An auto loan is a type of financial arrangement specifically designed to assist individuals in purchasing vehicles, such as cars, motorcycles, boats, or other modes of transportation. This loan enables individuals to acquire a vehicle by borrowing money from a lender, typically a bank, credit union, or financial institution.

Benefits Of Auto Loan

• Purpose: A car loan assists in buying either a new or a pre-owned vehicle.
• Financing: Lenders typically offer 90% to 75% financing for new and used cars respectively (sometimes up to 100% for specific models).
• Loan Duration: Car loan tenure ranges from 1 to 7 years.
• Quick Financing: Eligible candidates can often receive instant loan approval from most lenders.
• Dealer Tie-Ups: Banks collaborating with dealers or manufacturers may provide discounts to borrowers buying from these specific sources.

Different types of auto loans in india

• New Car Loan: Borrow for purchasing a brand-new vehicle, offering diverse loan options, competitive interest rates, and associated benefits.
• Pre-owned Car Loan (Used Car Loan): Access financing for buying second-hand vehicles, generally at lower funding levels compared to new car loans.
• Loan against Car: Secure loans without collateral for new or used cars, ranging from 75% to 100% financing, minimal documentation, attractive interest rates, and no foreclosure charges.

Differentiating Factors

• Promotional Offer for Electric Vehicles: Some lenders offer concessions on interest rates to promote Electric Vehicle purchases.
• Documentation and Interest Rates: Minimal documentation, attractive rates, and no foreclosure charges for loans against cars.
• Comparison of New vs. Used Car Loans: Evaluate new and used car loans, offering competitive rates, repayment periods up to 7 years, and considerations for higher credit scores for interest rate adjustments.

Why Choose Aadeeshwara ?

• Competitive Rates: We provides competitive interest rates for auto loans, ensuring affordability.
• Flexible Options: Tailored loan options to suit individual needs and preferences.
• Quick Approval: Swift approval processes ensure faster access to funds when purchasing a vehicle.
• Transparent Practices: Our prioritizes transparency in terms, conditions, and processes related to auto loans.
• Expert Guidance: Professional guidance and support throughout the loan application process for clarity and assistance