 3 (2)-1758084631816.avif)
Car Loan
Car Loan
Drive home your dream car with Laxmi India Finance Ltd. (LIFC) Car Loan. Whether you're looking to buy a brand-new car or a pre-owned one, we offer affordable financing, flexible repayment options, and quick approvals. Our car loans are designed to suit salaried professionals, self-employed individuals, and business owners, making car ownership easier than ever.
Features & Benefits
High Loan Amount:
Get up to 90% financing of the car’s on-road price.
Flexible Loan Tenure:
Choose a repayment period from 6 to 48 months.
Attractive Interest Rates:
Competitive rates with low EMI options.
Quick Loan Approval:
Fast processing with minimal paperwork.
Financing for New & Used Cars:
Loans available for both brand-new and pre-owned vehicles.
No Additional Collateral:
The financed car itself serves as security.
Special Schemes for Salaried & Self-Employed Individuals:
Tailored loan offers based on income profile.
Prepayment & Foreclosure Options:
Easy loan closure with minimal charges.
Top-Up Loan Facility:
Additional funds available for existing customers.
Eligibility
To apply for a Car Loan, the following eligibility criteria must be met:
Age
- Salaried individuals: 21 – 60 years (at loan maturity).
- Self-employed individuals: 21 – 65 years (at loan maturity).
Employment Type
- Salaried professionals working in private, government, or corporate sectors.
- Self-employed individuals, business owners, and entrepreneurs.
Minimum Work/Business Experience
- Salaried: At least 1 year of employment.
- Self-employed: At least 2 years of business continuity.
Credit Score
- A minimum CIBIL score of 650+ is preferred.
Income Proof
- A stable source of income is required for loan repayment.
Documents Required
Identity Proof
Aadhaar Card / PAN Card / Voter ID / Passport
Address Proof:
Aadhaar Card / Utility Bill / Rent Agreement
Income Proof:
Latest 3 months' salary slips & bank statements
Employment Proof
Offer letter or employment certificate
Car Quotation or Invoice
(for a new purchase)
Photographs
2 passport-size photos
Vehicle Loan Calculator
Use our Vehicle Loan Calculator to estimate your monthly installments based on:
Total Amount Payable:
₹15,85,809
Total Interest Payable:
₹5,85,809
Car Loan FAQ?
Frequently Asked Questions
Salaried professionals, self-employed individuals, and business owners can apply.
Customer Support:
Email: