Car Loan - Frequently Asked Questions

Clear your doubts

Find the answers to all your questions on car loans, right here.

At Tata Capital, we offer loans with multiple repayment options. Our Flexi EMIs allow you to choose a plan that suits your need as per your cash flow.

Step Up Flexi EMI plan

Increase your EMIs gradually, every year, and repay your loan conveniently.

Is it ideal for me?

If your EMIs are burning a hole in your pocket, this plan will give you the much-needed relief. It gives you the freedom to increase your EMI along with your yearly pay hike.

Step Down Flexi EMI plan

Lowers your EMI, every year, and repay your loan faster.

Is it ideal for me?

Opt for this plan if you have a high disposable monthly income. It is especially ideal if you are planning to retire and wish to build an asset quickly.

Bullet Flexi EMI plan

Allows you to prepay your loan in parts at periodic intervals and lower your EMI considerably.

Is it ideal for me?

If you are expecting a bonus or periodic increments on your regular income, this plan is apt for you.

We finance almost all passenger cars and multi-utility vehicles manufactured by India's leading automobile companies. Imported vehicles are also funded on case-to-case basis.

The tenure of loan could be from one to maximum seven years for new cars and for used cars. The age of the car at loan maturity should not cross 9 years subject to maximum loan tenure of 5 years and vehicle type.

The stages of availing a car loan include:

  • Application
  • Processing
  • Documentation
  • Sanctioning of the loan
  • Disbursement


These are generally approved within 24-36 hours of submission of the complete document.

No additional security/collateral needs to be provided, apart from the car against which the loan is granted, being hypothecated to Tata Capital documentation.

Generally, no. But if your income does not meet our credit criteria, then you may require a guarantor to stand surety for your loan.

Your spouse or any blood relative staying in the same residence as yours can be a co-applicant.

The loan can be repaid through ECS, Direct debit and post-dated cheques drawn on "Tata Capital Financial Services Limited".

You can prepay the loan, if you are closing it fully. However, we do levy a prepayment charge. For more details, view our service charges.

Imported vehicles are also funded on case-to-case basis. The lending rates are dependent on various factors including cost of funds, customer credentials, geography, asset, tenor and discounts offered in the market. Tata Capital ensures that you get a transparent and good deal at the time of availing the loan.

You can approach us in any of the following ways:

Write to or SMS 'Auto' to 56161561.

Yes, you can avail of a loan on your existing car. Up to 120% of the existing value of your car shall be available as cash at your disposal subject to a maximum of Rs.20 lacs.

Yes, registration is included in a few loan offerings, but insurance of the vehicle does not form part of this value and would need to be paid up-front.

No, the tenure, once selected, is fixed for the life of the loan.

Yes, we do offer funding up to 100% of the ex-showroom price on select models, subject to the applicant meeting our underwriting criteria.

No, the EMI is fixed for the life of the loan. However, we offer flexible solutions to fit your requirement.

It takes us 24-36 hours from the completion of documentation to sanction a loan.

  • Salaried individuals
  • Self-employed individuals
  • Partnership firms
  • Public and Private Ltd. companies
  • HUFs and Trusts



Looking for a Car Loan? Calculate your EMI in 3 Easy Steps Using our Car Loan EMI Calculator.


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