Loan Against Car – Unlock Funds Without Selling Your Vehicle

What Is a Loan Against Car?

A Loan Against Car is a secured loan where your car is used as collateral. Because the loan is asset-backed, lenders usually offer better terms compared to unsecured loans.

Key points:

• You continue using your car

• Loan amount depends on car value & condition

• Faster processing compared to personal loans

• Lower interest rates than unsecured credit

Key Features of Loan Against Car

Key points:

• Loan based on market value of the car

• Flexible repayment tenure

• Faster approvals due to collateral

• Structured EMIs for easier planning

Eligibility varies by lender and vehicle type.

Who Can Apply for a Loan Against Car?

Key points:

• Salaried individuals

• Self-employed professionals

• Business owners

• Vehicle must be registered in the applicant’s name

How Mudrakshay Helps You

Clear Eligibility Guidance

We help you understand which lenders suit your profile—before you apply.

Multiple Bank Options Explained

Different lenders assess cars differently. We explain how valuation and repayment structures vary.

From document preparation to final approval, we keep the process structured and transparent.

Step-by-Step Support

Documents Usually Required

Key points:

• Car RC (Registration Certificate)

• Identity & address proof

• Income proof

• Recent bank statements

Loan Against Car vs Personal Loan

Key points:

• Lower interest rates

• Higher approval chances

• Asset-backed security

• Better loan value for eligible vehicles

Want to explore alternatives?

View Personal Loan Guidance

Start With Expert Guidance

We explain options. You decide.