If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Loading your search...
    Close

    Compare Car Loan Offers from Top Banks. Apply Online and Get e-Approved Instantly.

  • Student Car Loan is Rated as "Great!" by 34695 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Car Loan BYTES FROM OUR KITCHEN
    rated 4.0/5.0 by 34695 users

    Student Car Loan

    What is the best time to bring your Student Car Loan to a close?

    Manish is an MBA student specializing in Human Resources & Industrial Psychology. Transport has become a huge issue for him as this course requires him to commute to various companies as part of his field work and other projects. Many advised him to get a car, which is exactly what he has done. But he is constantly worried about this loan as he had already taken an education loan.


    How legitimate is this concern?

    Many like Manish find student car loan settlement a longstanding struggle. Understanding the favorable times to modify your repayment plan can save you time and money. There are several monetary events that can get an evaluation of how you are handling your auto loan repayment. Let us take a look at the most suitable time to save on a student car loan interest rate.

    1. At the end of your grace period:

      After the completion of course, many student loan debtors are given a grace period where prompt reimbursement is not mandatory. Banks offer you 6 to 12 months to find a job. But having a good idea of your outstanding payable amount and current interest rates during the grace period certainly gives you an edge to figure out suitable repayment strategies. This is also an ideal time to look up refinancing options and see if EMIs can be reduced.

    2. When promotion knocks on your door:

      Getting a well-earned salary hike (with or without promotion) is of course, a moment to savor. But it is also an opportunity to clear your loans sooner than you anticipated and take a huge leap from your standard repayment schedule. Now, if you want to stick to a pre-planned schedule, your added income makes you eligible for lucrative options like car loan refinancing if the interest rates have fallen.

    3. When rates have dipped:

      Even though most student car loans come with a steady interest rate throughout the loan tenure, many private financiers can offer good deals based on the existing market rates. This, as mentioned, is the perfect time to refinance and the resultant reduction in the EMI is quite welcome. If you are not sure what rates are available presently, talk to your financier regarding this.

    4. When a new bank, financier or product hit the playground:

      If you have thought of combining or refinancing all your student loans, remember that there are new competitors in the market. The arrival of new players in the student loan arena offers more scope to save. This proves that sensible management of student loans is becoming a vibrant process and by being up-to-date of the choices, can help you save more. Also, you can refinance your loan as many times as you want.

    5. When your credit score progresses:

      Whether you have been meticulous in enhancing your credit or it has merely occurred with time, a conspicuous (positive) change can get you a fresh review of loan payment. With better credit score and a reputation of punctual repayments, you become a less risky borrower to loan providers. If you fall into this class, lenders will be keen to offer an agreeable rate and settlement terms for your student car loan.

    6. When you coax a strong co-signer:

      Student car loan eligibility evidently depends on your credit history and those who fall under this category can get the help of a willing co-signer, who is more than eligible to sign on your refinancing application. The benefits of reducing your interest rate and changing your repayment terms can save you thousands over the lifetime of your student loans. You must ensure that your co-signer has a complete understanding of your remaining debt and the accountabilities of the loan agreement he/ she is signing.

    Apply for Car Loan Online

    Conclusion:

    Ultimately, the relaxation in student loans by our government is a welcome move. The sense of inescapable student loan liabilities that exemplifies much of the present day higher education discussion is probably on the way to becoming a thing of the past.

