Overview of Vehicle Loan in Panipat

Vehicle loans in Panipat provide financing for two-wheelers, commercial vehicles, and other transport needs. In 2025, access loans up to ₹50 lakh with interest rates starting at 7.5% p.a. Loanpao partners with lenders like HDFC, SBI, and Bajaj Finance to offer tailored vehicle loans, supporting Panipat’s growing transport and logistics sector.

Eligibility Criteria for Vehicle Loan in Panipat

Criteria Details
Applicant Type Salaried, self-employed, or business owners
Age 21–65 years
Income ₹15,000/month (salaried), ₹2 lakh/year (self-employed)
Loan Amount ₹50,000–₹50 lakh, based on vehicle type
Credit Score 650+ preferred
Residency Resident of Panipat or nearby areas

Documents Required for Vehicle Loan in Panipat

  • Identity Proof: Aadhaar, PAN Card, or Passport.
  • Address Proof: Aadhaar, Utility Bill, or Rent Agreement.
  • Income Proof: Salary slips (3 months), ITR (2 years), or business financials.
  • Bank Statements: Last 6 months.
  • Vehicle Documents: Quotation or proforma invoice.
  • Photographs: 2 passport-sized photos.

Benefits of Vehicle Loan in Panipat

  • Competitive rates starting at 7.5% p.a. in 2025.
  • Loans up to ₹50 lakh for two-wheelers and commercial vehicles.
  • Flexible tenures from 1 to 7 years.
  • Up to 100% financing on vehicle cost (ex-showroom).
  • Quick disbursal within 1–3 days.

Factors Affecting Vehicle Loan in Panipat

Vehicle Type

Two-wheelers attract lower rates; commercial vehicles may have higher limits.

Credit Score

Higher scores secure better rates and faster approval.

Income Stability

Consistent income enhances loan eligibility.

Loan-to-Value (LTV) Ratio

Up to 90–100% of vehicle cost, per lender policies.

How to Apply for a Vehicle Loan in Panipat

Follow these steps to apply for a vehicle loan in Panipat through Loanpao:

  1. Visit Loanpao.com and select "Vehicle Loan in Panipat."
  2. Enter applicant, income, and vehicle details.
  3. Upload identity, income, and vehicle documents.
  4. Choose a lender (e.g., HDFC, SBI, Bajaj Finance) and submit.
  5. Receive funds within 1–3 days after approval.

Loan Eligibility for Vehicle Loan in Panipat

Check your eligibility for a vehicle loan in Panipat with Loanpao’s tool:

  • Enter income, vehicle type, and loan amount preferences.
  • Provide credit score and employment details.
  • Receive instant eligibility and loan offer estimates.
  • Compare deals from top lenders in Panipat.

Loanpao ensures quick and hassle-free vehicle loans.

Check Eligibility Now

Track Your Vehicle Loan Application in Panipat

Loanpao provides a seamless tracker for your vehicle loan application:

  • Enter your application ID on the Loanpao Tracker page.
  • View real-time status (e.g., under review, approved, disbursed).
  • Receive notifications for fund disbursal in Panipat.
  • Contact Loanpao support for assistance with delays.
Track Application Now

Vehicle Loan Comparison in Panipat

Compare vehicle loan offers from top lenders in Panipat:

Lender Interest Rate Loan Amount Tenure Processing Fee
HDFC 7.5% p.a. ₹50,000–₹50 lakh 1–7 years 0.5% of loan amount
SBI 8% p.a. ₹1 lakh–₹48 lakh 1–7 years 0.75% of loan amount
Bajaj Finance 8.5% p.a. ₹50,000–₹25 lakh 1–5 years 1% of loan amount

Frequently Asked Questions

A vehicle loan provides financing for purchasing two-wheelers, commercial vehicles, or other transport vehicles.

Yes, many lenders offer loans for used vehicles, subject to vehicle age and condition.

Approval and disbursal typically take 1–3 days after document verification.

Yes, most lenders allow prepayment with minimal or no charges after 6 months.

Defaulting may lead to vehicle repossession, credit score damage, or legal action, per RBI guidelines.

Some lenders offer 100% financing; others may require 5–20% down payment.