About Car Loan

A car loan is a great way to drive your dream car without making the complete payment upfront. You don’t need to wait for some more months or years to buy your dream car as you can take a car loan to meet your fund requirement.

This is an asset financing product with the asset financed serving as security for the borrowing. The desired target market is individuals or organizations with existing income inflows or employees backed by regular salary payment.

This loan can be for personal and commercial use and can be used for purchasing a motor vehicle or financing of an asset.

If you take out Advania Group loan for your car, and another lender offers you a like-for-like unsecured loan with a lower APR, you can claim under our guarantee – within 30 days of the date we signed your loan agreement.

We’ll reduce the interest rate to produce an APR equal to the competing offer and recalculate your monthly repayments to reflect the reduced interest rate.

It’s quick and easy to apply and, if your loan application is approved and you’ve signed your loan agreement online, the money is usually transferred to your current account straight away. This could give you more bargaining power in the showrooms and forecourts, as you’ll have the cash to hand.

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Driving a better deal with a loan

When it comes to buying your next car, knowing you’ve got the money in your back pocket can help you get a better deal.

Repaying your loan early

You have the right to repay your loan early, in part or full, at any time.

We’ll charge a fee equal to 30 days’ interest on the amount you’re repaying, as well as any other interest that’s due.

Discover your loan rate before taking that test drive

Knowing how much you can borrow really helps when hunting for a new or used car. And unlike some other lenders, in many cases we can give you a personalised price quote up front – with no impact on your credit score.

Pre-Owned Car Loan

Advania Group offers pre-owned car loans up to 80% on the valuation of the car. With attractive interest rates and loan tenure up to 5 years, Advania Group Car Loan makes it possible to own wide range of certified/pre-owned cars quite conveniently.

When you apply?

Once your loan has been approved, you may have the option to complete your application online without the need for paper documents.

Alternatively we will post the loan agreement for you to review, sign and return.

Get financing for whatever you need now

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Features of Car Loan

Attractive car loan plans

At Advania Group, new car loan is available for most passenger cars and multi-utility vehicles manufactured by various automobile companies worldwide.

Imported cars are financed on a case-to case basis. You can drive home your favorite car with a small down payment.

Transparent interest rates

We offer attractive and transparent new car loan interest rates adhering to the best market practices. We assure you the best services and a good deal at the time of availing the loan. The lending rates are dependent on various factors including cost of funds, customer credentials, asset, tenure and discounts offered in the market.

Flexible tenure

At Advania Group, we have flexible loan tenure. The tenure of our car loans is from one year to five years. The tenure can be extended to seven years for select models.

Hassle free loan disbursement

Loans are generally approved within 24-36 hours of submission of complete documentation. In addition, no collateral needs to be provided, apart from the car against which the loan is granted.

Car Loan - Eligibility

You need to prepare a check list of all the documents required  based on your source of income as a salaried individual or a self-employed individual or a non-individual. You need to check if you satisfy the age and income criteria. You also need to check if you satisfy the employment and business criteria.

With copies of all the documents in your hand you are now ready to apply for a car loan from Advania Group.

Age

Maximum age of applicant at loan maturity: 60 years

Income

Minimum Net Monthly Income: $400

Bank Account

Applicant should have a bank accpunt with Advania Group.

Frequently Ask Questions

Yes, car loan is offered for pre-used cars. But, the interest rate for such a loan would differ from that of a new car. However, the loan would only cover the price of the car itself, other costs as transfer of registration, etc. will have to borne by you.

Just as the name suggests, a car loan is a loan granted to an individual interested in buying a car. Therefore a car loan is a secured loan where the car you buy acts as a collateral. Therefore, there is no additional collateral requirement for a car loan. However, you do have to get the RC (registration certificate) of the car endorsed with the bank. This endorsement is cancelled after repayment of the loan is completed.

Like any other loan that you apply for, a car loan application requires self attested supporting documents such as income (last three pay slips/last acknowledged ITR), address and identity proof documents along with you Passport copy or National ID. Other documentation requirements, if any, tend to differ from one lender to another.

The tenure of a car loan ranges from 1 year to 5 years. The shorter the loan tenure, the higher is the EMI payable and the reverse is true for longer car loan tenures. Currently, a small number of lenders are engaged in providing car loans for longer durations of up to 7 years.

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Now apply for a Car Loan online, All you need to do is provide your details below and you get started.



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