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Owning a car has been the dream of many. One not only gets the freedom to move as per one’s whims and fancies but also achieves an important milestone in life. However, given the current level of inflation, it is difficult to save enough to buy a car. But with the option to get your car financed, you can still lay hands on your dream vehicle. Today, Bhumi Finance will navigate the road to car ownership for you. Here’s a comprehensive guide to a new car loan in Gorakhpur for you. Fasten your seat belts and start driving, oh sorry, reading:

Understanding a New Car Loan
 

Car loans are an amount borrowed by an individual to purchase a private car. Unlike a home loan in Gorakhpur, one doesn’t require any collateral for the same. Today, banks and other lending institutions offer almost 90% of the cost for new vehicles and 75% on second-hand vehicles. The payment is every month within a term of 12-84 months. When it comes to a new car loan in Basti, one can take advantage of attractive interest rates. One can get a loan on a brand-new car from INR 2 lakhs to INR 5 crores.

Why Should You Opt for A New Car Loan In Gorakhpur?
 

Imagine being liberated from the struggle of boarding public transport. How about traveling with your family on short weekend trips? Well, a new car loan in Deoria makes it possible to own a car at a young age. With a bit of planning, you can afford the model you always wanted. Payback in comfortable EMIs each month. Very soon, you can own one car and plan for the other. 

Documents Required for a New Car Loan in Deoria
 

Once you have made up your mind about the vehicle you wish to buy, the desired amount of your second hand car finance in Varanasi, and the repayment tenure, you need to make sure that their documentation is proper. The following documents are required:
 

• Photographs: Two recent passport-sized photographs of the borrower are required.
• Identity proof: PAN card, Aadhar Card, driver's license, passport, and voter's identity card fall under valid ID. 
• Age proof: The loan applicant's age should be above 21 years and the applicant's age 18 years. This needs to be supported by an age-proof document. A passport, ration card, Aadhar Card, PAN card, and birth certificate are considered valid age proof. 
• Address proof: Government-issued documents like Aadhar Cards, PAN cards, electricity bills, etc. are considered valid documents. 
• Income proof: Salaried employees must submit salary slips for the last 3 months and bank statements for 6 Months, Form 16, updated ITR, etc. Self-employed individuals should submit bank statements for the past 3 months, their balance sheets, and P&L accounts with ITR.  
• Signature verification: Signature verification is necessary to establish the uniqueness of the signature. 

So, what are you waiting for? Opt for a new car loan in Basti and become a proud owner of a brand-new vehicle! For professional assistance, reach out to https://bhumifinance.com/. Best of all, we also offer the best business loan in Varanasi. Contact us to know more.