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Car Loan

Drive home a new or pre-owned car.

A car loan pays for most of a new or used car, with the car itself as security. You pay the rest as a down payment and repay the loan in monthly EMIs.

  • New or used

    Finance for new cars and pre-owned ones.

  • High funding

    Borrow a large share of the on-road price.

  • Terms up to 7 years

    Choose an EMI that suits your budget.

Interest Rates, Processing Fees & Other Charges

Interest rate
8.75%–17% per annum
New cars from the lower end; used cars and top-ups usually 13%–17%. Subject to lender approval and eligibility.
Processing fee
0% to 2%
Depending on the lender and loan terms.
  • Other charges: Additional applicable charges, if any, will be disclosed by the concerned bank/NBFC before loan acceptance.
  • Eligibility: Approval, interest rates and charges depend on the lender’s policies and the applicant’s eligibility.

Disclaimer: MONEYYHEIGHT facilitates access to car loan, used car loan and car loan top-up options. The final loan terms, interest rate, processing fee and other applicable charges are determined by the concerned lender. Loan approval is not guaranteed.

How it works

  1. 01

    Tell us what you need

    A minute on the form — no documents yet.

  2. 02

    We call you back

    An advisor checks your eligibility and explains your options.

  3. 03

    Apply with the right lender

    We help with the paperwork and follow it to disbursal.

Who can apply

  • Salaried and self-employed individuals aged 21 to 65
  • A steady income and a fair credit history

Documents you'll need

  • PAN card and Aadhaar
  • Salary slips for the last 3 months
  • Bank statement for the last 6 months
  • The car's quotation or proforma invoice

Questions people ask

Can I get a loan for a used car?

Yes. The amount depends on the car's age and value.

Who owns the car during the loan?

You do, with the lender noted on the registration until the loan is repaid.

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