Auto Loan

Introduction
Auto Loan is a secured loan offered by banks and financial institutions to help individuals purchase a new or pre-owned vehicle. Since the vehicle itself is used as collateral, loans are easier to avail and come with affordable interest rates and flexible repayment options.

• Buying a brand-new car

• Purchasing a pre-owned/used car

• Refinancing an existing car loan (in some cases)

Key Features:

• Secured loan with the car as collateral

• Up to 90–100% financing of the car’s on-road price

• Flexible repayment tenure (generally 1–7 years)

• Affordable interest rates compared to unsecured loans

• Quick approval and fast disbursal