If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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    We found 8 Used Car Loan - Introduction
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.1% - 15% Floating
    999 + applicable tax
    20K - 10L
    1-5 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12.5% - 14.5% Floating
    2% One time fee
    1.5L - 25L
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free 100% financing on car value
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good To Know
    Eligibility Criteria
    11.50% Floating
    575 One time fee
    1L Min
    1-3 Years
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    11.40% Floating
    0
    35K - 25L
    5 Years
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    16% Floating
    1% One time fee
    50K - 15L
    1-4 Years
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Good to Know
    Eligibility Criteria
    12% - 13% Fixed
    1% One time fee
    50K - 10L
    1-4 Years
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12% - 15.5% Fixed
    Up to ₹5,310 One time fee
    75K Min
    1-7 Years
    Response Time : Within 30 minutes
    Rs.2,500 Amazon voucher free Paperless approval available
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know
    Eligibility Criteria
    12% - 14% Fixed
    2,500 One time fee
    1L Min
    1-3 Years Tenure
    Response Time : Within 30 minutes
    What you'll love
    Documents
    Perks
    Think about
    Fees & Charges
    Good to Know
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    Used Car Loan - Introduction

    The latest avatar of an age old adage is ‘old is sold’, and the rule applies to almost all our material possessions that are deemed aged, redundant and replaceable. A used car loan helps you procure an otherwise costly item that in mint condition would cost you a lot higher than its current ‘pre-owned’ state. Thus, allowing people with lower budgets to elevate themselves to the status of car owners. Aside from being a very comfortable option to purchase a ‘new’ car, a used car loan offers a dimension of simplicity, transparency and hassle free experience that is at par, and at times significantly higher than the corresponding car loan procedure for a new automobile. Want to own a car but are not willing to spend too much into the experience? What you seek is a well-maintained, reliable and springy used car that has aged gracefully, and consequently a second hand car loan to purchase it.

    Used Car Loans - Features and Benefits

      Used car loan
    • Immensely Pocket Friendly- Explained in simple associative terms, a second-hand car will cost less, thus, the pre-owned car loan financing it will also be a lesser number compared to its new-car alternative. Meaning, smaller monthly instalments to contend with.

    • Less Hassle, More Features- While most banks feature used car finance as an important component in their arsenal of products, the demand for it is naturally second to a new car loan. Thus, these products are customized to appear as customer friendly as possible. Meaning, lots of features and rebates at half the usual hassle associated with a new car loan.

    • Used Cars Are a Lot More Fun- When it comes to a pre-owned car, the choice of models isn’t dependent on its current on-road price. What would seem like a hefty investment for a new car of a particular model, seems very reasonable in the case of a second-hand car of the same make. Plus, the prospect of depreciation in pre-owned cars is considerably less when compared to new cars, thus retaining its original value when you intend to resell it at a future date. Importantly, the insurance costs of a pre-owned car is lesser compared to a new car.

    How to Apply for a Used Car Loan on Bankbazaar.com?

    On Bankbazaar.com, get a comprehensive glimpse of the various features, interest rates, eligibility criteria and required documentation for a second hand car loan as offered by an assortment of banks and financial institutions across India. All the information you want, in one complete package.

    • Calculate the applicable EMI and other essential loan details by using a variety of financial tools provided on the website.
    • A comprehensive listing of loaning banks- choose the one that meets your specific expectations.
    • Instant online loan application, followed by immediate approval based on the submitted information.
    • Robust customer support division to help you with concerns and queries.

    Applying for a used car loan on Bankbazaar.com is a simple and intuitive 3-step process:

    Step 1- On Bankbazaar.com’s homepage, access the navigational menu that is located at the top of the page and select the LOANS menu item. Next, select the USED CAR LOAN option off the various loan types listed. The resultant page helps you get an instant quote in terms of a plethora of used car loan options, as offered by various banks. Complete the simple requisite information and click on the ‘Get a Quote’ button. Now, spread before you are the various loan options. It’s time to choose!

    Step 2- You must compare between the various second hand car loan options before you and select the one that most appeals to your requirements and budget.

    Step 3- After the submission of the online application, you will receive an instant e-approval from Bankbazaar.com. This application is next transferred to your chosen bank from wherein a customer support executive will get in touch with you within a short duration of time. Meanwhile, you can track your application through SMS alerts and email.

