Buying a new car in Delhi? Tavishree Finance Solutions (TFS) offers fast, transparent, and affordable new car financing in Delhi with interest rates starting from 8.45% p.a., loan amounts up to ₹1 Crore, repayment tenures up to 84 months, and approvals within 24 hours. Whether you are a first-time car buyer, a salaried professional, a self-employed individual, or a business owner in Delhi NCR, we compare offers from multiple banks and NBFCs to get you the lowest available rate, with the entire process handled on WhatsApp.
✅ Rates from 8.45% p.a.
✅ Up to 100% On-Road Funding
✅ Tenure up to 84 Months
✅ 30,000+ Loans Processed
What is a New Car Loan in Delhi?
A new car loan is a secured financing product that allows you to purchase a brand-new, never-registered vehicle by borrowing money from a bank or NBFC, and repaying it in fixed monthly EMIs (Equated Monthly Instalments) over an agreed-upon tenure of 12 to 84 months.
Here is how it works: after your loan is approved, the lender disburses the sanctioned amount directly to the car dealership. You drive the car home. The vehicle's Registration Certificate (RC) carries the lender's name as hypothecatee until the loan is fully repaid, after which the hypothecation is removed and full ownership transfers to you.
Unlike a used car loan, which requires an independent vehicle inspection and valuation before the bank approves the loan, a new car loan requires no inspection. The vehicle's ex-showroom price is fixed and transparent, which makes the entire approval process faster and the loan amount more predictable.
Why 2026 is one of the best times in years to take a new car loan in Delhi:
India's passenger vehicle market ended FY2025–26 at a record 47 lakh retail units, the highest total ever recorded. The Reserve Bank of India cut interest rates by a total of 125 basis points from February 2025, bringing the benchmark repo rate to 5.25%. As a result, car loan rates fell to between 8.5% and 11.5%, the lowest level in five years.
Passenger vehicle sales in India grew 18.2% year-on-year in June 2026, supported by lower GST rates, softer financing costs, and the introduction of new models.
Northern India: Delhi NCR, Punjab, Haryana, Uttar Pradesh, and Uttarakhand account for approximately 24% of passenger car sales in India, making Delhi NCR the single largest automobile consumption region in North India.
At Tavishree Finance Solutions, we help Delhi buyers navigate this opportunity by comparing lenders, securing the lowest rates, handling documentation, and ensuring you get into your new car in the shortest possible time.
New Car Loan in Delhi: At a Glance (July 2026)
| Parameter | Details |
|---|---|
| Loan Amount | ₹1 Lakh – ₹1 Crore |
| Interest Rate | 8.45% – 12% p.a. (CIBIL score and lender dependent) |
| Loan Tenure | 12 months – 84 months (7 years) |
| Loan-to-Value (LTV) | Up to 85%–100% of on-road price (lender dependent) |
| Down Payment Required | 0%–15% of on-road price |
| Minimum CIBIL Score | 650+ (750+ for best rates) |
| Processing Fee | 0% – 2% of loan amount (lender and scheme dependent) |
| Prepayment Charges | Nil on floating rate loans (RBI mandate); 2%–5% on fixed rate |
| Approval Time | 24 hours (pre-approved) to 48 hours (standard) |
| Vehicle Type | All new passenger vehicles — hatchbacks, sedans, SUVs, MUVs, EVs, luxury |
| Green Car Loan Benefit | 0.25%–1% interest rate concession for EV buyers at select lenders |
| EV Tax Benefit | Deduction up to ₹1.5 Lakh on interest paid under Section 80EEB |
| Application Mode | WhatsApp / Online / In-Office (Netaji Subhash Place, New Delhi) |
New Car Loan Interest Rate in Delhi: Complete Lender Comparison (July 2026)
Your interest rate is the single most consequential number in your new car loan. A 100-point drop in CIBIL score typically adds 0.75% to 1.25% to your interest rate, which on a ₹10 Lakh loan over 5 years translates into ₹28,000 to ₹46,000 in extra interest. This is why understanding the rate landscape and choosing the right lender for your specific profile matters far more than simply walking into the nearest bank.
