Vehicle finance

Car Loan

Dealer finance is convenient. It is rarely the cheapest. We show you both.

New car loans covering up to 100% of on-road price at rates from about 8.5% p.a., with tenures up to 7 years, across banks and captive finance companies.

Rate from: 8.50% p.a.
Amount: ₹1 L to ₹2 Cr
Tenure: 1 to 7 years
Processing fee: Nil to 1% of the loan amount plus GST

Check new car loan eligibility

Free pre-screen across our lender panel. No bureau enquiry.

About car loans

Car loans are simple products with surprisingly wide pricing. The same buyer can be offered 8.75% by a bank with a salary relationship and 11.5% by the dealer's preferred financier, and the dealer's version often bundles insurance and accessories into the loan.

We compare bank, NBFC and manufacturer captive offers for your specific car and profile, including zero-processing-fee campaigns and 100% on-road funding schemes, and we tell you whether the dealer's cash discount for using their finance is worth the higher rate.

Approval is quick because the car is the collateral. With a pre-approved sanction in hand you negotiate with the dealer from strength.

Rate note: Salaried buyers with a bank relationship and a good score get the sharpest rates; used-car and lower-score profiles price higher. Funding: Up to 90% of ex-showroom price with most banks; 100% of on-road price for select profiles and models.

Why borrowers choose it

What a car loan through LoansPartner gets you

Up to 100% on-road funding
Cover registration, insurance and accessories for eligible profiles.
Bank rate versus dealer rate
We put both side by side, including the cash discount trade-off.
Sanction before you visit the showroom
A pre-approved loan lets you negotiate the car price, not the finance.
Tenure up to 7 years
Keep EMIs comfortable on premium models.
Fast processing
Same-day approvals are common for salaried applicants with existing bank relationships.
EV-specific schemes
Several lenders offer lower rates and longer tenures for electric vehicles.

Common uses

First car for a growing family
Upgrading to a premium or electric model
Second car for the household
Commercial use vehicles for professionals

Eligibility

Who qualifies

Norms vary by lender. These are the ranges across our panel; we tell you precisely where your profile fits before you apply.

Age: 21 to 65 years at loan maturity
Income: Net annual income of ₹3 lakh or more (salaried) or ₹3 lakh net profit (self-employed)
Credit score: 700 and above for the best rates
Employment: Salaried with 1+ year of experience. Self-employed with 2+ years in business

Estimate your eligibility

Documents

What to keep ready

A complete file is the single biggest driver of a fast sanction. We collect everything digitally in one go.

Salaried

PAN, Aadhaar and photographs
Last 3 months' salary slips and 6 months' bank statement
Form 16 or ITR
Proforma invoice from the dealer

Self-employed and business

PAN, Aadhaar and photographs
Last 2 years' ITR
Last 6 months' bank statements
Business proof
Proforma invoice

How it works

Five steps, one point of contact

01
Tell us the car you have shortlisted (or your budget), your income and city.
02
We share bank, NBFC and captive finance options with all-in costs for that model.
03
Documents are submitted; sanction typically arrives within a day or two.
04
The lender pays the dealer directly against the invoice. The car is hypothecated to the lender.
05
You drive away. We help remove the hypothecation from the RC once the loan is closed.

Indicative EMIs

What the instalment looks like

Computed at the lowest rate in this product's range. Run your own numbers in the EMI calculator.

Indicative EMIs at 8.50% p.a., the lowest rate in this product’s range. Your rate depends on lender and profile.
Loan amount	2 yr	3 yr	5 yr	7 yr
₹1,00,000	₹4,546	₹3,157	₹2,052	₹1,584
₹2,00,000	₹9,091	₹6,314	₹4,103	₹3,167
₹5,00,000	₹22,728	₹15,784	₹10,258	₹7,918
₹10,00,000	₹45,456	₹31,568	₹20,517	₹15,836
₹20,00,000	₹90,911	₹63,135	₹41,033	₹31,673

Lenders

Where we place car loan files

A selection from our panel. The best lender for you depends on your profile, city and the property or asset involved.

All lending partners

By city

Car Loans in your city

Local property rules, employer categories and lender appetite change what gets approved. Read the city-specific notes.

FAQs

Car Loan questions, answered

Is dealer finance cheaper than a bank car loan?

Rarely, but sometimes the dealer offers a cash discount or free accessories only if you take their finance. We compute the total cost of both routes so you can decide on numbers, not on the salesperson's pitch.

How much car loan can I get?

Up to 90% of ex-showroom or 100% of on-road price depending on the lender and your profile, subject to income: lenders usually cap the EMI so that your total obligations stay within 50% to 60% of income.

Are there prepayment charges on a car loan?

Most car loans are fixed-rate, so lenders may charge 3% to 5% of the outstanding amount if you close early, often reducing after two or three years. Some banks waive it entirely. We flag this in the comparison.

Can I get a car loan with a low credit score?

Yes, at a higher rate and a lower loan-to-value. Because the car secures the loan, NBFCs are more accommodating than they are on personal loans. A larger down payment helps.

Sometimes a different product is cheaper. We will say so.

Used Car Loan

Loans for pre-owned cars up to 10 years old, funding up to 90% of the assessed value at rates from about 11% p.a., with tenures up to 5 years.

Rate from: 11.00% p.a.
Up to: ₹50 L

Personal Loan

Collateral-free personal loans from ₹50,000 to ₹50 lakh at rates starting around 10.25% p.a., with disbursal typically within 48 hours of approval.

Rate from: 10.25% p.a.
Up to: ₹50 L

Get your car loan shortlist.

Share your requirement in two minutes. Our credit desk pre-screens your profile and calls with lenders, rates and next steps. No fee, no bureau enquiry.

Check eligibility +91 99999 00000