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Finance Your New Car Easily with Our Car Loan Options
Secure a Car Loan Option with the Lower Interest Rates in the Market, designed to help you finance your new car purchase affordably.
Apply for Car loan in Hyderabad
Hyderabad, the capital of Telangana houses the winter office of the President of India. the city has emerged as a hub for pharmaceuticals and biotechnology. A HITEC City and special economic zones have encouraged multinationals to start operations in this city. On the automotive front, Hyundai Motor Company, Fiat Chrysler Automobiles, and Maruti Suzuki have manufacturing, marketing, and assembling units in Hyderabad. Electric Vehicle (EV) giant Triton recently started manufacturing operations in Hyderabad. More than 60 lakh personal vehicles ply the streets of the city, which takes the tally of registered vehicles up to well over 2.7 million.
Quite a lot of upwardly mobile Indians are in the quest to own cars to travel in comfort. The years of saving and waiting to secure a new car are ended. Ruloans, a one-stop shop for hassle-free New Car Loans in Hyderabad has taken the initiative to take your new car dream inside your clutch. Ruloans has affiliated with reputed banks and NBFCs, and offers you New Car Loans up to 100% of the on-road car worth at efficient interest rates, for tenures extending from 1 year to 7 years. Come home to your dream car; Ruloans will get you a hassle-free New Car Loan in Hyderabad.
Features and Benefits of a New Car Loan in Hyderabad
A new car loan at Ruloans requires only a simple application with easy eligibility and minimal paperwork. You may avail of several new car loan features and benefits ranging from low-interest rates to flexible repayment tenures, balance transfers, top-up loans, and more. A New Car Loan in Hyderabad at Ruloans can afford you your dream car.
High-Value Auto Finance
Our partner banks and NBFCs offer the best in terms of car finance. At Ruloans you are empowered to avail a high-value New Car Loan of up to 100% of the On-Road Car Price. Your car dreams are highly valued at Ruloans.
Cost-effective Interest Rates
Interest rates offered by our partner banks and NBFCs on New Car Loans are the lowest rates offered by financial institutions. Our new car loan offers are surprisingly cost-effective funds, which help keep the cost of your car loan in control.
Flexible Repayment Tenure
Our partner banks and NBFCs are the best who offer the best in terms of value for money in the face of tough and volatile financial market conditions. This gives you the chance to gain from the flexible repayment tenures that range from 1 year to 7 years.
Balance Transfer Facility
A New Car Loan Balance Transfer involves the transfer of the entire balance amount of your outstanding car loan to another bank from your current bank. Take advantage of this facility when you have better offers.
Top Up Loan
A New Car Loan Top Up offers you the option to borrow more funds over and above your current car loan amount. The amount will depend on several factors that determine your creditworthiness. Feel free to opt for a top-up when you feel the need for more funds.
Quick Disbursal
Ruloans’ 24/7 Digital Resources make the car loan process pretty easy and simple for a loan seeker. Our New Car Loan process with easy eligibility and minimal documentation will astonish you. With your car loan approved and disbursed quickly, you’ll be in your dream car earlier than you thought.
Eligibility Criteria for a New Car Loan in Hyderabad
Eligibility criteria refer to the parameters that determine your qualification for a loan. New Car Loan eligibility depends on various factors that define your entitlement to a new car loan. The parameters are common to most banks and NBFCs, but a few may vary according to individual lender requirements. Eligibility criteria play an important role in deciding the rate of interest, tenure, etc. Eligibility criteria for a New Car Loan in Hyderabad are listed below.
