Gone are the days when owning a car was dream for many. Eprimeloans offers to you best ever car buying online platform that negotiates with lenders and provide slew of attractive financing options to its customers. It not only enables you to compare Car loan interest rates offered by different banks but also help you to calculate your car loan EMI using Car Loan EMI Calculator and check car loan eligibility using Car Loan Eligibility Calculator.
Car loan Eligibility enables you to check your eligibility for availing a car loan. Whether you are salaried, self employed or a businessman, you can easily check your car loan eligibility by having look at the table common eligibility criteria mentioned below.
|Age||Applicant should be 21-60 years||Applicant’s age must be between 21-65 years|
|Income||Applicant’s minimum annual income should not be below Rs. 1,80,000 is required.||Applicant’s minimum annual income should not be below Rs. 1,80,000|
|Job/Business Status||Work experience of atleast 2 years with a minimum of 1 year with the current employer||A minimum of 2 years in the same line of business is needed|
Your car loan eligibility is based on different parameters. Eprimeserve’s car loan eligibility calculator uses your income as the main parameter to calculate estimated Car loan eligibility. It gives an individual a fair approximation of the amount he is eligible for loaning. The Car loan EMI calculator also help you to know the lenders who can provide you with the expected car loan amount under your eligibility conditions. Car loan EMI calculator saves your time and money in approaching lenders.
Car loan EMI calculator calculates your car loan EMI and has many benefits that are listed below.
Documents required for acquiring a car loan vary from lender to lender and one cannot do without submitting the rights documentation which is the established proof of your identity, age, income and address.
|Documents ID||Individuals||Firms, Partnerships|
|Signed Application Form||Applicant must submit dully filled application form||Firms/ Partnership companies are required to submit dully signed application form|
|Identity Proof||Passport, PAN card, Driving License, Voter id, Aadhaar Card, Government issued i-card||PAN card, Voter id, Driving License, Aadhaar Card, Passport, Government issued i-card|
|Certificate and Proof of Business Existence||NA||PAN , Trade license, sales tax/ excise/ VAT/ service tax registration, Copy of partnership deed, certificate of practice, registration certificate issued by RBI|
|Address Proof||Passport, Election ID card, Driving License, Electricity/ Telephone/ Mobile bill/ bank statement (not more than 3 months old)||Utility bill, Registry copy, Bank statement, lease or rent agreement, TAN allotment letter leaving certificate.|
|Age Proof||PAN card, Passport,Voter id card, Driving License, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college||Passport, Driving License, PAN card, Voter id card, Birth certificate, Employee ID card (only for PSU/ Government employees), School/ college leaving certificate.|
|Income Proof||Form 16, last 3 months salary slip, last 3 months' bank account statement showing salary credit||Last 3 months bank account statement, Last 2 years ITR|
|Car Quotation||You also need to submit car quotation showing cost of the car that your dealer had given||Car quotation from dealer|
Bank may charge a penalty in case you skip to make EMI payment or if your ECS bounce. Make a note that this will get reflected in your CIBIL report which may affect your CIBIL score.
Using EMI calculator, you can easily find out the accurate EMIs you are required to pay in future. The tool is quick and easy to use. It can be used for n number of times, that too for free. Best part is that the EMI calculator results are instant and accurate whereas calculating EMI manually may have human error and is time taking. Also, you can fill in varying combinations of the loan tenure, loan amount and interest rates to get revised results.
If you are someone who falls under the following categories, then you can easily avail a car loan:
• Salaried individuals
• Self-employed individuals
• Partnership firms
• HUFs and Trusts
• Partnership firms
No, the car loan EMI calculator at Eprimeloans site is available for free, no charge at all. There’s no need of making a new login ID to use the Car Loan EMI Calculator on Eprimeloans website.
Yes, of course. You an avail Car loan for maximum tenure of 7 years. Your vehicle loan tenure has direct impact on your monthly EMI. This simply means Longer the tenure of vehicle loan, lower will be your car loan EMI.