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Car Loan BYTES FROM OUR KITCHEN

You're eligible for a Car Loan if you:

01
02
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Are legally adult enough to handle it

Have still got it

Get a regular pay check

Make more than a basic buck


Your eligibility depends on

01
02
03

Minimum income required
Rs.2,40,000 per annum

Loan capped @
85% Ex-Showroom price

EMIs of other loans lower
your eligibility


Boost your eligibility by

01
02

Pay off your credit card bills

Choose longer tenure loan up to 5 Yr years


Nothing gets done without that paperwork (which we'll happily carry over to the bank for you, no sweat). Here's what you'll need:

  • 1. Photo ID and age proof
  • 2. Signed application form with photograph
  • 3. Residence proof
  • 4. Last 6 months bank statement
  • 5. Documentation for salaried applicants:
    • Last 3 months salary - slips
    • Form 16 or Income Tax Returns
  • 6. Documentation for self-employed applicants:
    • Last 3 years Income Tax Returns with computation of Income
    • Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

Car Loan Interest RatesUpdated on

Car Loan Details
Interest Rate (Monthly reducing balance) 10.5% - 12.75%
Processing Fees Rs. 500 to Rs 5,000
Loan Tenure 1 year to 5 years
Pre-closure Charges 2% to 4% on outstanding loan amount
Guarantor Requirement No guarantor required

An Overview About Car Loan

Car loans are the simple means to a glorious life milestone- owning your dream car. Almost all of us want to own that shiny set of wheels and drive it triumphantly, into the sunset. However, owning a car (vehicle in general) in India is a costly proposition, one that usually demands the impetus of a sizable financial assistance from banks/ financial institutions that have dedicated loan products in this regard. Almost all private/public sector lenders in India offer car loan options with terms and conditions that are highly customer friendly, affordable and scalable. By qualifying against a very simple list of identity, income and credit history qualifications, you can be the proud owner of your own brand new car.

Why Choose a Car Loan?

Choosing a car loan in India has two distinct reasons and advantages. Firstly, cars are expensive. This is a costly investment that is usually not completely affordable in the case of a typical middle class Indian. While his/her savings may account for a sizable portion of the purchase amount of the vehicle, a significant portion of the aforementioned purchase must be covered by the amount as provided by the car loan. Secondly, massive purchases (such as buying a car) with liquid cash could get you on the IT department’s radar, plus, you lose the chance to build up crucial credit history by subscribing to a car loan and religiously adhering to the repayment cycle. The credit history thus built, will help you procure more loans in the future. Hence, car loan in India are the surest and safest way to purchase your ideal vehicle.

Features & Benefits of Car Loans

When it comes to car loans in India, in general, the following features and benefits are freely offered. Note that, the following is a generalized look at the advantages offered by car loans in general. Individually, car loan lenders may have highly customized and specialized offerings for their customer base.

  • Helps you purchase a better car than the one available in your budget. While this may not be a rule, it holds true for a vast majority of car purchasers in India.
  • Allows you to procure a vehicle quickly- without spending too much time arranging for the money through the time tested concept of ‘saving for it’.
  • Helps you manage the cost of purchase of the new car by spreading it across a longer duration of time. Thereby, this keeps you in control of your spending and makes the car much easier to pay for.
  • Most car loan offerings in India are secured loans, meaning, the car serves as the security/collateral for the loan. This poses little financial risk for you- at worst, you default on the repayments and lose the car, plus your credit score is damaged to smithereens. However, you do have a measure of control over the proceedings. PS- Don’t default on your car loan EMIs.
  • Procuring a car loan is usually simpler as compared to other loan products. Individuals with slightly unsavory credit scores can also hope to nail one down. However, this option differs from bank to bank.
  • Car loans in India often utilize the fixed interest rate option when it comes to repayment via EMIs. This means, you are always assured of a fixed amount that needs to be repaid on a monthly basis. This takes the surprise out of the financial planning that goes into the car purchase process. Thank god for that!!
  • The actual maximum loan amount depends on the vehicle to be purchased and varies from bank to bank. Mostly however, this is 100% of the vehicle’s on-road price. The repayment tenure usually stretches from 5-10 years and offers different interest scales for different tenure slabs.
  • Most importantly, a car loan helps you buy your dream car. Aside from being a purely transport option, the car serves as a confidence booster and your means to assert the hard earned financial freedom.