Age
Your age should be minimum of 21 years, and a maximum of 68 years at Loan Maturity
Nationality
You should be a Resident Citizen of India without having defaulted on any previous loans and without any Criminal Record
Credit Score
Your credit score should be 650 or higher
Eligible Entities
If you’re a salaried individual, you should be working with a Private Limited Company, or a Public Limited Company. As a self-employed person, you should be a Proprietor, Partner, or Director. Partnership or Private Limited Companies engaged in manufacturing, servicing, or trading are eligible for New Car Loan
Income
As a salaried person, you should have a salary of Rs.25,000. As a self-employed individual, your gross annual income should be a minimum of Rs.3 lakh. A firm or a company requires an annual turnover of a minimum of Rs. 10 lakh
Work Experience or Business Vintage
You should have a minimum of 1-year of experience with your current employer as a salaried person. If you are a self-employed person, you should be in the same business for the last 3 years. As Professional CA, CS, or Doctor, you need a minimum of 1-year practice. A firm or a company needs business stability or vintage of a minimum of 3 years in the same business.
Note: The above eligibility criteria are for indicative purposes only, and can vary from lender to lender.
What are the Documents Required for a New Car Loan in Hyderabad
We at Ruloans are enthusiastic about making your New Car Loan process a smooth and convenient affair. Documents essential for a New Car Loan are minimal. We request you to furnish specific facts and credentials so that your New Car Loan application can be processed in the shortest possible time. Documents required for a New Car Loan in Hyderabad are listed below.
Documents Required
For Salaried Person
- Identity Proof (Like Aadhar card, pan card, etc.)
- Address proof such as electricity bill, passport, aadhaar card, etc.
- Latest 1 year Bank Statement of Savings Account
- Income Documents like 3 months' Payslips along with one-year Bank statement of salary account.
- Last 2 Year Form 16
- Proforma Copy
For Self-Employed Person (PROPRIETOR)
- Identity Proof (Like Aadhar card, pan card, etc.)
- Address proof such as electricity bill, passport, aadhaar card, etc.
- Latest one-year bank statement
- GST certificate
- Latest two-year ITR Full Set
- Proforma Copy
For Self-Employed Individuals (PARTNERSHIP FIRM)
- Pan Card of Partnership Company
- Address Proof of Office (Latest Light Bill or Registered Rent Agreement with Owner Name Light Bill)
- Pan Card and Aadhaar Card of all Partners
- Partnership Deed
- Current Residence Address Proof of all Partners (Aadhaar Card Mandate)
- GST Certificate (Complete 3 Pages)
- Last 2 years ITR Full Set of the Company with the Audit Report, and 3CB and 3CD
- Last 2 years ITR Full Set of Partners
- Latest 1 year Bank Statement of all Current Accounts and OD Account if any
- Latest 1 year Bank Statement of all Partners
- All Loan Sanction Letters with Repayment Schedules
- Statement of Account (If Car on Loan then Statement of Account required)
- Proforma Copy
For Self-Employed Individuals (PVT LTD COMPANIES)
- Pan Card of Company
- Address Proof of Office (Latest Light Bill or Registered Rent Agreement with Owner Name Light Bill)
- Pan Card of all Directors
- Current Residence Address Proof of all Directors (Aadhaar Card Mandate)
- MOA and AOA of Company
- CA Attested List of Documents and Shareholding Pattern
- GST Certificate (Complete 3 Pages)
- Last 2 years ITR Full Set of Company with Audit Report, and 3CB and 3CD
- Last 2 years ITR Full Set of Directors
- Latest 1 year Bank Statement of all Current Accounts and OD Account if any
- Latest 1 year Bank Statement of all Directors
- All Loan Sanction Letters with Repayment Schedules
- Proforma Copy
Note: The above documentation requirements are for indicative purposes only, and can vary from lender to lender.
How to Apply for a New Car Loan in Hyderabad?
1
Online Application
Fill out your ‘Basic Details’
2
Document Submission
After you receive your 'New Car Loan Eligibility', choose your 'Financial Institution', and upload 'Required Documents'
3
Verification
The Institutions will 'Verify' your New Car Loan application, and submitted documents
4
Approval
Your New Car Loan will be 'Sanctioned'
5
Disbursal
Receive your 'New Car Loan Amount' in your Bank Account - Simply Efficient!