What is Auto Loan?

  • An auto loan is basically a loan that you take out in order to purchase a vehicle.
  • As the name itself suggests that it is a loan given for buying a vehicle and even it includes refinancing.
  • The major specialty of this loan is that vehicle itself is a collateral & no other collateral to be offered to avail this loan

Age Criteria

  • Salaried minimum age of Applicant 21 years
  • Self-Employed Minimum age of Applicant 23 years

Income Tax Benefits

Taking an auto loan is used as a tax planning tool by all the businessmen. Under the Income Tax Act two benefits are available as following:-

  • Interest paid on car loan.
  • Depreciation @ 15 % on written down value.

Who All Can Avail?

  • Salaried- Minimum period in current job 1 year
  • Income:-Minimum Annual salary INR 2.4 lakh
  • Self-Employed-Experience: Minimum period in current business 2 years
  • Income: Minimum Annual Business Income 2 lakh

Benefits Through MMM

We offer best services and benefits in terms of functionalities are as under:-

  • Comparison between different banks.
  • Calculation of saving through balance transfer calculator.
  • Customized and self explanatory eligibility & quotes.
  • Self evaluation of loan eligibility.

Benefits in terms of services:-

  • Best ROI and fees.
  • Free tax planning by tax experts.
  • Hassle free & door step services.

Get a Quote

Now apply for a Home Loan online, All you need to do is provide your details below application form.