The car is no longer a luxury but a necessity for the modern individual. Whether you are a salaried worker, self-employed, student, or retired, a car is a must-have for your daily life. Hence, a car loan to fund a dream drive is a logical step for many people. With the right loan in place, you can drive your dream car without any financial stress. Even more, as technology advances so do the car industry. New models and variants are released frequently in the market, making it difficult for car lovers to resist the temptation of purchasing a new car or upgrading to the latest and greatest. These luxurious new car models, accompanied by various financing schemes offered by LoanAxix's Banking and Financial Partners, make it easier to apply for a car loan with a car of your choice at the most attractive interest rates and flexible repayment options.
On-road price is the inclusive price of the car, including ex-showroom price, RTO, all applicable taxes, and first-year insurance premium on the purchased motor asset. Get 100% funding on the on-road price of your car with several leading lenders at LoanAxix at zero down payments.
Our top financiers at LoanzAxix provide pre-qualified loans with instant approvals, best interest rates, flexible repayment options, and much more without hurting your credit score.
The quick loan processing at LoanAxix will allow you to purchase your car on the go with minimal documentation and a simplified approval process to avail of loans 24/7 at ease and convenience.
We have lifted off those pesky fees that have been bothering the investors for a long time. Subject to conditions, our lenders at LoanAxix are willing to work your loan application without charging an extra fee for processing, pre-closure, or foreclosure.
You can discuss your prepayment options with our agents at LoanAxix before applying for the loan. Our agents will help you find lenders who will allow you to pre-close a loan, either after a specified time or whenever you want. The charges may or may not be applicable, as discussed before the disbursal.
There are several repayment alternatives you can choose from for an auto loan. Whether you are looking for a balloon EMI, regular EMI, step-up or step-down EMI, and special tie-up EMI, LoanAxix can arrange a lender for each.
With the best funding process, attractive ROIs, and flexible tenors of periods extending up to 7 years on new car loans and 5 years on used car loans, LoanAxix has been popular among investors looking forward to cutting down their costs and eventually their financial burden.
Save taxes on your car loans with LoanAxix India’s finest financial partners under the commercial usage of the vehicle.
The loan sanctioned on the vehicle can be up to four times the annual income of the borrower or the applicant.
Secured Loan: Secured loans offer the asset as collateral or security against the loan amount. The lender holds the authority on the asset and is liable to seize the asset if the borrower fails to pay his due amount on time.
Unsecured Loan: Unsecured loans unlike secured have no security or collateral that a lender might possess on your behalf but will be forced to go after the culpable borrower by other legal means if the payments are not made as agreed in the contract.
Direct Finance: Direct financing can be obtained directly from the lender without the help of a middleman or agent.
Indirect Finance: Indirect financing offers an agent or dealer acting as a middleman between the borrower and lender to ensure the loan is processed thoroughly and the process is smooth until the disbursal.
New Car Loan: As the name suggests, new car loans are obtained or sanctioned over a brand-new car purchased directly from the showroom or the dealer.
Used Car Loan: Used car loans are loans against pre-owned vehicles that have been used before and are being sold for the second or third time by the seller.
--> Refinancing Loan: Loan refinancing allows the borrower to save money by lowering their rate of interest by replacing an existing loan with a new one. Transferring the remaining balance on the loan to a different financier, the investor may benefit so with the switchover.
--> Top-Up Loan: Top-up loans are availed on the existing loan when the borrower may need additional finance over the existing one.
Age: 21 – 65 years (Conditions Apply)
Type of Employment: Salaried/Self-Employed/Business Owner(Govt, Large Enterprises, Etc.)
Nationality: Resident of India/NRI (Conditions Apply, Contact LoanAxix)
Income: Monthly Minimum ~ Rs. 20,000/- and above (Salaried/Self-Employed), Minimum ~ Rs. 2,00,000/- p.a onwards (Business Owners)
Credit/CIBIL Score: Any profile(Credit score ~ 650 or above has a higher chance of getting a quick and instant loan with high funding at lower interest rates)
Employment Stability: 1 – 3 years and above (With a stable income and continual flow of money)
Note: Documents requested may vary from lender to lender, contact LoanAxix for any inquiry.
Proof of Identity and Address – Voter’s ID/Passport/PAN Card or Form 60/Driving License/Aadhaar Card
Additional documents accepted for address proof include Electricity Bill/Ration Card, Copy of Utility Bill/Insurance Bond/Bank Statements/Income Tax Assessment Order/Property Registration documents/Pensioner Book/Property Tax Receipt/Employer Certificate
Income Proof Documents – Copy of latest three months’ salary slips/bank statements, Form 16 for salaried individuals, Copy of Income Tax Returns (ITR)/C.A certified Balance Sheet and Profit and Loss Statements along with business stability and ownership proof, Copy of Vehicle Registration Certificate, telephone or mobile bill, signature along with proof.