Vehicle Loan

Home  »  Vehicle Loan
slider_img1

What is the Minimum and Maximum amount for a Vehicle Loan ?

It varies from Vehicle to Vehicle and Customer Credentials. Loan Amount Range varies from Rs. (INR) 50,000/- to Rs. (INR) 25,00,000/-

What are the various stages involved in availing Vehicle Loan ?

Various stages involved in availing Vehicle Loan are as follows :

  • Complete Application Receipt
  • Document Processing
  • Loan Sanction
  • Loan Disbursement

Who can apply for Vehicle Loan ?

  • Individuals :
    • Professionals : Salaried Individuals aged between 18 Years to 58 Years (at the End of Loan Tenure)
    • Self Employed : Aged between 18 Years to 65 Years (at the End of Loan Tenure)
  • Entities
    • Proprietorship, Partnership Firms, LLP’s, Pvt Ltd, Ltd etc
    • HUFs and Trusts

Is Vehicle Loan available for Total Cost of the Vehicle i.e. 100% Financing ?

Vehicle Loan is available upto 90% of the Vehicle Cost.

Is Loan also available for Second Hand Vehicles ?

Yes.

Do you provide Commercial Vehicle Finance / Loan ?

Yes. Klariti TaxCorp LLP provides attractive finance/loan solutions for all types of personal vehicles and commercial vehicles. All personal vehicles i.e. small, medium and premium personal cars, Jeeps, Sports Utility Vehicles (SUV’s), Multi Utility Vehicles (MUV’s), Commercial Vehicles (Trucks, Buses), Construction Vehicles (Earthmovers, Forklift, Paver etc), Material Handling Vehicles/Equipment, Specialised Vehicles etc are financed.

Does CIBIL score matter when it comes to Vehicle Loan ?

Yes. A good (high) CIBIL Score and Clean Credit History is very important. All lenders refer to CIBIL score before making a final decision on Vehicle Loan. CIBIL Score can be a Deal Maker or a Deal Breaker.

What is the approval time for Vehicle Loan ?

Two Days (working days) i.e. 48 hours after Complete Document Submission by Client.

What is the Tenure for Repayment of Vehicle Loan ?

Vehicle Loan Repayment Tenure is 5 years (60 months) maximum. It depends upon the amount of loan, client credentials and terms of agreement with the lenders.

Do you need any Collateral Security for Vehicle Loan ?

No Collateral Security is required. Stress Free Finance Options for our Clients.

Are there any Hidden Charges or Additional Charges for Vehicle Loan ?

There is no Processing Fees by Klariti TaxCorp LLP for processing Vehicle Loan cases. Also, there are Zero Hidden Charges for Loan Processing.

What are the Documents Required to obtain Vehicle Loan ?

for Salaried Professionals

ID Proof (any one)

  • Passport
  • Driving License (DL)
  • VoterID
  • PAN Card
  • Aadhaar Card

Residence Proof (any one)

  • Utilities Bill (Water/Electricity) – latest
  • Ration Card
  • Passport
  • Rent Agreement (notarized)
  • Bank Statement (where salary/income is credited)

Income Proof

  • Salary Slips (for the last three months)
  • Income Tax Returns (last three years)
  • Investments (FD, Shares, Assets etc)

Photographs :

  • Latest Passport Size Color Photographs

for Self Employed / Entrepreneur

ID Proof (any one)

  • Passport
  • Driving License (DL)
  • VoterID
  • PAN Card
  • Aadhaar Card

Residence Proof (any one)

  • Utilities Bill (Water/Electricity) – latest
  • Ration Card
  • Passport
  • Rent Agreement (notarized)
  • Bank Statement (where salary/income is credited)

Office Address Proof

  • Rental Agreement / Property Proof of Ownership

Income Proof

  • Audited Financial Statements (last two years)
  • Bank Statements (last six months)
  • Proof of Continuity of Business
  • Tax Returns (last three years)
  • Investments (FD/Shares/Assets etc)

Photographs :

  • Latest Passport Size Color Photographs

Can I Pre Pay the Vehicle Loan ?

Yes. It is possible to pre pay the loan after completion of LockIn Period, which is usually 6 months.

Do I need a Guarantor for availing Vehicle Loan ?

No. Guarantor is not required for availing Vehicle Loan. In case, you are unable to meet any specific eligibility criteria of the lender, then a guarantor may be required, to fulfil the Credit Worthiness of your Vehicle Loan Application.

What is the Time Frame in which I can repay the Vehicle Loan ?

1 Year to 8 Years.

Are there any Hidden Charges or Additional Charges for Vehicle Loan ?

There is no Processing Fees by Klariti TaxCorp LLP for processing Vehicle Loan cases. Also, there are Zero Hidden Charges for Loan Processing.

Can I obtain favourable Loan Interest Rate ?

At Klariti TaxCorp, we will provide you with attractive Vehicle Loan Interest Rates.

Do I need a guarantor while applying for a car loan ?

Most banks do not ask for a guarantor in case of both new and used car loans but if your income doesn’t meet the set eligibility criteria, the bank may require you to involve your parent or spouse as a co-applicant.

Can I sell the Vehicle before complete repayment of the Loan Amount ?

Vehicle cannot be sold by the Borrower before No Objections Certificate (NoC) from the Lender.

Why should I avail Commercial Vehicle Loan from Klariti TaxCorp ?

  • Attractive Interest Rates
  • Transparency. No Hidden or Extra Charges
  • Simple & Easy to Understand Documentation
  • Fast Loan Processing : Approval & Disbursement
  • Loans for Longer Time Duration
  • One Point Contact – Dedicated Relationship Executive