    How to Calculate Used Car Loan EMI on Bankbazaar.com?

    The friendly financial tools available on our website make the whole EMI calculation process, as applicable to your old car loan, a simple and interactive effort. Essentially, follow these steps-

    1. Access the ‘Used Car Loan EMI Calculator’ tool.
    2. Note the two scales presented before you? One is marked ‘Loan Amount’ and the other, ‘Tenure’.
    3. Select the loan amount and the tenure applicable to you on these scales.
    4. Next, insert the applicable interest rate on your pre-owned car loan in the field marked ‘Interest Rate in %’, similarly insert the applicable processing fee in the field marked ‘Processing Fee (% of loan amount)’. Note that default values are already populated here- change them accordingly.
    5. Click on the ‘Calculate’ button to complete the process.
    6. Displayed before you is the complete breakup of the total interest due, monthly EMI and other relevant details. If you scroll down the page further, you will find a graphical representation titled ‘Your Amortization Details (Yearly/Monthly)’ that details the amortization information pertaining to your second hand car loan.

    Documents Expected When Applying for a Used Car Loan

    Based on individual banks, all or some of these documents will be requested to be produced at the time of the loan application,

    1. Proof of Age, Residence, Identification and Signature (Passport/Voter’s ID/PAN Card).
    2. Proof of Income (Salary slips/Form 16/ITR with income computation).
    3. Copies of the pre-owned car’s RC Book and Insurance records.
    4. Bank statement. Usually statements for the past 6 months will be required.
    5. Passport sized photographs (Minimum 2 nos.)
    6. Documentation or deed that establishes the credentials of a proprietorship or partnership firm.

    Eligibility Criteria for Used Car Loans

    The following list is a generalised view on the commonly expected requirements that form the basic eligibility criteria for second hand car loans. Banks, at their own discretion, may require additional proof and/or documentation to establish your eligibility for the said loan.

    • The applicant must be aged no lesser than 21 years nor be older than 65 years.
    • Must be a salaried individual, self-employed person, a proprietorship or partnership firm, a public sector undertaking, a private company, person currently employed in the agriculture sector or dependent industries.
    • In order to qualify for an old car loan, and if the applicant is a salaried individual, the net annual income of the said applicant and/or co-applicant together should not be lesser than Rs.3,00,000*.
    • If the applicant is a self-employed individual, proprietorship or partnership firm, then the net profit or total taxable income of said applicant and/or co-applicant together should not be lesser than Rs.4,00,000* per annum.
    • If the applicant is an agriculturist, the net annual income of the said applicant and/or co-applicant together should not be lesser than Rs.4,00,000* per annum.

    (* Numbers may vary for different banks)

    Applicable Interest Rates for Used Car Finance

    The situation with used car loan interest rates, as perceived by the loaning banks, can be summed up as ‘great risks, greater rewards’. The banks are funding an old car, thus the funds offered are lesser as compared to a new car loan. Also, most second hand car loans offer the option of pre-payment with a very nominal penalty- a situation that is a likely scenario in cases wherein the old car may suffer a functional meltdown through the tenure period, and the car owner might decide to repay the loan at one go. Thus, understandably, the interest rates on used car loans is greater when compared to new car loans. In terms of the popular reducing balance model, the interest rates offered by some popular Indian banksare as follows.

    Banks

    Interest Rates

    HDFC Bank
    • 15.25% to 17.75% (60 months)
    • 15.25% to 17.75% (48 months)
    • 15.25% to 17.75% (36 months)
    • 15.75% to 18.25% (24 months
    • 15.75% to 18.25% (Upto 12 months)
    • Corporate Rates 13.50% to 14.25%.
    State Bank of India (SBI)
    • 17.25% (Upto 36 Months)
    • 17.50% (Above 36 months).
    ICICI Bank 13.75% to 17%
    Bank of India (BOI) 11.45% (Upto 3yrs)
    Federal Bank 15.45% to 15.95%
    Axis Bank 16.50% to 18%
    Kotak Mahindra Bank 17% to 20%

    Refinance car loans

    Automobile refinancing is done by paying off an existing loan with a new loan. Refinancing a car loan is done for a number of reasons like reducing interest rates, lower the payments that have to be made every month or for other personal reasons. Most of the time people would want to lower the amount that they pay on a monthly basis towards a loan. This is done by either lowering the interest rates, by extending the loan payment period or by doing both.

