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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This German automaker is renowned worldwide for its top notch luxury cars ranging from sedans to SUVs. Founded in 1932 at Chemnitz, Germany, Audi has 11 production units in 9 countries around the globe.
In India, Audi offers a range of cars in categories of Sedan, Coupe, SUV, Cabriolet, Sport and Spyder. The exclusive captive finance arm of Audi in India extends loan options at pleasing terms and rates on the entire range of Audi cars in the country. Financing a car purchase from the stable is now hassle free and comes with a slew of benefits.
Straightforward eligibility criteria is the face of Audi finance for cars in India. A breakup of the conditions has been provided below.
|
Salaried |
Age |
21 years and above |
|
Income |
Min. gross annual income should be Rs.2 lakh |
|
|
Job Stability |
Minimum of 3 years |
|
|
Loan to Value(LTV) |
A max. of 90% of car value |
|
|
Self Employed |
Age |
21 years and above |
|
Income |
Min. gross annual income should be Rs.1 lakh |
|
|
Business Stability |
Minimum of 2 years |
|
|
Loan to Value(LTV) |
A max. of 85% of car value |
|
Salaried |
Age |
21 years and above |
|
Income |
Min. gross annual income should be Rs.5 lakh |
|
|
Job Stability |
Minimum of 3 years |
|
|
Loan to Value(LTV) |
A max. of 90% of car value |
|
|
Self Employed |
Age |
21 years and above |
|
Income |
Min. gross annual income should be Rs.3.5 lakh |
|
|
Business Stability |
Minimum of 5 years |
|
|
Loan to Value(LTV) |
A max. of 85% of car value |
|
Salaried |
Age |
21 years and above |
|
Income |
Min. gross annual income should be Rs.10 lakh |
|
|
Job Stability |
Minimum of 5 years |
|
|
Loan to Value(LTV) |
A max. of 90% of car value |
|
|
Self Employed |
Age |
21 years and above |
|
Income |
Min. gross annual income should be Rs.5 lakh |
|
|
Business Stability |
Minimum of 7 years |
|
|
Loan to Value(LTV) |
A max. of 85% of car value |
Identity Proof
Valid proof of identity issued by government agencies such as Passport, PAN Card, Driving License, Sales Tax Registration certificate and Employee ID issued by Govt. of India are accepted.
Address Proof
Passport, Lease/Rental Agreement, Utility Bills, Bank Statement.
Income Proof
For salaried class, Payslips of last 3 months, Form 16 or IT Returns.
For self employed, ITR for the last two years, Balance Sheet, P&L a/c.
Partnership Firm: The latest Sales Tax Assessment Order, Partnership Deed, identity proof of signing partners, and ST registration Certificate.
Limited Company: ST Registration Certificate, MOA and AOA (Memorandum of Association and Articles of Association), and identity proof of signing directors
The list of documentation above is indicative. During the application process, Audi Finance representatives will advise further on nature of documentation.
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Audi finances the entire fleet of cars at attractive interest rates. The rate of interest is determined at the time of application and a rate card will be made available during your visit. The interest charges depend on many inputs such as eligibility, income, model of the car, prevailing offers, etc.
Do inquire at the nearest showroom for further details on interest rate slabs.
Check Here: Car Loan Interest Rates from various Top Banks
The finance arm of Audi provides up to 90% finance of total cost on Audi cars which implies less burden for you in terms of down payment. With such high quantum of financing, you can own a model of your choice and payback in EMIs.
With a repayment tenure ranging from 12 - 84 months, you get sufficient space in choosing a tenure that suits your monthly budget.
The fervour to own a car is complemented by the quick processing system from Audi finance. The turnaround time is communicated upfront and comes with minimum documentation.
Accessorizing the car is one of the most exciting part of owning one. Cost of accessories and gadgets will be included in the loan amount.
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In order to understand the costs involved in a car loan and its impact on your budgeting, use the Audi Car Loan EMI Calculator to estimate the expenses. This intuitive tool not only provides an elaborate breakup of the EMI amount and details of amortisation, but also presents monetary value of various costs such as processing fee which helps in preparing for the loan.
| Sedan Class | A3, A4, A6, S6, A8L |
| Coupe | RS5, TT, R8 |
| SUV | Q3, Q5, Q7 |
| Cabriolet | A3 |
| Sport | RS7 |
| Spyder | R8 |
Those who dream of purchasing a luxury car from the popular German car brand, Audi, can now get auto financing to drive their dream car home. Audi Finance focuses on providing quick and hassle-free auto financing to its customers in order to take them closer to their automobile dreams. The company believes in its ability to deliver excellent credit access to eligible applicants. Audi Finance has been redefining car finance consistently by offering new schemes to best serve its customers. This lender is a key player in the world of car finance. When a customer chooses to buy an Audi car through Audi Finance, he or she gets to experience customer services from a dedicated team and the same passion for Audi cars as him or her.
