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Car loan Faqs

How will help me in getting the best car loan deal?

Lowest car loan rates:We have negotiated the best rates with HDFC Bank, Magma Fincorp, ICICI Bank and Mahindra Finance.

Car models:We have incorporated loan rates for almost all models and variants in the market.

Compare car loan rates:Compare car loan offers on the basis of maximum eligibility, EMI, processing fees & previous customer experience. provides you with all the required information to make a car loan choice in a transparent and easy manner.

The Trust provides a completely neutral car loan comparison and does not promote any one lender. does not charge you any fees to use these services.

Do I need to give collateral to get a car loan?

No, you don't need to give collateral. But you will have to hypothecate the car in the bank's/NBFC's name and an endorsement made in the Registration Certificate (RC) book of the vehicle.

How can I make comparison between car loan offers from different banks?

You need to consider a combination of monthly EMI and processing fee in the case of each offer. This is because even if the EMI is a little lesser, other factors like processing fee, advance EMIs, service charges, registration, insurance and other bank charges have to be factored into the total loan cost to help you arrive at a decision on the best and cost effective car loan offer.

Can I get finance for insurance and registration?

Most financiers consider ex-showroom price for financing. This price does not include cost of Insurance and registration.

Can I negotiate car loan interest rates?

Yes, it is possible for you to negotiate car loan interest rates in many cases, especially if your car loan amount is greater than 7.5 lacs. Car loan interest rates can be reduced by as much as 1% to 2% if you satisfy the criteria set forth by the banks for claiming such reduction.

Do I need a loan guarantor for my car loan?

No, a personal guarantor is not a must for your car loan. It is applicable only during instances where your credit profile does not match the lender’s requirements. Even then this can be taken care of by simply taking on a co-applicant.

The guarantor could be your father, mother, son, daughter, husband, brother, sister, son's wife etc. However for consideration of these relatives as guarantors for the loan, they should comply with the age and other such norms of the lending bank or NBFC.

Documents required

Identity Proof

Passport, Voter ID, Driving License, PAN Card, Photo attested by Banker, Adhar card

Date of Birth

Birth Certificate, Passport, secondary school Certificate, PAN Card


One latest Passport size

Residence Proof

Electricity Bill, Title Deed, Municipal Tax Receipt, Share Certificate (with Flat No),Adhar card

Registered Rent agreement (with utility bill), Land line bill,Post Paid Mobile Bill, Bank state., Passport, Driving License, Voter ID, company letter head(signed by HR or Admin)

Land line bills (Optional as per policy), Relationship Proof ( if bill is of relation as specified)

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