You name it, and First Bank can help get you there faster with a comprehensive auto loan. Come in and discuss your needs with our lending team, and let them help you get out on the open road, with access to funds in as few as 24 hours. Perfect for you if: You need to buy a car or truck.
Simply so, can I get car loan with 30k salary?
If you have a monthly income of Rs 30,000 and aspire to buy a car, you can get a list of models including Tata Tiago, Tata Indica eV2, Maruti Suzuki Celerio, Hyundai i10 to choose from. (In Rs.) (In Rs.) (In Rs.)
Likewise, people ask, how much car loan can I get on 25000 salary?
Most lenders determine the maximum loan amount up to 10 times of your monthly salary. If you earn Rs. 25,000 per month, you may become eligible for up to Rs. 2.5 Lakhs.
How much car loan can I get on 40000 salary?
It is advised to customers that they restrict their car loans to not more than 20 percent of their monthly income. For example, if you make Rs. 40,000 per month, your monthly car loan EMI should not exceed Rs. 8,000.
A good rule of thumb for a down payment on a car loan is 20 percent of the purchase price. A down payment of 20 percent or more is a good way to avoid being “upside-down” on your car loan (owing more on the car than it’s worth).
The 5 best ways to finance your new car
- Cash/savings. If you are in a position to pay for the entire cost of a car with money saved in the bank, then you’re onto prize number one. …
- Hire purchase. …
- Personal loans. …
- Personal Contract Plan. …
- Personal lease.
Where can I get preapproved for a car loan?
- Credit unions. Your local credit union could be a great first place to check. …
- Banks. National banks have great name recognition and inspire borrower confidence. …
- Online lenders. Without the overhead that credit unions and banks face, online lenders can offer competitive rates.
Top 10 Banks for Car Loan in India
|Name of the Lender||Interest Rate (p.a.)|
|HDFC Bank||Starting from 8.90% (Please contact the bank for updated rates)|
|Axis Bank||9.05% to 11.30%|
|Canara Bank||8.75% to 11.30%|
Best Car Loan Rates of November 2021
- Best Overall: PenFed Credit Union.
- Best Online Auto Loan: LightStream.
- Best Bank for Auto Loans: Bank of America.
- Best Credit Union for Auto Loans: Consumers Credit Union.
- Best for Used Cars: Chase Auto.
- Best for Bad Credit: myAutoloan.
- Best for Refinance: AUTOPAY.