If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Car Loan BYTES FROM OUR KITCHEN

    Best 8-Seater Cars in India 2018

    Consumers in India prefer an 8-seater car for big families that travel together or taxi operators who have to carry more passengers/transport goods. With an 8-seater car, you can transport your extended family, pets, and excess luggage comfortably.

    Here is a list of the best 8-seater cars available in the Indian car market:

    1. Toyota Innova Crysta

    The Innova Crysta is an upgrade of the classic Innova. The MPV comes in diesel and petrol variants and has around 18 versions of between them. Additionally, the Innova Crysta has a diesel Touring Sport model as well.

    Toyota Innova Crysta Specifications
    Estimated Price (Ex-showroom) Petrol: Rs.14.34 lakh Diesel: Rs.15.51 lakh
    Maximum power output 163.7bhp@5200rpm 147.8bhp@3400rpm
    Maximum torque 245Nm@4000rpm 343Nm@1400-2800rpm
    Transmission 5-speed manual transmission
    Engine Type 2.7-litre 163.7bhp 16V 2-TR-FE Dual VVT-i Engine 2.4-litre 147bhp 16V GD Engine
    Mileage 11.25kmpl 13.68kmpl

    2. Mahindra Xylo

    The Xylo is perhaps one of Mahindra’s most efficient models. It meets all the certified emission standards and comes with two types of diesel engines. It is one of the high-end diesel MUVs available in the market at the moment.

    Mahindra Xylo Specifications
    Estimated Price (Ex-showroom) Rs. 9.17 - 12.0 lakh
    Maximum power output 93.7bhp@3600rpm
    Maximum torque 218Nm@1400-2600rpm
    Transmission 5-speed manual transmission
    Engine Type 2.5-litre 93.7bhp 8V mDI CRDe Diesel Engine
    Mileage 14.95 kmpl
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    3. Honda BR-V

    The BR-V comes in 4 petrol and 4 diesel variants. The petrol variant comes with a CVT option as well. Some other features of the BR-V include automatic climate control, steer-mounted audio controls, dual front seat airbags rear parking sensor equipped with a camera and engine immobilizer.

    Honda BR-V Specifications
    Estimated Price (Ex-showroom) Petrol: Rs.11.4 lakh Diesel: Rs.11.49 lakh
    Maximum power output 117.3bhp@6600rpm 98.6bhp@3600rpm
    Maximum torque 145Nm@4600rpm 200Nm@1750rpm
    Transmission 6-speed manual transmission
    Engine Type 1.5-litre 117.3bhp 16V i-VTEC Petrol Engine 1.5-litre 98.6bhp 16V i DTEC Diesel Engine
    Mileage 15.4kmpl 21.9kmpl

    4. Renault Lodgy

    The Lodgy comes in 10 diesel variants and the more powerful engines come with a 6-speed automatic transmission. Some other features of the Lodgy include a 7-inch touchscreen infotainment system, roof-mounted AC vents, rear parking sensors with camera, and dual airbags.

    Renault Lodgy Specifications
    Estimated Price (Ex-showroom) Rs.8.33 - 11.82 lakh
    Maximum power output 83.8bhp@3750rpm
    Maximum torque 200Nm@1900rpm
    Transmission 5-speed manual transmission
    Engine Type 1.5-litre 83.8bhp 16V dCI Engine
    Mileage 21.04 kmpl

    5. Mahindra Bolero

    The Bolero is perhaps one of the most affordable models in this category. In 2016, newer versions of the Bolero were launched and have several upgrades in appearance when compared to the previous model. The new Bolero has a more sporty in appearance but retains the sturdiness for which it has always been known.

    Mahindra Bolero Specifications
    Estimated Price (Ex-showroom) Rs. 6.86 - 8.98 lakh
    Maximum power output 70bhp@3600rpm
    Maximum torque 195Nm@1400-2200rpm
    Transmission 5-speed manual transmission
    Engine Type 1.5-litre 70bhp 16V mHAWK D70 Diesel Engine
    Mileage 16.5 kmpl

    Car loan for 8-seater cars in India

    Banks, NBFCs and other lending institutions offer new and used car loans to individuals with a good credit score and a steady income. First, pick out a car of your choice, then compare various car loan offers online through a reliable third-party comparison portal. Choose a car loan with the lowest interest rate and flexible repayment options. Before applying for a car loan, check your car loan eligibility criteria. Applicants must be 21 to 65 years of age and meet the minimum income requirements set by the bank.

