How to Choose the Perfect Car Loan

When you decide to buy a car, you typically consider several factors. You research various brands and models, car size and colour, the fuel it runs on, etc. Just as you go all out while finalising the right car for you, so should you research while choosing a lender for your Xpress Car Loan. Here are some tips to choose an Xpress Car Loan provider.

How to Get an Xpress Car Loan?

Consider these tips to get your Xpress Car Loan sanctioned quickly

  • Research the various lenders: Car Loan providers are aplenty. You can easily find the money, but what you need is the perfect deal that suits your budget. You need a lender who offers a paperless journey, attractive interest rates, and is also transparent about the charges and has tie-ups with reputed auto-dealerships. You also require a lender who approves the loan quickly and provides Xpress Car Loan benefits.

  • Ascertain your eligibility before applying: To ensure you can apply for the Xpress Car Loan easily without any hassles, you must first check if you are eligible for the loan. You can simply check for your eligibility when you apply for a Car Loan through the website. The Car Loan eligibility and EMI calculators will compute the best loan offers suited to your needs based on your profile. You can also calculate the EMI payable against various interest rates. Confirming these factors eases the Xpress Car Loan application process.

    Read more on how you can get pre-approved for a car loan by clicking here.

  • Leverage your negotiation skills: Another tip to choose an Xpress Car Loan is to use your negotiation skills to your advantage. Before beginning the Xpress Car Loan application process, you should contact the lender to check if you can get a better deal. You could speak about your high credit score, excellent income to debt ratio, and previous experience with loan repayment to tilt the tide in your favour. A little convincing can help you procure a favourable deal.

  • Approach your existing banker: A sure-shot tip to enhance your eligibility for Xpress Car Loans is to approach a bank with which you have an existing relationship. Such a bank typically has a record of your documents. It can also assess your savings and money-spending habits, including your credit card usage. Your existing bank is thus more likely to approve your loan than an unknown lender.

  • Select a lender offering maximum financing: Did you know that lenders like HDFC Bank offer 100% of the on-road price of select cars as the loan amount? You can find out more about the cars on which you can get this kind of financing. The 100% financing option saves you from making a substantial down payment. The bank typically offers 75% to 100% financing for various makes and models of different car brands.

How to Get an Xpress Car Loan in Simple Steps

HDFC Bank recently introduced Xpress Car Loans – an incredible online lending facility that allows you to apply for a Car Loan and get instant approval. Here’s how to get an Xpress Car Loan in three simple steps.

  1. Check if you are eligible for the loan by providing your name, date of birth, mobile number and PAN card number.

  2. Provide proof of your address, and income proof documents with the duly-filled online loan application form during the eKYC/Video KYC process.

  3. HDFC Bank assesses your application and approves your loan in 30 minutes.

Get your Xpress Car Loan Application in Today.

Now that you know how to apply for Xpress Car Loan, you can consider starting the loan application process here. Enjoy high-value loans up to ₹20 lakhs with 7-year repayment tenures and instant disbursals with HDFC Bank Xpress Car Loans. Click here ​​​​​​​to get started

*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Car Loan at the sole discretion of HDFC Bank limited. Loan disbursal is subject to documentation and verification as per Banks requirement.