Car Loans in Mumbai Details

Every day a new car model gets launched in the market. If you are a car fanatic, have a dream car, or want to upgrade to the latest car model that you have been longing to buy, but couldn't afford the entire amount all by yourself, fret not! We at LMV Financial Services aid you in getting car loans. With our car loans, you can fulfill your dream of owning a car. You can now ride on the roads of Mumbai in your car with our Car Loans in Mumbai. You can reach us online, and we shall explain the best finances that suit your requirement.

Getting a car loan at competitive interest rates is tricky, but with LMV, you can get them effortlessly. Also, you can avail unlimited funds of up to 100% to purchase a car through a car loan. The car loans are granted to the individual based on his repayment capability and CIBIL score. You can check through the wide range of car financing options available with different banks and choose the right loan that matches your needs. You can either close the loan in the shortest or extended tenure.

Eligibility Criteria to Apply for Car Loans in Mumbai

Different banks have different eligibility criteria to lend car loans, so the borrower needs to know the criteria required by the bank they want to avail the loan from. The standard eligibility criteria required to apply for Car Loans in Mumbai are given below:

• The minimum age of the loan borrower should be 21 years.
• The maximum age of the applicant should be 65 years.
• For salaried employees, the income should be at least three lakhs per annum, and for self-employed individuals, the income should be at least three lakhs per annum.
• The individual should have been employed for at least the past two years and should be working in the current company for at least one year.
• For the business person, he should be in the business for at least two years in a row.
• Check out your emi options now from our Car loan emi calculator

Documents Required To Apply for a Car Loan in Mumbai

Applicants must submit the documents below to apply for Car Loans in Mumbai.

• Proof of Identity such as Aadhaar, Voter's ID, Passport, Driving License, etc.
• Age proof like PAN Card, Passport, Aadhaar, etc.
• Address Proof like Passport, Aadhaar, Driving License, etc.
• Last six month's salary slips
• Last six month's bank statements
• Income proof (Form 16, IT returns)

The applicant may be required to submit a few other documents, if necessary, as prompted by the lender bank.

Benefits of Acquiring Car Loan in Mumbai With LMV Financial Services

Here we have discussed the benefits required to acquire a car loan in Mumbai.

Flexible EMI Option

You need not worry about the EMI payment as the banks offer flexible EMI options. Loan borrowers can easily manage the EMI of their car loan with us.

Fewer Documentation

We are known to provide loans with less documentation. Unlike a few banks and NBFCs that require heavy documentation, we don't ask for more documents. We only ask for the required documents.