Top Car Loans Providers in Faridabad - Vehicle Loans

Top List of Car Loan Providers in Faridabad. Get a Car loan with a low interest rate. Also, get an instant vehicle loan, Auto loan, used car loan, commercial car loan, and more. Find the best car loan service providers near your location. as on Oct 10, 2024

Car Dhoondho.Com

Janakpuri, Delhi, 110058

( Also serves in Faridabad )

4.7/5 Based on 3 Reviews

+08069868119

+1 more

Response Time: More than 60 MinsSulekha score: 6.7

Car Dhoondho.com, located in Janakpuri, Delhi, is a prominent car finance and loan service provider. They specialize in helping customers secure financing for both new and used vehicles with tailored loan options that meet individual needs. The company is known for its customer-centric approach, offering competitive interest rates and flexible repayment terms. They operate from 10:00 AM to 8:00 PM, ensuring accessibility throughout the day. Car Dhoondho.com has received positive feedback for their prompt service and professionalism, making them a trusted choice for vehicle financing in the Delhi area

Available Loan Types:

Offering 3 different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹25 Lakhs and above
Depending on the type of loan

Sandeep Kumar from Delhi

"Good services and well trained staff"

sunny from Delhi

"I take the new car loan from car dhoondho .. fabulus services"

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Integrity Financial Services

Jhilmil Colony, Delhi, 110095

( Also serves in Faridabad )

+08035428145

Loans Business Loans Car Loans

+12 more

Response Time: Within 15 MinsSulekha score: 7

Integrity Financial Services, located in Jhilmil Colony, Delhi, specializes in offering a variety of financial services, including home loans, personal loans, and mortgage services. With a dedicated team and a strong reputation for professionalism, the business aims to provide seamless financial solutions tailored to customer needs. They operate from 10:00 AM to 6:30 PM, Monday to Saturday, and offer consultation services for loans ranging from home to personal, focusing on prompt and efficient customer service. Their services cater to both individuals and businesses, ensuring that financial planning is accessible and comprehensive for all.

Available Loan Types:

Offering 10+ different types of loans

Loan Amount Range:

From ₹5 Lakhs to ₹1 Crore and above
Depending on the type of loan

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Vivek Kumar

Delhi, Delhi, 110051

( Also serves in Faridabad )

4.9/5 Based on 7 Reviews

+08099937230

Loans Car Loans Used Car Loans

+1 more

Response Time: Within 30 Mins Sulekha score: 8.5

Vivek Kumar in Delhi provides a variety of consultancy services, primarily focusing on areas like finance management and corporate solutions. His consultancy offers personalized advice and strategies for businesses looking to optimize their financial operations or expand their market presence. Located in Pitampura, Vivek Kumar’s consultancy has garnered positive reviews for its efficient and reliable services, earning a solid reputation in the local business community. Clients appreciate the comprehensive and tailored approach that ensures their specific needs are met with precision. Whether it's financial planning, legal advice, or business strategy, Vivek Kumar is recognized for his professionalism and commitment to client success

Available Loan Types:

Offering 3 different types of loans

Loan Amount Range:

From ₹1 Lakhs to ₹25 Lakhs and above
Depending on the type of loan

Ravi jha from Delhi

"Vivek sr your loan survices are very exilant ??????"

Himanshu from Delhi

"Vivek sir is very reliable, honest and operate with integrity. He shows accountability and responsiveness towards our work. I really recommend him and his team to anyone who is suffering from the loan problems. "

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Mahindra Finance in Main Market

Main Market, Faridabad, 121002

+08069680236

Loans Car Loans Commercial Vehicle Loans

+6 more

Working hours: 10:00 AM to 6:00 PM

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Mahindra Finance in Faridabad C.B.S

New Industrial Township, Faridabad, 121002

+08069864919

Loans Car Loans Commercial Vehicle Loans

+6 more

Working hours: 9:30 AM to 6:30 PM

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Perfect Business Consultancy Pvt. Ltd.

