Vehicle Loan Eligibility
Check Your Vehicle Loan Eligibility Instantly
See your estimated eligibility score and likely approval tier for a vehicle loan before you apply - free, and with zero impact on your CIBIL score.
Takes under a minute
Soft check only
No hidden charges
Vehicle Loan Quick Check
No sign-up needed to see your result
How It's Assessed
What Affects Your Vehicle Loan Eligibility
ClearToLend's eligibility engine weighs four factors that lenders commonly consider for a vehicle 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 18–65 years
- Minimum monthly income of ₹20,000+ depending on lender, city and vehicle type
- Credit score of 650+ improves approval chances and rate offered
- Lower existing EMI burden relative to income (FOIR)
- Used vehicles: typically 70–75% of valuation funded vs 80–100% of on-road price for new
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 (or valuation report for a used vehicle)
FAQ
Vehicle Loan Eligibility FAQs
Yes, most lenders offer used-vehicle loans, though the loan-to-value ratio, interest rate and maximum tenure are usually less favourable than for a new vehicle - expect roughly 70–75% of the valuation to be funded.
Yes. Most banks and several NBFCs run dedicated two-wheeler, three-wheeler and commercial vehicle loan programmes, each with its own rate card and income criteria - commercial vehicle loans in particular also look at the vehicle's earning potential.
Lenders typically finance 80–100% of the on-road price for new vehicles, so you should plan for the remainder as a down payment. There is no RBI-mandated ceiling on vehicle loan LTV - the margin is each lender's own policy.
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.