Overview of Car Loan in Ghaziabad
Car loans in Ghaziabad enable residents in areas like Indirapuram, Raj Nagar, and Vaishali to finance new or used cars with ease. In 2025, lenders like SBI, ICICI Bank, and HDFC offer car loans with interest rates starting at 7.5% p.a. and loan amounts up to ₹1 crore (90% of on-road price). Loanpao helps Ghaziabad residents compare offers, check eligibility, and apply for car loans tailored to their needs.
Eligibility Criteria for Car Loan in Ghaziabad
| Criteria | Details |
|---|---|
| Applicant Type | Salaried, self-employed, or business owners |
| Age | 21 to 65 years |
| Income | Minimum ₹20,000/month (salaried) or ₹2.5 lakh/year (self-employed) |
| Credit Score | Minimum 650 |
| Employment | Minimum 1 year (salaried) or 2 years (self-employed) |
| Collateral | Car serves as collateral |
Documents Required for Car Loan in Ghaziabad
- Identity Proof: PAN Card, Aadhaar Card.
- Address Proof: Aadhaar Card, utility bill, or rental agreement.
- Income Proof: Salary slips (last 3 months), ITR (last 2 years).
- Bank Statement: Last 6 months of personal/business account.
- Car Documents: Proforma invoice, quotation from dealer.
- Photograph: Recent passport-size photo.
Benefits of Car Loan in Ghaziabad
- Interest rates starting at 7.5% p.a. in 2025.
- Loan amounts up to ₹1 crore (90% of on-road price).
- Flexible repayment tenure up to 7 years.
- Financing for both new and used cars.
- Quick disbursal within 3-5 days for approved applications.
Factors Affecting Car Loan in Ghaziabad
Interest Rate
Rates range from 7.5% to 12%, based on credit score, income, and car type (new/used).
Credit Score
A score above 650 ensures better rates and faster approval.
Income
Higher income (above ₹20,000/month) improves loan amount and terms.
Loan-to-Value Ratio
Up to 90% financing of the car’s on-road price, depending on the lender.
How to Apply for a Car Loan in Ghaziabad
Follow these steps to apply for a car loan in Ghaziabad through Loanpao:
- Visit loanpao.in and select "Car Loan in Ghaziabad."
- Fill out the online application with personal and income details.
- Upload required documents (identity, income, car quotation).
- Submit the application and get approval within 3-5 days.
- Receive funds directly to the car dealer post-verification.
Loan Eligibility for Car Loan in Ghaziabad
Check your eligibility for a car loan in Ghaziabad with Loanpao’s eligibility tool:
- Enter personal details (income, credit score, employment).
- Provide car details (make, model, price).
- Upload income proof for instant verification.
Loanpao will assess your eligibility and suggest the best car loan offers in Ghaziabad.
Check Eligibility NowTrack Your Car Loan Application in Ghaziabad
Loanpao provides a seamless tracker for your car loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates (e.g., verification, approval, disbursed).
- Receive notifications for disbursal updates in Ghaziabad.
- Contact Loanpao support for assistance with delays.
Car Loan Comparison in Ghaziabad
Compare car loan offers from top lenders in Ghaziabad:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 7.5% p.a. | Up to ₹1 crore | Up to 7 years | Up to 0.5% of loan amount |
| ICICI Bank | 7.75% p.a. | Up to ₹75 lakh | Up to 7 years | Up to 1% of loan amount |
| HDFC | 8% p.a. | Up to ₹80 lakh | Up to 7 years | Up to 0.75% of loan amount |
Frequently Asked Questions
A car loan in Ghaziabad is a secured loan to finance the purchase of new or used cars, with the car serving as collateral.
Interest rates start at 7.5% p.a., depending on the lender, credit score, and car type.
Approval typically takes 3-5 days, with disbursal within 5-7 days post-verification.
Yes, the car itself serves as collateral for the loan.
Loan amounts can go up to ₹1 crore, covering up to 90% of the car’s on-road price.
Yes, most lenders allow early repayment with minimal or no prepayment charges after 6 months.
Top lenders include SBI, ICICI Bank, and HDFC in Ghaziabad.
Yes, Loanpao offers a fully online application process for car loans in Ghaziabad.
Processing fees range from 0.5% to 1% of the loan amount, depending on the lender.
Yes, many lenders offer loans for used cars, typically up to 80% of the car’s value.