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Finance Your New Car Easily with Our Car Loan Options

Secure a Car Loan Option with the Lower Interest Rates in the Market, designed to help you finance your new car purchase affordably.

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Documents Required to Apply for Car Loan

KYC documents (Valid Photo ID Proofs) PAN Card Last 2 years' ITR as proof of income Salary Slip (latest 3 months) Salary account statement(latest 6 months) Signature Verification Proof

Car Loan Eligibility

Car loan eligibility is about whether you can get a loan to buy a car. It depends on things like how much you earn, your credit score, and if you have other debts. Lenders use these details to decide if you can repay the loan. If you meet their criteria, you’re eligible for the loan; if not, you might need to wait or improve your financial situation before getting a car loan.

Access to Immediate Funds
Flexible Loan Tenures & Convenient Monthly Repayments
Customized Loan Amounts
Potential Tax Benefits
Option for New and Used Cars
No Need for Full Upfront Payment
Improve Credit Score through Timely Payments

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Car Loan Eligibility for Salaried Individuals

Individuals who are at least 21 years old at the time of loan application and no older than 60 at the end of the loan tenure
Individuals who have worked for at least two years, with at least one year with the current employer
Individuals with a minimum earning of Rs. 3,00,000 per year, including the income of the spouse/co-applicant.

For Self Employed Individuals

Individuals who are at least 21 years old at the time of application and no older than 65 at the end of the loan tenure.
Those who have been in business for at least two years.
Should earn at least Rs. 3,000,000 per year

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Here's how it works.

When you're ready, Cardinal Loans is ready too - 24 hours a day, 7 days a week.

1 Apply Online
2 Enter Your Informantion - 10 min
3 Pre-qualify / Pre-Approve - 5 min
4 Help you prepare
5 We help your qualify - 15 days

1 Schedule a Free Consulation
2 Discuss your Situation
3 We Review your condition & find a solution
4 Help you prepare
5 We help your qalify

Your security. Our priority.

We always have your security in mind. Rest easy knowing your data is protected with 128-bit encryption. Learn more.

Frequently asked questions

What is the interest rate for used and new car loans?

Interest rates vary based on credit score, loan term, and the lender. Generally, new car loans have lower rates compared to used car loans.

How much can I borrow for a car loan?

The loan amount depends on the car's value, your creditworthiness, and the lender's policies. Typically, lenders offer up to 80-100% of the car's value.

Do you offering refinancing ?

Yes, we offer car loan refinancing options to help you secure a lower interest rate, reduce monthly payments, or change the loan term. Refinancing can save you money over the life of the loan and improve your financial flexibility. Contact us to explore how refinancing can benefit you and to find out about our competitive rates and terms

What is the loan tenure for a car loan?

Loan tenures range from 12 to 84 months. Longer terms result in lower monthly payments but may increase total interest paid.

Do I need a down payment for a car loan?

A down payment is often required, typically 10-20% of the car's price. It can reduce the loan amount and lower monthly payments.

Can I prepay or foreclose my car loan?

Yes, most lenders allow prepayment or foreclosure, but some may charge a fee. Check with your lender for specific terms.

What happens if I miss a loan payment?

Missing a payment can incur late fees and negatively impact your credit score. Consistent non-payment may lead to repossession of the car.

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