If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
  • Car Loan BYTES FROM OUR KITCHEN

    Upcoming Petrol Cars in India

    Undoubtedly, petrol and diesel vehicles give more mileage than EVs (electric vehicles) but the toxic gas emission from a petrol/diesel car pollutes the air. That is why, the Indian government has set forth a target to have an all-electric fleet by 2030. Although the Indian automotive industry is transitioning from petrol and diesel vehicles to hybrid and electric vehicles in an effort to protect the environment, it takes significant time and effort for the gas-guzzling cars to be fully phased out. In the meanwhile, some of the top carmakers across the world are launching new petrol cars and facelifts of the existing car models this year.

    Here is a list of the upcoming petrol cars in India in 2018-19:

    1. Jeep Compass

    The Compass is available in 3 variants—the Longitude, Sport, and Limited. Some of the features of the Compass include 16-inch alloy rims and reverse parking camera. The Compass comes in a 2.0-litre diesel variant as well.

    Jeep Compass Technical Specifications
    Estimated Price (Ex-showroom) Rs.15.35 - 21.94lakh
    Expected Launch date July 2018
    Maximum power output 160bhp@3750rpm
    Maximum torque 250Nm@1750-2500rpm
    Transmission 5-speed automatic transmission;  7-speed DCT
    Engine Type 1.4-litre 160bhp 16V Multiair Petrol Engine
    Mileage 16.3 kmpl

    2. Honda CR-V

    The Honda CR-V is a petrol car that comes in a diesel variant as well. It is expected to be equipped with a 7-inch infotainment system, auto-boot lid, and LED headlamps.

    Honda CR-V Technical Specifications
    Estimated Price (Ex-showroom) Rs.25.0 lakh
    Expected Launch date August 2018
    Maximum power output 100hp
    Maximum torque 350Nm
    Transmission Manual transmission
    Engine Type 1.5-litre turbocharged petrol 

    3. Toyota Camry

    The new Camry comes with LED headlights, a touchscreen infotainment system, and a wide chrome grill. The interiors have a carbon-wood finish, nine airbags, and an electronically controlled brake system.   

    Toyota Camry Technical Specifications
    Estimated Price (Ex-showroom) Rs.29.75 - 37.22 lakh
    Expected Launch date June 2018
    Maximum power output 157.7bhp@5700rpm
    Maximum torque 213Nm@4500rpm
    Transmission Automatic transmission
    Engine Type 2.5-litre 157.7bhp 16V 2AR-FXE Petrol Engine
    Mileage 19.16 kmpl

    4. Nissan Kicks

    The Kicks is an SUV that will have features similar to the Renault-style models. Some other features of the car include a V-motion grill, faux bash plates, boomerang taillights and headlights, and roof rails.

    Nissan Kicks Technical Specifications
    Estimated Price (Ex-showroom) Rs.9 lakh
    Expected Launch date December 2018
    Maximum power output 125 hp
    Maximum torque 115 lb-ft
    Transmission Automatic transmission
    Engine Type 1.5-litre engine in petrol variant

    5. DC TCA

    The TCA in DC’s soon to be launched sports car stands for ‘Titanium, Carbon, Aluminium’. The car is expected to reach a speed of 0-100kmph in 4.5 seconds. The design of the car is inspired by the Pagani Zonda and Laferrari.

    DC TCA Technical Specifications
    Estimated Price (Ex-showroom) Rs.39 lakh
    Expected Launch date October 2018
    Maximum power output 320 hp
    Transmission Automatic transmission
    Engine Type 3.8L V6 petrol engine

    6. Volkswagen Virtus

    The Virtus is a midsize sedan that is set to replace the Polo Vento. The exterior design of the Virtus is similar to the Polo. The top spec models have high-tech dashboards with dual digital screens.  

    Volkswagen Virtus Technical Specifications
    Estimated Price (Ex-showroom) Rs.15.0 lakh
    Expected Launch date March 2019
    Maximum power output 117hp
    Maximum torque 162Nm
    Transmission 6-speed automatic transmission
    Engine Type 1.6-litre, four-cylinder petrol engine

    7. Hyundai Santro

    The new Santro is expected to be a bridge between the Eon and the Grand i10. The compact hatchback will be the first of Hyundai Motor’s AMT models.

    Hyundai Santro Technical Specifications
    Estimated Price (Ex-showroom) Rs.3.5 lakh
    Expected Launch date February 2019
    Maximum power output 70bhp
    Transmission Manual transmission
    Engine Type 1.0-litre, 3-cylinder petrol engine

    Who are Eligible for a Car Loan?