    How to obtain a Car Loan?

    You can apply for a car loan online through the bank website, just download the application form, fill it up, and submit it along with the necessary documents such as identity proof, age proof, income proof, and address proof. The bank will verify the documents and process the application. Upon approval, the car loan amount will be disbursed to your bank account instantly. You can use the free online car loan EMI calculator to find out how much your car loan will cost you monthly. Depending on the results, you can choose a loan tenure that is suitable to you. Just ensure that your debt-to-income ratio is low so as to avoid defaulting on your car loan. Your car loan EMI payments should not exceed more than 50% of your salary.

    Processing Fee Vs Prepayment Fee

    Banks will charge a processing fee at the time of loan disbursal. This is a small percentage of the principal loan amount that will be deducted from your car loan. Some banks may waive off the processing fee for special occasions or existing customers. Banks also charge a penalty fee for prepayment or preclosure of your car loan. This again is a percentage of your loan amount. After about 12 EMI payments, banks will allow you to prepay a part or whole of the loan amount before reaching the end of the tenure.

    What is Car Loan Foreclosure?

    You can make a high down payment to reduce the cost of your car loan. Until the car loan is paid fully, the car is mortgaged in favour of the financier. Banks will repossess the car if you skip or miss out on making EMI payments. The repossessed car will be put up for auction to compensate for the outstanding dues. This process is called car loan foreclosure. The bank will advertise the auction details and if you have the funds to bid for your car, you can do so.

