Categorization of cars with loan, processing, eligibility and documents

In today's car market, prospective buyers have various options when it comes to financing their new vehicles. Here's a summary of the latest car loan details for popular car categories as of October 2023, considering a city like Mumbai:

Multi-Purpose Vehicle (MPV): Maruti Ertiga

• Price (Rs.): Varies (Please check the latest price from a reliable source)
• Eligibility for loan: Salaried individuals aged 21 to 60, with a minimum one-year employment history, and self-employed individuals aged 21 to 65.
• Loan amount: Typically 50% of the car price
• EMI (Rs.): Varies based on the loan amount, tenure, and interest rate.
• Interest Rate: Typically ranging from 9.80% to 12.50%
• Loan Tenure: Usually between 1 to 7 years
• Down Payment: 10% of the car's ex-showroom price
• Processing Fees: Varies (up to Rs. 10,000)
• Cash Discount: Check for ongoing discounts and offers
• Freebies: Subject to promotions and dealership offers
• Documents Required: Similar to those mentioned in the original article, including proof of identification, address, income, and bank statements.

Sedan: Honda Amaze

• Price (Rs.): Varies (Please check the latest price from a reliable source)
• Eligibility for loan: Salaried individuals aged 21 to 60, with a minimum one-year employment history, and self-employed individuals aged 21 to 65.
• Loan amount: Typically 50% of the car price
• EMI (Rs.): Varies based on the loan amount, tenure, and interest rate.
• Interest Rate: Typically ranging from 9.80% to 12.50%
• Loan Tenure: Usually between 1 to 7 years
• Down Payment: 10% of the car's ex-showroom price
• Processing Fees: Varies (up to Rs. 10,000)
• Cash Discount: Check for ongoing discounts and offers
• Freebies: These may include first-year insurance, extended warranty, or exchange bonuses.
• Documents Required: Similar to those mentioned in the original article.

Hatchback: Ford Figo

• Price (Rs.): Varies (Please check the latest price from a reliable source)
• Eligibility for loan: Salaried individuals aged 21 to 60, with a minimum one-year employment history, and self-employed individuals aged 21 to 65.
• Loan amount: Typically 50% of the car price
• EMI (Rs.): Varies based on the loan amount, tenure, and interest rate.
• Interest Rate: Typically ranging from 9.80% to 12.50%
• Loan Tenure: Usually between 1 to 7 years
• Down Payment: 10% of the car's ex-showroom price
• Processing Fees: Varies (up to Rs. 10,000)
• Cash Discount: Check for ongoing discounts and offers
• Freebies: These may include first-year insurance, extended warranty, or exchange bonuses.
• Documents Required: Similar to those mentioned in the original article.

Executive Sedan: Toyota Corolla

• Price (Rs.): Varies (Please check the latest price from a reliable source)
• Eligibility for loan: Salaried individuals aged 21 to 60, with a minimum one-year employment history, and self-employed individuals aged 21 to 65.
• Loan amount: Typically 50% of the car price
• EMI (Rs.): Varies based on the loan amount, tenure, and interest rate.
• Interest Rate: Typically ranging from 9.80% to 12.50%
• Loan Tenure: Usually between 1 to 7 years
• Down Payment: 10% of the car's ex-showroom price
• Processing Fees: Varies (up to Rs. 10,000)
• Cash Discount: Check for ongoing discounts and offers
• Freebies: These may include accessories packages or dealership promotions.
• Documents Required: Similar to those mentioned in the original article.

SUV: Hyundai Creta

• Price (Rs.): Varies (Please check the latest price from a reliable source)
• Eligibility for loan: Salaried individuals aged 21 to 60, with a minimum one-year employment history, and self-employed individuals aged 21 to 65.
• Loan amount: Typically 50% of the car price
• EMI (Rs.): Varies based on the loan amount, tenure, and interest rate.
• Interest Rate: Typically ranging from 9.80% to 12.50%
• Loan Tenure: Usually between 1 to 7 years
• Down Payment: 10% of the car's ex-showroom price
• Processing Fees: Varies (up to Rs. 10,000)
• Cash Discount: Check for ongoing discounts and offers
• Freebies: These may vary based on dealership promotions.
• Documents Required: Similar to those mentioned in the original article.

Please note that the prices, interest rates, and loan terms mentioned here are indicative and can vary based on the latest market conditions and individual financial profiles. It's essential to consult a reliable financial institution or dealership for the most up-to-date information.