Why Apply for Car Loan on BankBazaar.com?

BankBazaar.com is an online aggregator of car loan products as offered by banks and other financial institutions across India. Perceptively, checking out and applying for a car loan on this customer friendly website offers the following unbeatable advantages-

  • Comprehensive List of Car Loans

    Browse through and get all the information about the most popular car loans available in India. Having so many options before you allows for informed decision making, based on the analysis of the various features, pros and cons offered by the car loans.

  • Compare and Select

    Breeze through all the car loan options before you and select the one that best satisfies your requirements and respects your limitations. Traditionally, this step would entail a lot of running around and enquiries, however, BankBazaar.com turns this into an intensely informative, interactive and private affair that could be completed from the comforts of your home or office.

  • Check your Eligibility

    A simple and interactive wizard helps to ascertain your qualification for the car loan and throws up the best options in line with your requirements. This saves time and cuts out the middlemen.

  • Easy Application Process

    Applying for a car loan on BankBazaar.com is as simple as simple can be. After selecting your car loan and furnishing some essential details on the website, the process is taken over by the bank offering the car loan. Save on all the leg-work, get your car loan with a few clicks on the computer mouse.

  • Robust Customer Support

    Have a query or concern with regards to the car loan in question? The expert customer support team from BankBazaar.com is always at hand to sort all your issues. Procuring that ideal car loan was never more simpler.

  • 100% Free

    Making use of the various offerings from BankBazaar.com, including friendly tools like ‘Car Loan EMI Calculator’ is completely free of charge. Convenience meets simplicity, at 0% monetary investment.

Applying for a car loan on BankBazaar.com involves the following steps,

  • On the BankBazaar.com homepage, browse through the various menu items listed on the navigation bar at the top of the page. Select the first item on the list named ‘Loans’. Herein, select ‘Car Loan’. ed
  • Immediately, on the adjoining drop-down, you can see a whole listing of car loan offerings from various lenders in India. Alongside this, the options ‘Get Quote’ and ‘Explore’ are also easily visible.
  • ‘Get Quote’ and ‘Explore’- Clicking on either of these options will unveil an interactive wizard that will help us determine your exact requirements and expectations with regards to the car loan. Complete the forms before you and provide specific information as and when required. Next, choose from the various car loan options that are suggested as best fit scenarios for your requirements.
  • Continuing from point 3 (post the choice of a car loan product) and point 2 (selecting a car loan product directly from the main dropdown without running through the wizard), the page spread before you provides complete information about the selected car loan product.
  • The page details almost everything you need to know about the car loan, plus offers additional details through helpful links like ‘Check Eligible Loan Amount’ and ‘Check if you’re Eligible’. The ‘Apply Now’ button is prominently displayed on this page (the exception being in cases where BankBazaar.com isn’t a partner of the concerned bank/financial institution and thus, isn’t authorized to facilitate the application for the respective car loan product). Click on this button to set your car loan application process in motion.
  • Spread before you is an interactive loan application form. Complete the same and provide all the information as required. This form is next forwarded to the concerned bank for further processing. Ideally, the concerned bank will get in touch with you within the next 48 hours.
  • From this point on, the concerned bank will keep it touch and will provide you express details about the status of your loan application. Routine SMS and email intimations will constantly keep you in the loop, and our dedicated customer support team can be reached 24x7 in case of any concerns or queries with regards to your loan application.

In terms of popularity, the following banks offer the most sought after car loan products in India,

HDFC Bank Car Loan- Funding 100% of the intended car’s on-road price and offering a repayment tenure of upto 7 years, HDFC bank has always been a solid option when it comes to car loans in India. The terms offered by this loan product is very flexible, and the cake gets even more sweeter for existing HDFC bank customers who get the option of pre-approved car loans. Whilst the bank offers a very competitive interest rate on its car loan product, the prospect of EMIs amounting to just Rs.1671/lakh makes the deal that much more lucrative. No wonder car loans from HDFC bank have always remained an enduring favorite amongst the Indian public.