    Student Car Loan Reviews

    • HDFC Bank Car Loan
      "Good Service"
      0.5 4.0/5 "Great!"
      I've taken a car loan from the HDFC bank. The loan amount was 217000 and the interest rate was high. I applied for the loan at the showroom. They processed the loan with in 3 days and it was a fast and hassle free process.
      Was this review helpful? 6
      , faridabad
      Reviewed on Sep 19, 2018
    • Kotak Car Loan
      "Satisfactory"
      0.5 5.0/5 "Blown Away!"
      Kotak Mahindra bank has offered me a car loan as well. I got the loan is 48 hours. It was a pre approved loan. I have purchased a Audi car. The interest rate and processing charges were nominal too. It was a excellent experience and the process was smooth.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 19, 2018
    • Sundaram Finance Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My experience with Sundaram Finance for car loan was very good, the process was smooth and i received my loan amount on time. Customer service was good and they responded on time. The tenure period for this loan is 4 years but i preclosed the loan in 1.5 years. I have to pay interest for 4 years as preclosure charges.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 19, 2018
    • Axis Bank Car Loan
      "Process is nice"
      0.5 4.5/5 "Excellent!"
      Axis Bank has also given me the benefit of a car loan. The rate of interest is around 8% and the process to get the loan was easy. I had no difficulty in document submission. The customer services and response is good and they communicated to me on time.
      Was this review helpful? 2
      , vadodara
      Reviewed on Sep 18, 2018
    • Tata Finance Car Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      My car loan was taken with TATA FINANCE, the process of getting loan was too fast i just got my loan in 15days and i dont have to submit document . The tenure period is 4yera and they charge high rate of interest it is 14% including insurance . They gave option of foreclose too .
      Was this review helpful? 0
      , mumbai
      Reviewed on Sep 18, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 4.5/5 "Excellent!"
      The experience at Bank bazaar is good. The customer services and response is good and there are no issues to get the details for the car loan. The website is good and it is very easy to understand and informative. Thanks for the first response.
      Was this review helpful? 7
      , mumbai
      Reviewed on Sep 17, 2018
    • HDFC Bank Car Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      My car loan was taken with HDFC bank 1 year back.The loan amount was 7 lakhs and rate of interest was satisfactory .The tenure period was 3 years . There is no processing fee and the loan was good.. There is no issues faced and the whole process was smooth.
      Was this review helpful? 4
      , new delhi
      Reviewed on Sep 15, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.5/5 "Excellent!"
      The experience with this Car Loan had been very good and the loan amount which they had provided also had been good as well. The interest rate with them has been good as well and when compared with the market rate. The customer support of them also had been responsive and there has not been any sort of hassles faced with their services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 4.5/5 "Excellent!"
      It was a good experience with bankbazaar so far, they provide good services on financial products when compared to others. Customer service was good with bankbazaar and they responded on time. Website of bankbazaar is easy to use and is user friendly..
      Was this review helpful? 2
      , gulbarga
      Reviewed on Sep 12, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      It was a fine experience with HDFC bank for car loan, the process was quite long and it took 20 days to receive the loan. The loan amount was for Rs 7.1 lacs with nominal interest rate and the tenure period of 5 years. Customer service was good and they followed up on time.
      Was this review helpful? 1
      , gulbarga
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I know bankbazaar.com from last 1 year, the services provided by bankbazaar is good when compared to others in the market. Customer service was good and they responded on time. Mobile application is easy to access and is user friendly.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 12, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have my car loan application approved with TVS CREDIT and my experience was good, the process was smooth and i received my loan amount on time. The loan amount was for Rs 2.2 lacs with 3 years with nominal interest rate. Customer service was good and they responded on time.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I know bankbazaar.com from last 4 years, my experience was good so far with bankbazaar. Mobile application of bankbazaar is easy to use and is user friendly. Customer service is good with bankbazaar but their response is not up to the mark.
      Was this review helpful? 2
      , bangalore
      Reviewed on Sep 12, 2018
    • TVS Credit Services Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      The process was very slow with car loan application from TVS credit, it took 15 days for the loan amount to receive. The loan amount was for Rs 3.7 lacs with the tenure period of 5 years. Rate of interest was nominal when compared to others. Customer service was good and they responded on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      It was a good experience so far with bankbazaar, i am using the services of bankbazaar from last 2 years and the services provided by bankbazaar is pretty good. Customer service was good and they responded on time. Mobile application of bankbazaar is easy to use.
      Was this review helpful? 1
      , new delhi
      Reviewed on Sep 12, 2018
    • HDFC Bank Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      The application process was smooth, it took 1 week to receive the loan amount, i have taken a car loan with HDFC bank and it was a good experience. The loan amount was for Rs 4 lacs for 5 years with nominal interest rate. Customer service was good and they followed up on time.
      Was this review helpful? 0
      , new delhi
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      My experience was best so far with bankbazaar, they provide good services on financial products when compared to others in the market. Customer service was good and they responded on time. I am using both mobile app and website from 2 years, it is easy to use and is user friendly.
      Was this review helpful? 2
      , jammu
      Reviewed on Sep 12, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 2.0/5 "Expected more"
      It was a good experience with HDFC bank for car loan, the process was smooth and i received my loan within 1 week. The loan amount was for Rs 2.5 lacs for 5 years with nominal interest rate. I did not opt for the insurance but they forced me to take the insurance and i paid Rs 4000 for it.
      Was this review helpful? 0
      , jammu
      Reviewed on Sep 12, 2018
    • Bank Bazaar Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      This was my first time experience with bankbazaar and it was good, i received a call from bankbazaar and they processed the application, the response was very good from bankbazaar and i got the credit card on time. I am happy with the services provided by bankbazaar.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 12, 2018
    • HDFC Bank Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      My car loan application was approved with HDFC bank and it was a good experience, the process was smooth and i received my loan amount on time. Rate of interest was nominal in this bank. Customer service was good and they responded on time. Tenure period for this loan is 5 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 12, 2018
    Common Loader Icon

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

  • reTH65gcmBgCJ7k
    This Page is BLOCKED as it is using Iframes.