. Then, I just gone through with website and applied for the car loan , within a hour time I got the call from bank bazaar executive and explained me about the product. The transparency is ont the bank bazaar site. The website of bank bazaar is user friendly . I am satisfied using bank bazaar service.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 11, 2017
    • ICICI Bank Car Loan
      "Perfect service"
      0.5 4.0/5 "Great!"
      It was a smooth process followed by ICICI bank in concern to my car loan. They have disbursed my loan amount in 10 days. The rate of interest is nominal with ICICI bank. The requested loan amount was not given due to their limitation but still I am satisfied with the loan amount as it has met my requirement.
      Was this review helpful? 0
      , bangalore
      Reviewed on Aug 11, 2017
    • Bank Bazaar Customer Support
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I got very good experience from this portal 'bank bazaar'. The service was really good with bank bazaar. After giving the requirement in the bank bazaar portal, I got the call back in 5 minutes of time. The website of bank bazaar is easy to use and user friendly. The data base questions can be presented in a clear manner.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 11, 2017
    • HDFC Bank Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The car loan process was quit difficult from HDFC bank. The HDFC bank response part is not up to the mark. They took around 25 to 30 days to disburse my car loan. The process took very long time. The required loan amount was not given, they have approved low loan amount. The rate of interest was also high, when compared with others.
      Was this review helpful? 0
      , patna
      Reviewed on Aug 11, 2017
    • HDFC Bank Car Loan
      "Bitter experience"
      0.5 1.0/5 "Really Bad"
      Basically I got the car loan which was approved already and ready for the disbursement from HDFC bank. They asked me to submit the documents which was done immediately . Then at the time of disbursement they were asked me to go with the insurance of Rs.30,000 , there I lost my hope and I have cancelled the loan saying that I don't need the insurance. The processing fee and the rate of interest was also high with HDFC.
      Was this review helpful? 0
      , vadodara
      Reviewed on Aug 11, 2017
    • Bank Bazaar Customer Support
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      My car loan process was easily processed via bank bazaar. I have chosen bank bazaar when I was looking for the car loan. I am with bank bazaar for more than 4 months. The customer service was really good with bank bazaar, because they have reached me on the same day when I have given the requirement on their website.
      Was this review helpful? 0
      , vadodara
      Reviewed on Aug 11, 2017
    • ICICI Bank Car Loan
      "Very good service"
      0.5 4.0/5 "Great!"
      The ICICI bank has offered me a car loan with very low interest rate. The car loan was smooth with ICICI bank. They took around a week time to disburse my car loan amount. The way they give response to the customer is very good. I can say I got very good service from ICICI bank.
      Was this review helpful? 0
      , vadodara
      Reviewed on Aug 11, 2017
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    Car Loan Eligibility is Rated as "Great!" by 28674 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN

    Car loans are advances made by banks and other auto-finance companies to financially enable borrowers to purchase a car for private or commercial use.


    Car Loan Eligibility

    Car Loan Eligibility differs based on the criteria set by the lender taking into account the borrower’s profile.


    Age:
    Minimum
    Maximum

    18 yrs.
    75 yrs.
    Net Income Requirements Rs.10,000 p.m upwards
    Employment:
    Type
    Stability

    Salaried or Self-employed
    3 yrs. (minimum) total experience/yrs. in business/profession; 2 yrs. (minimum) in current post/business/profession
    Type of Car Old vs. New - affects loan amount
    Value of Car Affects loan amount
    Model of Car Approved models
    Residence:
    Area
    Stability

    Urban/Semi-urban/Rural
    1 yr. (minimum) stay at current residence

    Car Loan Eligibility Calculator:

    A Car Loan Eligibility Calculator is a tool used to determine the car loan amount that a person can apply for with a bank. The eligibility calculator can help an individual get a preview of the percentage of the maximum loan amount that can be sanctioned by the bank. The maximum loan amount and tenure of the loan vary depending on whether the car is new or used, value of the car, and the maximum EMI that the applicant can pay. The car loan amount sanctioned by a banking institution also depends on the loan tenure opted for and the monthly income of the loan applicant.

    Car Loan Eligibility

    An individual will have to provide a few basic details such as:

    • The monthly income of the applicant
    • Pre-existing EMI amount
    • Country/place of residence
    • Car manufacturer
    • Date of birth
    • Car model
    • Type of employment
    • Annual Income
    • Type of residence

    With a Car Loan Eligibility Calculator, an individual can compare car loan amounts and tenures offered by various banks. Once an individual selects either the “New Car or Used Car” options, they would have to input their monthly income and the EMI amount on any existing loan amount.

    Car Loan Eligibility and CIBIL Score

    Some of the important factors that play a major role in determining a person’s car loan eligibility are as follows:

    • The EMI amount that you can pay without hindering any daily household duties or expenses, EMI amount that you pay on an existing loan, etc.
    • Car loan tenure also plays an important role
    • A CIBIL score of 750 and above is considered a good score as this increase your chances of having the loan amount sanctioned.