    Sometimes a car loan borrower will want to add someone or remove their names from the car loan. Refinancing is an easy way to add or remove a cosigner to the loan.

    Top Used Car Loan Providers in India

    HDFC Bank- One of India’s premier banking organizations, the HDFC Bank is also massively preferred when it comes to used car loans. The bank has strategic tie-ups with a number of authorized pre-owned car dealers in India, and highlights its offerings with a commitment towards faster loan approval and convenient doorstep service. Some of the basic features and benefits of HDFC Used Car Loan are listed below-

    • Easy documentation- Loan is based on just an ID and address proof. No income documents needed.
    • Great Value- Assured funding of up to 100%.
    • Customer Centric- Transparent functioning and fixed interest rates. Very nominal down payment. EMI repayment not affected by fluctuation in the financial market.

    SBI Bank- India’s largest public sector bank is also a key player when it comes to used car finance. This loan applies for the purchase of a used vehicle that isn’t older than 5 years and may either be a passenger car, Multi Utility Vehicle (MUV) or Sports Utility Vehicle (SUV). The repayment tenure on offer is the longest in the Indian context, stretching upto 84 months. A listing of the features and benefits of SBI Used Car Loan are as follows-

    • Zero Advance EMI alongside the lowest EMI option in its class.
    • Long repayment tenure of 84 months/ 7 years.
    • Very nominal interest rates and processing fee (0.51% of loan amount).
    • Up to 85% funding depending on the on-road price of the car.
    • Pay EMI anytime through the applicable month.
    • Just 2% pre-payment penalty if you decide to finish the loan before the end of tenure.
    • Interest is calculated on the daily reducing balance model.
    • Provision for optional SBI Life Cover.

    ICICI Bank- One of India’s premier private sector bank, ICICI, is also a leading lender of used car loans. The loans on offer are highly customer centric and loaded with an attractive array of features and benefits that will appeal to the most discerning potential customer. The highlights of an ICICI Bank second hand car loan are as follows-

    • Loan up to 80% of the overall ex-showroom price.
    • Enjoy loan tenure of up to 5 years.
    • Very attractive rate of interest.
    • Easy documentation and hassle free loan approval process.
    • Availability of insurance cover for loan liability, repayable alongside the EMI.

    IndusInd Bank- An active player in the sphere of used car finance, IndusInd Bank offers comprehensive loan options when it comes to the purchase of a used car for personal or commercial use. The loan is offered for all makes and types of cars available in India. The salient features of this loan are as follows-

    • Attractive loan terms and efficient turn-around time.
    • Hassle free documentation and easy, fast track loan processing.
    • Transparent process with zero hidden costs.
    • Repayment tenure extends up to 60 months to suit the customer’s requirements.

    Capital First Used Car Loan - Capital First is a Non-Banking Financial Corporation that offers a wide variety of financial services to customers from different income groups with varying financial needs. One of its most popular products is the used car loan scheme called Used Car Elite Program, which offers finance for purchase of used cars at a low rate of interest. Customers can avail an LTV of 100% under this scheme. Some of the main features and benefits of Capital First Used Car Loan are as follows:

    • Quick and easy documentation - With minimal documentation and verification procedures, the loan will be processed by the company.
    • Low interest rate - Capital First offers an attractively lower rate of interest on their used car loan scheme, compared to other lenders.
    • Repayment - There is flexibility in the repayment options provided by the company and the borrower can choose an option that is best suited to his financial profile.

    TVS Credit Services Limited- The loans on offer here are very affordable, with the availability of a wide range of flexible pre-owned car loan schemes. The company also boasts of a quick turnaround time, robust customer service and adherence to a transparent and customer friendly loan approval and disbursement process. The salient features of TVS Credit Used Car Loans are as follows-

    • Funding to purchase any pre-owned car, manufactured in India and not older than a specified limit.
    • Hassle free, customer centric documentation and loan approval procedures.
    • Loan repayment tenures of upto 48 months.
    • Basic loan eligibility amounts to 15 times of the customer’s monthly income.
    • Open to salaried individuals, self-employed people, proprietorship or partnership firms, private and public limited companies.

