Car Loans - Offers
No income proof schemes
Upto 100% of ex-showroom price
Part payment available
Apply for Car Loan - How it Works
We have partnered with leading banks and NBFC's to provide you a comprehensive range of car loan options. Our unique matchmaking algorithm ensures that we match your requirements with available options and provide you the best results.
Offers are displayed sequentially to help you compare key features like interest rates, processing fees, tenure and features. So, you can make an informed decision.
Once you have compared and found the loan that is best suited to your requirements, you need to fill a detailed online application form. This is required to check your eligibility and process your application.
We also help you with end to end fulfilment, including documentation pick up and submission to the respective financial institutions. You can track the entire journey of your application by logging in to \"My Accounts\" section on the website.
Vehicle Finance FAQ
What are the most important eligibility criteria for car loans?
These loans are offered at attractive interest rates to both salaried and self-employed individuals who meet age and income eligibility criteria required by our lending partners. Salaried individuals should be between 21 and 60 years old and the minimum salary required is usually in the range of Rs 2.4 lakhs per annum and upwards. This will be determined based on your Form 16. You will also have to be employed with the organization for one year.
What are some important eligibility criteria for auto loans?
Salaried Individuals should be 21-70 years old and the minimum salary required is usually in the range of 2.4 lacs per annum and upwards. This will be based on your Form 16. You will also have to be employed with the organization for one year. We can help you get the best rate on your car loan in a few minutes
What the maximum amount I can avail of?
Car loans start from Rs 1 lakh onwards based on criteria such as your requirement and eligibility, your annual income, your repayment capacity and other outstanding financial obligations. You get up to 90% of the value of the car to be purchased.
What tenure can I apply for in my car loan application?
You can typically get approved for a tenure ranging from 12 to 60 months.
What type of vehicles or automobiles can I buy with my car loan?
Your car loan will cover the purchase of most passenger cars, SUVs (sports utility vehicle) and MUVs (multi utility vehicle). Car loans come with the condition that the vehicle is purchased for personal use. If you are purchasing a vehicle for commercial use, you can apply for a commercial vehicle loan.
What is the process of applying for a car loan?
You start your eligibility check and receive your loan approval online in a couple of minutes. Once your loan is approved, our executives coordinate with you to complete your application form along with necessary documents like income proof, identity proof and any other documents the selected lender requires. It takes approximately seven working days from application and receiving instant in-principle approval online to disbursal of the loan.
Do car loans require me to provide any security or collateral to the lender or bank?
Just like a home loan, your vehicle will be used as the collateral to secure your loan. When you take an auto loan your car or vehicle is hypothecated to the bank or lender for the period of the loan. So no other collateral or security is required to get an auto loan.
Can I sell the vehicle I have used a car loan to purchase?
Yes but you need to pay off your car loan and obtain a No Objection Certificate from the bank before you sell. This is mandatory because your car is hypothecated to the bank when you avail of the loan.
Will I be liable to pay any charges if my loan has been approved or disbursed but I cancel my plans to purchase the car or avail of the loan?
Rubique.com offers you a free in-principle approval for car loans. The eligibility check with your selected lender is done online at no cost to you. At the time of submitting the application and documents to the banks or lenders for loan sanctioning, they may apply fees as per their policies. Charges vary across lenders and we help you evaluate the best option for you before you make your selection when applying for a car loan on Rubique.com.
Do I need to pay any charges towards availing a car loan?
Rubique.com offers a free online eligibility check from banks and lenders you select. After you receive your in-principle approval, the selected bank or lender may apply processing fees for your loan application. We clearly mention fees and charges for each lender that you are eligible for so you can compare their fees and charges before choosing to apply.
We clearly mention fees and charges for each lender that you are eligible for so you can compare their fees and charges before choosing to apply.
Are there any charges applicable when I make a pre-payment towards my car loan?
Most lenders and banks allow you to make pre-payments towards your car loan although they may apply charges. Charges vary across lenders.
Are there any charges applicable when I foreclose my car loan?
You will need to pay all outstanding dues against your car loan before you foreclose it. Charges vary across lenders.
Can I get loan to purchase a used car?
Yes, most lenders do offer loans to purchase used or second hand cars. Interest rates on used cars and second hand vehicles are usually higher than those applicable when purchasing a new car.
Can I negotiate for better interest rates for my car loan?
It is in your best interest to get the lowest interest rate for your car loan. Interest rates vary across lenders and can be negotiated based on your credit history and your relationship with the bank.
What documents do I need to submit to get my car loan approved?
This depends on whether you have an existing relationship with the bank. Most lenders require a minimum of income proof, residence proof and identity proof to process your application.
What is the processing time required for a car loan?
When applying for a car loan on Rubique, you receive an instant approval. We then complete your application and get your loan disbursed within 7 days.