Overview of Vehicle Loan in Rewari
Vehicle loans in Rewari provide financing for two-wheelers, commercial vehicles, and other vehicles. In 2025, lenders like Bajaj Finance, HDFC Bank, and SBI offer vehicle loans with interest rates starting at 8% per annum. Loanpao helps Rewari residents compare offers, check eligibility, and apply for vehicle loans with quick disbursal, ideal for personal or business use.
Eligibility Criteria for Vehicle Loan in Rewari
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Residency | Must be a resident of Rewari with valid address proof |
| Income | Minimum ₹15,000/month for salaried; ₹2 lakh/year for self-employed |
| Employment | Minimum 1 year of employment or 2 years in business |
| Credit Score | 650 or above preferred |
| Vehicle Type | Two-wheelers, commercial vehicles, or tractors |
Documents Required for Vehicle 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 (3 months), ITR, or bank statements (6 months).
- Vehicle Details: Proforma invoice or quotation from the dealer.
- Photographs: 2 passport-sized photographs of the applicant.
Benefits of Vehicle Loan in Rewari
- Low interest rates starting at 8% per annum in 2025.
- Loan amounts up to 90% of the vehicle’s on-road price.
- Flexible repayment tenure from 1 to 5 years.
- Quick disbursal within 1-3 days for verified applicants in Rewari.
- Financing for two-wheelers, commercial vehicles, and tractors.
Factors Affecting Vehicle Loan in Rewari
Interest Rate
Rates range from 8% to 14%, based on credit score, income, and lender policies.
Loan Amount
Up to 90% of the vehicle’s value, depending on the type and applicant profile.
Credit Score
Higher scores (650+) secure better rates and faster approvals in Rewari.
Vehicle Type
Two-wheelers have lower loan amounts; commercial vehicles may require higher income proof.
How to Apply for a Vehicle Loan in Rewari
Follow these steps to apply for a vehicle loan in Rewari through Loanpao:
- Visit loanpao.in and select "Vehicle Loan in Rewari."
- Fill out the online application form with applicant details (name, Rewari address).
- Upload required documents (Aadhaar, income proof, vehicle quotation).
- Compare offers from Rewari lenders like Bajaj Finance, HDFC Bank, and SBI.
- Get approval and funds disbursed within 1-3 days in Rewari.
Loan Eligibility for Vehicle Loan in Rewari
Check your eligibility for a vehicle loan in Rewari with Loanpao’s eligibility tool:
- Enter applicant details (age, Rewari address, income).
- Specify vehicle type (two-wheeler, commercial vehicle, or tractor).
- Provide employment and credit score details.
Loanpao will instantly assess your eligibility and suggest the best vehicle loan offers in Rewari.
Check Eligibility NowTrack Your Vehicle Loan Application in Rewari
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., under review, approved, disbursed).
- Receive notifications for disbursal updates in Rewari.
- Contact Loanpao support for assistance with delays in Rewari.
Vehicle Loan Comparison in Rewari
Compare vehicle loan offers from top lenders in Rewari:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| Bajaj Finance | 8% p.a. | Up to ₹5 lakh | 1 to 4 years | 1% of loan amount |
| HDFC Bank | 8.5% p.a. | Up to ₹10 lakh | 1 to 5 years | 0.5% of loan amount |
| SBI | 9% p.a. | Up to ₹15 lakh | 1 to 5 years | 0.75% of loan amount |
Frequently Asked Questions
Yes, vehicle loans in Rewari cover two-wheelers, with loan amounts up to ₹5 lakh.
Interest rates start at 8% per annum, depending on the lender and credit profile.
Vehicle loans in Rewari can be disbursed within 1-3 days after document verification.
A credit score of 650 or above is preferred, but some lenders may consider lower scores with higher rates.
The maximum tenure for a vehicle loan in Rewari is up to 5 years.
Yes, most lenders in Rewari allow prepayment with minimal or no charges after a lock-in period.
Missing an EMI may lead to late fees and could impact your credit score or result in vehicle repossession.
Top lenders in Rewari include Bajaj Finance, HDFC Bank, and SBI, offering competitive rates and fast disbursal.
Yes, Loanpao offers an online application process for vehicle loans in Rewari, with quick approval.
The maximum loan amount is up to 90% of the vehicle’s on-road price, typically up to ₹15 lakh in Rewari.