Go Digital While Buying Your New Car

4 MinsFebruary 12, 2020

When it comes to buying a car, Indian customers have a wide range of choices. So much so that shopping for a new car can often become a bewildering experience, given all the multiple models and their variants that are available today. You can, of course, visit multiple dealers and/or refer to the countless auto portals online. But this may result in an overload of jargon and information that is likely to confuse you further. And even if you manage to zoom in on the brand and model you want to buy, you may have to do further research for the right kind of finance option and then negotiate with the dealer before you finally complete the transaction.

new car

If you want to save yourself all this hassle, there is a simple solution, talk to your Axis Bank Relationship Officer (RO). Axis Bank has empowered all its ROs with a specially built mobile app. Using this app your RO can create a digital buying experience for you taking away botheration associated with buying a new car.


The app facilitates quick and ready information about new cars, brochures downloads, critic reviews, customer reviews, among other things. Using the app the RO will also be able to give you information about pricing, ongoing offers for Auto Loans -in your city and according to various car segments, and calculate the applicable EMI.

If you know the price range of the new car you want to purchase, you can compare various cars in the segment including features, color options, mileage, cost and EMI - based on the car model, rate of interest and loan amount you select. This will give you a clear picture of the potential monthly outgo with various combination of tenure to suit your needs. The whole experience is digital and seamless and manufacturer agnostic. So if you need a car priced between say Rs. 9- 10 Lakhs your RO can help list all options with combinations of tenure and EMI at ease.

Pre-approved loan offer

Financing of the car can be hassle-free if you have a pre-approved loan offer. The digitally empowered RO can also check on any pre-approved car loan offers. Such an offer doesn't mean that the loan or the amount is guaranteed; it reflects on your eligibility. Such a pre-approved offer usually allows a customer to avail up to 100% funding of the pre-approved offer with minimal documents.

You can also check whether you have a pre-approved loan offer either through internet banking, your Axis Bank mobile app or by calling your relationship manager. You can also visit the nearest Axis Bank branch, call Phone Banking on 1860 419 5555 or 1860 500 5555 or message CLPA to 5676782 from your registered mobile number.

[Also Read: Six Cars to look out for in 2020]

Rate of Interest and Other Charges

Axis Bank offers new car loans from Rs 1 lakh up to 100% on-road price. These loans come with a host of other attractive features like affordable interest rates, comfortable tenures, and Axis eDGE Reward points. What’s more, if you use the digital channel, Axis Bank has attractive deals on offers ranging from interest rates, processing fee and/ or and foreclosure charges etc. It thus, makes sense to check these offers online, rather than depend on the old brick-and-mortar route.

Visit the link to check out the interest rates on New Car Loans. Also, you can use our online Car Loan EMI Calculator to calculate your EMI.

Eligibility and Documentation

Axis Bank car loans are available to anyone who is between 21-70 years of age and has an annual income of Rs. 2.4 lakh for salaried customers and Rs. 1.8 lakh – Rs. 2 lakh for self-employed customers.

To avail of the loan, you will need to submit, along with the application form, your KYC documents, a passport size photograph etc.

Disclaimer: This article has been authored by The Source, a Mumbai-based content creation firm. Axis Bank does not influence the views of the author in any way. Axis Bank and The Source shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.