Lender-wise New Car Loan Interest Rates (July 2026):
| Lender | Interest Rate (p.a.) | Max Tenure | LTV | Processing Fee |
|---|---|---|---|---|
| Canara Bank | 8.45% onwards | 84 months | Up to 90% | Minimal |
| Union Bank of India | 8.45% onwards | 84 months | Up to 90% | Minimal |
| Indian Overseas Bank | 8.60% onwards | 84 months | Up to 90% | Minimal |
| Punjab National Bank | 8.50% (floating) / 9.50% (fixed) | 84 months | Up to 90% | Up to 0.25% |
| SBI | 9.10% onwards | 84 months | Up to 90% | Nil (special schemes) |
| ICICI Bank | 8.40%* onwards | 84 months | Up to 100% | Up to 2% |
| HDFC Bank | 9.40% onwards (rack rate) | 84 months | Up to 100% | Up to 2% |
| Axis Bank | 9.40% onwards | 84 months | Up to 100% | Up to 2% |
| Kotak Mahindra Bank | 8.99% – 10.25% | 84 months | Up to 90% | Up to 2% |
All rates are indicative as of July 2026. Actual rates depend on CIBIL score, income, employer type, loan amount, and relationship with the lender. Contact TFS for a personalised multi-lender rate quote.
New Car Loan Interest Rate by CIBIL Score (Delhi 2026)
| CIBIL Score | Borrower Profile | Approx. Rate (p.a.) |
|---|---|---|
| 800+ | Salaried, PSU / top MNC employer | 8.45% – 9.00% |
| 750–799 | Salaried, stable private sector | 9.00% – 9.75% |
| 700–749 | Salaried or strong self-employed | 9.75% – 10.75% |
| 650–699 | Self-employed, average banking | 10.75% – 12.00% |
| Below 650 | Assessed case by case | 12%+ or may be declined |
Fixed Rate vs Floating Rate: Which is Better for Your New Car Loan in Delhi?
Every new car loan in India comes in two interest rate formats. Understanding the difference before you sign can save you a significant amount over 5 to 7 years.
Fixed Interest Rate
Your EMI stays constant throughout the loan tenure regardless of market movements. This makes monthly budgeting predictable and protects you if interest rates rise in the future. Fixed rates are typically 0.25%–0.75% higher than floating rates from the same lender. Best suited for buyers who prefer certainty and do not plan to prepay early.
Floating Interest Rate
Your rate is linked to the lender's MCLR or repo rate and can move up or down as the RBI adjusts its benchmark. The RBI has mandated zero prepayment penalty on floating rate loans, meaning if your rate increases or you come into surplus funds, you can prepay without any charges. With the RBI repo rate currently at a 5-year low of 5.25%, floating rates carry some upside risk. Best suited for buyers expecting rates to stay stable or fall further, or for those who plan to prepay periodically.
TFS Recommendation: For most Delhi buyers in 2026, a floating rate loan from a PSU bank offers the best combination of low rate and zero foreclosure penalty. Our advisors will walk you through both options with actual numbers before you decide.
How to Get the Lowest New Car Loan Interest Rate in Delhi?
These five steps consistently move Delhi buyers into the lower rate bracket:
1. Get your CIBIL score to 750+ before applying.
A CIBIL score of 750 or above is ideal for the best interest rates, which currently start around 8.45% for new car loans in 2026. Employment stability is crucial: at least 2 years of total work experience, with at least 1 year with the current employer.
2. Choose the right lender for your profile, not just the lowest advertised rate.
PSU banks like Canara Bank and Union Bank advertise rates from 8.45%, but these are available only to their highest-quality profiles. A private bank may ultimately offer a lower effective rate for your specific CIBIL score and employer category. TFS compares both.
3. Make a down payment of 20%–25%.
Paying a 20–25% down payment reduces EMI meaningfully and may lower your interest rate at some lenders. It also reduces your total interest outgo by ₹20,000–₹45,000 on a typical loan.
4. Ask explicitly for the Green Car Loan rate if buying an EV.
Under the Green Mobility initiative, top Indian banks are now offering Green Loans with interest rates 0.50% to 1% lower than standard auto loans. This discount is not offered automatically; you must ask for it.
5. Apply through TFS, not individually to multiple banks.
Every bank application triggers a hard credit enquiry. Multiple enquiries within a short period can reduce your CIBIL score by 15–30 points, pushing you into a higher rate bracket before your loan is even approved. TFS identifies the right lender upfront and applies once, protecting your score throughout.
