Car Loan Refinancing- refers to replacing your existing auto loan with a new auto loan from a different lender. Car loan refinancing can help you get access to favourable repayment terms even when a loan is already in progress. When you choose to go for refinancing, you will get a loan with new features, benefits, and terms.
Repayment Period: Maximum 5 Years depend upon the Vehicle Registration date*.
Processing Fees: Upto 50 % waiver on processing fee.
The indicative interest rates mentioned on the website only pertain to loans availed for cars which are for personal use. For loans for cars which are not for commercial use, interest rates may differ.
You need to submit the following documents for processing your application
Find out more about the features & benefits of our Car Refinancing Loan below.
You are eligible to avail a refinance car loan if you meet the below criteria
Carnloan is a one-stop solution for all your car finance needs. We have partnered with India’s leading banks and NBFCs to help you get a loan to purchase your dream car. We provide you with door-step assistance making the process hassle-free and quick. Just fill the form, check your eligible quotes from our partners and submit the application with us. We will take care of the rest.
We provide offers starting from 6.50% per annum. Your exact rate of interest will be determined by the lender on the basis of your loan application. Lenders generally charge you with a processing fee directly deducted from your car loan amount. The processing fees can be negotiated with the lender at the time of sanction of your application.
Most lenders offer car loans for tenures ranging from 1 year to 5 years. You can choose the loan tenure as per your preference. Some lenders also offer a car loans with tenure upto 7 years.
To process your new car loan application with the selected lender, you would be required to submit your KYC documents, which include your identity proof and current address proof, a copy of your PAN Card, your bank statement and your income proofs. You can get the exact requirement from your loan consultant after applying with us.
The maximum loan amount offered by most lenders is 80% to 90% of the valuation price of the car. This can vary with the brand and variant of your chosen car, your income is also a determinant of the maximum loan amount you are eligible for. Most banks have a minimum income requirement you need to meet in order to get approved for the loan.
Now apply for a Car Loan online, All you need to do is provide your details below application form.