New Car Loan Overview
LoanPao’s New Car Loan in India 2025 offers financing up to ₹50 lakh at 7%–11% p.a. for purchasing new vehicles, with tenures up to 7 years. With LoanPao’s network of 500+ RBI-compliant lenders, including banks and NBFCs, get approvals within 1–3 days through a digital process. Finance up to 90% of the vehicle’s on-road price for cars like Maruti Suzuki, Hyundai, or Tata. For other vehicle financing, explore our Car Loan or MSME Equipment Loan pages.
Use our EMI Calculator to plan repayments or contact us at +91-971-769-5334 for assistance.
Benefits of New Car Loan
Up to ₹50 Lakh
Finance up to 90% of the vehicle’s price.
Low Interest Rates
Starting at 7% p.a.
Flexible Tenure
Up to 7 years for repayment.
Digital Process
Online application with e-KYC.
Trusted Lenders
500+ RBI-compliant banks and NBFCs.
Fast Approval
Loan approved in 1–3 days.
Eligibility Criteria
| Criteria | Details |
|---|---|
| Applicant Type | Salaried, self-employed, businesses |
| Age | 21–60 years |
| Income | Salaried: ₹20,000/month; Self-employed: ₹2 lakh/year |
| CIBIL Score | 700+ preferred |
| Loan Amount | Up to ₹50 lakh or 90% of vehicle price |
| Employment | Salaried: 1 year; Self-employed: 2 years |
Check your eligibility with our CIBIL login tool or contact info@loanpao.in.
Documents Required
- KYC: Aadhaar, PAN, Voter ID
- Income Proof: Salary slips (3 months), ITR (2 years)
- Bank Statements: Last 6 months
- Vehicle Quotation: From authorized dealer
- Address Proof: Utility bill, rent agreement
- Employment Proof: Job letter or business registration
Loan Amount and Tenure
| Vehicle Type | Loan Amount | Tenure | Interest Rate (p.a.) |
|---|---|---|---|
| Hatchback/Sedan | ₹3 lakh–₹15 lakh | 1–5 years | 7%–10% |
| SUV | ₹10 lakh–₹30 lakh | 1–7 years | 7.5%–10.5% |
| Luxury Car | ₹20 lakh–₹50 lakh | 1–7 years | 8%–11% |
How to Apply for New Car Loan
Apply with LoanPao in 3 simple steps:
- Fill the form below with personal and loan details.
- Upload KYC, income proof, and vehicle quotation via e-KYC.
- Get approval within 1–3 days and funds shortly after.
Start your application or call +91-971-769-5334 for support.
Compare New Car Loan Providers
| Provider | Interest Rate (p.a.) | Loan Amount | Tenure | Processing Fee |
|---|---|---|---|---|
| HDFC Bank | 7%–9% | Up to ₹50 lakh | 1–7 years | 0.4%–1% |
| ICICI Bank | 7.5%–10% | Up to ₹40 lakh | 1–7 years | 0.5%–1.5% |
| Axis Bank | 8%–11% | Up to ₹50 lakh | 1–7 years | 0.5%–2% |
Note: Rates and terms are indicative and subject to change. Contact LoanPao for updated offers (July 2025).
Uses of New Car Loan
New Car Loans can be used for:
- Purchasing new hatchbacks, sedans, or SUVs
- Financing luxury cars like BMW or Mercedes
- Covering on-road costs (insurance, registration)
- Buying commercial vehicles for business use
Why Choose LoanPao for New Car Loan?
Wide Lender Network
Compare offers from 500+ RBI-compliant lenders.
EMI Calculator
Use our EMI calculator to plan repayments.
24/7 Support
Contact us at +91-971-769-5334.
Tips for a Successful New Car Loan Application
- Choose a vehicle within your repayment capacity.
- Maintain a CIBIL score of 700+ for better rates.
- Submit a valid vehicle quotation from an authorized dealer.
- Ensure all KYC and income documents are up-to-date.
- Use our EMI Calculator to align EMIs with your budget.