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    Car Loan - Apply and Get Instant Car Loan Eligibility Online

    Apply for Car Loans at CarWale and Get instant Car Loan Eligibility with upto 100% financing with affordable EMI at attractive Interest Rates and flexible repayment tenures.

    Car Loan Details

    Interest Rate

    9.2% Onwards

    Processing Fees

    Varies with bank

    Loan Tenure

    1 to 7 years

    Collateral/Security Requirement

    None

    Interest rates applicable on monthly reducing balance.

    How it works

    Fill in your details once

    Fill in your details once

    Get approval voucher

    Get approval voucher

    Visit dealer to buy car

    Visit dealer to buy car

    Step 1/3 - Get Started

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    Our Finance Partners

    HDFC Bank

    HDFC Bank

    EMI Calculator

    Get instant approval with EMI starting 2085/lakh

    ₹ 1,00,000

    ₹ 50,00,000

    Min Loan Amount

    Max Loan Amount

    Tenure: 

    5 Years

    Interest: 

    9.2%

    ₹ 14,598

    EMI For 5 Years


    Tenures and Interest Rates shown here are indicative. Actual tenures and interest rates may vary depending on your eligibility. This doesn’t include bank processing fee

    Principal Loan Amount

    ₹ 7,00,000

    Total Interest Payable

    ₹ 1,75,880

    Total Loan Payment(Principal Loan Amount + Total Interest Payable)

    ₹ 8,75,880

    Latest News on Car Loans

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    FAQs

    • Why should you apply for new car loan through CarWale?

      CarWale brings you instant custom-fit car loans from leading banks in India to help you get a loan to purchase your dream car. Just fill the form once and get custom fit loan quotes with upto 100% financing on select vehicles, flexible repayment tenure and pocket-friendly EMIs from our finance partners. In case you have not finalized on a car, we also assist you in finding a car that suits your needs perfectly.

    • What is the maximum loan amount that I can avail for new car loan?

      The maximum loan amount you get is different for different banks. Based on the car you choose, you can check your eligible loan offer. Generally most banks offer loan for 80% to 90% of the on-road price of the car. Few banks also offer up to 100% financing on new car loan based on your income and credit history.

    • What will be the interest rate for car Loan on CarWale?

      The interest rates vary on the basis of car models, tenure selected and your preferred banking partner. We provide offers starting from 9.5% per annum. Your exact rate of interest will be determined by the lender on the basis of your loan application. Lenders also generally charge you with a processing fee directly deducted from your car loan amount which can be negotiated with the lender at the time of sanction of your application.

    • What is the tenure for which I can get a new car loan?

      Generally loan providers offer new car loans for tenures ranging from 1 year to 7 years. You can choose the loan tenure as per your preference.

    • What is car loan EMI? How is this calculated?

      EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your car loan. These payments include the principal amount as well as the interest. The amounts of EMI you have to pay depend on the tenure of your car loan. For a longer tenure, loan repayment is spread over greater number of years and the installments are smaller whereas for a shorter tenure, installments will be larger.

    • What is the eligibility criteria to apply for new car loan on CarWale?

      Generally, the bank or lender will need to review the following to determine your new car loan eligibility:

      • Your credit history (based on a soft review of your credit report)
      • Your income
      • Your age and citizenship status
      • Other debts and monthly financial obligations
      • Your employment status

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