Apply for a Car Loan

Offering you an instant Car loan with minimal documentation

Documentation is an unavoidable part when your application for the applied loan is in process or almost complete. Therefore, if you are relying much on some bullet schemes that assure you to sanction your Car loan with no documentation, then never trust them. Rather, you must choose LOAN On-time and we will be helping you avail the benefits of the chosen loan at lesser hustles.

Undoubtedly, all your dreams and desires regarding your favorite cars must never be ignored. This is because they can’t only make your trips memorable but also help you commute well amongst the pre-planned places.

And here, a Car loan application form available offline or online will really save you. If you are getting all this, then it’s high time to know about the eligibility criteria and documentation involved through which you can get your beloved cars at your doorsteps.

Some of the untouched aspects of a Car loan impacting our lives

Still, thinking why you need this utility [car or any vehicle] within a certain period? The sole purpose is to enhance the quality of your lifestyle for better growth and standard-of-living.

And why not you must think of how and when to Apply car loan so this can offer instant and quick responses regarding your real-time difficulties on debts or expenses.

Therefore, there is nothing bad in knowing those untouched aspects revolving around a Car loan chosen by you as per your estimates and capability to pay its EMIs. Moreover, all these aspects will let you hit the roads with much confidence and cover extra miles – without giving a thought to the number of passengers supported by the vehicle.

Aspect # One – Take complete control over your money

Though money can really not buy happiness, yet it can propose your value in front of your office people or relatives. Whether you are a business owner or an employee, this type of Instant loan online available has the utmost potential to bring your chosen car to doorsteps.

All you have to do is pick the EMI plan which won’t be disturbing your savings on a major scale. Undoubtedly, you will be thinking about a Car-Loan feasibly availed at low interest rate. In this manner, you will now be controlling your hard-earned money because now, the financial institutions suiting your preferences will now be managing the expenses of the car you have decided to purchase with some conditions. But still, the control is in your hands – you aren’t bound to pay the amount in one go.

Aspect # Two – Praiseworthy repayment period

Many of us might not be aware of the fact that the repayment period for the loan, which can help you get your dream car – either Sedan or hatchback [a utility vehicle], is seven [7] years maximum. Whether you have taken a Loan at low-interest rates or higher, this amount of time is enough at which you can pay the EMIs at lesser stress.

Therefore, the tenure isn’t only praiseworthy but also convenient as the schemes of repaying this loan have solved the worries of top-notch business experts, investors, and employees having years of experience in their relative fields.

Aspect # Three – Zero Down payment option

Zero Down payment option has clarified all the confusion regarding the loans you have opted to get an in-demand car. This means that there is no urgency in paying the entire amount for an Instant Car Loan Online or offline.

Rather, the financial institution you have selected will be handling all the related expenses – you won’t be rescheduling your payment activities as no costs are there till the car is at your doorsteps.

So, if you are a first-time car buyer and willing to accept such Online quick cash loans, there is no harm in that as this will be enhancing the standard of your living in controllable estimates.

Eligibility Criteria and Documentation Process of a flexible Car Loan

  • After reading the untouched aspects of a Car loan, you should now be taking a look at the eligibility criteria through which you can make your dream come true by getting the car you and your family members like the most.
  • Age shouldn’t be lower than 21 years and if age is more than 60 years old, even then, you aren’t eligible.
  • Monthly Salary: Rs. 25000 per month or Rs 300000 annually.
  • You must be doing a job for atleast a year in the same organization and a minimum of 2 years in the corporate field – if you are a salaried individual. Note: In case you are a self-professional, then you should be showcasing business continuity for 2 years [min].
  • You should own a Smartphone/ telephone along with a passport-sized photograph for identity verification.
  • Repayment track record of a minimum period of 11 months.
  • ITR for an amount Rs. 250000 is required if you are a self-professional.
  • Since the eligibility criteria is known, it would be better to know about the documentation required for an Online car loan whose application you may apply in instant ways.

     car loan
    We Require Documents for Salaried Employees
  • Salary slips of the last three months and account statements for six months of your chosen bank.
  • Address Proof like PAN Card, Aadhar Card, or a passport.
  • A few passport-sized photographs.
  • Form 16 - which can present your income status.
  • Your latest acknowledged Income Tax Return – ITR.
  • We Need Documents for Businessmen

    An application form for your car loan duly signed and available at the bank’s outlets.

    Identity Proof like Voter Id, PAN Card [mandatory], or a Driving License.

    An Address Proof which may be like Ration Card, Water, or Electricity Bills. Note: You may also provide Property Tax documents here.

    Passport-sized photographs [generally three to four] along with age proof such as a birth certificate or class 10 certificate.

    How much time financial institutions take to disbursing Car loans?

    Generally, financial institutions can disburse your approved Car loans in a span of one-hundred and twenty business days. However, you may expect the loan disbursed within 48 hrs or two business days.

    How can you repay your Car loan?

    Repaying your Car loan may become hectic if the EMIs aren’t paid as per the guidelines released from the financial institutions. No matter if you are refinancing your loan but you should never skip the payments at appropriate intervals.

    Is this feasible to pre-pay the sanctioned Car loan?

    Prepaying your sanctioned Car loan must be done as per the seasonal windfall. Here, the meaning of seasonal windfall is tax-paying seasons or bonus season. So, if you are low on paying EMIs, you must not be prepaying it as this can negatively impact the credit score. Otherwise, prepayment options always save your interest.