Car Loans
Find New Car Loan in India !
Many Banks & Financial Companies Provides Car Loan in India with simple, fast & free Car financing process.
We specialize in helping people own the new or used car they really want at monthly payments they can afford with our bad credit car loan program. Second chance car loans are available in every state regardless of credit history.
The online car loans programs change on a daily basis so even if you have been turned down before it won't cost anything to complete our financing application.
ICICI bank car loan india
Turn your dream into reality. Own that new car you have always desired, with a little help from us. ICICI Bank offer loans up to 100% of 'on-road' cost on select models, and up to 95% of the ex-showroom price on others. Our interest rates would pleasantly surprise you. What's more, you can take up to 7 years to repay the loan. Worried about paperwork? Relax. The process for getting a loan involves only a few simple steps and ICICI Bank will tailor-make the loan to suit your needs.Auto loans: 'Consumers should wait and watch'.
Bankers have refused to commit whether there will be a hike in car loan rates after the liquidity tightening measures announced by Reserve Bank of India.
The Credit Policy announced by RBI Governor, Dr Yaga Venugopal Reddy has brought about a 50 bps hike in the Cash reserve ratio (CRR) that the banks should keep with the central bank. There is a general expectation that the policy shall stall the pace at which the interest rates or lending rates were expected to reduce.
According to experts, it will take some time (around 10-15 days) to see the effects of the credit policy on the car loan front and the consumers are asked to 'wait and watch'.
There is cause for some worry if we go by what banks have to say. As Ravi Narayan, head of auto financing, ICICI safely puts it, "With a CRR hike, some amount of liquidity is going to be sucked out of the system. As this happens there is a chance of some stress on interest rates. The stress can be with or without an increase in interest rates."
However, car manufacturers are hopeful that better product and marketing initiatives will help them overcome any upward trend in interest rates.
As a spokesperson of an Indian car manufacturer puts it, "The Credit Policy has a say on how the loan market is going to behave. An increase in car loan rates definitely demoralises the customer. But we come up with better marketing initiatives to buffer the effect and get around the tough times created by monetary policies."
This particular car manufacturer showed an improvement in their sales last year of around 2 per cent when the other car manufacturers saw their sales going down. Though most of the banks have assured of no knee-jerk reaction in car loan rates at present, the manufacturer is wary of the backlashes.
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We deal with all major banks which include ICICI Bank, HDFC Bank, Axis Bank (formerly UTI Bank), State Bank of India, Banks compete to provide car loan to the customers and you also get the advantage of a single window. We do it fast as well. |  | |
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