    Used Car Loan - FAQ

    • How to procure a used car loan?

      The ideal choice is to compare the various pre-owned car loan options available online and apply instantly through the same medium. The contacted bank will reach out to you at a later date to finalize and confirm upon the associated documentation and other details.

    • When applying for used car loans, do I need a guarantor?

      No, most banks do not require a guarantor but may ask you to involve your parent/spouse/ offspring as a co-applicant if your income doesn’t meet the set eligibility criteria.

    • What car models can I purchase with my allotted used car finance?

      Any automobile available in the market. Some banks may finance vehicles that are only manufactured by an Indian company, but usually there are no restrictions in terms of the type and brand of vehicle available on the menu.

    • How much old car loan will likely be granted to me?

      Usually, the loans on offer fund anywhere from 80%-100% of the used car’s on-road price.

    • Can I borrow an additional loan over my allotted second-hand car loan?

      This activity is known as ‘refinancing’ and it is a possibility with many banks. The value of the car can be encashed to meet your immediate monetary requirements, even while you actively continue to use the car. Ideally, you can avail upto 80%- 85% of the car’s valuation amount.

    ARTICLES:

    When should you think about buying a pre-owned car?

    At the time of deciding on a new car, you would quite possibly turn to the internet for information on the best models out there. But be warned that you will be swamped with multiple theories on why one model is better than the other. The decision-making process also developed more tributaries when the used-car market saw a definitive boom in the country. Today, the prospect of owning a used car does not lack too much of the lustre associated with the purchase of a new one.

    So when should you think about buying a pre-owned car? What are the advantages of doing so? Read this article to find answers to all this and more. Read More

    Things to keep in mind when purchasing a car

    Owning a car has metamorphosed into a basic necessity in modern times. The automobile industry is witnessing a steep growth each year as more and more youngsters are keen on buying a car instead of a two-wheeler, early on in life. The increase in disposable income of a fresh graduate (who steps into a salaried job with a fat paycheck) has contributed to the popularity that cars have gained as the preferred vehicle for purchase.

    But there are several things you should keep in mind before you actually buy a car. Read through this page to understand how to assess your needs and make a prudent purchase decision. Read More

    How to transfer the ownership of a used car?

    The used car market in India is a flourishing industry. The convenience of acquiring a pre-owned car, coupled with an incomparable low price tag is what makes the proposition highly attractive to the average middle-class buyer.

    If you are planning to buy a pre-owned vehicle in the near future, you should read through this page. It offers all the information you need to make a prudent purchase decision. Read More

    The top 7 banks for car loans

    Buying a car has become a stress-free and pleasant experience, thanks to the plethora of car financing options available in the market today. If you have a decent credit score and a good income, you can be assured that you will receive financial assistance for the purchase of your dream set of wheels.

    This page gives you an insight on the top car financing solutions available in the market. You will get an idea of the benefits of each plan and the eligibility criteria. The interest rates and charges for the car loans are also clearly indicated. So, if you plan to buy a car in the near future, you should definitely read through this page as part of your pre-purchase research.  Read More

    9 tips on how you can manage your car loan better

    In the excitement surrounding the purchase of your new car, you should not forget about focussing on important details associated with the car loan application process. This page offers you all the information you need at the time of applying for a car loan.

    For instance, making a huge down-payment is very effective in bringing down the EMIs. Also, your choice of car and loan tenure can greatly influence the repayments.

    Think through the entire car loan application process and be equipped with all the required information before you actually apply for one.Read More

    Read Used Car Loan news or Enjoy it on the go Google Play

    • Toyota Motor Corp banks on hydrogen-fueled vehicles

      While electric vehicles are becoming mainstream, Toyota Motor Corp, the Japanese auto manufacturer is focused on producing hydrogen-fueled vehicles. The auto maker sells over 10 million vehicles around the word in a year. Only 4,000 Mirai fuel cell vehicles have been sold since 2014 outside Japan. However, by 2020, the company aims to sell 30,000 fuel-cell vehicles. Tesla Model S can go about 480 kms on a single charge while the Mirai can go for 502 kms per fueling. Takeshi Uchiyamada, the Chairman of Toyota believes that hydrogen is a stable fuel for low-carbon emission. According to The Hydrogen Council, by 2030, about 10-15 million cars and 5 lakh trucks will be fueled by hydrogen.

