What is a Vehicle Loan?
A vehicle loan, also known as an auto loan, is a sum of money borrowed from a bank or financial institution to purchase a new or used vehicle. The vehicle itself typically serves as collateral, meaning it secures the loan. You agree to repay the borrowed amount, plus interest, in Equated Monthly Installments (EMIs) over a fixed period.
Why get a Vehicle Loan?
A vehicle loan lets you drive home your dream car or bike now, without paying the full price upfront. It makes ownership affordable by breaking down a large expense into manageable monthly payments, helping you keep your savings intact for other important financial goals.
VEHICLE LOAN POLICY PROVIDED BY COMPANIES
VEHICLE LOAN POLICY PROVIDED BY COMPANIES
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