Get Your 'Wheels of Happiness' in 2023 with a Car Loan
Car prices are expected to rise from January 2023 to balance increasing input costs while abiding by more rigid emission standards, supposed to be effective in April 2023. Top automobile manufacturers like Tata, Maruti, Honda, Hyundai and many others have announced a projected hike in the prices of their products.
In this situation, what could be the best way to finance a new car of your favorite brand? It's not a good idea to drain your savings, keeping in mind the forecast price rise of automobiles. Instead, you can finance a car with a personal loan for this end-use.
From where can you get an instant car loan? Choose a reputed fintech lending company. The vehicle loan offered by it has various benefits and is easy and quick to get. Here's a look.
Benefits of a Car Loan
Flexible Loan Configuration
A flexible vehicle loan offered by a fintech lender helps finance cars of different price tags. So, you can easily select an amount that can cover the price of your chosen car. What's best, the lender's app shows various loan amounts suited to different repayment tenures and eligible salaries. You can also see whether the chosen amount and tenure align with your repayment capacity. Here's a look.
Picking the right loan figures can increase your chances of repaying the funds successfully.
Easy Eligibility Criteria
The eligibility criteria of a fintech vehicle loan are simple to help you qualify for it easily. For instance, you only need to be:
An Indian citizen
At least 18 years old
A salaried professional
Earning ₹15,000 or more monthly
Having a Facebook or a LinkedIn account
Simple Documentation
You must upload a few essential documents online when you finance a car using a loan. These documents are yours:
Photo identity proof (PAN Card)
Income proof (Latest salary slip)
Identity proof (Aadhar card)
Permanent address proof (accepted documents)
The latest bank statement showing your last salary credit
The easy digital documentation simplifies the application procedure and makes it paperless and hassle-free.
How to Apply for a Car Loan?
You can apply for a vehicle loan from a fintech lender in just a few quick steps as follows:
Start with downloading the loan app on your iOS or Android device.
Create your profile on it by uploading your basic details and documents.
If these are verified, choose a suitable tenure and loan amount.
Once your loan request gets approval, the funds will be disbursed to your linked bank account in minutes.
Conclusion
After you take a loan to finance a new car, pay the EMIs regularly and on time. For that, a fintech lender offers various payment options like IMPS, NEFT, and automated bank debits.
Comments
Post a Comment