Drive Home Your Next Car with Confidence
Explore financing options for new and pre-owned cars with guidance from enquiry to lender coordination.
Understanding Car Loan
What is a car loan?
A car loan helps you buy a vehicle, with the car typically hypothecated to the lender until the loan is repaid.
What can it be used for?
Buying a new car from a dealer or a pre-owned car, for personal or business use — subject to lender policy.
Who may consider it?
Salaried individuals, self-employed professionals and businesses planning a vehicle purchase.
Typical loan structure
A part of the on-road or valuation price is financed, with the balance paid as down payment and the loan repaid through EMIs.
Key Features & Use Cases
Availability of each option is subject to lender policy.
New car financing
Options for vehicles purchased from authorised dealers.
Pre-owned car financing
Financing for used cars, subject to vehicle age and valuation.
Business vehicles
Options for vehicles purchased in the name of a business.
Flexible tenure
Repayment periods chosen within lender limits.
Dealer coordination
Help coordinating quotations and paperwork with the dealer and lender.
Balance transfer
Moving an existing car loan, where applicable.
Typical Eligibility
Factors usually considered:
- Age within lender limits
- Income and employment or business stability
- Credit history
- Existing obligations
- Vehicle type, model and price
- For pre-owned cars: vehicle age and valuation
Eligibility criteria may vary depending on the lender, applicant profile, income, credit history, property and other applicable factors.
Documents Typically Required
Basic KYC
- Identity proof (Aadhaar, passport, voter ID, etc.)
- Address proof
- PAN card
- Recent passport-size photographs
Income documents
- Salary slips / Form 16 (salaried)
- ITRs and financials (self-employed)
- Bank statements
Vehicle documents
- Proforma invoice / quotation from dealer
- For pre-owned: RC, insurance and valuation report
- Insurance details as required
Additional documents may be requested by the respective lender based on the applicant and transaction.
How the Process Works
- 01
Share Your Requirement
Tell us what you need through the form, WhatsApp or a call.
- 02
Profile & Document Review
We understand your profile and review the documents.
- 03
Explore Suitable Options
We help you compare options from our lending network.
- 04
Application & Lender Coordination
We assist with the application and coordinate with the lender.
- 05
Approval / Disbursement
As per the lender's process and assessment.
Guidance You Can Rely On
Personalised Guidance
Advice shaped around your situation.
Multiple Financial Solutions
Loans and insurance under one roof.
Transparent Communication
Clear updates, no hidden surprises.
End-to-End Assistance
Support from enquiry to completion.
Lender Coordination
We follow up so you don't have to.
Car Loan — Frequently Asked Questions
Can I get a loan for a used car?
Yes, many lenders finance pre-owned cars subject to vehicle age, condition and valuation.
How much down payment is needed?
It varies by lender, vehicle and your profile.
Who owns the car during the loan?
You are the registered owner, with the lender's hypothecation noted on the RC until repayment.
Can self-employed applicants apply?
Yes, with income documents such as ITRs and bank statements.
Is insurance mandatory?
Motor insurance is required by law, and lenders generally require it to remain active during the loan.
What happens after the loan is repaid?
The lender issues a no-objection certificate so the hypothecation can be removed from the RC.
Looking for the Right Car Loan Solution?
Share your requirement and let our team help you explore suitable options.
Arthmitra Financial Services facilitates financial assistance and acts as an intermediary/channel partner where applicable. Approval, eligibility, interest rates, premiums, terms, documentation and other conditions are subject to the respective financial institution or insurer’s policies.