Understanding On-Road Price: What Your New Car Actually Costs in Delhi
One of the most common mistakes Delhi car buyers make is calculating their loan based on the ex-showroom price. The bank does not lend against the ex-showroom price; it lends against the on-road price, which is significantly higher.
On-Road Price = Ex-Showroom Price + GST (28% for cars above 4 metres / 18% for small cars, already included in ex-showroom) + Road Tax (Delhi: 5%–11% of ex-showroom price for petrol cars) + Registration Fee (₹600 fixed) + HSRP Number Plates (₹230–₹400) + Hypothecation Fee (₹1,500 if car is on loan) + FASTag (₹500–₹600) + MCD Parking Fee Delhi (₹4,000 for cars above ₹4 Lakh ex-showroom) + First-Year Comprehensive Insurance (3%–5% of ex-showroom) + TCS (1% for cars above ₹10 Lakh, claimable in ITR)
Delhi has one of the lowest road tax rates among Indian metros: 5%–8% for petrol cars compared to Mumbai at 11%–14% and Bangalore at 13%–17%. For a ₹10 Lakh car, Delhi RTO charges approximately ₹70,000 versus ₹1,20,000 in Mumbai and ₹1,50,000 in Bangalore.
Also note: electric vehicles are 100% road tax-exempt in Delhi, making Delhi one of the most EV-friendly registration environments in India.
On-Road Price Estimate for Top New Cars in Delhi (July 2026)
| Car Model | Ex-Showroom Price | Est. On-Road Price Delhi | Loan (90% LTV) | EMI @ 9% / 60 months |
|---|---|---|---|---|
| Maruti WagonR | ₹4.99 Lakh | ₹5.80 Lakh | ₹5.22 Lakh | ≈ ₹10,830/month |
| Maruti Swift | ₹5.79 Lakh | ₹6.70 Lakh | ₹6.03 Lakh | ≈ ₹12,518/month |
| Maruti Baleno | ₹5.99 Lakh | ₹6.95 Lakh | ₹6.26 Lakh | ≈ ₹12,995/month |
| Hyundai i20 | ₹6.00 Lakh | ₹6.97 Lakh | ₹6.27 Lakh | ≈ ₹13,016/month |
| Tata Nexon | ₹7.37 Lakh | ₹8.55 Lakh | ₹7.70 Lakh | ≈ ₹15,988/month |
| Hyundai Creta | ₹10.91 Lakh | ₹12.64 Lakh | ₹11.38 Lakh | ≈ ₹23,621/month |
| Honda Elevate | ₹11.60 Lakh | ₹13.43 Lakh | ₹12.09 Lakh | ≈ ₹25,096/month |
| Tata Harrier | ₹12.89 Lakh | ₹15.00 Lakh | ₹13.50 Lakh | ≈ ₹28,019/month |
| Toyota Fortuner | ₹34.76 Lakh | ₹40.20 Lakh | ₹36.18 Lakh | ≈ ₹75,108/month |
On-road price estimates are based on July 2026 Delhi road tax slabs (petrol, individual registration). Actual figures depend on variant, insurance plan chosen, and dealer charges. EMIs are indicative at 9% p.a. over 60 months.
New Car Loan EMI Calculator Delhi: Smart EMI advice from our Delhi loan advisors
On a ₹10 Lakh loan at 9.5% for 5 years, the first year's EMIs go roughly 40% toward interest and 60% toward principal. By year 5, that reverses to 10% interest and 90% principal. A ₹1 Lakh prepayment in month 12 cuts total interest by ₹28,000 to ₹35,000. This is why making one extra payment per year whenever a bonus or surplus arrives can save Delhi buyers a material amount over the loan's life.
As a practical rule: your total car loan EMI should not exceed 40%–50% of your net monthly take-home salary. If your monthly income is ₹50,000, your car loan EMI should ideally stay under ₹20,000–₹25,000.
New Car Loan Eligibility in Delhi: Who Can Apply?
