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  • Sundaram Car Finance

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  • Sundaram Car Finance Features

    Some of the main features of the car loan offered by Sundaram Finance are mentioned below:

    • The turnaround time is fast.
    • Attractive interest rates
    • Up to 100% of the ex-showroom price of the car can be financed.
    • The documentation is simple.
    • Maximum funding is provided for used cars.
    • Finance is provided for all car brands.
    • End-to-end service is provided.
    • Flexible Monthly Instalments (FMIs) and Equated Monthly Instalments (EMIs) are provided.
    • Hassle-free process.
    • End-to-end support from RTO procedures to transfer of ownership is provided.
    • In the case of used cars, funding is provided for a car that is up to 7 years old.
    • Finance is given for pre-owned/second hand/used cars.
    • In the case of used cars, 85% of the value of the car may be provided as a loan.
    • The repayment tenure for used cars is 48 months.
    • The rate of interest for used car loans start from 12.5%.

    How to Calculate EMI on Sundaram Finance Car Loan

    Many factors are considered when calculating the Equated Monthly Instalments (EMIs) of a car loan. Some of the main factors that are considered are mentioned below:

    • Rate of interest
    • Loan amount
    • Loan tenure

    The car loan calculator provided by BankBazaar can be used to calculate the EMI. The process to use the calculator is very simple. You will have to enter basic details such as processing fee, rate of interest, tenure, and loan amount to get the EMI.

    Eligibility Criteria

    The eligibility criteria that must be met in order to avail a car loan from Sundaram Finance are mentioned below:

    • Salaried employees and self-employed individuals can avail the loan.
    • Partnership firms, private companies, and public companies can opt for the car loan.
    • Salaried employees must be between the ages of 21 years and 55 years when they apply for the loan.
    • Self-employed individuals must be between the ages of 21 years and 65 years when they apply for the loan.
    • Salaried employees must have at least 3 years of work experience.
    • In the case of used cars, the car cannot be more than 7 years old.

    Documents for Sundaram Car Finance

    The documents that must be submitted by salaried employees and self-employed individuals will be different. Additional documents will need to be submitted in case you wish to avail a used car loan. The list of documents that must be submitted by salaried employees and self-employed individuals are mentioned below:

    Salaried employees

    • Passport-size photo
    • Know Your Customer (KYC) documents
    • Bank Statement: Last 6 months
    • Income Proof: Form 16 or last 3 months' salary slip
    • Repayment Mode: Full PDCs, Direct Debit, or NACH
    • Proof of Asset: Either Housing Co-op Society bill, sale deed copy, Patta copy, or house tax challan can be submitted as asset proof.

    Used Car Loan

    The below-mentioned documents must be submitted by salaried employees in case they wish to avail a used car loan:

    • Valuation report
    • Copy of insurance
    • Copy of Registration Certificate

    Self-employed individuals

    • Passport-size photo
    • Know Your Customer (KYC) documents
    • Bank Statement: Last 6 months
    • Income Proof: Income Tax Returns for the last two years. An audit report must also be submitted.
    • Repayment Mode: Full PDCs, Direct Debit, or NACH
    • Proof of Asset: Either Housing Co-op Society bill, sale deed copy, Patta copy, or house tax challan can be submitted as asset proof.

    Used Car Loan

    The below-mentioned documents must be submitted by self-employed individuals in case they wish to avail a used car loan:

    • Valuation report
    • Copy of insurance
    • Copy of Registration Certificate

    Perfect Car Loan Deals for you

    FAQs on Sundaram Car Finance

    1. Does Sundaram Finance arrange a test drive?
    2. Yes, Sundaram Finance offers services from test drive to delivery.

    3. Does a guarantor have to be provided?
    4. No, a guarantor need not be provided.

    5. What types of cars are financed?
    6. All Indian and imported cars are financed.

    7. Is finance offered for vehicle insurance?
    8. Yes, Sundaram Finance offers finance for new insurance policies and policies that must be renewed as well.

    9. How long does it take for the loan to be sanctioned?
    10. In case the credit norms are met, loans are approved instantly.

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