    Salaried and self-employed individuals between 21 and 65 years of age with a good credit score and a steady income can apply for a car loan. Most banks and NBFCs expect minimum 2 years of work experience in the same field and a minimum net annual income of Rs.3-4 lakh. A credit score of 750 or above has higher chances of car loan approval as it represents the creditworthiness of the applicant. Before applying for a car loan, take the time to check your car loan eligibility on the lender’s website in order to avoid a loan rejection. As you know, multiple loan rejections can affect your credit score negatively, which in turn, will have a negative effect on your future loan prospects.

    What is Car Loan EMI?

    A car loan like any other secured loan is repaid through Equated Monthly Installments (EMIs) over a specified period of time called the loan tenure. Applicants can use the car loan EMI calculator that is available for free on the lender’s website in order to find out how much their car loan costs on a monthly basis. The tool is easy to use. Enter your car loan details such as the loan amount, interest rate, processing fee, and loan tenure into the tool. Then, click on the ‘Calculate’ button and you will get instant results in the form of an amortisation table. The table represents your car loan periodic repayment schedule.

    How to Apply for a Car Loan Online?

    Visit the lender’s website to download the car loan application form. Submit the duly-filled and signed application form along with the necessary documents such as identity proof (Aadhaar card, PAN card, Driving License, Voter’s ID card, and passport), age proof (birth certificate and 10th/12th school certificate), address (ration card and utility bills like telephone and electricity bills), and income proof (last 3-6 months’ salary slips and bank statements, Form 16, and IT returns).

    Instant Car Loan Disbursal

    Lenders compete with each other to offer the best services to their customers in the form of instant loan approval and disbursal. The bank will process your car loan application and upon approval, the loan amount will be disbursed to your bank account in just a matter of few hours. Tip: In order to get the best car loan offer, take the time to compare several car loan deals offered by the top lenders in the country and choose one with a low-interest rate, suitable loan tenure, zero processing fee, and flexible repayment options.