Tavishree Finance Solutions processes new car loan applications across a wide range of borrower profiles in Delhi NCR. Here are the standard eligibility parameters:
For Salaried Employees
- Age: 21 to 60 years (loan to mature before age 60–65, lender dependent)
- Minimum Monthly Income: ₹25,000 net per month
- Employment Stability: Minimum 2 years total; 1 year with current employer
- CIBIL Score: 700+ preferred; 750+ for best rates
- Employment Category: PSU / Government / Top MNC employees attract the lowest rates; smaller company employees may pay 0.25%–1% more
- Salary Credit Mode: Salary credited directly to bank account (not cash) preferred
For Self-Employed Professionals and Business Owners
- Age: 21 to 65 years
- Minimum Annual Income: ₹2.5 Lakh to ₹3 Lakh as per filed ITR
- Business Vintage: Minimum 2–3 years of active operations
- CIBIL Score: 700+ preferred
- ITR Filing: Mandatory; minimum 2 years of returns required
- CA-Certified Financials: May be required by some lenders for higher loan amounts
For First-Time Car Buyers in Delhi
Buying your first car on loan is a major milestone and also a first credit experience for many Delhi buyers. Here is what first-time buyers need to know:
If you have a thin credit file (no previous loans or credit cards): Your CIBIL score may be -1 or NH (No History). This is not the same as a bad score. Several private banks and NBFCs assess first-time borrowers on the basis of income stability, banking history, employer reputation, and age. TFS has experience placing first-time buyers with the right lenders. WhatsApp us before assuming you will not qualify.
Add a co-applicant if possible: A co-applicant with a strong CIBIL score and stable income significantly improves your approval odds and the interest rate offered. Co-applicants are typically a spouse, parent, or sibling.
Your employer matters more than you think: First-time buyers employed at a PSU, MNC, or large private company get noticeably better terms than those at smaller organisations, even at the same salary level.
Vehicle Eligibility
- Must be a brand-new vehicle (never registered before)
- Must be purchased from an authorised dealership of the respective brand
- Applicable across all passenger vehicle categories: hatchbacks, sedans, SUVs, MUVs, luxury cars, and EVs
- First-year comprehensive insurance must be active at the time of disbursal
Documents Required for a New Car Loan in Delhi
Submitting the right documents the first time eliminates the most common cause of approval delays. In 2026, most top-tier private banks like HDFC and ICICI have integrated Video-KYC and automated income verification to speed up the process, but having your physical documents ready still accelerates approval significantly.
For Salaried Applicants
| Document Category | Accepted Documents |
|---|---|
| Identity Proof | Aadhaar Card / PAN Card / Passport / Voter ID / Driving Licence |
| Address Proof | Aadhaar Card / Utility Bill / Rental Agreement (not older than 3 months) |
| Income Proof | Last 3 months' salary slips |
| Bank Statements | Last 6 months' bank statements (salary account) |
| Employment Proof | Offer letter / Employee ID / Latest Form 16 |
| PAN Card | Mandatory for all loan applicants |
| Photographs | 2 recent passport-size photographs |
For Self-Employed Applicants
| Document Category | Accepted Documents |
|---|---|
| Identity Proof | Aadhaar Card / PAN Card |
| Address Proof | Aadhaar / Utility Bill / Business address proof |
| Income Proof | ITR for last 2 years with CA-certified P&L statement |
| Bank Statements | Last 6 months' current account statements |
| Business Proof | GST registration / Shop Act licence / Business PAN |
| PAN Card | Mandatory |
| Photographs | 2 recent passport-size photographs |
Vehicle / Dealer Documents
| Document | Purpose |
|---|---|
| Proforma Invoice from Dealer | Confirms on-road price and vehicle details — required by lender |
| Car Insurance Quote / Policy | Lender confirms insurance is active before disbursal |
| Dealer's GSTIN | Required for processing fee invoicing |
Pro tip from our Delhi advisors: The proforma invoice from the dealership is the single most important document for fast new car loan processing; it confirms the exact on-road amount the lender needs to disburse. Get this from your dealer before approaching any lender or TFS, and the rest of the process moves significantly faster.
How to Get a New Car Loan in Delhi Through Tavishree Finance Solutions
Step 1. WhatsApp Us Your Car Choice and Budget
Tell us the car model you have chosen, your approximate budget, and whether you prefer zero down payment or a specific EMI range. Our loan advisor responds within minutes: no call centre, no IVR.
