Auto Loan
Auto Loan in Ahmedabad
An Auto Loan is taken by borrowers to purchase a new or used private or commercial vehicle. Auto Loans in Ahmedabad are secured loans where the vehicle itself is used as collateral.Until you fully repay the loan, the lender holds the title to the car (RC books & other documents) and can repossess it if you fall behind on payments. Here, a Particular vehicle acts as security for the lenders.
A car loan can be availed for a max tenure of 5 years but some of the banks/ NBFC can provide the loan up to 8 years for both new and used vehicles. The higher the tenure and lower would be the EMI. So, tenure depends upon the customer’s profile and financial eligibility.
Feature & benefits of Auto Loan
- Lowest ROI compare to Other unsecured loans. (PL & BL)
- Repayment tenure of up to 8 years, EMI would be lower than any unsecured loan (PL or BL).
- Since it’s a secured loan, it’s easier to avail of the loan for the salaried or Businessman without any hassle.
Type of Car loan
- New Car loan- New Car loan is granted to a person for purchasing a brand new car straight from the showroom or Shops.
- Used Car loan- Used Car loan is granted to a person for purchasing an old card or second-hand car from the showroom or any other sellers
- Loan Against Car- you can avail of the loan by keeping the hypothecation of your existing car and fulfilling your fund’s requirements
Minimum Criteria Requirement for Auto Loan
- Age of 23 and CIBIL score of 650+ are basic requirements.
- For salaried circumstances, a person should be employed by a Pvt Ltd, LLP, Partnership firm, or sole proprietorship.
- A person shouldn't have missed or defaulted on any EMI payments in the previous 12 months.
Vehicle Loan In Ahmedabad
Since it’s a secured loan, it’s easier to avail of the loan for the salaried or Businessman without any hassle. Auto Loans or car loans can be availed with 90% to 100% funding on the on-road price of the vehicles. Car Refinance is the best option to transfer your existing Auto Loan into another bank for lower ROI. It is ideal whenever ROI has been decreased compared to existing ROI.
Auto Loan ROI & Charges
| Loan Amount | Rs. 5 lac- 10 Cr |
|---|---|
| Tenure | 1 Year – 8 Years |
| ROI | 7 % – 10 % (New car) & 11% to 14%(Used car) |
| Processing Fees | 0.50% -2% + GST |
| Foreclosure Charges | 4%+GST |
| Part Payment Charges | 2%+GST |
Document Requirement for Auto Loan in Ahmedabad
Document Salaried Person Self Employed ID Proof PANCARD PANCARD Address Proof Passport /Voter ID card / Aadhar card/ Driving License Passport /Voter ID card / Aadhar card/ Driving License Registration Proof Company ID Card GST Certificate / MSME Certificate/ Gumastadhara Income Proof Last 3-month Salary slip last 1 GST Return Banking Last 6-month Salary banking Last 6 months Current & Saving bank Ac statement ITR Form 16 Last 2 years ITR along with computation of income, Balance Sheet, and P & L Ac
How Moratorium Financial Services Will help you?
As a trusted Financial Service Provider, we will help clients to get an Auto Loan in Ahmedabad from various banks and NBFCs as we have connections with all the financial institutes and Banks and good relationships with them. We can provide faster smooth processes and expert services at the client’s doorstep anywhere in India.
Due to our vast experienced team and our expertise, we are able to provide Vehicle Loan in Ahmedabad as per customer’s requirements. we always suggest banks and NBFCs to clients accordingly to customer profiles and financial eligibility and we help Clients to get give the best offer from financial institutions. That will solve clients’ financial problems and our motto is “Not to lend but to help”.
Vehicle Loan in Ahmedabad
An Auto Loan is the best way to make your dream reality of owning a car. Auto Loan providers like Moratorium Financial Services assist clients to get an Auto Loan in Ahmedabad with ease.
Why Moratorium Financial Services for Auto Loan in Ahmedabad?
We have good connections with various financial institutions, so we provide Auto Loans at the lowest interest rates. Contact our experienced team and give yourself a chance to drive a car of your own. With our expert services of Vehicle Loan in Ahmedabad, you can avail yourself home without any hassle.
At Moratorium Financial Services, we provide loans for car, motorcycle, truck, and other vehicle financing. Apply for a Vehicle Loan in Ahmedabad today.