Showroom finance is convenient, but rarely the cheapest. For a new car, we compare bank and NBFC offers against the dealer's scheme. For a used car, we find lenders who fund the model, year and price you have in mind, and check the paperwork before you pay.
Each is financed differently. Here is what changes, and what we do for each.
From any showroom, including EVs
From a dealer or a private seller
General patterns. Actual terms depend on the lender, the car and your profile.
| New car | Used car | |
|---|---|---|
| Loan amount based on | On-road or ex-showroom price | Lender's valuation of the car |
| Interest rate | Usually lower | Usually higher than for a new car |
| Tenure | Longer tenures available | Shorter, depending on the car's age |
| Checks before approval | Dealer invoice | Valuation, RC, insurance, any existing loan on the car |
| Time to approve | Often quicker | A little longer, because of valuation |
For both new and used. You don't need these to start.
New or used. Loan amount is the car price minus your down payment.
Rates shown are examples. Your actual rate depends on your profile and the lender.
Monthly EMI
₹16,607
Always compare reducing-balance rates. A "flat" rate of the same number costs much more.
Ideally before you pay any booking amount, so you negotiate knowing your budget.
Model, new or used, and price.
And for used cars, the paperwork.
Bank, NBFC or dealer, full cost shown.
Until the lender pays the seller.
Nothing to pay for the enquiry, the eligibility check, the bank comparison or the paperwork. Our minimal service fee applies only after the loan is sanctioned and the money reaches you.
Send the basics on WhatsApp. We usually reply within the working day.