      17th November 2017

    • Peugeot collaborates with Huawei to build a software for a connected car

      PSA Group will be collaborating with Huawei Technologies, leading Chinese telecom company, to create a safe connected automobile system. This collaboration will help both the companies in enhancing connected vehicle platforms.

      This new platform will help these companies offer unique services such as remote vehicle diagnostics, car-sharing abilities, over-the-air updates on software, and lots more.

      The first services of this exclusive collaboration will be introduced in the year 2018 in China and Europe.

      15th November 2017

    • New emission and safety regulations will make petrol automobiles more expensive

      It has been reported that new cars will be more expensive once the car industry introduces new alterations to regulations related to emission and compulsory fitment of both active and passive safety features to cars.

      It is anticipated that these new safety features and introduction of newer emission regulations will increase the costs of petrol cars by at least Rs.40,000 and of diesel cars by at least Rs.80,000. This price rise is expected to reach the market by the year 2020.

      Car prices may also get affected due to cost escalations associated with Forex and prices of raw materials.

      9th November 2017

    • Tata and Hyundai to Launch Their Electric Cars in India

      Tata Motors, Hyundai, and few other Indian car manufacturers are leading the race to launch their electric cars in India. While Tata Motors is looking to showcase the electric version of Tiago Hatchback at the 2018 Auto Expo, Hyundai is planning to start the assembling of electric vehicles in India by 2019. Concurrently, Tata also plans to revive the Nano brand by giving it an electric powertrain.

      India is the third largest market for Hyundai after China and the US. The Korean car giant dropped its plans to launch hybrid cars in India due to a hike in tax rates for hybrid vehicles under the GST. However, the automaker is in the process to determine which car model among the Kona SUV and the Elantra sedan will be more suitable for India.

      8th September 2017

    • New Range Rover Velar to be launched during Diwali

      Velar - the fourth car in the Range rover family and definitely the most stunning SUVs in the world will launched in India during this diwali. The Velar is just not another SUV, but it is the escalation for Land Rover line, an iconic car the British band has ever made.

      Months prior to the launch, early bookings have already begun in Delhi. The official price for the new beast will be announced on September 21st, but the estimated price is between Rs.75 lakhs to Rs. 1 crore. Velar will be available in one petrol and two diesel variants with mind blowing torque and BHPs respectively for the Indian market.

      The new Velar SUV slots between the Evoque and the Range Rover Sport SUV. Staying true to the Range Rover design philosophy, the new Velar comes with 8-speed gear box, all-wheel drive, featured LED headlights, brand new futuristic touch pro duo infotainment system, flush door handles, top class uncluttered interiors, luxurious infinity cooler microfiber leather, low engine sounds, ample leg room, large 20-inch wheels with excellent terrain controls and the list of luxury is endless. The Velar is available in three variants from S to SE and top variant is HSE. All three are expected to be available in India.

      31st August 2017

    • New Hyundai Verna Launched in India

      The all-new, fifth generation Hyundai Verna was officially launched in India this week. The Verna will face stiff competition in the auto market from the likes of the Volkswagen Vento and the Honda City. The new Verna comes in a petrol and diesel variant and these are available with either an automatic or a manual gearbox option. The petrol variant of the new Hyundai Verna is priced at Rs.7.99 lakh while the diesel variant is priced at Rs.9.19 lakh. New features which are included in the Verna range from a 7-inch touchscreen, a sunroof, and ventilated front seats apart from other attractive features.

      23rd August 2017

    • Tesla Model 3 to include special parts from Infineon

      It has been decided that German chipmaker, Infineon, will be offering supply parts to the Model 3 electric car which is soon going to be manufactured and released by Tesla. Infineon provides chips to some of the top electric vehicle companies in the world. These chips are utilised for monitoring motors as well as batteries of vehicles.

      The products of Infineon are already used in the sports car of Tesla known as Model S. This is one of the best-selling cars in the globe.

      Last week, Tesla delivered the first 30 vehicles of Model 3s to its employees who were interested in the model. This is only a small portion of the half million bookings that have been made in advance.