Aside from the features listed above, HDFC Car Loan offers quick and hassle free loan processing, fixed interest rates that aren’t affected by market fluctuations, the option for car loans without the necessity for income proof and associated documents, car loans amounting to 6x of your annual income, and other such customer friendly features that are backed by a robust customer support initiative. Indeed, car loans from HDFC bank are feature rich, affordable, immensely popular and worth your undivided attention.

ICICI Bank Car Loan- When it comes to a complete, feature-rich car loan option in India, few can match upto the versatility and simplicity as afforded by the ICICI Bank Car Loan. Offering funding to match 100% of the ex-showroom price of the vehicle, the car loan experience at ICICI is driven by powerful 24x7 customer support and ICICI’s brand of customer relationship management. The other pleasing features include loan tenure of upto 7 years, pre-approved car loans for existing ICICI customers, minimal documentation, hassle free application process and a simple option to apply for the car loan online. ICICI bank has configured its car loan product to be as customer friendly and approachable as possible.

When it comes to a typical Indian customer, the applicable interest rate and the other associated charges holds great prominence with regards to the prospective car loan. In both these cases, the car loan from ICICI bank rules the roost. Alongside these factors, the consistent goodwill enjoyed by the ICICI bank and the positive feedback that it consistently receives with regards to its loan products must prove ample reasons to invest your interest in ICICI bank car loans, when you are out looking for one.

SBI Car Loan- As India’s premier public sector bank, the State Bank of India (SBI) enjoys a level of popularity and support from the general public that few other public/private sector Indian banks can match upto. In this light, the SBI Car Loan is an intensely customer centric loan product. Offering very competitive interest rates, comfortable repayment tenure of upto 7 years, loan amounts that match upto 85% of the proposed vehicle’s on-road price and 0% pre-payment or foreclosure charges, the SBI car loan has its legion of loyal and enduring fans. Unique features such as the overdraft facility and the provision of optional SBI life insurance cover has contributed to SBI car loans’ lasting popularity.

For a typical, first time car loan subscriber, the numero uno priority is in relation to the confidence, comfort and simplicity that his/her choice of car loan provider can elicit. In this regard, the public sector behemoth named SBI has little competition in India. Known for its people centric approach, the car loan product from SBI is highly sought after and will continue to remain a premier choice in the years to come.

Axis Bank Car Loan- A premier private sector bank, the car loan product from Axis Bank is commended for its simple application procedures, customer friendly terms and conditions, robust customer support initiatives and adherence to the modern ways of personal banking. The bank offers upto 85% of the proposed vehicle’s on-road price, and in the case of some select car models, this number can hit 95%. Other friendly features include an attractive interest rate, comfortable repayment tenure ranging from 1-7 years, provision of loan to a wide demographic of individuals including salaried, self-employed, partnership firms, corporates, limited liability partnerships, etc. The true strength of the Axis Bank Car Loan is the wide popularity it enjoys amongst its target audience.

Simplified eligibility criteria, minimal documentation and the ease of online application are some of the features that work strongly in favor of the Axis bank car loan. The bank has in store, car loan offerings that match upto the most discerning tastes and complies with the most budget conscious requirements. Configured to emerge as the most ideal car loan product available in the Indian market today, the Axis bank car loan will surely engage 100% of your undivided attention.

