Overview of Vehicle Loan in Sohna
Vehicle loans in Sohna for 2025 provide financing for two-wheelers, cars, and commercial vehicles with interest rates starting at 6.5% p.a. Lenders like HDFC Bank, ICICI Bank, and Bajaj Finance offer loans up to ₹50 lakh, covering up to 100% of the vehicle’s on-road price. Loanpao enables Sohna residents to apply online, get instant approvals, and enjoy flexible EMI options with tenures up to 7 years.
Eligibility Criteria for Vehicle Loan in Sohna
| Criteria | Details |
|---|---|
| Age | 21 to 65 years |
| Income | Minimum ₹15,000/month (salaried) or ₹2 lakh/year (self-employed) |
| Employment | 1 year (salaried) or 2 years (self-employed) |
| Residence | Valid Sohna address proof |
| Credit Score | 700+ preferred |
Documents Required for Vehicle Loan in Sohna
- Identity Proof: Aadhaar, PAN Card, Driving License, Passport, or Voter ID.
- Address Proof: Utility bill, Aadhaar, or rental agreement (Sohna address).
- Income Proof: Salary slips (3 months), ITR (2 years), or bank statements.
- Vehicle Details: Proforma invoice or quotation from the dealer.
- Photograph: Recent passport-size photograph of the applicant.
Benefits of Vehicle Loan in Sohna
- Loan amounts up to ₹50 lakh for various vehicles.
- Low interest rates starting at 6.5% p.a. in 2025.
- Flexible repayment tenures up to 7 years.
- Up to 100% financing of the vehicle’s on-road price.
- Quick disbursal within 1–3 days in Sohna.
Factors Affecting Vehicle Loan in Sohna
Vehicle Type
Loans for two-wheelers, cars, or commercial vehicles have different rates and terms.
Loan-to-Value (LTV)
Up to 100% of the vehicle’s on-road price, based on lender policies.
Interest Rate
Rates range from 6.5% to 12% p.a., depending on credit score and lender.
Credit Score
A score above 700 ensures better rates and approval chances in Sohna.
How to Apply for a Vehicle Loan in Sohna
Follow these steps to apply for a vehicle loan in Sohna through Loanpao:
- Visit loanpao.in and select "Vehicle Loan in Sohna."
- Fill out the online application form with personal and income details.
- Upload required documents (Aadhaar, income proof, vehicle quotation).
- Compare offers from Sohna lenders like HDFC Bank and ICICI Bank.
- Get approval and funds disbursed within 1–3 days.
Loan Eligibility for Vehicle Loan in Sohna
Check your eligibility for a vehicle loan in Sohna with Loanpao’s tool:
- Enter your age (21–65 years).
- Provide income details (₹15,000/month or ₹2 lakh/year).
- Include employment history and Sohna address proof.
- Check your credit score for better loan terms.
Loanpao will estimate your loan amount and suggest the best offers in Sohna.
Check Eligibility NowTrack Your Vehicle Loan Application in Sohna
Loanpao provides a seamless tracker for your vehicle loan application:
- Submit your application ID on the Loanpao Tracker page.
- Get real-time updates on status (e.g., under review, approved, disbursed).
- Receive notifications for disbursal updates in Sohna.
- Contact Loanpao support for assistance with delays in Sohna.
Vehicle Loan Comparison in Sohna
Compare vehicle loan offers from top lenders in Sohna:
| Lender | Interest Rate | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 6.50% p.a. | Up to ₹50 lakh | Up to 7 years | Up to ₹4,500 |
| ICICI Bank | 7.00% p.a. | Up to ₹40 lakh | Up to 6 years | Up to ₹5,000 |
| Bajaj Finance | 7.50% p.a. | Up to ₹25 lakh | Up to 5 years | Up to 1% of loan amount |
Frequently Asked Questions
Vehicle loans cover two-wheelers, cars, and commercial vehicles like trucks and taxis.
Vehicle loans in Sohna are disbursed within 1–3 days after approval.
The maximum loan amount is up to ₹50 lakh, based on the vehicle’s on-road price.
Yes, many lenders offer loans for used vehicles, typically up to 80% of the vehicle’s value.
Yes, most lenders allow prepayment with minimal or no penalties after 6 months.