      2nd August 2017

    • Used Car Market Gets New Addition

      India’s car market has witnessed a huge boom over the last decade, with the number of vehicle sales increasing every year. Apart from the new car segment, used cars have found considerable favour among the population, with trusted brands establishing pre-owned car dealerships to cash in on this demand. After Maruti Suzuki, Hyundai and Mahindra, Renault India has jumped onto the bandwagon, establishing “Renault Selection”, a flagship facility dealing in pre-owned cars.

      The first showroom of Renault Selection was recently launched in Whitefield, Bangalore, with the French carmaker hoping to start similar showrooms in Nagpur, Chandigarh and Jaipur. These showrooms will help prospective car buyers find a car which suits their needs, with the company offering a 1 year/20,000 km warranty on cars, ensuring buyers do not face any issues later. Apart from the warranty, Renault will provide additional services like roadside assistance, insurance and finance. The current facility has been established as a partnership with Trident Auto and can house over 100 cars, each of which going through an exhaustive 199 point check-up to ensure there are no hidden niggles.

      The Indian used car market is currently one of the biggest in the world, 3 times larger than western nations. Renault’s entry into this segment is bound to heat competition, heralding good news for car enthusiasts.

      13th June 2016

    Used Car Loan Reviews

    • HDFC Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken second hand car loan from HDFC bank and the experience was quite good. The loan amount was for Rs 2.5 lakhs with the rate of interest which is nominal in the market. The tenure period of this loan is 2 years. Customer service was good and they responded on time, documents were collected door step. There is no charges on preclosure and part payment.
      Was this review helpful? 0
      , kolkata
      Reviewed on Dec 15, 2017
    • HDFC Bank Car Loan
      "Car loan with HDFC"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with HDFC bank. The approved loan amount was 10 lakhs 50 thousand. The monthly EMI comes around 31000 with a rate of interest of 10.25%. I have opt for a tenure of 5 years. The documentation process was really good and they have waived off the processing amount.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 14, 2017
    • HDFC Bank Car Loan
      "Hassle free service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from HDFC. The approved the loan amount was 3.9 lakhs. The monthly EMI which i had to pay back to the bank was 6880. The tenure which i have chosen was 5 years. Its a less documentation process. The service was hassle free.
      Was this review helpful? 0
      , new delhi
      Reviewed on Dec 14, 2017
    • Kotak Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with Kotak Mahindra Bank and it was a good loan experience. The loan amount was for Rs 2 lakhs with the nominal rate of interest when compared to all other banks. The process was very smooth and my loan amount was approved within 2 days. I submitted my documents directly to the showroom. Customer service was good and they followed up correctly.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 13, 2017
    • Union Bank of India Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan with Union Bank of India and it was a good loan experience. The process was very smooth and the loan amount was approved within the given time and there was no delay. Customer service was good and they provided door step service to collect the documents. The loan amount was for Rs 3.25 lakhs with the nominal rate of interest when compared to all other banks.
      Was this review helpful? 1
      , ghaziabad
      Reviewed on Dec 13, 2017
    • Kotak Car Loan
      "Interest rate should be reduced"
      0.5 4.0/5 "Great!"
      Kotak gave me car loan, I have taken the loan amount of Rs. Rs. 6 lakhs. Based on that loan, Kotak Mahindra gave me the top up loan and personal loan. But their interest rate is high The car loan has the tenure period of three years it would be great if they reduce the rate.
      Was this review helpful? 2
      , chennai
      Reviewed on Dec 13, 2017
    • SBI Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a car loan with State bank of India.The loan amount is three lakhs,rate of interest is nominal as compered to others.The tenure is for seven years.The monthly EMI is 6000 I had to submit documents to process the request.The loan request processed within 7 days.
      Was this review helpful? 1
      , kochi
      Reviewed on Dec 13, 2017
    • SBI Car Loan
      "Average service"
      0.5 1.0/5 "Really Bad"
      I have taken a Car Loan with State Bank of India.The loan amount is 5 lakhs,tenure is for 5 years.I planned to make a part payments to outstanding amount however its not possible to reduce the EMI whereas they will reduce the tenure,i am not satisfied at all with the service.The customer service is not up to the mark.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Dec 13, 2017
    • Ford Finance Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan from Ford Credit and it was a pre approved loan. it was a good loan experience with Ford credit. The loan amount was for Rs 5 lakhs with the rate of interest of 7.99% which is less when compared to other sources. The process was very smooth and the loan amount was approved within 2 days. Customer service was good and they responded on time.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 12, 2017
