Overview of Car Loan in Gurugram
A car loan in Gurugram provides financing for purchasing new or used cars, tailored for salaried and self-employed individuals. In 2025, top lenders like HDFC, ICICI, and SBI offer car loans in Gurugram with interest rates starting at 8.5% per annum. Loanpao helps you compare offers, check eligibility, and apply seamlessly for a car loan suited to Gurugram’s fast-paced lifestyle.
Eligibility Criteria for Car Loan in Gurugram
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Residency | Must be a resident of Gurugram with valid address proof |
| Income | Minimum ₹20,000 monthly income (salaried) or ₹2.5 lakh annual income (self-employed) |
| Employment | Minimum 1 year of employment or 2 years of business operations |
| Credit Score | Minimum 650 preferred |
| Vehicle Type | New or used car (up to 7 years old) |
Documents Required for Car Loan in Gurugram
- Identity Proof: Aadhaar Card, PAN Card, or Passport.
- Address Proof: Utility bill, Aadhaar, or Rental Agreement (Gurugram address).
- Income Proof: Salary slips (last 3 months) or ITR (last 2 years).
- Bank Statement: Last 6 months’ bank statements.
- Vehicle Documents: Quotation for new car or RC for used car.
- Photographs: 2 passport-sized photographs.
Benefits of Car Loan in Gurugram
- Competitive interest rates starting at 8.5% per annum in 2025.
- Loan amounts up to ₹50 lakh based on income and vehicle cost in Gurugram.
- Quick disbursal within 48 hours from lenders like HDFC in Gurugram.
- Flexible repayment tenure of up to 7 years.
- Financing up to 90% of the car’s on-road price.
Factors Affecting Car Loan in Gurugram
Interest Rate
Rates range from 8.5% to 14%, depending on credit score, income, and vehicle type.
Loan Amount
Lenders offer up to ₹50 lakh or 90% of the car’s value based on financials in Gurugram.
Credit Score
A score above 650 ensures better terms in Gurugram.
Income
Higher income (above ₹20,000 monthly) increases loan eligibility.
How to Apply for a Car Loan in Gurugram
Follow these steps to apply for a car loan in Gurugram through Loanpao:
- Visit loanpao.in and select "Car Loan in Gurugram."
- Fill out the online application form with your details (name, Gurugram address, income).
- Upload required documents (Aadhaar, PAN, salary slips, vehicle quotation).
- Compare offers from top Gurugram lenders like HDFC, ICICI, and SBI.
- Get approval and funds disbursed within 48 hours in Gurugram.
Loan Eligibility for Car Loan in Gurugram
Check your eligibility for a car loan in Gurugram with Loanpao’s eligibility tool:
- Enter your monthly income (minimum ₹20,000).
- Provide your credit score (preferably above 650).
- Specify your employment stability (minimum 1 year).
- Include your Gurugram address and vehicle details for localized offers.
Loanpao will instantly assess your eligibility and suggest the best car loan offers in Gurugram.
Check Eligibility NowTrack Your Car Loan Application in Gurugram
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 disbursal updates in Gurugram.
- Contact Loanpao support for assistance with delays in Gurugram.
Car Loan Comparison in Gurugram
Compare car loan offers from top lenders in Gurugram:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC | 8.5% p.a. | Up to ₹50 lakh | Up to 7 years | 1% of loan amount |
| ICICI | 9% p.a. | Up to ₹40 lakh | Up to 7 years | 1.5% of loan amount |
| SBI | 9.5% p.a. | Up to ₹30 lakh | Up to 7 years | ₹3,000 |
Frequently Asked Questions
The minimum monthly income required is ₹20,000 for a car loan in Gurugram.
Interest rates for car loans in Gurugram start at 8.5% per annum, depending on the lender.
Car loans in Gurugram can be disbursed within 48 hours after application submission.
Yes, but a credit score above 650 is preferred. Some lenders in Gurugram may approve with a lower score at higher rates.
The maximum tenure for a car loan in Gurugram is up to 7 years.
Yes, most lenders in Gurugram 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 legal action by the lender.
Top lenders in Gurugram for car loans include HDFC, ICICI, and SBI, offering competitive rates and quick disbursal.
Yes, Loanpao offers a fully online application process for car loans in Gurugram.
The maximum loan amount for a car loan in Gurugram can go up to ₹50 lakh, depending on the lender and vehicle cost.