Sector 18, Noida, 201301 ( Also serves in Faridabad )

Loans Business Loans Car Loans

+9 more

Sulekha score: 6.4Years of Experience: 7

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Mahindra Finance in Grain Market Palwal

Agra Chowk", Faridabad, 121102

Unverified

Loans Car Loans Commercial Vehicle Loans

+6 more

Working hours: 9:30 AM to 6:30 PM

Mahindra Finance is one of India's leading Non-banking Financial Companies, offering a comprehensive range of Financial Solutions under one roof. With over 9 million customers and an AUM of over Rs. 81,000 crores, our product portfolio includes Vehicle Finance, Tractor loans, Car loans, Commercial Vehicle Loans, SME Finance, Housing Finance, insurance Broking, Mutual Fund Distribution, Fixed Deposits, Personal Loans, etc. tailor-made to custo ... less

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Shriram Finance Limited

New Industrial Township, Faridabad, 121001

Unverified

+09513405355

Loans Business Loans Car Loans

+12 more

Hired on Sulekha: 1 time

Shriram Finance is the country’s biggest retail NBFC offering credit solutions for commercial vehicles, two-wheeler loans, car loans, home loans, gold loans, and personal and small business loans. In November 2022, Shriram Group’s entities – Shriram Transport Finance Company Limited, Shriram City Union Finance Limited, and Shriram Capital Limited – merged to form Shriram Finance Limited. Shriram Finance has a network of 2,922+ branches and a work ... less

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Shriram Finance Limited

Ballabgarh, Faridabad, 121004

Unverified

+09513401445

Loans Business Loans Car Loans

+12 more

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Shriram Finance Limited

Palwal, Faridabad, 121102

Unverified

+09513404089

Loans Business Loans Car Loans

+12 more

Hired on Sulekha: 2 times

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Why Choose Sulekha?

Sulekha is your go-to platform for finding a wide variety of loan providers catering to diverse financial needs such as personal loans, car loans, home loans, vehicle loans, mortgage loans, education loans, and more. With Sulekha, you gain access to a comprehensive network of reputable lenders, ensuring you find the perfect match for your specific requirements. The platform simplifies your search process, saving you time and effort by connecting you with trusted professionals who can offer tailored loan solutions. Choose Sulekha for a seamless and efficient loan-seeking experience.

1. When to Consider Taking Out a Car Loan?

Financial Stability: Ensure you have a stable income to manage monthly payments and an emergency fund to cover unexpected expenses. This financial cushion helps prevent stress and ensures you can meet loan obligations without compromising other financial needs.
Credit Score: A good credit score can help secure a loan with lower interest rates and better terms. Check your credit score and improve it if necessary to enhance your borrowing options and reduce overall loan costs.
Interest Rates: Research current interest rates for car loans and compare offers from multiple lenders. Securing a lower interest rate can significantly reduce the total cost of the loan over time.
Down Payment: A larger down payment reduces the amount you need to borrow, leading to lower monthly payments and interest costs. Aim to save as much as possible for the down payment to improve your loan terms.
Loan Terms: Consider the loan term length and ensure the monthly payments fit within your budget. Longer terms may have lower payments but result in higher total interest costs, so balance the term with your financial capabilities.
Vehicle Necessity: Determine if the car is a necessity or a luxury. Essential purchases may justify taking on a loan more than discretionary ones. Also, be aware of the car's depreciation and how it affects your financial position.
Total Cost of Ownership: Factor in additional expenses like insurance, maintenance, fuel, and registration when budgeting for a car loan. Ensure these costs fit within your budget along with the loan payments.
Alternative Financing: Explore other financing options like personal loans or borrowing from family as they may offer better terms. If ownership isn't crucial, consider leasing which might have lower monthly payments.
Pre-Approval: Getting pre-approved for a loan provides a clearer picture of what you can afford and strengthens your negotiating position with car dealers. It also helps streamline the car-buying process.
Economic Conditions: Consider broader economic conditions as they can affect loan availability and terms. Economic downturns may lead to stricter lending criteria while booms might offer more favorable loan terms.

2. Eligibility Criteria for Taking a Car Loan?

Age: Applicants should be between 21 and 65 years old at the time of loan maturity. This ensures that the borrower is legally eligible to enter into a loan agreement and will be within the working age to repay the loan.
Income: Salaried individuals typically need a minimum monthly income of ₹20,000-₹25,000, while self-employed individuals should have an annual income of ₹2-3 lakh. This demonstrates the applicant's ability to make regular loan payments.
Employment: Salaried individuals should have at least 1-2 years of employment history with 6 months to 1 year in the current job. Self-employed individuals should be in their current business for at least 2-3 years, showing stability and a reliable income source.
Credit Score: A good credit score, generally above 750, is essential as it reflects a strong credit history and responsible repayment behavior. Lenders use this score to assess the risk of lending to the applicant.
Residency: Applicants should have a stable residence history. If renting, lenders may require proof of stability such as a lease agreement or utility bills to ensure the borrower has a fixed address.
Down Payment: Some lenders may require a down payment ranging from 10-20% of the car's value. This upfront payment reduces the loan amount and shows the borrower’s commitment to the purchase.
Existing Debts: Lenders assess the debt-to-income ratio to ensure that the applicant can manage additional loan repayments without financial strain. Keeping existing debts within acceptable limits is crucial.
Type of Car: The car’s make, model, and age (for used cars) can influence loan eligibility. Newer models usually have better financing options due to their higher resale value and lower maintenance costs.
Documentation: Applicants need to provide KYC documents (proof of identity, address, and age), income proof (salary slips, income tax returns), employment proof (employment certificate, business registration), and car documents (proforma invoice, car registration for used cars).

