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    Used & New Car Loan, Get Best EMI for Auto Loan - CarTrade

    Get up to 90% financing from leading banks for used car and new car at best Interest Rates, EMI. Apply online in a few simple steps and get easy car loan approval for your dream car purchase.

    Car Loan Details

    New Car Interest Rate

    9% Onwards

    New Car Loan Tenure

    1 to 7 years

    Used Car Interest Rate

    12.5% Onwards

    Used Car Loan Tenure

    1 to 4 years

    Processing Fees

    Varies with bank

    Collateral/Security Requirement

    None

    Interest rates applicable on monthly reducing balance.

    How does this work?

    Fill in your details once

    Fill in your details once

    Get Free, No impact credit report

    Get Free, No impact credit report

    Get approval voucher

    Get approval voucher

    Visit dealer to buy car

    Visit dealer to buy car

    Looking for a Car Loan?

    • USED CAR
    • NEW CAR
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    Our Lending Partners

    HDFC Bank

    HDFC Bank

    ICICI Bank

    ICICI Bank

    IDFC First

    IDFC First

    IndusInd Bank

    IndusInd Bank

    Kotak Mahindra Prime

    Kotak Mahindra Prime

    Tata Capital

    Tata Capital

    Interest rate Comparison

    Bank Name

    Car Loan Interest Rate

    IDFC First

    9.99% p.a. onwards

    ICICI Bank

    12.5% p.a. onwards

    HDFC Bank

    12.75% p.a. onwards

    IndusInd Bank

    15% p.a. onwards

    Tata Capital

    15% p.a. onwards

    Why Choose CarTrade?

    Instant approval in minutes

    Instant approval in minutes

    Affordable and flexible EMI

    Affordable and flexible EMI

    Compare and choose your best offers

    Compare and choose your best offers

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    FAQs

    • What are the benefits of applying for a car loan with CarTrade?

      When you fill your basic details into CarTrade car loan eligibility tool, we provide you with all available options based on the information submitted. After you get the complete list of lenders who might suit your specific requirement you can compare the various loan options based on tenure, interest rate, maximum loan amount as well as other factors. You can then go ahead and zero in on the offer that is best suited to your specific requirement.

    • Can I get a loan to purchase a used car?

      Yes, car loan is offered for pre-owned cars. But, the interest rate for such a loan would differ from that of a new car and it would only cover the price of the car itself. Other costs such as transfer of registration, etc. will have to borne by you.

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

      The maximum loan amount approved may vary from one bank to the other. Usually, banks approve loan amounts that range from 80%–90% of the car’s on-road price. Few banks even lend 100% of the car’s ex-showroom price. In addition to these criteria, the percentage of financing offered depends on the price, type of car (standard/ premium) and whether you are applying for a new or pre-owned car.

    • What documents do I need to submit when applying for a car loan?

      Like any other loan that you apply for, a car loan application requires self attested supporting documents such as income (last three pay slips/last acknowledged ITR), address and identity proof documents along with you PAN card. Other documentation requirements, if any, tend to differ from one lender to another.

    • What is the typical tenure of a car loan?

      The tenure of a typical car loan ranges from 1 year to 5 years. The shorter the loan tenure, the higher is the EMI payable. Currently, a small number of lenders are engaged in providing car loans for longer durations of up to 7 years also.

    • Do I need a loan guarantor or co-borrower?

      A loan guarantor or a co-borrower is only required if you are unable to meet the eligibility criteria stated by the lending institution such as monthly income, age or credit score. Otherwise you can apply for a car loan on your own.

    View More FAQs