Buying a car is treated as an important factor in someone’s life. The demand for a car in our country is rising by the day. It is not common to see someone purchasing a car when they have extra money. There is the availability of many new models in the market, which makes anyone ready to drive one of those best.
If someone has a regular source of income with a good credit score, they can buy their dream car soon. Car loans are easily available with good credit scores and with flexible EMIs. As the demand for cars is rising day by day, the manufacturers themselves introduced flexible finance schemes to purchase their dream car at affordable costs. The main advantage of getting the manufacturer’s finance is that the loan processing time is reduced.
Benefits of Car Finance
Easy documentation – The company checks the repaying ability of the borrower and they arrange the documents to according your steady income.
Quantum of the loan – The manufacturers offer funding up to 100% of the car value. Users can also get car loans according to their needs.
Tenure – The repayment period varies from provider to provider. It ranges from 1 year to 7 years.
Prepayment – The users can prepay the loan when there is the availability of funds to complete the loan.
Documents required to get a car finance
- Identity Proof
- Address Proof
- Income Proof
