Car Loan in Vadodara
Compare banks before the dealer.
Buying a new or used car? Look at offers from different banks before you decide with the dealer. We prepare your papers and follow your file until the bank answers.
- We do not lend. The bank decides
- We check your papers before the bank does
- We follow up until the bank answers
What is a car loan?
A car loan is money from a bank to buy a new or used car. The car is the security, so the bank's name stays on the car's papers until you finish paying. You pay a part of the price yourself as the down payment, and repay the rest in monthly EMIs.
A higher down payment usually means a smaller EMI. Banks check your income, your credit score and your current EMIs. The dealer may also offer a loan, but it is worth comparing it with other banks.
Ask for the full cost, not only the EMI. Check the interest rate, the processing fee and the charge for paying the loan early.
How Jensi Finloan helps
- Check your credit score and current EMIs before you apply
- Compare bank offers, not only the dealer's offer
- Prepare your papers and the dealer's price quotation
- Send a complete file to the bank
- Follow up until the bank answers
- Explain the terms and fees before you sign
Papers you need
This is a general list. Your bank or insurance company will confirm the exact papers.
You
- PAN card and Aadhaar card
- Address proof, if different from Aadhaar
- Income proof: salary slips, or income tax returns (ITR) for business
- Bank statements, last 6 months
- Passport-size photographs
The car
- Price quotation (proforma invoice) from the car dealer
- For a used car: the car's registration papers and insurance, as the bank asks
How it works
Five simple steps, from your first call to the bank's answer.
Call or message us
Tell us the car, the price and the down payment you can pay.
We check your details
We look at your credit score, income and current EMIs.
We choose the bank and apply
We compare banks and send your file.
The bank checks the file
We answer its questions and follow up.
Sanction and payment
After approval, the bank usually pays the dealer. You pay the down payment and take the car.
Check your monthly EMI
Move the sliders to see a rough EMI for a car loan. This is only an example.
- Loan amount
- Total interest
- You pay in total
This is only an estimate. Your bank's real interest rate and fees can be different.
Check this with MrugeshCommon questions
Can I get a loan for a used car?
Yes, many banks give loans for used cars. The rules and the interest rate are usually a little different from a new car.
How much down payment do I need?
It depends on the bank and the car. A higher down payment usually means a smaller EMI.
Should I take the loan from the dealer or from a bank?
Compare both. The dealer's offer is easy, but it may not be the cheapest. We compare banks for you.
Whose name is on the car?
The car is registered in your name, with the bank's name noted on the papers until you finish paying. The bank then clears it.
Does Jensi Finloan give the loan?
No. The bank gives the loan. We prepare your file and follow up with the bank.
Our other services
Jensi Finloan helps with 8 kinds of loans and insurance.
Talk to Mrugesh about your Car Loan
Send your details on WhatsApp or the enquiry form. Mrugesh will contact you. Office: 14 Sai Vihar Society, Waghodia Rd, near Sharnam, Char Rasta, Vadodara 390019.