    Car Loan Eligibility for SBI, Axis Bank, HDFC Bank

    SBI Bank

    If an individual intends on applying for a car loan with SBI Bank, he/she should be aged between 21 to 65 years. The individual should belong to any one of the following categories mentioned below:

    Category Annual Income Maximum Loan Amount
    • Regular employee of a reputed establishment
    • Private Sector
    • The Central/State Government Public Sector Undertaking
    Net Annual Income should be greater than Rs.3 lakh Net Monthly Income times 48
    • Self-employed individuals
    • Professionals
    • Partnership/Proprietary firms that are income tax assesses
    • Businessmen in various fields
    Gross Taxable or Net Profit income of over Rs.4 lakh p.a. Gross Taxable Income or Net Profit times 4
    • Individuals who are engaged in allied and agricultural activities
    Net Annual Income of the applicant should be greater than Rs.4 lakh Net Annual Income times 3

    Axis Bank

    If an individual applying for a car loan from Axis Bank is a salaried applicant, he/she should be aged between 21 to 70 years. If the applicant is self-employed, the applicant should be aged between 18 and 75 years. The eligibility criteria for Axis Bank:

    Self-Employed Individual Salaried Self-Employed Non-Individual
    Income Rs.1.8 lakh p.a. for standard and premium cars Rs.2.4 lakh p.a. for standard and premium cars Rs.1.8 lakh p.a. for standard and premium cars
    Income Proof Latest ITR Form 16 and latest salary slip ITRs for the past 2 years, computation of income, and audited financials of 2 years
    Job Stability Minimum of 3 years with the same employer Minimum of 1 year of employment in the same stream of business Minimum of 3 years of employment in the same stream of business

    HDFC Bank

    If an individual applying for a car loan from HDFC Bank is a salaried applicant, he/she should be aged between 21 to 60 years. If the applicant is self-employed, the applicant should be aged between 21 and 65 years. The eligibility criteria for HDFC Bank:

    Self-Employed Individual Salaried Self-Employed Non-Individual
    Income Rs.60,000 p.a. for standard cars and Rs.1 lakh p.a. for mid-sized and premium vehicles Minimum annual income of Rs.1.8 lakh which includes the income of a spouse or co-applicant Rs.60,000 p.a. for standard cars and Rs.1.5 lakh p.a. for car loans
    Income Proof Latest ITR Form 16 and salary slips ITRs for the past 2 years, computation of income, and audited financials of 2 years
    Job Stability Should be in the business for a minimum of 2 years Minimum employment of 2 years and a minimum of 1 year employed with current employer Minimum of Rs.2.5 lakh p.a. turnover

    Perfect Car Loan Deals for you

    Car Loan Documentation:

    Documents required to support car loan applications can vary depending on the lender.

    Documents commonly required are:


    • Proof of employment: Appointment letter/ Employer’s certificate/ Business establishment documents like MOA or partnership deed etc. (depending on the type of employment)
    • Proof of income: In the form of latest Salary slips/ Bank Statements/Audited Statements of Accounts (depending on the type of employment) (salaried/self-employed)
    • Proof of tax paid: Form 16 or ITR forms (depending on the t.ype of employment)
    • Proof of age: Driving License/ Passport Copy/ Voter’s ID
    • Proof of address: Passport copy/ Voter’s ID/ Rental agreement/ Property Deed/ Water or Electricity or Landline or Gas Bill
    • Processing fee cheque and photographs

    Car Loan Eligibility - Factors

    • Income levels: Higher the income better the chances for a higher loan amount
    • Income regularity: Regular income improves chances for loan approval
    • Kind of Car: New cars are more easily financed than used cars; a high-end model will be expensive which means the borrower has to be able to pay the portion not funded by the loan (LTV ratio)
    • Longer tenors will enhance repayment capacity
    Apply for Car Loan Online

    Are You Eligible for Car Loan?

    A multitude of options makes it difficult for borrowers to gauge their eligibility for a car loan from each lender.

    Bank Bazaar resolves this issue by allowing users to input their background information in a user-friendly way for instant quotes.

    The results are displayed in a convenient manner so as to facilitate easy comparison of car loan offers from different lenders.

    Once users choose the offer of choice they can apply for the same availing unique deals offered by Bank Bazaar through partner collaborations.

    News About Car Loan Eligibility

    • Kenichi Ayukawa, MD of Maruti Suzuki, says that their next car should be made in India

      The managing director of Maruti Suzuki, Kenichi Ayukawa, started heading the largest selling automaker of India in April 2013. Before he started his tenure with the company, the market share of the company was 42%. He increased it to over 50% in the April to June quarter.

      When Ayukawa came to India in 2013, the scene at Maruti’s IMT Manesar plant was very dangerous and violent. He put in a lot of effort by interacting with several workers directly. He also worked towards comprehending the prevailing situation and offer resolutions to each person.

      He says that Maruti has excellent growth prospects in the Middle East and Africa. The company also sends certain products to Europe.

