2. BUYING A USED CAR / NEW CAR
• FOR BUYING ANY CAR, A NEW OR A USED ONE, CAR LOANS ARE
EASILY AVAILABLE NOWADAYS.
• USED CARS, ALSO CALLED PRE-OWNED CARS, ARE A GOOD
OPTION FOR THOSE WHO WANT A BIGGER VEHICLE AT AN
AFFORDABLE PRICE, AND ALSO FOR THOSE WHO DON’T WANT
TO DENT THEIR NEW CARS.
• BOTH NEW CARS AND OLD CARS HAVE THEIR OWN
ADVANTAGES; HENCE, IT IS VERY IMPORTANT TO WEIGH THE
PROS AND CONS ACCORDING TO THE UTILITY AND
AFFORDABILITY.

3. BUYER’S CREDIT HISTORY
 ONCE THE TYPE OF CAR IS DECIDED, THERE COMES THE CAR LOAN,
WHICH REQUIRES THE BUYER’S CREDIT HISTORY.
 TO ESTABLISH THAT, A BUYER SHOULD OPT FOR A CREDIT CARD OR ANY
OTHER KIND OF PAYMENT SYSTEM WHERE HE IS ABLE TO SHOW A
RECORD OF AT LEAST 6 MONTHS AS A REGULAR RE-PAYER.
 FOR THE FIRST TIME BUYERS, THIS BECOMES WORRISOME WHEN THEY
DO NOT HAVE A CREDIT HISTORY OR IF THE CREDIT IS BAD. HOWEVER,
THIS DOES NOT MEAN THAT PEOPLE WITH POOR OR BAD CREDIT CANNOT
BUY A CAR.
 HDFC CAR LOAN FOR PEOPLE WITH BAD CREDIT CERTAINLY ACTS AS A
SAVIOUR FOR SUCH PEOPLE.

4. ELIGIBILITY CRITERIA
• HDFC CAR LOAN DOCUMENTATION: CAR LOAN DOCUMENTATION PROCESS IS MINIMAL AND GENERALLY BANKS REQUIRE THE
FOLLOWING DOCUMENT
• IDENTITY PROOF: NAMELY A COPY OF THE PASSPORT OR PAN CARD OR VOTER’S ID OR DRIVING LICENSE.
• INCOME PROOF: IN THE FORM OF USUALLY THE LATEST SALARY SLIP WITH THE LATEST INCOME TAX FORMS (FORM 16 IN THE
CASE OF THE SALARIED INDIVIDUAL, ITR FORM IN THE CASE OF A SELFEMPLOYED INDIVIDUAL).
• RESIDENCE PROOF: IN THE FORM OF A RATION CARD OR DRIVING LICENSE OR VOTER’S ID OR PASSPORT COPY OR
TELEPHONE BILL OR ELECTRICITY BILL OR LIFE INSURANCE POLICY OR PAN CARD.
• BANK STATEMENT: A COPY OF THE BANK STATEMENTS PERTAINING TO THE MOST RECENT AND RELEVANT TIME FRAME.

5. HDFC CAR LOAN INTEREST RATES
• NEW CAR LOAN – 10.25-13.25% [ REDUCING )
• USED CAR LOAN – 14.25-17.75% ( REDUCING )
• ATTRACTIVE INTEREST RATES ON CAR LOANS
• BORROW UP TO 3 - 6 TIMES YOUR ANNUAL INCOME
• SPECIAL BENEFITS FOR HDFC BANK ACCOUNT HOLDERS
• AVAILABLE FOR ALL CAR MODELS AT ATTRACTIVE INTEREST RATES
• HDFC CAR LOAN TENURE 1 YEAR TO 7 YEARS
• NO GUARANTOR REQUIRED

6. THE POINTS TO BE NOTED IN A HDFC CAR
LOAN AGREEMENT ARE:
• EFFECTIVE DATE: THE STARTING DATE OF THE REPAYMENT, THE TENURE AND THE LAST REPAYMENT DETAILS.
• DEFAULT CRITERIA: THE BASIC CRITERIA MENTIONED WHEN THE BUYER FAILS TO PAY ON DATE. THIS INCLUDES
THE PENALTY DETAILS AND THE EXTENDED DATE FOR REPAYMENT.
• REPAYMENT SCHEDULE: THE SCHEDULED DATE OF REPAYMENT, WHICH INCLUDES THE PRINCIPAL AMOUNT
WITH THE RATE OF INTEREST.
• SET OFF: THE BANK OR THE LENDERS HAVE THE FULL RIGHT TO SET OFF ANY INSURANCE CLAIMS OR THE
SECURITIES IN CASE OF DEFAULT CONDITION.
• INSPECTION: THE LENDER HAS THE RIGHT TO CHECK OR VIEW ANY DOCUMENTS DURING THE TENURE.

7. HDFC BANK EMI CALCULATOR
• CHECK OUR CAR LOAN REVIEWS SECTION AND CHOOSE THE BEST
BANK FOR THE CAR LOAN AND APPLY RIGHT AWAY.
• YOU CAN ALSO CALCULATE YOUR CAR LOAN EMI WITH THECAR
LOAN EMI CALCULATOR AVAILABLE AT BANKBAZAAR.COM

8. HOW TO GET HDFC BANK CAR LOANS AT
BANKBAZAAR.COM
• ELIGIBILITY CALCULATOR: FILL THE FORM ABOVE TO INSTANTLY GET
CUSTOMIZED HDFC BANK CAR LOAN QUOTES THAT YOU ARE ELIGIBLE FOR.
• COMPARE CAR LOAN OFFERS: COMPARE CUSTOMIZED CAR LOAN OFFERS
FROM HDFC BANK BASED ON YOUR ELIGIBILITY CRITERIA AND APPLY
ONLINE.
• YOUR CAR LOAN APPLICATION WILL BE SENT ELECTRONICALLY TO HDFC
BANK. HDFC BANK WILL CONTACT YOU WITHIN ONE DAY.
• BANKBAZAAR.COM WILL UPDATE YOU ON YOUR LOAN APPLICATION
STATUS VIA EMAIL & SMS ALERTS

9. CONTACT US
• FOR MORE INFORMATION ABOUT HDFC BANK CAR LOANS
PLEASE VISIT:
WWW.BANKBAZAAR.COM/HDFC-CAR-LOAN.HTML