Overview of Car Loan in Delhi

A car loan in Delhi helps you finance the purchase of a new or used car. In 2025, top banks like HDFC, ICICI, and SBI offer car loans in Delhi with interest rates starting at 8% per annum. Loanpao helps you compare offers, check eligibility, and apply seamlessly for a car loan tailored to Delhi’s market.

Eligibility Criteria for Car Loan in Delhi

Criteria Details
Age 21 to 65 years
Residency Must be a resident of Delhi with valid address proof
Income Minimum ₹3 lakh annual income (salaried/self-employed)
Employment Minimum 2 years of employment (salaried) or business stability (self-employed)
Credit Score Minimum 700 preferred

Documents Required for Car Loan in Delhi

  • Identity Proof: Aadhaar Card, PAN Card, or Passport.
  • Address Proof: Utility bill, Aadhaar, or Rental Agreement (Delhi address).
  • Income Proof: Salary slips (last 3 months) for salaried; ITR (last 2 years) for self-employed.
  • Car Documents: Proforma invoice of the car from the dealer.
  • Bank Statement: Last 6 months’ bank statements.
  • Photographs: 2 passport-sized photographs.

Benefits of Car Loan in Delhi

  • Competitive interest rates starting at 8% per annum in 2025.
  • Loan amounts up to 100% of the car’s on-road price in Delhi.
  • Flexible repayment tenure of up to 7 years.
  • Quick disbursal within 48 hours from lenders like HDFC in Delhi.
  • Doorstep document collection services in Delhi through Loanpao.

Factors Affecting Car Loan in Delhi

Interest Rate

Rates vary from 8% to 12%, depending on credit score and income.

Loan-to-Value (LTV) Ratio

Lenders offer up to 100% of the car’s on-road price in Delhi.

Credit Score

A higher credit score (above 700) ensures better terms in Delhi.

Car Type

Loans for new cars have lower rates compared to used cars.

How to Apply for a Car Loan in Delhi

Follow these steps to apply for a car loan in Delhi through Loanpao:

  1. Visit loanpao.in and select "Car Loan in Delhi."
  2. Fill out the online application form with your details (name, Delhi address, income).
  3. Upload required documents (Aadhaar, PAN, salary slips, car invoice).
  4. Compare offers from top Delhi lenders like HDFC, ICICI, and SBI.
  5. Schedule a doorstep document pickup in Delhi and get approval within 48 hours.

Loan Eligibility for Car Loan in Delhi

Check your eligibility for a car loan in Delhi with Loanpao’s eligibility tool:

  • Enter your annual income (minimum ₹3 lakh).
  • Provide your credit score (preferably above 700).
  • Specify the car type (new/used) and price.
  • Include your Delhi address for localized offers.

Loanpao will instantly assess your eligibility and suggest the best car loan offers in Delhi.

Check Eligibility Now

Track Your Car Loan Application in Delhi

Loanpao provides a seamless tracker for your car loan application:

  • Submit your application ID on the Loanpao Tracker page.
  • Get real-time updates on your application status (e.g., under review, approved, disbursed).
  • Receive notifications for document verification in Delhi.
  • Contact Loanpao support for assistance with delays in Delhi.
Track Application Now

Car Loan Comparison in Delhi

Compare car loan offers from top lenders in Delhi:

Lender Interest Rate Loan Amount Tenure Processing Fee
HDFC 8% p.a. Up to 100% of on-road price Up to 7 years 0.5% of loan amount
ICICI 8.5% p.a. Up to 90% of on-road price Up to 6 years 0.75% of loan amount
SBI 9% p.a. Up to 85% of on-road price Up to 7 years ₹5,000

Frequently Asked Questions

The minimum annual income required is ₹3 lakh for a car loan in Delhi.

Interest rates for car loans in Delhi start at 8% per annum, depending on the lender.

Car loans in Delhi can be disbursed within 48 hours after document verification.

Yes, car loans in Delhi are available for both new and used cars, though rates for used cars may be higher.

The maximum tenure for a car loan in Delhi is up to 7 years.

Yes, most lenders in Delhi allow prepayment with minimal or no charges after 6 months of EMIs.

Missing an EMI can lead to late fees, a negative impact on your credit score, and potential repossession of the car.

Top banks in Delhi for car loans include HDFC, ICICI, and SBI, offering competitive rates and quick disbursal.

Yes, Loanpao offers an online application process with doorstep document pickup in Delhi.

The maximum loan amount can go up to 100% of the car’s on-road price, depending on the lender.

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