Today having a car is not a dream but necessity. Are you Dreaming of owning a car? We at Bitola Capital aims to ensures that you drive around the city in your own vehicle! With help of us, you can ride home your dream car in a short period of time at best interest rates. Before applying for a car loan online, make sure to use the car loan calculator to find out your EMI. Apply for a Car Loan and make your dream of owning a car come true.
Here is the checklist of the documents required to apply for a car loan:
- Proof of age
- Identification proof
- Application form
- Passport size photograph
- Proof of residence
- Income proof
- Bank statement
- Signature verification proof
- Pro-forma Invoice or Rate List
Yes, a car loan is offered for pre-used cars. But, the interest rate for such a loan would differ from that of a new car. However, the loan would only cover the price of the car itself, other costs as transfer of registration, etc. will have to borne by you.
The maximum loan amount approved may vary from one bank to the other.
Like any other loan that you apply for, a car loan application requires self attested supporting documents such as income (last three pay slips/last acknowledged ITR), address and identity proof documents along with you PAN card. Other documentation requirements, if any, tend to differ from one lender to another.
Though most lenders do not specify a minimum salary requirement, your loan application may be rejected in case your salary does not exceed a predetermined threshold level as required by the internal requirement of the bank. In such cases applying with a co-borrower might be a better idea to increase your chances of successfully applying for a car loan.