Overview of Car Loan in Rewari
Car loans in Rewari provide financing for purchasing new or used vehicles, with competitive interest rates starting at 7.5% per annum in 2025. Lenders like SBI, ICICI Bank, and HDFC offer car loans tailored for Rewari residents, covering up to 90% of the vehicle’s on-road price. Loanpao helps you compare offers, check eligibility, and apply for car loans seamlessly in Rewari.
Eligibility Criteria for Car Loan in Rewari
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Residency | Must be a resident of Rewari with valid address proof |
| Applicant Type | Salaried, self-employed, or business owners in Rewari |
| Income | Minimum monthly income of ₹25,000 (salaried) or ₹4 lakh annually (self-employed) |
| Credit Score | Minimum 700 preferred |
| Employment | Minimum 1 year of employment (salaried) or 2 years of business (self-employed) |
Documents Required for Car Loan in Rewari
- Identity Proof: Aadhaar Card, PAN Card, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or Rental Agreement (Rewari address).
- Income Proof: Salary slips (last 3 months), ITR (last 2 years), or business financials.
- Bank Statement: Last 6 months’ bank statements.
- Vehicle Documents: Proforma invoice or quotation from the dealer.
- Photographs: 2 passport-sized photographs.
Benefits of Car Loan in Rewari
- Low interest rates starting at 7.5% per annum in 2025.
- Loan amounts covering up to 90% of the vehicle’s on-road price.
- Flexible repayment tenure of up to 7 years.
- Financing for both new and used cars in Rewari.
- Quick disbursal within 2-4 days for verified applicants in Rewari.
Factors Affecting Car Loan in Rewari
Interest Rate
Rates range from 7.5% to 14%, depending on lender, vehicle type, and credit score.
Loan Amount
Up to 90% of the vehicle’s on-road price, based on income and repayment capacity in Rewari.
Credit Score
A score above 700 ensures better terms; lower scores may increase rates.
Vehicle Type
New cars typically get lower rates; used cars may have higher rates in Rewari.
How to Apply for a Car Loan in Rewari
Follow these steps to apply for a car loan in Rewari through Loanpao:
- Visit loanpao.in and select "Car Loan in Rewari."
- Fill out the online application form with your details (name, Rewari address, income details).
- Upload required documents (Aadhaar, income proof, vehicle quotation).
- Compare offers from top Rewari lenders like SBI, ICICI Bank, and HDFC.
- Get approval and funds disbursed within 2-4 days in Rewari.
Loan Eligibility for Car Loan in Rewari
Check your eligibility for a car loan in Rewari with Loanpao’s eligibility tool:
- Enter your income details (salary or business income).
- Provide Rewari address and employment details.
- Specify your credit score.
- Include vehicle details (new/used, model, price).
Loanpao will instantly assess your eligibility and suggest the best car loan offers in Rewari.
Check Eligibility NowTrack Your Car Loan Application in Rewari
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 Rewari.
- Contact Loanpao support for assistance with delays in Rewari.
Car Loan Comparison in Rewari
Compare car loan offers from top lenders in Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| SBI | 7.5% p.a. | Up to 90% of on-road price | Up to 7 years | 0.5% of loan amount |
| ICICI Bank | 8% p.a. | Up to 85% of on-road price | Up to 6 years | 1% of loan amount |
| HDFC | 8.5% p.a. | Up to 80% of on-road price | Up to 5 years | Up to 1.5% of loan amount |
Frequently Asked Questions
Yes, car loans in Rewari are available for both new and used cars, though used car loans may have slightly higher interest rates.
Interest rates start at 7.5% per annum, depending on the lender, vehicle type, and applicant’s profile.
Car loans in Rewari can be disbursed within 2-4 days after application submission, depending on document verification.
A credit score above 700 is preferred, but some lenders may approve with lower scores at higher interest rates.
The maximum tenure for a car loan in Rewari is up to 7 years.
Yes, most lenders in Rewari 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 Rewari for car loans include SBI, ICICI Bank, and HDFC, offering competitive rates and fast disbursal.
Yes, Loanpao offers a fully online application process for car loans in Rewari.
The maximum loan amount for a car loan in Rewari can cover up to 90% of the vehicle’s on-road price, depending on income and credit profile.