A Car Loan is a way for you to purchase a new or used vehicle. You borrow money from a lender and pay back over time, usually with interest. The amount you borrow is called the loan principal. The loan procedure has been greatly customized in order to make car loan look as attractive as the car. The documentation and approval process takes less than a day and in some cases on the spot approval is also possible.
DOCUMENTS REQUIRED FOR CAR LOAN
List of documents for Car Loan:
1. Proof of Identity:- Passport / Driving License / Voters ID / PAN Card (any one)
2. Proof of Residence:- Aadhar card Agreement / Utility Bill (not more than 3 months old) / Passport (any one).
3. Latest 6 months Bank Statement (where salary/income is credited).
4. Salary slips for last 3 months.
5. 2 Passport Size photographs.
6. Form 16 & Company id card
7. Relieving letter of old company & appointment letter of new company.
8. Car Quotation
Checking your loan options does not affect your credit score