Drive Home Your Dream Car
Easy car loans with affordable EMIs and quick approvals.
New Car Loan Overview
A New Car Loan helps you finance the purchase of a brand-new car with flexible repayment options. Borrowers can choose from a variety of tenures and benefit from competitive interest rates.
Features and Benefits of our New Car Loan
- Loan amount up to 100% of the car’s on-road price
- Flexible repayment tenure from 12 to 84 months
- Quick approval and minimal documentation
- Option for both salaried and self-employed individuals
New Car Loan Eligibility and Documents
Read on to know the criteria required to apply for our Car Loan.
New Car Loan Eligibility
- Applicant Age: 21–60 years
- Salaried Individuals: Minimum 1 year of employment with proof of income
- Self-employed Individuals: Minimum 2 years of business continuity with ITR
- Credit Score: 700+ preferred
Documents Required to Apply for New Car Loan
- Identity Proof: Aadhaar / PAN / Passport
- Address Proof: Utility Bill / Voter ID / Passport
- Income Proof: Salary slips / ITR
- Bank Statements: Last 6 months
- Car quotation from dealer
- Passport-size photographs
Fees and Charges for New Car Loan
| Particulars | Charges |
|---|---|
| Loan Processing Fees | 1% – 2% of loan amount |
| Documentation Charges | As applicable |
| Foreclosure / Prepayment Charges | Applicable |
New Car Loan Reviews
I always wanted my car loan from a nationalised bank, but the visits were a hassle. Taurus arranged it smoothly from Saraswat Bank without me stepping out.
Rohit Sharma
With so many lenders, I was confused. Taurus compared banks and NBFCs and helped me pick the right option easily.
Neha Bansal
My CIBIL was hit due to Covid. Banks rejected me, but Taurus guided me to the right NBFC and I got my loan approved.
Manish Gupta
I wanted the lowest EMI. Taurus compared multiple lenders and secured the best rate quickly.
Swati Mehra
New Car Loan FAQs
A loan to finance the purchase of a brand-new car.
Yes, with minimum 2 years of stable business and income proof.
Yes, prepayment or foreclosure is allowed.