Loan Against Vehicle & Getting Instant Funds in 2025

Need quick money without selling your assets? A Loan Against Vehicle is your smart solution. Use your car as collateral and get up to 140% of its value while still driving it. With faster approvals, minimal paperwork, and competitive interest rates, it's perfect for education, business, or emergencies. Whether salaried or self-employed, get funds within 48 hours. Apply online, keep your car, and unlock its value instantly—simple, secure, and stress-free!

What Is a Loan Against My Car?

A Loan Against Your Car allows you to use your existing vehicle as collateral and get funding from a financial institution. You retain ownership of the car, but the lender holds temporary rights over it until you repay the loan. This type of loan is growing in popularity due to its quick processing and minimal documentation.

Why Choose a Loan Against Vehicle ?

• No Need to Sell Your Car: You get to keep and use your car.

• Faster Approvals: Compared to traditional education loans, the approval time is quicker.

• Lower Interest Rates: Rates start as low as 11.99% with Car Par Loan.

• Larger Loan Amounts: Depending on your car’s model, age, and condition, you can get up to 140% of the car’s value.

• Flexible Tenure: Select terms of repayment based on your financial situations.

Used Car Loan vs. Existing Car Loan vs. Loan Against Car: What’s the Difference?

1. Used Car Loan:

   • For buying a second-hand car.

   • Applicable for individual buyers seeking ownership of a pre-owned vehicle.

2. Existing Car Loan:

   • You already have a car loan but may need better terms or want to restructure.

   • You can refinance it through Car Par Loan at rates starting from 15%.

3. Loan Against Car:

   • You already own a car.

   • Use it as collateral to get funds for expenses, education, business, medical, etc.

Real World Example

Imagine you have a 5-year-old sedan that is fully paid off. Its current market value is Rs. 4.5 lakhs. Car Par Loan offers a refinance value of up to 140%, meaning you can get over Rs. 6.3 lakhs disbursed as a loan. That could be the difference between settling for an average college and getting into your dream university.

How to Apply for a Loan Against Your Car on Car Par Loan

1. Visit the website and select Loan Against My Car.

2. Enter your vehicle details, registration number, brand, model, and year.

3. Upload minimal documents, RC book, ID proof, and income details.

4. Get an instant eligibility check and approval.

5. Disbursal is done within 48 hours in most cases.

Eligibility Criteria

• The car must be registered in your name.

• The vehicle should not be older than 10 years.

• You must be salaried or self-employed.

• Valid RC, insurance, and pollution certificate needed.

3 Tips Before Applying

• Check your CIBIL score. A score above 700 improves your chances.

• Clean your RC records of any pending challans.

• Maintain insurance and service records.

5 Benefits of Choosing Car Par Loan

• Competitive interest rates

• 140% refinance value

• Doorstep document collection

• 100% online process

• Quick disbursal in 2 steps

The Final Note

Your parked car could be your ticket to a better future. Don’t let a lack of funds hold you back from pursuing your education. Use Car Par Loan to apply for a Loan Against A Car and study smarter, not harder.

FAQs

**Q1. Is the car taken away during the loan period?
**A: No, you keep using your car. The RC may be hypothecated, but the car stays with you.

**Q2. Can I apply if my car is more than 5 years old?
**A: Yes, but the car should not be older than 10 years.

**Q3. Is this better than a personal loan?
**A: In many cases, yes. Interest rates are usually lower, and approval is faster.

**Q4. How much loan can I get against my car?
**A: Up to 140% of your car’s market value, depending on condition and documents.

**Q5. Are there prepayment charges?
**A: This depends on the lender, but many offer flexible terms.