Car Loan

A car loan is a secured loan provided by banks or financial institutions to individuals or businesses to purchase a new or pre-owned car. The borrower repays the loan amount along with interest through Equated Monthly Installments (EMIs) over a fixed tenure. The vehicle itself usually serves as collateral until the loan is fully repaid. Car loans make vehicle ownership more affordable by spreading the cost over time and often come with flexible repayment options, competitive interest rates, and quick approval processes.