1. TVS Credit

Car loan with bad credit options are available for salaried and self-employed individuals with the following features and benefits:

• Finance available for any car model manufactured in India
• Hassle-free online approval and minimal paperwork
• ‘No-income document scheme’ allows you to avail a car loan without income proof document that in turn covers a wider customer base
• Loan eligibility is very high
• Up to 48 months of payback period

2. Sundaram Finance

Sundaram Finance Ltd. is a trusted company in finance with transparency in their dealings. Key features are as below:

• Waiting period is very less
• Low EMI
• Competitive rates of interest
• Loans for imported cars
• Loans for NRIs
• ‘Money on Wheels’ which is a pre-approved loan on your already existing car loan

3. Capital First

Capital First is an NBFC that provides a variety of financial aids attractive offers at affordable interest rates. Important features of the loan are:

• 100% Loan-to-Value for their dream car
• Minimal documentation
• Competitive and affordable rate of interest
• Flexible payback options available

4. AU Financiers

AU Financiers is an NBFC based in Rajasthan with over 218 branches in India. Key benefits of availing a car loan from them are:

• AU Financiers provide financial aid to salaried individuals, self-employed, and companies
• Eligibility of a co-obligor to the car loan
• High Loan-to-Value ratio based on borrower’s profile

5. Magma Finance

Magma has a much-diversified portfolio in their company history. They truly believe in making their customers dream come true.

• Minimal documentation of quick processing
• Flexible payback options as EMIs, ECS, auto debit, and post-dated cheques
• Known for 5-star customer service and doorstep facilities.
• Easy loans – existing Magma clients with 12 months of good payback history
• Competitive interest rates
• Salaried professionals can avail up to 3 times their total annual income
• Self-employed can avail up to 6 times their annual salary

6. Reliance Capital

The financial services company of Reliance Anil Dhirubhai Ambani Group is Reliance Capital. They have the following benefits:

• Extremely quick service
• Loan amount up to 90% of ex-showroom price
• Loan tenure between 1 and five years
• Get applications approved within 24 hours following documentation
• Prepayment is possible after six months of acquiring the loan

7. Mahindra Finance

Mahindra provides diverse loan options that are customizable and flexible payback options. Other key features include:

• Fast approval of car loans
• Avail low-interest rates and up to 100% ex-showroom financing
• Minimal documentation

8. Tata Capital

TATA Capital offers personalized car loans for the entire range of cars, premium cars, SUVs, MUVs, and crossover vehicles. Tata Capital could be the right choice to finance your dream car considering the following benefits:

• Customized loan amount according to the car model
• Loan tenure is between 1 and five years
• Low EMI
• Low margin money
• Low rate of interest
• Speedy documentation
• Fast disbursal of car loan
• Funding of up to 90% of the car ex-showroom price

9. Shriram Car Finance

Shriram City Union Finance is one of the leading NBFC in the country. Apart from the regular services they offer the following benefits:

• Flexible repayment tenure between 12-36 months based on the borrowers’ capacity
• Best charges and interest rates in the market

10. HDFC Bank

HDFC is a core banking powerhouse, yet it also provides NBFC services like small loans microfinance. HDFC car loan features are as follows:

• Loan approval and release in within two working days
• Lowest down payment with up to 100% LTV
• Hassle-free, transparent, and quick loan processing
• Fixed rate of interest that provide protection against the market fluctuations
• lowest EMI option available
• ‘No Income Document Scheme’ accepted
• Payback tenure stretches up to a long seven years.