Step 2. Profile Assessment
We review your CIBIL score, income profile, employer category, and existing EMI obligations and identify the two or three lenders most likely to offer you the best combination of rate, LTV, and approval speed.
Step 3. Loan Offer Comparison
We approach the shortlisted lenders simultaneously and present you with a clear, side-by-side comparison: interest rate, processing fee, prepayment terms, and total interest cost. You choose. We do not push any single lender.
Step 4. Document Submission
You share your documents once with us, via WhatsApp or email. We compile, verify for completeness, and submit to the selected lender. This one-submission approach protects your CIBIL score from multiple hard enquiries.
Step 5. Approval, Disbursal, and Key Handover
Once the lender approves, typically within 24 to 48 hours, the loan amount is disbursed directly to your car dealer. RC hypothecation is marked in the lender's name. You collect your keys.
Full timeline: As fast as 24 to 72 hours from WhatsApp message to key handover for complete documentation.
Special New Car Loan Products Available in Delhi in 2026
EV / Green Car Loan in Delhi: Lower Rates for Electric Vehicle Buyers
If you are buying an electric car in Delhi- a Tata Nexon EV, Tata Punch EV, Tata Tiago EV, Hyundai Creta Electric, Hyundai IONIQ 5, Mahindra BE 6, Mahindra XEV 9e, or Maruti e Vitara you are eligible for preferential financing benefits that most buyers do not know to ask for.
Under the Green Mobility initiative, top Indian banks are now offering Green Loans with interest rates 0.50% to 1% lower than standard auto loans.
SBI's Green Car Loan offers zero processing fee and a subsidised rate of interest, with financing of up to 100% of the vehicle's on-road price for electric cars.
HDFC Bank offers a deduction of up to ₹1.5 Lakh on EV car loan interest payments under Section 80EEB of the Income Tax Act. If you use the car for business purposes and record the interest payment as a business expense, a deduction of over ₹1.5 Lakh is available.
Electric vehicles are 100% road tax exempt in Delhi, which directly reduces your on-road price and therefore your loan amount compared to an equivalent petrol car.
EV loan interest rates in India in 2026 range from 7.99% to 11.5%. SBI offers one of the lowest rates starting at 8.55% for electric cars. Most lenders finance up to 85%–100% of the ex-showroom price of an EV.
The combined effect for Delhi EV buyers in 2026:
- 0% road tax on registration
- 0.50%–1% lower loan interest rate
- Zero processing fee at SBI
- Section 80EEB tax deduction up to ₹1.5 Lakh
- 100% on-road funding available
This makes buying an EV on loan in Delhi demonstrably cheaper in total cost than buying a petrol car of similar price in several scenarios. TFS can run a side-by-side cost comparison for your specific EV model on request.
Zero Down Payment: 100% On-Road Funding Car Loan in Delhi
Several private banks and NBFCs in Delhi, including ICICI Bank, HDFC Bank, and Axis Bank, offer up to 100% on-road price financing for new cars. This means you can potentially drive your new car home with zero down payment.
Who typically qualifies for 100% funding:
- CIBIL score of 750 or above
- Salaried at a reputed employer (MNC, large private company, government)
- Clean credit history with no missed EMIs or defaults
- Existing relationship with the lender (salary account, previous loan)
Important caveat: 100% funding means your loan amount equals the full on-road price. In the first 12–18 months, the car's market value will depreciate faster than your principal reduces, leaving you briefly in a "negative equity" position. TFS advisors will walk you through when 100% funding is the smart choice versus when a 10%–15% down payment protects your financial position better.
Car Loan for Government Employees in Delhi
Government and PSU employees in Delhi have access to the most competitive new car loan rates available in India, often 0.25%–0.50% lower than standard rates from the same lender.
- Central and state government employees with a PSU bank salary account frequently qualify for sub-9% rates
- SBI and Union Bank have dedicated government employee car loan schemes with minimal documentation
- Form 16 and salary account statements are typically sufficient; no additional employer certificates are required in most cases
- Nil or minimal processing fees are standard for government employee profiles
Car Loan for Women Borrowers in Delhi
Several banks offer a marginal interest rate concession, typically 0.05% to 0.25% per annum for women borrowers on new car loans. While the saving is modest on an individual EMI basis, it reflects a real rate advantage over a 5–7 year tenure. TFS specifically checks for this concession when matching women borrowers with lenders.
