Mahindra Finance Car Loan - Affordable Car Financing

1. 100% car financing available
2. Lowest car loan interest rates in market
3. Longest repayment tenure up to 60 months
4. Instant car loan approval process
5. New car loans & used car loans options

Eligibility Criteria for Mahindra Finance Car Loan

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

1. Should be a salaried or a self-employed individual.
2. 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.

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

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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.

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FAQs on Mahindra Finance Car Loan

• What are Mahindra Finance car loan interest rates in 2025?

  Mahindra Finance offers competitive car loan interest rates starting from 8.75% p.a. for borrowers with good CIBIL score. The exact rate depends on your car loan eligibility, loan amount and tenure.

• How to apply for Mahindra Finance car loan online?

  You can apply for car loan through:

  1. Official Mahindra Finance website
  2. BankBazaar portal
  3. Nearest Mahindra Finance.  The car loan application process requires basic KYC and income documents.
• What is the maximum car loan tenure available?

    Mahindra Finance provides flexible car loan tenure options ranging from 12 to 60 months for both new car financing and used car loans.  

• Can I get 100% financing on used cars?

    Yes, Mahindra Finance offers 100% used car loan for certified pre-owned vehicles not older than 5 years, subject to car loan eligibility criteria.  

• How to calculate Mahindra car loan EMI?

  Use the car loan EMI calculator available on Mahindra Finance website by entering:

  1. Desired car loan amount
  2. Applicable interest rate
  3. Preferred repayment tenure
• What documents are needed for car loan approval?

  The car loan documents required include:

  1. KYC documents (PAN, Aadhaar)
  2. Income proof (salary slips/bank statements)
  3. Address proof
  4. Vehicle quotation
• How to check car loan application status?

  Track your car loan status through:

  1. Mahindra Finance customer care
  2. Online portal using application reference number
  3. SMS alerts on registered mobile number
• Are there any prepayment charges?

    Mahindra Finance charges 2-5% prepayment penalty if you foreclose your auto loan before completion of tenure.  

• What is the processing time for car loan approval?

    The car loan processing time is typically 24-48 hours after document submission, making it one of the fastest car loan approval systems.  

• Does Mahindra Finance offer car loan for self-employed?

    Yes, self-employed car loan options are available with slightly different eligibility criteria and documentation requirements.