Car Loan
Car loans for new and used vehicles
Compare car loan offers in one screen
New cars, certified pre-owned, refinance and balance transfer - all from RBI-licensed banks and NBFCs on the marketplace. Loan-to-value up to 90 percent on new and 70 percent on used. Rates from 8.95 percent on new, 11.99 percent on used. Soft-pull eligibility check, no impact on your CIBIL score.
What we cover
Every car loan use case in one place
New car loan
Showroom purchase across major brands. LTV up to 90 percent of on-road price for salaried borrowers, 85 percent for self-employed. Tenor up to 7 years. Most lenders disburse the same day documents are complete.
Used / pre-owned car loan
Loans on cars up to 8 years old at the time of loan maturity. LTV up to 70 percent of the certified valuation. Higher rates than new (typically 11.99-15 percent) reflect the higher residual-value risk.
Refinance / balance transfer
Move an existing car loan to a lower-rate offer. Worth doing when the rate gap exceeds 1 percent and you have 18+ months tenor remaining.
EV-specific schemes
Several lenders offer 0.25-0.50 percent rate concession on electric vehicles, longer tenors (up to 8 years) and higher LTV (up to 95 percent on cars under INR 15 lakh).
Commercial vehicle loan
Light commercial vehicles, taxi-segment cars, fleet purchases. Different LTV / rate matrix; we route to the lender panel that handles commercial-vehicle underwriting.
On-road EMI calculator
Modelled on real on-road price including ex-showroom, road tax, registration, insurance and accessories. Lets you tweak down-payment, tenor and EV-rate concession to land on a comfortable EMI.
How it works
From eligibility to keys, in three steps
Soft eligibility check
Income, employment, the car you are buying. Three minutes, soft pull, no impact on CIBIL.
Pick the lender, complete documents
Lender takes over - hard pull, document verification (PAN, Aadhaar, salary slips, address proof, RTO eligibility for the vehicle).
Disbursal to the dealer
Most new-car loans disburse within 2-5 working days post-document. Used-car needs vehicle valuation by the lender's panel valuer, which adds 2-3 days.
Who it is for
Who borrows car loans through us
Free for borrowers. Lender pays only on disbursal.
The marketplace check is a soft pull and free. Lenders pay Infyner a small commission only when the loan is sanctioned and disbursed. The rate you see is the rate you pay.
Trust and security
How car loans on the marketplace work
Lender panel only
Public-sector banks, private banks and RBI-licensed NBFCs - no informal lenders, no dealer-finance schemes that hide a higher effective rate.
On-road numbers
Quotes are calibrated to on-road, not ex-showroom. Saves the surprise gap when registration and accessories add 12-18 percent to the headline price.
EV concessions surfaced
Where applicable, EV concessions are shown on the offer card - rate, LTV, tenor advantages all together.
Insurance separate
Bundled insurance from the dealer is usually overpriced. We surface standalone insurance options separately so the comparison stays apples to apples.
FAQ
Common questions about car loans
Lenders fund up to a percentage of the on-road price (which includes ex-showroom + road tax + registration + insurance) for new cars, but the LTV cap is on ex-showroom for some lenders. The offer card always shows what gets funded and what you contribute as down-payment, so you see the gap clearly.
For used cars, lenders fund up to 70 percent of the certified valuation by their panel valuer. The valuation is usually 5-10 percent below the seller's asking price for resale market vehicles. Net LTV after the valuation gap typically lands at 60-65 percent of the asking price.
New cars: up to 7 years for salaried borrowers, often 5 years for self-employed. EVs sometimes get 8 years. Used cars: depends on the vehicle's age - the loan should mature before the vehicle hits 8-10 years old, so a 4-year-old car might only get a 4-5 year loan.
Salaried: PAN, Aadhaar, three months' salary slips, six months' bank statement, address proof. Self-employed: PAN, Aadhaar, two years ITR, two years bank statements, business proof. Vehicle side: pro-forma invoice from the dealer (new), RC + valuation report (used).
Most lenders allow prepayment after 6-12 months of regular EMIs. Foreclosure charges range from 2-5 percent of outstanding principal. Some private banks waive foreclosure on car loans entirely as a relationship benefit; the offer card shows the exact term.
Sometimes - the dealer may have a subsidised rate from a single bank in exchange for volume commitment. Ask for it explicitly and run it through the marketplace as one of the quotes. If the dealer's offer beats the marketplace's best, take it. If it doesn't, you have leverage.
You apply with a new lender for a fresh loan equal to the outstanding on the existing loan. The new lender disburses to the existing lender, who closes the loan and releases the hypothecation. The car gets re-hypothecated to the new lender. End to end, 7-10 working days. Worth it if the rate gap saves more than the new processing fee.
No. Once you complete the last EMI, ask the lender for an NOC and a Form 35 (cancellation of hypothecation). Submit Form 35 to the RTO with a small fee to remove the hypothecation entry from the RC.
Yes - select lenders on the panel handle private-party transactions. The seller and buyer both go to the lender's branch (or a video-KYC session) for parallel verification. The lender pays the seller, the buyer takes possession, the RC transfer happens at the RTO.
Several lenders offer 0.25-0.50 percent rate concession on electric four-wheelers, plus LTV up to 95 percent on cars under INR 15 lakh and tenor up to 8 years. The concession is on the floating-rate base, so it tracks the broader rate cycle. We surface the EV offers separately on the comparison screen.