Overview of Vehicle Loan in Gurugram
Vehicle loans in Gurugram allow you to finance two-wheelers, commercial vehicles, or heavy machinery for personal or business use. In 2025, lenders like HDFC Bank, ICICI Bank, and Bajaj Finance offer vehicle loans in Gurugram with interest rates starting at 8% p.a. Loanpao helps you compare offers, check eligibility, and apply for vehicle loans tailored to Gurugram’s growing transport needs.
Eligibility Criteria for Vehicle Loan in Gurugram
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Residency | Resident of Gurugram with valid address proof |
| Income | Minimum ₹15,000/month (salaried) or ₹2 lakh/year (self-employed) |
| Employment | Minimum 1 year of employment or 2 years in business |
| Credit Score | Minimum 650 |
| Vehicle Type | Two-wheelers, commercial vehicles, or heavy machinery |
Documents Required for Vehicle 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 (3 months), ITR, or bank statements (6 months).
- Photographs: 2 passport-sized photographs.
- Vehicle Details: Quotation or proforma invoice from dealer.
Benefits of Vehicle Loan in Gurugram
- Competitive interest rates starting at 8% p.a. in 2025.
- Loan amounts up to ₹50 lakh for commercial vehicles.
- Fast disbursal within 1-3 days from lenders like Bajaj Finance in Gurugram.
- Flexible repayment tenure up to 5 years.
- Financing for both new and used vehicles.
Factors Affecting Vehicle Loan in Gurugram
Interest Rate
Rates range from 8% to 14%, depending on credit score and vehicle type.
Loan Amount
Up to 90% of the vehicle’s on-road price for two-wheelers, 85% for commercial vehicles.
Credit Score
A score above 650 ensures better rates and approval.
Income Stability
Stable income or business revenue increases loan eligibility.
How to Apply for a Vehicle Loan in Gurugram
Follow these steps to apply for a vehicle loan in Gurugram through Loanpao:
- Visit loanpao.in and select "Vehicle Loan in Gurugram."
- Fill out the online application form with personal and vehicle details.
- Upload required documents (Aadhaar, PAN, income proof).
- Submit the application and get lender approval within 24 hours.
- Get funds disbursed within 1-3 days after verification.
Loan Eligibility for Vehicle Loan in Gurugram
Check your eligibility for a vehicle loan in Gurugram with Loanpao’s eligibility tool:
- Enter income details (monthly salary or annual revenue).
- Provide Gurugram address for localized offers.
- Specify vehicle type and applicant age (21-65 years).
Loanpao will instantly assess your eligibility and suggest the best vehicle loan offers in Gurugram.
Check Eligibility NowTrack Your Vehicle Loan Application in Gurugram
Loanpao provides a seamless tracker for your vehicle loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on your application status (e.g., verification, approved, disbursed).
- Receive notifications for disbursal updates in Gurugram.
- Contact Loanpao support for assistance with delays in Gurugram.
Vehicle Loan Comparison in Gurugram
Compare vehicle loan offers from top lenders in Gurugram:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 8% p.a. | Up to ₹25 lakh | Up to 5 years | 0.5% of loan amount |
| ICICI Bank | 8.5% p.a. | Up to ₹30 lakh | Up to 4 years | 0.75% of loan amount |
| Bajaj Finance | 9% p.a. | Up to ₹50 lakh | Up to 5 years | 1% of loan amount |
Frequently Asked Questions
You can finance two-wheelers, commercial vehicles, and heavy machinery in Gurugram.
Interest rates start at 8% p.a., depending on the lender and vehicle type.
Vehicle loans in Gurugram are typically disbursed within 1-3 days after approval.
Yes, a minimum credit score of 650 is typically required.
Loan amounts can go up to ₹50 lakh for commercial vehicles.
Yes, most lenders allow early repayment with minimal prepayment charges.
Yes, many lenders in Gurugram offer loans for used vehicles.
Top lenders include HDFC Bank, ICICI Bank, and Bajaj Finance in Gurugram.
Yes, Loanpao offers an online application process for vehicle loans in Gurugram.
Processing fees range from 0.5% to 1% of the loan amount, depending on the lender.