    • Kotak Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan with Kotak Mahindra Bank and it was a very good experience overall. The loan amount was for Rs 3.5 lakhs with the rate of interest which is high when compared to other banks. This was a pre approved loan so my loan amount was disbursed within a day. Customer service was very good and they responded on time.
      Was this review helpful? 0
      , bangalore
      Reviewed on Dec 12, 2017
    • Kotak Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The Kotak Mahindra finance gave me a car loan and I got it around 3 years back. The customer support is average with the Kotak mahindra bank. The rate of interest and the charges are average with the Kotak Mahindra finance but their loan amount was sanctioned up to 75% , so I am not satisfied with it. I have to pay the car loan fro next 3 years.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 12, 2017
    • Tata Finance Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      The tata finance has offered me a car loan around 3 years ago. The customer support was average with the TATA finance. The car loan has been sanctioned for 75% and I have the paid the initial amount and I got the vehicle. The rate of interest and the charges are high with the Tata finance when compared with others.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 12, 2017
    • SBI Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The car loan service was good with the State bank of India and I got the car loan around 3 years ago. The customer support is good with the state bank of India. I have got the car loan up to 75% which was helpful, the rate of interest is low with the State bank of India , when compared with others.
      Was this review helpful? 2
      , bangalore
      Reviewed on Dec 12, 2017
    • HDFC Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan with HDFC bank and it was a good loan experience. The loan amount was for Rs 5 lakhs with the nominal rate of interest when compared to other banks. This was preapproved loan so no much documents were required. The process was very smooth and the customer service was good.
      Was this review helpful? 5
      , hyderabad
      Reviewed on Dec 11, 2017
    • ICICI Bank Car Loan
      "Good service"
      0.5 5.0/5 "Blown Away!"
      The car loan service is good with the ICICI bank and they have offered me a loan within the promised time. The customer support is very supportive and they are very much supportive. The ICICI bank executives directly helped me to get in touch with the car dealer ,. The rate of interest and the charges are nominal with the ICICI bank.
      Was this review helpful? 4
      , new delhi
      Reviewed on Dec 11, 2017
    • SBI Car Loan
      "Best service"
      0.5 5.0/5 "Blown Away!"
      I have applied for a car loan with State Bank of India.the loan amount is 4 lakhs,rate of interest is 9.65% nominal as compared to others.The tenure is for one year.I have deducted processing fees of Rs 6000.I have submitted documents,they have processed the loan within 2 weeks.EMI amount is debited from my salary account.
      Was this review helpful? 2
      , ernakulam
      Reviewed on Dec 11, 2017
    • Bank of Baroda Car Loan
      "Really good"
      0.5 5.0/5 "Blown Away!"
      I have closed the car loan with the Bank of Baroda and the rate of interest was not aware by my end. I am happy with them and I don't have any issues on it. Everything is fine one with the Bank of Baroda.
      Was this review helpful? 2
      , new delhi
      Reviewed on Dec 11, 2017
    • ICICI Bank Car Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I have got the employee car loan from ICICI bank and I got the loan amount of Rs,3,50,000. The rate of interest and the charges are nominal with ICICI bank when compared with the other banks. The customer support is good with ICICI bank and this loan has the tenure of 5years.
      Was this review helpful? 0
      , chennai
      Reviewed on Dec 11, 2017
    • HDFC Bank Car Loan
      "Better service"
      0.5 5.0/5 "Blown Away!"
      I have taken car loan with HDFC bank and it was overall a good loan experience. The loan amount was for Rs 8 lakhs with the rate of interest which is nominal when compared to other banks. The process was very quick, it took 2-3 days for the loan amount to get approved. Customer service was good, they provided door step service to collect the documents. My car loan was based on ex-showroom price and it was a good service from HDFC.
      Was this review helpful? 5
      , mumbai
      Reviewed on Dec 09, 2017
    • HDFC Bank Car Loan
      "Average service"
      0.5 4.0/5 "Great!"
      My car loan experience with HDFC bank was good, the loan amount was for Rs 4.5 lakhs with the high rate of interest when compared to all other banks. The process was quite long, it took more than the normal time for the loan amount to get approved, Customer service was good and documents were collected door step.
      Was this review helpful? 2
      , lucknow
      Reviewed on Dec 09, 2017
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