Comparing Car Loans from Different Banks

Bank. Loan Amount.Tenure.Interest Rate.Features.
HDFC Bank100% (ex-showroom price)Upto 7 years10.50%-12.50% (depending on individual factors)
  • Fixed interest rates.
  • Loan approval in 30 minutes flat.
  • Low down payment and lower EMIs.
ICICI Bank100% (ex-showroom price)Upto 7 years10.75%-12.75% (depends on the loan tenure)
  • 100% funding matching vehicle’s ex-showroom price.
  • Very streamlined loan application, approval and disbursement process.
  • Easy online application process.
SBI 85% (On-road price, when net annual income is upto or above Rs.10 lakhs)Upto 7 years10.30% (may range upto 11.10% for differing conditions)
  • Interest calculated on daily reducing balance.
  • Financing based on the vehicle’s ‘on-road’ price.
  • No advance EMI.
Axis Bank85% (ex-showroom price) 95% (on select models)Upto 7 years11.50%-12.50% (depending on individual factors)
  • One of the best interest rates offered in India.
  • Special schemes for Axis Bank salary account holders.
  • Loans offered from a minimum of Rs.1 lakh onwards.
Magma Fincorp100% (ex-showroom price)Upto 5 years12%-16% (depending on individual factors)
  • Min loan amount- 3x annual income (salaried), 6x annual income (self-employed).
  • Minimal documentation.
  • Easy online, offline application process.

When it comes to selecting the car loan that works best for you, some fundamentals will come in handy. The following list explains the do’s and don’ts when choosing the right car loan,

Compare, Compare, Compare

Check out the maximum number of options available to you. Not all car loans are created equally- and finding the best loan could involve some work. BankBazaar.com can help you here by helping you check out and compare between the various car loan and used car loan options available to you.

What’s the Interest?

The applicable interest rate is potentially the biggest factor when it comes to choosing the right car loan. Not surprisingly, the lower the interest rate, the better. This condition holds true even when a lower interest rate would mean that some of the expected features aren’t available in the loan.

Keep it Simple

Pay heed to your financial limitations and choose a car model that perfectly suits your budget. This will imply that your car loan is in line with your set requirements. Don’t fall prey to up-selling tricks at the car showroom.

Hidden Fees and Charges

Sometimes, what appears as obvious will have a hidden component. Be completely aware of the hidden fees and charges concerning the car loan, as also be cautious of time bound incentives and packages- they will expire soon and you may be left with a lesser deal than you hoped for.

When applying for a car loan in India, across any of the possible lenders, the following documents must be submitted for verification. Note that, in their individual capacity, the lender may request you for more proofs and documents.

  • Know Your Customer (KYC) Documents, including, identity proof, address proof, age verification, completed application form with photographs and substantiated signatures. The associative documents could include PAN card, Voter’s ID, Ration Card, Aadhaar Card, etc. (any government issued document).
  • Income Proof as proved by 6 months bank statement, upto 3 months salary slips and income tax returns.
  • PAN Card- this helps to establish the potential borrower’s credit history.
  • If the applicant is self-employed professional/ non professional or a business/partnership firm, the bank may demand for a number of additional documents including business ownership proof, profit-loss documentation, etc.

In order to be eligible for a car loan in India, the applicant must qualify against a certain set of expectations. Generally, car loan eligibility is dependent upon the following factors-

  • The applicant must be an Indian citizen.
  • He/she must not be younger than 21 years and older than 60 years at loan maturity.
  • The applicant must have a secure employment, with regular income and tenure at the same job for atleast 2 years.
  • He/she must have a respectable annual income that properly demonstrates his/her capacity for loan repayment. If spouse is signing up as co-applicant, then his/her salary is also considered.
  • Must possess a landline/cellphone that marks his address, and occupation of that address for an expected duration of time.

Kindly note that all the numbers and variables here may differ from bank to bank. In their individual capacity, banks may have additional qualification procedures.

The interest rates applicable to car loans in India will differ from bank to bank. These lenders depend on their unique criteria and base lending rates to decide upon the applicable car loan interest rates. However, in India, car loan interest rates ranging between 10%-15% are generally expected and considered competitive. Kindly refer to individual banks’ car loan pages on BankBazaar.com for more information in this regard.

When we speak of a Car Loan EMI Calculator, we are referencing to an online tool that assists in the electronic computation of the Equated Monthly Installments (EMI) as applicable to your car loan. On BankBazaar.com, the interactive, time saving and informative Car Loan EMI Calculator will simplify this otherwise tedious and uninspiring task. This calculator exhibits the following characteristics,

  • Speed- Precise, informative EMI calculations in mere seconds.
  • Comprehensive Information- Get info on EMI, amortization details and much more.
  • 100% Free- Making complete use of this friendly tool costs you nothing, now and forever.

