Vehicle Loan
At VFinancial, we understand that getting the right vehicle loan can open doors to new opportunities—whether you’re buying a sleek new car, a reliable pre‑owned bike, or a commercial vehicle for your business. Our fast‑track approval and disbursal process means you can have funds in your account within days, and with financing up to 90% of the on‑road price, flexible tenures of 12–60 months, and minimal documentation, hitting the road has never been easier.
Key Features:
- Access to Immediate Funds
- Flexible Loan Tenures
- Fixed Interest Rates
- Customized Loan Amounts
- Convenient Monthly Repayments
- Potential Tax Benefits
- Option for New and Used Cars
- Ownership from Day One
- No Need for Full Upfront Payment
- Improve Credit Score through Timely Payments
1. What is Vehicle Loans?
A car loan is a type of loan specifically used to purchase a vehicle, such as a car, truck, or motorcycle. The borrower receives a lump sum from the lender, which is then repaid over time with interest. The vehicle being purchased serves as collateral for the loan, and if the borrower fails to repay the loan, the lender has the right to repossess the vehicle. Car loans typically have fixed monthly payments and a fixed term, ranging from a few years to several years, depending on the loan amount and terms.
2. Do I need to provide collateral for a vehicle loan?
No, most of our vehicle loans are unsecured, meaning no collateral is required.
3. What documents do I need to apply for a vehicle loan?
You will need basic KYC documents (ID proof, address proof, income proof), along with vehicle-related documents (such as the purchase invoice and insurance details).
4. Can I pay off my loan early?
Yes, we offer prepayment and part-payment options without penalties, allowing you to pay off the loan early or reduce your tenure.
5. What happens if I miss a payment?
Late payments may incur penalties and could affect your credit score. Please inform us if you anticipate any delays, and we can work out an arrangement.