The car is the security
The lender takes a charge on the vehicle. You use the car while the loan runs, and the charge is released when they close the account.
Home Car Loan
A car loan, placed with the right lender.
Finance for a new or used car, with the vehicle as security. VAP Money prepares the file and coordinates it with banks and NBFCs.
Overview
A car loan, matched to the vehicle.
Buyers who have chosen a car, or are close to it, use a car loan when the vehicle can stand as security. The lender looks at the car’s price, the down payment, and income that can support the EMI. A used car is considered on the age, valuation, and papers that lender accepts.
New or used, on the quotation
The dealer or seller quotation sets the price. Used cars are limited to the age, kilometres, and valuation that lender will fund.
The decision stays with the lender
Amount, interest, fees, and tenure are quoted after the lender checks income and the vehicle. VAP Money coordinates that application.
Features and benefits
What the arrangement is meant to do.
Lenders that fund vehicles
The quotation and income papers can be discussed with banks and NBFCs that sanction new and used car loans.
The quotation before the application
Proforma invoice, identity, and income papers are gathered before the lender starts valuation.
A person on the file
The VAP team stays with the application through the lender’s verification, until that lender sanctions or declines.
Repayment on the lender’s terms
EMI, down payment, and release of the vehicle charge follow the sanction letter. We do not quote a rate until a lender has assessed the car.
Eligibility and documents
What lenders usually ask to see.
These are the checks banks and NBFCs commonly apply to a car loan. The final criteria, including the vehicle’s age and the down payment, are theirs.
Eligibility
- A new or used car the lender will fund, with a quotation or invoice.
- Income and banking that can support the proposed EMI.
- A down payment in the range that lender asks for.
- For a used car, age, ownership, and valuation the lender is willing to accept.
Documents
- KYC of the buyer and any co-applicant.
- Proforma invoice or quotation, and for a used car the RC and insurance the lender asks for.
- Income papers and bank statements for the period the lender specifies.
- Existing loan statements, if another vehicle or personal facility is already running.
How to apply
Three steps from enquiry to the lender’s desk.
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01
Requirement
Share your name, mobile number, and what the loan is for. Use the form on this page.
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02
Papers
We tell you which KYC, income, and banking documents the matched lenders expect.
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03
Decision
The bank or NBFC verifies the file and decides sanction, rate, fees, and when funds are released.
Enquiry now
Tell us the car loan you need.
Submit the form and the enquiry is emailed to info@vapmoney.com. You can also call +91 98110 52842 or write to info@vapmoney.com.