    Car Loan Reviews

    • SBI Car Loan
      "Excellent"
      0.5 4.0/5 "Great!"
      I have compared with many others and found SBI is best for car loan. The processing fee and interest rate is very low. I have taken the car loan in State Bank of India in October. The loan process was faster. I did not apply for 100% funding but they have approved the loan whatever I requested. The customer service is good.
      Was this review helpful? 0
      , faridabad
      Reviewed on Feb 21, 2019
    • HDFC Bank Car Loan
      "Very Good bank and very good process"
      0.5 4.0/5 "Great!"
      Its because of the quick documentation process and proper response i have taken the car loan from HDFC. Totally its a hassle free loan services. I bought the car loan of Rs. 5 lakhs. They have provided me a interest rate of 12% and the processing fee was convenient for me. I have already closed the loan 1.5 years ago.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 21, 2019
    • HDFC Bank Car Loan
      "High Pre closure charge should be avoided"
      0.5 1.0/5 "Really Bad"
      I applied for the Car loan in HDFC , they didn't inform me about the pre closure charges . ROI is very high for the Pre closure charge . Executives made the wrong committement . I requesting for the pre closure charge should be waived off . Preclosure should not applicable for the Car loan .
      Was this review helpful? 0
      , chennai
      Reviewed on Feb 20, 2019
    • IndusInd Bank Car Loan
      "Looking for less interest rate"
      0.5 4.0/5 "Great!"
      My car loan experience was good with Indusind bank and it was closed few days back. The loan amount was sufficient and the rate of interest was little high when compared to others. I preclosed this loan after 1 year and there were no preclosure charges.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2019
    • HDFC Bank Car Loan
      "Process is good"
      0.5 5.0/5 "Blown Away!"
      I have purchased a Honda Accent, for which I have a car loan with HDFC Bank. The process was quick and I had no hassles to get the loan. The rate of interest and charges is nominal. They have process 80 to 90% of loan. It was a good experience to get the loan.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 20, 2019
    • Axis Bank Car Loan
      "Good car loan experience"
      0.5 5.0/5 "Blown Away!"
      When i try to purchase a car, The axis bank guy approached me and i have accepted the loan from them. The showroom has a tie up with this guy and he came up and processed all the procedure to get the loan. I have received the loan in 4 days. I don't remember about the interest rate right now. Through ECS, i used to make the EMI.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 20, 2019
    • SBI Car Loan
      "Satisfactory"
      0.5 4.0/5 "Great!"
      Recently I bought Maruthi car, on road price was Rs. 9.20 lakhs, Then I took the loan amount of Rs. 7.30 lakhs for the tenure of five years. On time my loan got approved there is some issue regarding my old emi of Rs.1500 for 8 months tenure , I took for the purpose of buying refrigerator. I submitted the cheque but before salary it got bounced four times. Finally it was cleared and I got the loan amount.
      Was this review helpful? 0
      , noida
      Reviewed on Feb 19, 2019
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I had been holding my car loan with HDFC bank ,they have given me sufficient loan , i got loan processed soon that time, and the rate of interest they charged in this loan was nominal and there service was good.now i have closed this loan successfully.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 19, 2019
    • SBI Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      It as an average experience with SBI for car loan, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was not up to the mark with this bank and the tenure period for this loan is for 7 years.
      Was this review helpful? 1
      , ahmednagar
      Reviewed on Feb 19, 2019
    • Axis Bank Car Loan
      "Its Excellent"
      0.5 5.0/5 "Blown Away!"
      I bought Dustar car for the cost of Rs. 14 lakhs, however I approached the loan amount of Rs. 7 lakhs for the tenure period of three years. I took the standard interest its good. The customer care is good they helped on the car loan queries. Finally the loan got closed I got the NOC.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 18, 2019
    • IndusInd Bank Car Loan
      "Good Experience"
      0.5 5.0/5 "Blown Away!"
      I closed my Indusind bank car loan, I took this to purchase the ALTO car, the loan interest was okay at the time. I submitted my papers and taken loan through showroom, the bank customer care is good and coordinated well with me on my loan process.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Feb 18, 2019
    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with HDFC bank twice. The loan amount which they have given me was sufficient and the rate of interest they have charged me was nominal, they have charged me up to 9.25%which is nominal for me, and they have charged me less processing fee compare to other bank . It is around 1500-2000, but other bank charging 4000 as fee. Still this loan is on.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 18, 2019
    • HDFC Bank Car Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      It was a very good experience i had in getting this loan from them and the loan amount which they had provided has been good. The interest rate with them has been nominal when compared with the market rate and they had not made any sort of hidden charges. Their customer support has been responsive and was helpful at times.
      Was this review helpful? 1
      , new delhi
      Reviewed on Feb 18, 2019
    • ICICI Bank Car Loan
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have been holding car loan with ICICI bank.The loan amount which they have given me was more than sufficient, and the rate of interest they have charged me was less compare to other bank, and they have charged me processing fee or not i have no idea, i have been long time,i have took this loan.still this loan is running.
      Was this review helpful? 1
      , mumbai
      Reviewed on Feb 18, 2019
    • SBI Car Loan
      "Average service"
      0.5 3.5/5 "Pretty good"
      I am holding my car loan with State bank of India from past 5 years, the rate of interest they have charged me was up to 11.9% it was nominal for me, and even Emi they are taking in month nominal only and they have not charged any processing fee and loan amount was sufficient, overall service was good.Still this loan is running.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Feb 18, 2019
    • Canara Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I took a car loan with Canara bank few years back and it was a good experience, the loan amount was sufficient and the rate of interest was nominal when compared to others. Customer service was good and they responded on time. Tenure period for this loan is for 3 years.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 18, 2019
    • HDFC Bank Car Loan
      "They need to reduce the rate of intrest "
      0.5 2.0/5 "Expected more"
      My car loan was taken with HDFC BANK , they charge very high interest rate compare to other in the market it is 13% . The processing fee is nominal and whatever loan amount i expected i got . The tenure period is 4 year and i completed 1 year . So far it is good service .
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 17, 2019
    • HDFC Bank Car Loan
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      I have applied for Car Loan and not yet faced any difficulties till now ,the agent clearly explained about the products and the rate of interest was good and while submitting documents not yet faced any difficulties .The Loan amount got sanctioned on time and the Overall Service was good.
      Was this review helpful? 0
      , noida
      Reviewed on Feb 17, 2019
    • SBI Car Loan
      "Good service"
      0.5 4.0/5 "Great!"
      I have been holding my car loan with State bank of India from past 2 years. The loan amount which they have given me was sufficient ,based on my requirement i got loan amount, they have given me up to 6,00,000, and the rate of interest that time they have charged me low, and i took loan for 5 years tenure period,but their customer service is not good, they have not response well.
      Was this review helpful? 0
      , new delhi
      Reviewed on Feb 17, 2019
    • HDFC Bank Car Loan
      "Looking for less interest rate"
      0.5 4.0/5 "Great!"
      My car loan experience was good with HDFC bank, the loan amount was sufficient and the rayte of interest was high when compared to others. There was no proper info provided at the time of taking the loan. Tenure period for this loan was for 5 years and customer service was good.
      Was this review helpful? 0
      , bangalore
      Reviewed on Feb 16, 2019
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