Car Loan Application Checklist

Step.Requirement.Inference.
Submit Income ProofBank Statement (last 6 months)
Pay-Slips (last 3 months)
IT- Returns (last 2 years)
Lender wants to establish your ability to repay the borrowed amount.
Submit Proof of Address and IdentityPAN Card, Voter’s ID, Aadhaar Card, Passport, etc. Lender wants to establish your nationality, identity and permanent address.
Credit HistoryPAN Card Lender wants to check your past credit records and establish if you can be trusted to make regular repayments.
Information About VehicleSales Receipts from the Showroom from wherein the Vehicle was Purchased.Lender must confirm that the deal was affected as intended.
Proof of Insurance and Driving LicenseCopies of the Vehicle’s Motor Insurance and your Driving License.Lender must establish that all laws and protocols are followed with regards to the purchased vehicle.

How much funding can I expect in terms of the car loan?

This factor differs from bank to bank. While some banks offer the complete 100% of the vehicle’s ex-showroom price, banks such as SBI offer upto 85% of the vehicle’s ‘on-road’ price. Generally however, the minimum loan amount will be equal to Rs.1,00,000.

Can I pre-pay the entire loan amount? What are the conditions involved?

Yes, you can prepay the entire car loan and save on vital interest payments in the future. However, most banks will allow the pre-payment option after you have chalked off 6 months on your loan tenure. Plus, you will be expected to pay a small fee as pre-payment penalty that will be dependent on the leftover loan amount.

What car models are financed by the standard car loan in India?

Unless otherwise specified, almost all small to medium sized cars, Sports Utility Vehicles (SUV) and Multi Utility Vehicles (MUV) come under the purview of car loans available in India. However, as mentioned, refer to the loan brochure for exceptions to this rule.

When applying for the car loan, do I need a guarantor/ security?

Almost all car loan products available in India are secured loans, with the procured vehicle itself acting as the customary security. Most lenders in India will not insist upon any guarantors, however, if your annual income does not match upto the expected requirement, then you may be expected to sign-up a co-applicant and/or guarantor.

What are the commonly available car loan repayment tenures?

Repayment tenures usually range from 12 months to 84 months (1-7 years).

The Diwali Dhamaka Flash sale is back again! Apply for a car loan through BankBazaar.com and upon approval of the car loan, you not only get to own your dream car but you can also purchase any item of your choice with a complimentary Amazon Gift Voucher worth Rs. 5,000. This promotional offer is valid for all car loan applications made from October 18th, 2015 to November 14th, 2015.

Once the car loan application has been successfully sanctioned by the concerned bank, customers will receive the Amazon gift voucher in the e-mail address specified in the loan application form. The car loan approval has to be made by the bank by January 15th 2016, at the latest, otherwise the applicant will not be eligible for availing the promotional offer. This offer is valid on car loan products offered by specific banks only. In order to identify the same, a banner has been placed against relevant products, which displays the Flash Sale/ Amazon Gift Card Badge.

Individuals who are 18 years old or above, are eligible to apply for a car loan through BankBazaar.com and avail this offer. The validity of the promotion is restricted to only one voucher per product for an applicant.

Thinking of buying that new car you saw in the showroom? Want to upgrade your car to a bigger one for the convenience of your extended family? Looking out for a Car Loan? Whatever your need may be, you can easily avail a car loan through BankBazaar.com.

Now, finance your dream of buying a car with an additional bonus! BankBazaar.com has been offering various offers and promotions on various financial products time and time again and this time we are offering you an exciting promotional offer on car loans. This limited period car loan flash sale will be available on car loan applications made through the site, wherein you can get an Amazon gift card worth Rs.5,000 for approval of your car loan by the respective bank.

