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  • Mahindra Finance Car Loan

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  • Mahindra Finance offers car loans at attractive interest rates with a repayment tenure of up to 60 months. Up to 100% of the ex-showroom price of the car may be provided as a car loan by Mahindra Finance. Very few documents need to be submitted to avail the loan and the approval process is quick as well.
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    Mahindra Finance - Overview

    Customers who wish to buy a new or a pre-owned car from Mahindra can make use of their car loan scheme that offers up to 100% of the ex-showroom price of the car at attractive interest rates.

    Eligibility Criteria for Mahindra Finance Car Loan

    Listed below are the eligibility criteria to avail a car loan from Mahindra Finance:

    • Should be a salaried or a self-employed individual.
    • Farmers or traders can also apply for a car loan.

    Individuals should meet the age criteria as well as the annual income criteria to avail a car loan from Mahindra Finance.

    Documents Required to Apply for Mahindra Finance Car Loan

    Listed in the table below are the documents that individuals applying for a Mahindra Finance Car Loan need to submit:

    Age proof Aadhaar card, Passport, Driving License, etc.
    ID proof PAN Card, Voter ID, Driving License, Passport, etc.
    Address proof Voter ID card, Aadhaar card, Passport, etc.
    Income proof Salary slip, Income Tax Return Certificate, Bank Statements, or Form 16.

    Quantum of Finance

    Listed below are the minimum and maximum car loan amounts that can be availed from Mahindra Finance to purchase a new or pre-owned car:

    Minimum finance amount As per the terms and conditions set by Mahindra Finance
    Maximum finance amount Up to 100% of the ex-showroom price of the new Mahindra car or pre-owned Mahindra car.

    Repayment Details for Ford Car Loan

    Listed below is the repayment schedule set by Mahindra Finance for their car loans:

    Repayment schedule The EMIs to repay the Mahindra Finance car loan consist of the principal car loan amount as well as the interest added by Mahindra Finance.
    Minimum loan term As per the terms and conditions as set by Mahindra Finance
    Maximum loan term 60 months

    Perfect Car Loan Deals for you

    FAQs

    1. Can you tell me what are the key features and benefits of availing a car loan from Mahindra Finance?

    Some of the key features and benefits of availing a car loan from Mahindra Finance are listed below:

    • The process to apply for a car loan from Mahindra Finance is hassle-free. Customers can choose to apply for a Mahindra Finance car loan online on the website of Mahindra Finance or offline at any of the branches of Mahindra Finance.
    • Minimum documentation required for verification prior to car loan approval.
    • Quick car loan approval and disbursal of the loan amount.
    • Competitive interest rates depending on the car loan amount availed by the customer and the choice of the repayment tenure.
    • Car loan disbursal up to 100% of the ex-showroom price of the car.
    • On the website of Mahindra Finance, customers can calculate their EMI to repay the car loan.
    • A variety of car loan schemes depending on the financial status of the applicant.
    • Choice of repayment as per the financial ability of the individual.
    1. How long does Mahindra Finance take to approve a car loan application?
    2. Mahindra Finance usually takes 1 working day to verify the documents and approve the car loan application. This is provided that the applicant submits all the required documents.

    3. What is the best way of paying my Mahindra Finance car loan EMIs?
    4. The simplest way of paying your Mahindra Finance car loan EMIs is online on the website of Mahindra Finance. The customer has to log in to his/her account on the website of Mahindra Finance and make the payment via ECS (Electronic Clearing Service). The customer can also choose to pay the EMI at any branch of Mahindra Finance.

    5. What happens once my repayment of the Mahindra Finance car loan is complete?
    6. As soon as the last EMI is paid and any other dues are cleared, Mahindra Finance will post the termination papers of the car loan, the No-Objection certificate addressed to the RTO (Regional Transport Papers), and the insurance endorsement cancellation letter to your home address.

    7. What is the interest rate of the car loan offered by Mahindra Finance?

    The interest rate will depend on the loan amount availed and the repayment tenure chosen by the applicant. It will also depend on the terms and conditions as set by Mahindra Finance.

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