Auto Loan

While the specific requirements may vary between lenders, the general eligibility criteria for an auto loan include:

• Age: Applicants should typically be between 18 and 65 years old.
• Income: A stable income source, whether salaried or self-employed, is essential to ensure repayment capability.
• Credit Score: A good credit score (usually 700 or higher) can lead to quicker approval and lower interest rates.
• Employment Stability: Salaried individuals may need at least 1-2 years of work experience, while self-employed applicants should show consistent business income.
• Loan-to-Value Ratio: Lenders usually finance 80-90% of the vehicle’s on-road price, requiring the borrower to pay a down payment.
• Documentation: Basic documents like identity proof, address proof, income proof, bank statements, and vehicle-related documents (like the purchase invoice) are necessary.

At Vimala LD Services LLP, we streamline the auto loan process by connecting you with leading financial institutions and providing expert guidance to find the most suitable options. Whether you’re buying your first car or expanding your commercial fleet, we ensure a hassle-free experience, competitive interest rates, and personalized support. Drive your dreams with confidence—let us help you hit the road!