In order to be eligible for this offer, the following conditions must be met:

  • BankBazaar.com, owned and operated by A&A Dukaan Financial Services Private Limited, is offering this promotion from 13th December, 2015 and it expires on 26th December 2015, and only those who apply for a car loan during this period is considered eligible for the offer.
  • The time frame permitted for the Car Loan approval by the concerned bank is 15th February, 2015.
  • E-Gift card requests for Car Loan approval beyond this period, is not entertained.
  • The applicants must be at least 18 years old or above, at the time of loan application.
  • Only one application per customer will be considered for the offer.

The E-Gift card offer is valid for car loans from select banking partners only and these Banks will have the Amazon Gift Card banner.

Terms and Conditions

  • Cash or credit will not be available as an alternative for the E-Gift card, under this offer.
  • A prohibition is instituted on the resale, reproduction, trade or modification of the E-Gift card.
  • This Promotional offer cannot be clubbed together with any other deal, offer or promotion.
  • Employees of BankBazaar are ineligible for participation in the Promotion.
  • Modification of, addition to or discontinuation of the Promotion and/or its terms and conditions at any point of time without any prior notice, is the sole discretion of BankBazaar.
  • The eligibility of the participants to receive the E-Gift Card from Amazon, is verified solely by BankBazaar. By being a part of this promotion, the participants confirm their acceptance of the stipulated terms and conditions.
  • Any loss or damage of the e-gift card from Amazon is not a liability of BankBazaar.com, once it has been issued to the applicant.
  • The E-Gift cards would not be replaced or cancelled once it has been issued to the applicant.

Once a customer is eligible and meets all the terms and conditions stipulated, the E-Gift card that he/she is qualified for is sent to the customer's e-mail address that is specified in the loan application form, upon the concerned bank's approval of the Car Loan application.



News About Car Loan

  • Refreshed Chevrolet Beat Launched

    The Chevrolet Beat was launched with improved features and other updates. The top end models of the car now comes with airbags for the driver and passenger, Anti-lock braking system (ABS), and Electronic brakeforce distribution (EBD). The base variant is equipped with airbags for drivers. The Beat is still powered by the 1.2 litre petrol engine and the 3-cylinder diesel engine. The interiors have been enhanced with a silver interior theme, multi-function steering wheel, and height-adjustable driver seats. The Beat also gets a foldable key with remote keyless entry. These changes can be seen in the top-end variants.

    The exteriors of the car received a makeover which includes body-painted door handles, headlamps with black accents, and the tail-lamps are available in both clear glass and coloured style. It also has been fitted with fog lamps with chrome inserts, reworked bumpers and a new rear spoiler. The updated Beat boasts of 25.44 kmpl diesel mileage and 17.8 kmpl petrol mileage. The refreshed Chevrolet Beat is priced in an affordable range of Rs. 4.28 lakhs but car loans are a good option to buy this car without the financial strain.

    BankBazaar News About Loan

    4th February 2016

  • Maruti to showcase three models at the Auto Expo 2016

    The Auto Expo 2016 is coming up and Maruti Suzuki is expected to showcase five new models, however only three have been confirmed. Maruti Suzuki, India’s largest car manufacturer, has set its theme to be “Transformotion”. It stands from “Transformation through Motion” which is exactly what Maruti intends to do with its new launches. There are three models that have been confirmed to be shown at the Auto Expo 2016. They are the Ignis, Vitara Brezza, and the Baleno RS Boosterjet. The two other cars that have been speculated to appear at the Auto Expo 2016 are the Wagon R 7-seater and the Alto 800 facelift with Diesel options. The Ignis will probably share the 1.3 litre diesel and 1.2 litre petrol engines in the Swift. The Vitara Brezza will enter into the compact SUV segment. The Baleno RS Boosterjet will be the latest hot hatchback falling under Rs. 10 lakhs. With price rises and new models being launched, it’s a good time to shop for car loans to get the best cars in the market.