3. What are the Benefits and Advantages of a Car Loan?

Ownership: A car loan allows immediate ownership of the vehicle once the loan is paid off, unlike leasing. It becomes an asset you can sell or trade in the future, contributing to your personal wealth.
Affordability: Car loans spread the cost over time, making payments more manageable and predictable. This helps with budgeting and financial planning, ensuring you don't need to pay a large sum upfront.
Improved Credit Score: Regular, on-time payments can positively impact your credit score. Additionally, having a car loan diversifies your credit profile, which can further enhance your credit rating.
Flexible Terms: Car loans offer flexibility with various lenders and terms available, allowing you to find the best interest rates and repayment periods. You can customize options like loan length and down payment size to suit your financial situation.
Lower Interest Rates: As a secured loan, car loans generally have lower interest rates compared to unsecured loans. The competition among lenders also means you can shop around for the best rates and terms.
Access to Better Vehicles: A loan increases your purchasing power, enabling you to buy a newer or better car than you might afford with cash. Newer cars often come with improved safety features and technology.
Tax Benefits: If the car is used for business, you may deduct the interest on the loan from your taxes and claim depreciation on the vehicle, providing additional financial advantages.
Liquidity Preservation: Taking a car loan helps preserve your savings and maintain liquidity for other expenses or investments, allowing better cash flow management.
Special Offers and Incentives: Manufacturers and dealers often provide special financing deals like low or zero-interest rates, making car loans even more attractive and cost-effective.

4. Important Factors to Consider When Taking a Car Loan?

Interest Rate: Compare the Annual Percentage Rate (APR) across different lenders as a lower rate means less interest paid over time. Understand if the rate is fixed (constant) or variable (fluctuating based on market conditions).
Loan Term: Loan terms typically range from 12 to 72 months. Longer terms result in lower monthly payments but higher total interest costs. Choose a term that balances manageable payments with overall interest expenses.
Down Payment: A larger down payment reduces the amount you need to finance, lowering monthly payments and total interest. Higher down payments can also lead to better loan terms and interest rates.
Loan Amount: Borrow only what you can comfortably repay. Financing extras like warranties or insurance increases your loan amount and monthly payments, so consider these additions carefully.
Credit Score: A higher credit score can qualify you for lower interest rates and better loan terms. If your credit score is low, work on improving it before applying to secure better terms.
Total Cost of the Loan: Calculate the total interest paid over the life of the loan and be aware of additional fees such as origination fees, prepayment penalties, and late payment charges.
Monthly Payment: Ensure the monthly payment fits within your budget without straining your finances. Factor in other expenses like insurance, maintenance, and fuel.
Lender Options: Consider various lender options including banks, credit unions, dealership financing, and online lenders. Compare offers to find the most competitive rates and terms.
Pre-Approval: Getting pre-approved for a loan helps you understand your budget and strengthens your bargaining position with dealers. Some pre-approvals also lock in your interest rate for a certain period.
Loan Conditions: Check for conditions related to refinancing, transferring the loan if you sell the car, and any penalties for early repayment. Understand the payment schedule and due dates to avoid penalties.
Insurance Requirements: Consider gap insurance if you make a small down payment or have a long-term loan. Lenders often require full coverage insurance which can be more expensive than standard coverage.
Resale Value: Understand the car’s depreciation rate and its impact on your loan-to-value ratio. Ensure you won’t be underwater (owing more than the car’s value) by making a substantial down payment or choosing a shorter loan term.

5. Car Loan Interest Rates?

Car Loan Interest Rates

Bank Name	Interest Rate (per annum)	Loan Tenure	Processing Fee
State Bank of India	7.75% - 8.75%	Up to 7 years	0.25% of loan amount (min Rs. 500)
HDFC Bank	7.95% - 8.30%	Up to 7 years	Up to Rs. 10,000
ICICI Bank	7.90% - 9.10%	Up to 7 years	0.5% of loan amount (min Rs. 3500)
Axis Bank	7.75% - 8.85%	Up to 8 years	1% of loan amount (min Rs. 3500)
Punjab National Bank	7.85% - 8.95%	Up to 7 years	0.5% of loan amount
Bank of Baroda	7.70% - 8.70%	Up to 7 years	Rs. 1500
Kotak Mahindra Bank	7.99% - 8.99%	Up to 7 years	0.5% of loan amount (min Rs. 3000)
IDBI Bank	7.50% - 8.75%	Up to 7 years	0.5% of loan amount
Union Bank of India	7.80% - 8.90%	Up to 7 years	Rs. 1000 - Rs. 1500
Canara Bank	7.85% - 9.00%	Up to 7 years	0.25% of loan amount (min Rs. 1000)