What attractive features and benefits does Audi Finance offer its customers?
Here are some attractive features and benefits offered by Audi Finance which makes it one of the most preferred lenders in the country:
Audi Finance Car Loan Application Process
Audi Finance is among one of the most preferred car financing companies in the country because it offers quick, convenient, and flexible car loan application process with minimal documentation. A representative of Audi Finance will meet the potential buyer at the Audi dealership to help with the documentation process and explain the terms. The auto loan will be processed after Audi Finance receives post-sanction documents at the central office. The borrower/customer can pick up the car from the dealership upon loan disbursal made to the dealer. A copy of the vehicle Registration Certificate, invoice, and the motor insurance policy must be submitted to Audi Finance. In case, the borrower wants to cancel the loan application, he or she may do so by informing the Audi Finance representative before loan disbursal. Loan cancellation charges are applicable.
Audi Finance Repayment Options
Keeping the customers’ best interests in mind, Audi Finance offers flexible loan repayment options:
Audi Drive Assure Insurance Plan
Audi Finance also offers a motor insurance policy to cover any damages caused to the vehicle, the owner, and third parties. Customers can choose between Audi Drive Assure Elite Plus and Silver Plus. With these 2 motor insurance plans, you can get depreciation cover, engine protect cover, vehicle replacement cover, and tyre and rim coverage.
Fees and charges of Audi Finance Car Loan
| Types | Charges |
| Loan Processing Fees | For loan amount below Rs.5 lakh - Rs.3,379 For loan amount above Rs.5 lakh and below Rs.10 lakh - Rs.3,887 For loan amount above Rs.10 lakh - Rs.4,565 Goods & Service Tax |
| Part Payment Charges | Part payment is allowed only 2 times during the loan tenure, provided the prepayment amount should not be less than the amount equivalent to 3 EMIs. Part prepayment fee is 2% on the part payment amount. |
| Full prepayment charges | For payment within 24 months - 3% on the outstanding principal amount. For payment after 24 months - 1.5% on the outstanding principal amount. |
| Documentation Charges | Rs.350 |
| Change in Agreement | Rs.2,500 |
| Loan cancellation charges | Rs.5,000 |
| Loan account statement | Rs.250 |
| Change or addition of guarantor | Rs.5,000 |
| NOC for commercial to personal usage | Rs.2,000 |
| Interest on default payments | 0.1% per day plus applicable GST |
| Charges per cheque/ECS bounce | Rs.500 per instance |
| Cheque/repayment mode swap charge | Rs.500 |
| Legal, repossession and incidental charges / Stamp duty charges | At actual |
Note: All fees and charges are subject to the Goods & Service Tax as applicable.
1) Can I purchase other brand cars with Audi Finance?
No. You are only procure cars manufactured by Audi under this scheme.
2) Is there a penalty levied if I decide to pre close my existing car loan?
A penalty at the rate of 3% of the outstanding loan amount along with applicable service charges is payable for all foreclosures within the first 24 months of the loan date.
3) Do I need to provide a security to avail a loan from Audi Finance?
There is no requirement for additional security. The car purchased under the scheme will be hypothecated until closure of the loan account.
4) Where can I apply for a car loan from Audi?
Representatives from the finance wing are available at all showrooms of Audi across India.
GST of 18% is applicable on all banking products and services from the 1st of July, 2017.
The Audi R8 Coupe had recently received the illustrious “2016 World Performance Car” Award at the World Car Awards. This award program was held during the New York Auto Show. This luxury sports car has won a total of 4 awards this year. The vote was made by 73 well-recognized automotive journalists. The car has already been launched in India with a modified 5.2-litre V10 engine. It produces a maximum power of 618PS and a maximum torque of 560Nm. The predecessor of this model had also received two awards previously - the World Car Design of the Year award and the World Performance Car award.
6 April 2016
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