    BankBazaar News About Loan

    3rd February 2016

  • Maruti Suzuki to Launch a Diesel Automatic Variant of Swift Dzire

    To cater to the growing needs of compact sedan enthusiasts, Maruti Suzuki is planning to launch an automatic diesel version of Swift Dzire. This new automatic diesel variant of Swift Dzire will also get a Suzuki vehicle Hybrid System or SVHS which helps conserve fuel and is essentially a start-stop system. The new Suzuki Swift Dzire Automatic will feature the same AMT unit supplied by Magnetti Marelli and will be mated to a 5-speed gearbox that is available in the Dzire. This new offering will compete with Tata Bolt diesel which is currently the only automatic diesel sedan in India. The new Swift Dzire is expected to be priced above standard diesel variants and will come in ZDi and VDi trim levels along with the respective ZDi+ and VDi+ trimes. With diesel variants gaining popularity and given Swift Dzire’s impeccable brand image, it will come as no surprise if this car takes the market by storm.

    Are you planning to buy a brand new car, diesel or automatic? Make sure you do your research on car loan and interest rates on BankBazaar. Also, you can instantly apply for a car loan and get an e-approval in minutes at BankBazaar.

    BankBazaar News About Loan

    20th January 2016

  • Volkswagen Spotted Testing a Polo-based Compact Sedan

    For people who are looking forward to new cars in the compact sedan segment, there is good news as Volkswagen was spotted testing a polo-based compact sedan ahead of the Delhi auto expo. This new car, codenamed ICS, was initially delayed due to proportions and styling. This car looks more or less like Polo with identical frame and an elongated boot. This car is expected to feature a 1.2-litre MPI and TSI engine for petrol variant and for diesel, a 1.5-litre diesel engine. This new compact sedan from Volkswagen will compete with Tata Zest, Maruti Swift Dzire, Hyundai Xcent, Figo Aspire and Honda Amaze.

    Looking to buy a brand new compact sedan this new year? Check out for amazing car loan options on BankBazaar and get the best car loan interest rates in market!

    BankBazaar News About Loan

    19th January 2016

  • Upcoming Hatchbacks and Sedans in 2016

    2015 has been a very interesting year for automobiles industry. 2016 is expected to be even better with some famous cars to be launched. There are high expectations on Tata Zica, which is all set to feature the best interiors and design. This car flaunts a new generation of diesel engines that Tata has developed, fondly called the 'Revotorq'. Volkswagen Polo GTI is another performance hatchback to be launched in 2016 that people are waiting for. The all new Polo GTI can go from 0-100 Km/hrs in as less as 6.7 seconds. Another tempting factor is the design that it features - 17-inch alloy wheels, honeycomb mesh grille, LED Headlights, red brake callipers and sports upholstery. Skoda Superb is another luxury sedan that is set to debut in the coming year. With 1.8 TSI petrol and 2.0 TDI CR diesel as options, Indian automobile enthusiasts will sure look forward to Skoda Superb which is to be launched in March. Volkswagen Passat is expected to launch in February 2016 and is to be priced between Rs. 24 lakhs to Rs. 27 lakhs.

    Chevrolet Cruze gets an exciting new design and will be sleeker, longer and lower in height than the previous model. Honda Accord, Toyota Vios and Fiat Egea are some other cars to be launched in 2016 that has set the bar of expectations very high.

    So many cars, so less money? Embark on a new beginning this year by getting your dream car! Apply for a car loan online and get instant approval on BankBazaar. Plan your finances well ahead by using a car loan EMI calculator.

    BankBazaar News About Loan

    12th January 2016

  • Know all there is about Mercedes Benz SLC and SLC 43 AMG

    Mercedes Benz SLC, the upcoming sports car from Benz, already has high expectations. The all new SLC is a modified two-seater roadster coupe and will come with a range of powertrains to choose from. Mercedes Benz SLC will sport a turbocharged 1.6-litre petrol, 2.2-litre diesel unit and two turbocharged 2.0-litre mills. The engines are charged to produce powers between 155 PS to 243 PS for the SLC 300 petrol variants and a surprising 201 PS of maximum output for the 250 diesel variants. Mercedes-Benz SLC 43 AMG, the top model of the SLC range, flaunts a twin-turbo, V6 petrol unit. This car will also feature 9G Tronic 9- speed automatic gearbox and will generate 363 PS of maximum power. The SLC range comes with the latest upgrades and changes and will feature optimized automobile technologies for better performance. Blind Spot Assist, radar-based proximity warning, active Brake Assist and braking assistance are some of the safety features that SLC riders will enjoy.