    Car Loan Reviews

    • SBI Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It has been quite a good experience i had with this car loan and the loan amount which they had provided has been sufficient as well. The interest rate with them was around 9.25% which was nominal when compared with the market rate. The charges which they had made has been nominal as well, and even their customer support has been responsive as well.
      Was this review helpful? 0
      , bhubaneshwar
      Reviewed on Jan 17, 2019
    • SBI Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been taken my car loan with State bank of India, they have given me sufficient loan amount, and i am satisfied with the loan amount , and the rate of interest they have charged me up to 9.45% which is bit high compare to other bank,i have asked for 9 % but its okay, and the processing fee they have charged me was nominal,overall service is good.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jan 17, 2019
    • Kotak Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been taken my car loan with Kotak mahindra bank recently ,like 2 months before i took this loan, and i am happy with the loan amount they have given me ,it was sufficient for me, and the rate of interest they have charged me up to 9.3% which was nominal for me and the processing fee they have charged me was nominal, the loan amount process went smoothly. the overall service rendered by them was really good.
      Was this review helpful? 0
      , chennai
      Reviewed on Jan 17, 2019
    • Central Bank of India Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience i had with this loan and the loan amount which they had provided has been sufficient. The interest rate with them is quite nominal when compared with the market rate. There has not been any sort of additional charges which they had made so far.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 13, 2019
    • SBI Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I took my car loan in State Bank of India by last year. The charges are normal. I have spend down payment nearly 1L out of 7L. The branch is near to my residence so will never contact the customer service. The process was immediate and it was completed within 2 days.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Jan 12, 2019
    • HDFC Bank Car Loan
      "Its Excellent"
      0.5 4.5/5 "Excellent!"
      HDFC gave me the door step service for the car loan. I took the loan before three years. It was the fantastic experience for me because I got the better interest, I took the loan for 5 years but I done the foreclose in three years , there was no charges for it.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Jan 11, 2019
    • Capital First Car Loan
      "Good service"
      0.5 3.0/5 "Satisfactory"
      The process in getting my Car loan from them has been quite good and the process went smooth. The loan amount was sufficient but the interest rate with them has been quite high when compared with the market rate. Their customer support and their response has been good and has been helpful as well.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jan 10, 2019
    • HDFC Bank Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      My car loan experience with HDFC has been good and the loan amount which they had provided has been sufficient. The interest rate with them has been nominal and there has been some charges like processing fee. Overall their has been a help from their customer support as well.
      Was this review helpful? 1
      , pune
      Reviewed on Jan 09, 2019
    • HDFC Bank Car Loan
      "Average Loan Service"
      0.5 3.0/5 "Satisfactory"
      I have approached the bank directly for my car loan. Since I'm existing customer of HDFC for 13 years, i have chosen them. I purchased the loan amount of Rs. 2 lakhs. They have offered me a interest rate of 16% In October 2018, i have closed this loan. Total tenure period of the loan was 3 years. Car Dealer has recommended me about this loan.
      Was this review helpful? 4
      , srikakulam
      Reviewed on Jan 09, 2019
    • Magma Car Loan
      "Average service"
      0.5 1.5/5 "Bad"
      I have been using my car loan with Magma Fincorp previously, they have given me sufficient loan amount ,the rate of interest they have charged me was high,and the processing fee they have charged me was high , i was not happy with there service.
      Was this review helpful? 3
      , ghaziabad
      Reviewed on Jan 08, 2019
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been using my car loan with HDFC bank, there service is too good, the loan amount they have given me was sufficient,the rate of interest they have given me up to 9% which is nominal for me,and the processing fee they have charged me was nominal only they have charged me up to 1% only,and still my loan is running ,there was no hidden charges they have charged apart from that,overall service is good.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Jan 08, 2019
    • HDFC Bank Car Loan
      "Nice offer and nice loan"
      0.5 4.0/5 "Great!"
      I had a car loan with HDFC 1 year back. They have given me a nice offer hence i opted the loan with HDFC. I'm not sure about the partial payment and pre-closure facility. They have given me a nice interest rate according to what i want. I was taken a loan amount of Rs. 3 lakhs.
      Was this review helpful? 0
      , new delhi
      Reviewed on Jan 08, 2019
    • review Car Loan
      "Need to reduce the charges"
      0.5 3.5/5 "Pretty good"
      I have taken a car loan in Nissan Institution, it was good. I bought the car from same showroom and they have provided me a facility. The rate of interest was high. The documentation procedure was simple. I have taken the loan almost 2 years back and its still running. The loan tenure is 5 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jan 08, 2019
    • HDFC Bank Car Loan
      "Looking for less interest rate"
      0.5 4.0/5 "Great!"
      My car loan experience was good with HDFC bank, loan amount was sufficient and the rate of interest was high when compared to other banks. Customer service was good and they responded on time. The tenure period for this car loan is for 5 years.
      Was this review helpful? 1
      , new delhi
      Reviewed on Jan 08, 2019
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my car loan with ICICI bank, the rate of interest they have charged me was nominal and they have charged me processing fee they have charged me which was nominal, the loan amount they have given me was sufficient according to the car price i got my loan, still this loan is running,overall service is good.
      Was this review helpful? 3
      , new delhi
      Reviewed on Jan 08, 2019
    • IOB Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have been holding my car loan with Indian overseas bank, the loan amount they have given me was sufficient, they have charged nominal rate of interest they have charged me up to 9 % which was nominal and there is zero processing fee , so far there service is have experience was good, they have not taken any hidden charges ,there overall service is good.
      Was this review helpful? 1
      , mumbai
      Reviewed on Jan 08, 2019
    • HDFC Bank Car Loan
      "Good loan experience with HDFC"
      0.5 4.0/5 "Great!"
      My car loan running with HDFC bank, the customer service is super and the fast approval on the disbursement. They taken 15 days to deliver the car. The principal amount is Rs. 4 lakhs for the tenure of 5 years, the car model is baleno which is latest.
      Was this review helpful? 1
      , aligarh
      Reviewed on Jan 07, 2019
    • ICICI Bank Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      The process in getting this loan was quite good and there hasn't been any hassle faced. The loan amount which they had provided has been sufficient and the interest rate with them has been nominal as well. There has not been any sort of additional charges which was made by them.
      Was this review helpful? 0
      , pune
      Reviewed on Jan 07, 2019
    • Axis Bank Car Loan
      "Good Car Loan"
      0.5 4.0/5 "Great!"
      Purchased my car loan 4 years back. I have chosen the Axis bank because the rate of interest was less when i compared with others. I have taken a loan amount of Rs. 3.50 lakhs and the tenure period for the loan is 5 years. I have been paying the EMI of Rs. 8000. I have got the loan as per they have promised time.
      Was this review helpful? 2
      , bangalore
      Reviewed on Jan 07, 2019
    • Bank of Baroda Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It has been a good experience i had with this loan. The loan amount which they had provided has been sufficient and the interest rate with them has also been nominal, there has not been any sort of additional charges which they had made for this loan.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jan 07, 2019
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