      He states that the platform for Vitara Brezza was made in Japan, but the body of the car model was designed in India. He intends to start production in India with the help of Indian engineers for the next car model.

      9th August 2017

    • First-time car owners buying Dzire, Swift over WagonR, Alto

      Maruthi Suzuki India, a company that has scores of first-time car owners at their doors for their first four-wheeler, are now buying the company’s Swift and Dzire variants over the Alto and WagonR. A while ago, only one out of every three first-time car owners purchased the Swift and the Dzire. But now one out of every two first-time buyers purchase these models. This indicates a growing level of popularity of these models among the people. The number of people purchasing the Swift in the fiscal year of 2013-14 stood at 31% of the number of Swifts that were sold, that percentage has risen to 52% in the June quarter of the fiscal year of 2017-18. This shows that there is a growing move towards premium cars in the Indian auto markets. This has also increased the company’s annual earnings.

      8th August 2017

    • Order backlog of Maruti Suzuki Vehicles reaches 1.5 lakh units

      Maruti Suzuki India Ltd. are now sitting on an order backlog of nearly 1.5 lakh units of the Baleno, new Dzire, and Vitara Brezza. The waiting period of these vehicles stands at 22 weeks for the Brezza and 16 weeks for the Baleno and Dzire. The company tries to meet the strong demand that the general public has created for these cars. The company is set to roll out a new variant of the S-Cross and a new petrol variant of the Brezza. The company plans on bringing out new models of private vehicles to improve the growth momentum and sustain market share. Maruti Suzuki plans on opening a second production line in Gujarat by 2019.

      31st July 2017

    • Mahindra TUV300 Compact SUV: Test Drive Results

      A new launch from one of India’s top car manufacturer is always eagerly anticipated. Mahindra’s TUV300 is to hit the market soon and is expected to be a crowd-puller. As one of the better looking cars from Mahindra, the TUV300 has been well-designed with pronounced wheel arches. The front part of the new TUV300 carries a multi slat grille with a set of stylish headlamp units that match well with the overall design. Additionally, Mahindra has installed rectangular fog lamps which tune in perfectly with the macho outlook.

      The rear end of the vehicle is also crafted accurately with a large tailgate, mounted spare wheel and vertically stacked tail lamps. The TUV300 is touted to be a competitor for the Ford Ecosport, but has actually received mixed reviews after test drives. The real impact of the new Mahindra vehicle can be judged only after the launch. Banks in India would be vying with each other to provide affordable car loans and the best financing deals to customers opting to buy the Mahindra TUV300.

      9th October 2015

    • Hyundai launches AVN system in its Elite i20 and i20 Active

      Hyundai automobile manufacturer has launched a 7-inch audio-video triangulation system in its Elite i20 and i20 Active make. The Hyundai Elite i20 is the premier retailing tailgate in its segment with an assortment of special features to its list. It was already announced that Hyundai was all geared to add a touch screen infotainment system in its Elite i20 and i20 Active to persevere in the extremely competitive market. They say that the new system gives a ‘human touch’ to the cutting-edge technology and the firm through its press release gave out other details such as 7-inch touch screen with maps, satellite-based voice directed navigation, back camera display and comprehensive entertainment and connectivity facets in the car.

      22nd September 2015

    • Suzuki iM-4 to be known as Ignis

      With the type of jam-packed roads we have, a subcompact car would be quite a favorite among many potential car buyers. At the Geneva Motor Show 2015, Suzuki displayed the iM-4 mini SUV. While it has been off the limelight since then, latest reports advocate that when the vehicle hits the market, it could be renamed as the Ignis. For those who haven’t heard of the name, Ignis, Suzuki traded it in the global marketplace from 2000 to 2008. A version of the manufacture-spec make was dispatched on Suzuki’s Instagram fan page and it seems to resemble the concept of iM-4. As far as the Indian automobile market is concerned, it is yet to be seen if it will be brought to our country.

      18th September 2015

    • Volkswagen Beetle Set to be Launched in India Soon

      The latest model of Volkswagen Beetle is set to be launched in India, by the end of this year. It will be sold in limited numbers and will sport a dynamic and muscular look compared to the earlier model. The iconic brand intends to showcase a combination of retro design and latest technology in the making of the new Volkswagen Beetle. It will have unique features like bigger wheels, Daytime Running Lamps and larger windscreen. It is expected that features such as satellite navigation, keyless entry, and a sunroof will also be included in this model.

      28th August 2015

    • Mahindra TUV300 to grace the market in September

      The sub-4 meter part of automobiles is a win-win situation for the vehicle makers as well as the target buyers, mostly for the excise duty perks that cars in this category can avail from our government. And it is no miracle that the companies are vying with each other to mark their presence in this arena. Ford has enjoyed a fair share of triumph with the EcoSport and now Mahindra is geared up to join the club with its TUV300. The Nashik-centered car manufacturing company has already publicized that they will inaugurate their compact SUV TUV300 in September 2015.

      26th August 2015

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