Car Loan Eligibility
Check Your Car Loan Eligibility Instantly
See your estimated eligibility score and likely approval tier for a car loan before you apply — free, and with zero impact on your CIBIL score.
Takes under a minute
Soft check only
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Car Loan Quick Check
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How It's Assessed
What Affects Your Car Loan Eligibility
ClearToLend's eligibility engine weighs four factors that lenders commonly consider for a car loan.
Income vs. Loan Amount
How your monthly income compares to the amount you're requesting, relative to typical lending multiples for this loan type.
Existing EMI Burden
Your Fixed Obligation to Income Ratio (FOIR) — how much of your income is already committed to other loans.
Credit Score Band
Your credit score range influences both the amount lenders may offer and the interest rate you're likely to get.
Employment Stability
Salaried, self-employed professional or business owner status factors into how lenders weigh income predictability.
Eligibility Criteria
Typical Requirements
- Age typically 21–65 years
- Minimum monthly income of ₹20,000+ depending on lender and city
- Credit score of 650+ improves approval chances and rate offered
- Lower existing EMI burden relative to income (FOIR)
Be Prepared
Documents You'll Need
- PAN card and Aadhaar card
- Income proof — salary slips or ITR
- Bank statements for the last 6 months
- Vehicle quotation/proforma invoice
FAQ
Car Loan Eligibility FAQs
Yes, most lenders offer used-car loans, though the loan-to-value ratio, interest rate and maximum tenure are usually less favourable than for a new car.
Lenders typically finance 80–90% of the on-road price for new vehicles, so you should plan for the remainder as a down payment.
Yes — a high existing EMI burden relative to your income (FOIR) reduces the loan amount lenders are willing to extend, regardless of your overall income level.