    Looking to buy a luxury car? Check out for car loan options on BankBazaar and get the best interest rates in market!

    BankBazaar News About Loan

    11th January 2016

  • New Mercedes-Benz Dealership Opened in Dehradun, Uttarakhand

    Mercedes-Benz has introduced its new luxury car dealership in Dehradun, Uttarakhand and it was inaugurated by CEO and Managing Director of Mercedes-Benz India, Roland Folger as well as by the Managing Director of Berkeley Motors, Ranjeev Dahuja. This is a 3 S dealership, i.e., the focus is on providing Sales, Service and Spares. In 2015 alone, the auto manufacturer has introduced 13 outlets in India, as a part of its network penetration strategy. Dehradun was the chosen location for this latest outlet since it has witnessed tremendous economic growth recently.

    BankBazaar News About Loan

    08th January 2016

  • New Volkswagen Beetle Launched in India

    The leading European car manufacturer, Volkswagen has announced the launch of its 21st Century Volkswagen Beetle. The iconic car will make its way into the Indian market starting at Rs. 28.73 lakhs (ex-showroom price of Mumbai). The car will be sold across select Volkswagen dealerships across the country. The 21st Century Beetle retains its core DNA and lives up to its unique style. The Beetle has made history in the automobile industry for six decades and continues to carry forward its timeless charm combined with its new-age look. It also involves the modern technology making it irresistible.

    BankBazaar News About Loan

    08th January 2016

  • Comparison of the latest Hatchbacks in the Market - Will Tata Zica make an Impression?

    Tata Motors is all set to conquer the compact-hatchback segment again with the Zica. Tata Zica is expected to offer the best of performance, features, comfort and space. If we are to compare Tata Zica with other rivals from the same segment including Maruti Suzuki Celerio, Chevrolet Beat and Hyundai Grand i10, it is obvious that Tata Zica stands out. When it comes to design, Tata Zica stands right below to Chevrolet Beat and makes a cut above Celerio and Hyundai Grand i10. Though Tata Zica is not spacious when compared to Grand i10, it still ranks high because of the generous boot space, longer wheelbase and its high width and height. Tata Zica will also feature a new generation of diesel engine, the “Revotorq”, with a 1.05 litre, 3 cylinder turbocharged unit. The engine will generate a displacement of 1047 CC and will produce a torque of 140 Nm @ 1800 - 3000. Tata Zica also emerges as the winner when compared to its rivals in terms of engine output. The verdict is that Tata Zica has the potential to make a mark in the compact hatchback segment and if priced reasonably, will be the undisputed winner.

    Planning to get a new hatchback? Done with your research online about the car’s features? Now, check out some amazing car loan options on BankBazaar and bring that dream car home. You can also use BankBazaar’s car loan EMI calculator to plan your finances well in advance.

    BankBazaar News About Loan

    06th January 2016

  • New and Facelift Hatchbacks making their way to the Indian Car Market

    Hatchbacks have been the staple car in India. Hatchbacks are compact and easy to maneuver making it easy to drive on Indian roads. A few hatchbacks to look forward to in 2016 are the Tata Zica, Volkswagen Polo GTI, and Datsun Go Cross. A few cars that have received a facelift and are launching soon are the Maruti Suzuki Alto 800, Honda Brio and the Hyundai Eon. These cars could result in more car loans being taken out. The Zica from Tata should be priced under Rs. 5 lakhs and launched by early 2016. The well-known Alto 800 will also be under Rs. 5 lakhs. The car has been transformed and will be launched with a bold new look in the next few months. The Datsun Go Cross will be priced under Rs. 5 lakhs in India and will bear the “Cross” tag. The new Honda Brio and the new Hyundai Eon are both expected to be priced under Rs. 5 lakhs. Both cars are expected to hit the market late in 2016. The Volkswagen Polo GTI will make a grand entrance by the middle of next year in a price range of Rs. 10 lakhs to Rs. 20 lakhs.

    BankBazaar News About Loan

    04th January 2016


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