personal Loan - Features & Benefits

Cars are no longer a luxury today; they have become a necessity. But if you are worried about your budget, simply apply for a car loan to make your dream of owning a car come true. Mahindra Finance makes car ownership a reality as you get financing up to the full cost of the vehicle.

Thanks to a simple and quick loan application procedure from Mahindra Finance, you can have your car loan sanctioned in no time and can choose a convenient repayment schedule. This allows you to devote your time and attention to research car brands, models, and loan budget details.

How to apply for a car loan

Mahindra Finance has made its car loan application process easy so that potential car owners can have a hassle-free experience. The loan procedure is available both online and offline, and you can either visit the nearest branch or opt for our time-saving online loan process.

It involves four easy steps:

Step 1: Go to the website

The first step is to start the application process by clicking the ‘Apply Now’ button on the website. You will be directed to a page where you will see different fields to be filled in. As you read further, you will get an idea of the information needed for filling out your car loan application. You can start applying once you are ready with the details.

Step 2: Select your product

The application form for a car loan requires you to select an appropriate product from the two given options: ‘Investment’ and ‘Loan’. Choose ‘Loan'. 

The next section will require you to ‘Select loan type’. It will show all the types of loans on offer that you can choose from.

Depending on the type of purchase (used or new), choose either ‘car loans’ or ‘pre-owned car loans’.  

The final section in this step is entering your employment type and other personal details as applicable

Once you have done all these, go back and cross-check the details and hit ‘submit’.

Step 3: Get your loan approved

Once you fill in the details and submit the form, you will get a call back from our executive. They will ask you to share the supporting documents for the details mentioned in the car loan application form. This includes KYC documents such as PAN card, Aadhaar card, any government-issued ID, salary slip, Form 16 for eligibility check, and proof of address. These documents are required for verification.

Step 4: Get your loan sanctioned and disbursed

The final step of the car loan application is approval and disbursement of your loan amount. After verification, your loan will be sanctioned immediately, and the amount will be credited if the documents are satisfactory. If not, you might be requested to submit additional documents.

Now, wasn’t that easy and quick? So, stop dreaming about owning a new car and apply for a car loan with Mahindra Finance today!