Overview of Car Loan in Manesar
A car loan in Manesar helps you purchase new or used cars with affordable financing options. In 2025, lenders like HDFC Bank, SBI, and Kotak Mahindra Bank offer car loans in Manesar with interest rates starting at 7.5% per annum. Loanpao enables you to compare offers, check eligibility, and apply seamlessly for a car loan tailored to your needs in Manesar.
Eligibility Criteria for Car Loan in Manesar
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Residency | Resident of India with valid address proof in Manesar |
| Income | Minimum ₹20,000 monthly income (salaried/self-employed) |
| Employment | Minimum 1 year of stable employment or 2 years in business |
| Credit Score | Minimum 700 preferred |
| Debt-to-Income Ratio | Below 50% preferred |
Documents Required for Car Loan in Manesar
- Identity Proof: Aadhaar Card, PAN Card, or Passport.
- Address Proof: Utility bill, Aadhaar, or Rental Agreement (Manesar address).
- Income Proof: Salary slips (last 3 months), ITR (last 2 years).
- Bank Statement: Last 6 months’ bank statements.
- Photographs: 2 passport-sized photographs.
- Vehicle Documents: Proforma invoice or quotation of the car.
Benefits of Car Loan in Manesar
- Competitive interest rates starting at 7.5% per annum in 2025.
- Loan amounts up to 90% of the car’s on-road price in Manesar.
- Quick disbursal within 24-72 hours from lenders like HDFC Bank.
- Flexible repayment tenure of up to 7 years.
- Financing available for both new and used cars.
Factors Affecting Car Loan in Manesar
Interest Rate
Rates range from 7.5% to 12%, depending on credit score, income, and car type.
Loan Amount
Up to 90% of the car’s value, based on income and creditworthiness in Manesar.
Credit Score
A score above 700 ensures better terms in Manesar.
Car Type
New cars often get lower rates than used cars.
How to Apply for a Car Loan in Manesar
Follow these steps to apply for a car loan in Manesar through Loanpao:
- Visit loanpao.in and select "Car Loan in Manesar."
- Fill out the online application form with your details (name, Manesar address, income).
- Upload required documents (Aadhaar, PAN, salary slips, car quotation).
- Compare offers from top Manesar lenders like HDFC Bank, SBI, and Kotak Mahindra Bank.
- Get approval and funds disbursed within 24-72 hours in Manesar.
Loan Eligibility for Car Loan in Manesar
Check your eligibility for a car loan in Manesar with Loanpao’s eligibility tool:
- Enter your monthly income (minimum ₹20,000).
- Provide your credit score (preferably above 700).
- Specify your employment details (minimum 1 year).
- Include your Manesar address for localized offers.
Loanpao will instantly assess your eligibility and suggest the best car loan offers in Manesar.
Check Eligibility NowTrack Your Car Loan Application in Manesar
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 Manesar.
- Contact Loanpao support for assistance with delays in Manesar.
Car Loan Comparison in Manesar
Compare car loan offers from top lenders in Manesar:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 7.5% p.a. | Up to 90% of car value | Up to 7 years | 0.5% of loan amount |
| SBI | 8% p.a. | Up to 85% of car value | Up to 7 years | 0.75% of loan amount |
| Kotak Mahindra | 8.25% p.a. | Up to 80% of car value | Up to 5 years | 1% of loan amount |
Frequently Asked Questions
The minimum monthly income required is ₹20,000 for a car loan in Manesar.
Interest rates for car loans in Manesar start at 7.5% per annum, depending on the lender.
Car loans in Manesar can be disbursed within 24-72 hours after application submission.
Yes, but a credit score above 700 is preferred. Some lenders in Manesar may approve with a lower score at higher rates.
The maximum tenure for a car loan in Manesar is up to 7 years.
Yes, most lenders in Manesar allow prepayment with minimal 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 Manesar for car loans include HDFC Bank, SBI, and Kotak Mahindra Bank, offering competitive rates and quick disbursal.
Yes, Loanpao offers a fully online application process for car loans in Manesar.
The maximum loan amount for a car loan in Manesar can cover up to 90% of the car’s on-road price, depending on the lender and your income.