Some dreams are considered to be so sacred that they never come true. Owning a car which will enhance your reputation was one such dream until recent times due to the high price of any vehicle in India. But with easy EMI options and attractive interest rates, banks and NBFCs started offering car loans. These loans are specifically designed to buy a car or any other vehicle for that matter. By opting to take a car loan, now you can touch the golden dream of owning a car. Many banks and NBFCs also offer Used Car Loans. If you are interested in buying a previously used car or a second hand car, banks will help you in that aspect too.
What are the Documents Required to avail a Car Loan?
The list of documents for availing a car top up loan changes whether you’re a salaried applicant or a self-employed professional/ businessman. The process of getting a car top up loan can be made easier if you know exactly what documents you need to submit with your application. The documents are filed according to the eligibility criteria.
- Passport-size photographs.
- Identity and signature proof - Passport, Pan card, Driving License, Voter ID card, Aadhar card, employee identity card in case of government employees.
- Address Proof - Bank statement, Rent Agreement, Voter ID card, Ration card, Passport, Driving License, telephone/electricity/water/credit card bill or Property tax.
- Age Proof - Voter ID card, Secondary school leaving certificate (class 10), birth certificate, Passport, Aadhar Card, pension payment order or receipt of LIC policy.
- Salary slips of last 3 months..
- Form-16 issued by current employer.
- Bank statements of last 6 months.
- Copy of details of all existing loans.
- A cheque covering the administrative costs/processing fees incurred by the bank in processing the application.
- Property papers with OC and CC
- Business proof (registration of business).
- Copy of ITR/Assessment Orders of 3 years.
- Copy of challans proving that Advance Income Tax has been paid.
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- +91 8448616364
- prince@loansneed.com
- Office Number 402/403, Jain Complex, Opposite Metroplex Mall, Nirman Vihar, Delhi 110092