Note: Interest rates and fees can vary based on the loan amount, tenure, credit profile of the borrower, and specific bank policies. It is advisable to check with the respective bank for the most accurate and updated information.

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Most Common Questions About Car Loans

1. Who are the best Car Loan providers in Faridabad?

Car Dhoondho.Com
Integrity Financial Services
Vivek Kumar
Mahindra Finance in Main Market
Mahindra Finance in Faridabad C.B.S

2. What documents are required for a Car loan?

To apply for a car loan, you'll typically need to provide proof of identity (like a passport or driver's license), proof of address (such as a utility bill), proof of income (salary slips or bank statements), and vehicle details (proforma invoice from the dealer).

3. What are the eligibility criteria for a Car loan?

Eligibility criteria for a car loan usually include being between 21 and 65 years old, having a stable source of income (employment or business), a good credit score, and meeting the minimum income requirements set by the lender.

4. How do I apply for a Car loan online?

To apply for a car loan online, you can fill out the Sulekha form above with your loan requirements, and connect with the best loan providers that suit your needs. Also, you can visit the lender’s website, fill out the application form with your personal and financial details, upload the required documents, and submit the form. The lender will review your application and get back to you with their decision.

5. How can I get an instant Car loan?

For an instant car loan, apply through lenders offering instant approval services, typically online or through their mobile apps. Ensure you have all necessary documents ready and a good credit score to increase your chances of quick approval.

6. What is the percentage rate for Car loans?

The interest rate for car loans varies by lender and borrower profile but generally ranges between 7% to 12% per annum. Factors affecting the rate include credit score, loan amount, tenure, and type of vehicle.

7. Can I get a Car loan with a low CIBIL score?

It is possible to get a car loan with a low CIBIL score, but it may come with higher interest rates and stricter terms. Some lenders specialize in high-risk loans, but it's advisable to improve your credit score to get better terms.

8. What is the processing fee for a Car loan?

The processing fee for a car loan typically ranges from 0.5% to 2% of the loan amount, depending on the lender. Some lenders may have fixed fees, while others charge a percentage of the loan.

9. Can I get a Car loan with a bad credit score?

Yes, you can get a car loan with a bad credit score, but it might be more challenging. Expect higher interest rates and stricter loan terms. Consider looking for lenders specializing in subprime loans or improving your credit score before applying.

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Top Car Loan Providers in Faridabad

What type of vehicle loan do you need?

Find the Top Car Loan Providers from Sulekha in Faridabad

Top List of Car Loan Providers in Faridabad. Get a Car loan with a low interest rate. Also, get an instant vehicle loan, Auto loan, used car loan, commercial car loan, and more. Find the best car loan service providers near your location. as on Oct 10, 2024

Car Dhoondho.Com

Integrity Financial Services

Vivek Kumar

Mahindra Finance in Main Market

Mahindra Finance in Faridabad C.B.S

Perfect Business Consultancy Pvt. Ltd.

Mahindra Finance in Grain Market Palwal

Shriram Finance Limited

Shriram Finance Limited

Shriram Finance Limited

Recent Enquiries for Car Loan in Faridabad

Why Choose Sulekha?

1. When to Consider Taking Out a Car Loan?

2. Eligibility Criteria for Taking a Car Loan?

3. What are the Benefits and Advantages of a Car Loan?

4. Important Factors to Consider When Taking a Car Loan?

5. Car Loan Interest Rates?

Most Common Questions About Car Loans

1. Who are the best Car Loan providers in Faridabad?

2. What documents are required for a Car loan?

3. What are the eligibility criteria for a Car loan?

4. How do I apply for a Car loan online?

5. How can I get an instant Car loan?

6. What is the percentage rate for Car loans?

7. Can I get a Car loan with a low CIBIL score?

8. What is the processing fee for a Car loan?

9. Can I get a Car loan with a bad credit score?

Tips & Solutions for Applying Loan View All Blogs

Home Buying Trends 2021

Important Things That NRIs Should Know About Home Loan In India

Home Loan Agreement- Important clauses to know!

How To Avoid Rejection Of Your Personal Loan Application