Lowest Interest Rates – Calculate EMI – Check Eligibility – Instant e-Approval – Special Offers
Lowest Interest Rates – Calculate EMI – Check Eligibility – Instant e-Approval – Special Offers
We offer affordable, low-interest-rate car loans with less processing fees, saving our customers thousands of rupees.
Get a loan against car offer with quick loan approval without the need of visiting the bank.
Get lowest EMI with lower interest rates
Just submit the documents online and get loan approved.
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A loan against car is a type of collateral loan in which a borrower pledges his/her car to secure a loan. This type of loan allows individuals to use their car as collateral to obtain funding, which can then be used for any purpose. The loan amount is typically based on the value of the car and the borrower’s creditworthiness. The lender retains the right to seize the car if the borrower defaults on the loan.
Here is the list of documents required for loan against car
| Vehicle Documents | Insurance & Registration Certificate of Vehicle |
| Proof of Identity | Aadhaar Card/ Passport/ Voter ID Card/ Driving Licence/ Photo ID issued by GOI/ Job Card issued by NREGA |
| Proof of Address | Aadhaar Card/ Voter ID Card/ Driving Licence/ Utility Bill/ Lease or Rent Agreement/ Letter issued by National Population Register containing Name & Address Details |
| Office/ Business Proof | Utility Bill/ Sales Tax Regi./ VAT/ Excise/ Service Tax Registration/ Establishment and Shop Registration Certificate/ MSME or SSI Registration Certificate/ Registered Lease Agreement |
| Proof of Age | PAN Card/ Passport/ Driving Licence/ Birth Certificate. |
| Occupation Proof | For Salaried:
Job Appointment Letter/ Salary Slip with Joining Date mentioned/ ITR/ Form 16/ Experience Certificate/ Relieving Certificate. For Self-Employed: Shop & Establishment Registration Certificate/ SSI or MSME Registration Certificate/ GST Certificate/ Sales Tax/ VAT Registration |
| Verification of Signature | Pan Card/ Passport Copy/ Banker’s Verification |
| Proof of Income | Latest Three Months Salary Slips/ 6 Months Bank Statement/ Form 16/ Previous 2 Years ITR/ Audited Balance Sheet/ P&L Statement |
Here are the general questions which comes in mind when we think of Loan Against Car
A loan against Car is an easy refinancing option where one pledges his/her car as collateral and continues using the car as before.
Any person who owns a car is eligible to get a loan against a car providing that he fulfills the eligibility criteria. Leading banks and NBFCs offer loans against a car at attractive interest rates.
When a person takes a loan against a car, the car’s Registration Certificate(RC) is reissued with Hypothecation(HP)in the name of the lending bank. Once the loan term is over you can get NOC from the lending bank and remove the hyphthecation from the RC.
Yes, one can get up to 175% of the car value of an already financed car. The loan amount here depends on the repayment track record, the value of the loan pending, and car details like model and year of manufacturing.
I am a retired Army personnel and my existing lender from which I financed my car in 2017 didn’t approve my top-up car loan. The CreditGO team helped me to get 150% of my car value sitting at home.
I had a 2020 car which I bought in cash, Recently I needed funds for my business expansion. One of my friends referred me to CreditGO and they come up with the best loan against car offer for me.
My loan got rejected from one of the leading banks, Then I came in contact with CreditGO team. They helped me to get my loan approved before the delivery date of my new car.
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