car loan
car loan :Whether you are eligible for a car loan or not can be checked very easily. If you are eligible? So how much loan you can get can also be known easily. So let's first know about the eligibility of car loans, who can get a car loan, and what are its criteria.
Who can get a car loan?
Different banks and lending companies have their own terms and conditions regarding car loans. And, according to them, they give car loans. According to the information available on Paisabazaar.com, the age of the car loan borrower should be at least 18 years and a maximum of 75 years. The minimum monthly income of the borrower should be Rs 10,000. Apart from this, it is mandatory for the borrower to stay in his current residence for more than one year.
This is general information. Apart from this, all banks have their different eligibility criteria, on the basis of which they offer car loans. But, the eligibility criteria of most of the banks and car loan companies are covered in the above information.
How much loan can I get?
How much loan can I get? There is no concrete parameter for this. It depends on the policy of the bank and the lending companies that how much loan is to be given to any customer.
Apart from this, banks and lending companies also have tie-ups with car companies, which also determines the loan limit. For example, let us tell you that at present, up to 100% of the on-road price of the Hyundai Santro is being financed. However, finance up to 70-90 percent (-showroom price) is usually done.
How to check?
You get a 'Car Loan Eligibility Calculator' on the website of every bank or car loan company. Where you can check how much loan you can get.