Citibank car loans are available for new and used cars. One can also leverage a car to meet cash needs. Existing Citibank customers get preference while applying for car loans.
Type of Car Loans
For a new car, one can get a loan up to 90% of the car value. Car Cash-in Loan can be availed against a car. Citibank offers loans up to 85% of the car value. For Pre-owned Car, one can get a loan up to 85% of the value of the pre-owned car. Minimum loan amount for a new car is Rs 100000 while for a used car, it is Rs 50000.
One needs to produce documents like Income Proof, Residence Proof, Identity Proof, PAN Card, IT related documents, and Bank Statement.
For new car and pre-owned car loans, one can choose any tenure between 12 to 60 months. Loans can be availed through the dealer networks.
For car cash-in, one has flexible tenure of 1 year to 5 years. Guarantors are not needed. Existing Citibank customers get fast approval. One can retain ownership of the car.