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About SIMFINN Automobile Loan

SIMFINN’s Automobile Loan is designed to make the dream of owning a new or used car a reality. Whether you are looking to purchase a brand-new vehicle or a pre-owned car, SIMFINN offers flexible financing options with competitive interest rates, fast approval, and minimal documentation. Our loan is tailored to suit your needs, helping you drive away in your desired automobile with ease, while offering customizable repayment tenures that fit your financial capacity.

With SIMFINN’s Automobile Loan, you can access high loan amounts with easy eligibility criteria and a quick disbursal process. We provide financing for a wide range of vehicles, including sedans, SUVs, hatchbacks, and two-wheelers, along with the option to finance up to 100% of the vehicle’s value, depending on the applicant’s profile. With the convenience of online applications and transparent processes, SIMFINN makes the car buying process seamless and stress-free.

Features & Benefits of Automobile Loan

Competitive Interest Rates

SIMFINN offers attractive and competitive interest rates, making it an affordable financing option for purchasing your desired vehicle.

Flexible Repayment Tenure

Choose from a wide range of repayment tenures, typically from 12 months to 7 years, allowing you to structure your loan based on your budget and financial capacity.

Quick Approval & Disbursal

With a hassle-free approval process and fast disbursal, you can get the funds in your account quickly, enabling you to finalize your car purchase without delays.

Up to 100% Financing

Depending on your eligibility, you can avail of up to 100% financing on the ex-showroom price of the vehicle, making it easier to own your desired car without draining your savings.

Wide Range of Vehicle Options

SIMFINN provides financing for a wide variety of vehicles, including new cars, used cars, SUVs, sedans, and even two-wheelers, giving you flexibility in choosing your vehicle.

Minimal Documentation & Easy Application

The loan application process is simple, with minimal paperwork and the option to apply online or through a branch, ensuring a smooth and efficient experience.

Automobile Loan Eligibility Criteria

Age Requirement

The applicant must be between 21 and 65 years of age at the time of application to ensure that they have sufficient time for loan repayment and financial stability.

Income Proof

For salaried individuals, a minimum monthly income of ₹20,000 is typically required. Self-employed individuals should have a stable income source with sufficient earnings to meet the loan repayments.

Employment/Business Stability

Salaried applicants should be employed with a minimum of 1-2 years of work experience with their current employer. For self-employed individuals, the business should be operational for at least 2-3 years.

Credit Score

A CIBIL score of 650 or above is generally preferred for securing a loan with favorable interest rates. A strong credit history improves eligibility and helps in quicker approval.

Down Payment

Depending on the loan amount and vehicle type, a down payment ranging from 10% to 20% of the vehicle’s value may be required, reducing the loan burden and increasing approval chances.

Vehicle Type & Age

SIMFINN offers loans for new and used vehicles. For used vehicles, the car should be no older than 5-7 years from the date of manufacture to be eligible for financing.

Loan EMI: 0 INR

Total Interest: 0 INR

Total Payment: 0 INR

Our Clients

Our home loan clients trust us to provide tailored financial solutions that make homeownership more accessible and affordable. With competitive interest rates, flexible repayment options, and a seamless application process, we help individuals and families achieve their dream of owning a home. Our commitment to customer satisfaction ensures personalized service and expert guidance at every step.

98%

Satisfied Customers

84%

Home Loans Disbursed

88%

Loan Approval Rate

Documents Required For Automobile Loan

  • Aadhaar Card
  • PAN Card
  • Voter ID
  • Passport
  • Driving License

For Salaried Individuals:

  • Last 3 months' salary slips
  • Latest Form 16
  • Last 6 months’ bank statements showing salary credits

 

For Self-Employed Individuals:

  • Income Tax Returns (ITR) for the last 2 years
  • Profit & Loss Statement and Balance Sheet for the last 2 years
  • Last 6–12 months' bank statements showing business income
  • Proforma invoice or quotation from the authorized dealership
  • Vehicle Registration Details (for used car purchases)
Utility bills (electricity, water, gas) or bank statements with the applicant's current address, not older than 3 months

In case of a used vehicle loan, provide original sale agreement and vehicle ownership transfer papers

Duly filled and signed SIMFINN Automobile Loan application form

Take Next Step & Manage Your Immediate Financial Needs Now. Turn Your Dream Car into Reality with SIMFINN!
Affordable Automobile Loan with Easy Approvals & Flexible EMIs

Apply Now

FAQs About Automobile Loan

An Automobile Loan is a type of financing that allows you to borrow money to purchase a new or used vehicle. The loan amount is disbursed by SIMFINN, and you repay it in monthly installments over a period, with interest, based on the loan agreement.

The maximum loan amount depends on the vehicle price, your creditworthiness, and the down payment you can make. SIMFINN offers up to 100% financing of the vehicle’s ex-showroom price, depending on your eligibility.
The repayment tenure for an Automobile Loan can range from 12 months to 7 years, giving you flexibility to choose a duration that fits your budget and financial planning.
Yes, SIMFINN offers loans for both new and used vehicles. For used cars, the vehicle must be no older than 5–7 years from the date of manufacture to be eligible for financing.
SIMFINN offers competitive interest rates on Automobile Loans, which may vary based on factors like your credit score, loan amount, and repayment tenure. The rates are generally lower than those of unsecured loans.
Yes, a down payment of 10% to 20% of the vehicle’s ex-showroom price is usually required, depending on the loan amount and your eligibility. This reduces the loan amount and helps in securing approval.