Pre-Approved Car Loan in Delhi
If you hold a salary account or savings account with a major private bank (HDFC, ICICI, Axis, Kotak), you may already have a pre-approved car loan offer in your banking app, often with a one-click or 10-second digital sanction for existing customers.
Instant digital sanction is available for pre-approved customers at select private banks.
Benefits of a pre-approved loan:
- Faster disbursal, sometimes same-day
- Stronger negotiating position at the dealership
- No additional income document requirement in many cases
- Pre-approved amount is confirmed before you choose the car
TFS checks pre-approval status with our lender partners during the profile assessment step, so you know upfront whether you qualify for accelerated processing.
Bank vs NBFC for New Car Loan in Delhi: Which Lender Should You Choose?
This is one of the most common questions our Delhi customers ask, and the honest answer is: it depends entirely on your borrower profile.
Choose a PSU Bank (SBI, Canara, PNB, Union Bank) When:
Public Sector Banks offer the lowest interest rates in the market, often 7.5% to 8.8% with negligible foreclosure charges. They are best for government employees, salaried professionals with high stability, and borrowers looking for long-term savings over speed. However, they are characterised by slower processing times of 3 to 5 days and stringent documentation requirements.
Best for: Government employees, PSU employees, borrowers with CIBIL 750+, buyers who are rate-sensitive and can wait 3–5 days for approval.
Choose a Private Bank (HDFC, ICICI, Axis, Kotak) When:
Private sector banks like HDFC Bank, ICICI Bank, and Axis Bank have redefined the 2026 car loan experience with Xpress approvals and 100% on-road funding.
Private lenders like ICICI Bank, HDFC Bank, and IDFC FIRST Bank tend to charge higher processing fees, often up to 2% of the loan amount, though they also provide faster approval and flexible repayment options.
Best for: Salaried employees at private companies, buyers needing 100% on-road funding, buyers who want approval within 24 hours, existing bank account holders with pre-approved offers.
Choose an NBFC (Bajaj Finserv, Mahindra Finance, Sundaram Finance) When:
NBFCs like Mahindra Finance, Sundaram Finance, and Bajaj Finserv cater to segments that traditional banks might overlook, especially in self-employed and thin credit file categories. They are the best choice for self-employed individuals with irregular income streams or borrowers with CIBIL scores of 650 to 700.
Best for: Self-employed buyers, first-time buyers without credit history, borrowers with CIBIL scores between 650 and 700, buyers in smaller Delhi NCR towns not serviced by private bank branches.
TFS Advantage: You Do Not Have to Choose
Tavishree Finance Solutions runs a simultaneous comparison across PSU banks, private banks, and NBFCs for every applicant. We tell you clearly which lender offers the best combination of rate, approval speed, and LTV for your specific profile, and we apply to just one, protecting your CIBIL score. You get the outcome of a full market comparison without the risk of multiple hard enquiries.
New Car Loan vs Used Car Loan in Delhi: Key Differences
If you are still deciding between a new and a pre-owned vehicle, understanding the loan differences is essential:
| Parameter | New Car Loan in Delhi | Used Car Loan in Delhi |
|---|---|---|
| Interest Rate | 8.45% – 12% p.a. | 9.5% – 17% p.a. |
| Loan Amount | Up to ₹1 Crore | Up to ₹50 Lakh |
| Loan-to-Value | Up to 85%–100% of on-road price | Up to 70%–80% of market value |
| Max Tenure | Up to 84 months (7 years) | Up to 60 months (5 years) |
| Vehicle Inspection | Not required | Required — lender sends valuator |
| Car Age Limit | Not applicable (brand new) | Max 8–10 years at loan maturity |
| Down Payment | 0%–15% (100% funding available) | 20%–30% typically required |
| Approval Time | 24–48 hours | 48–72 hours (includes inspection) |
| Road Tax on Purchase | 5%–11% of ex-showroom (Delhi petrol) | Not applicable (private resale) |
| Depreciation Risk | Car loses 15%–20% in year 1 | Already depreciated — lower purchase cost |
| Manufacturer Warranty | Full warranty from day one | Depends on car age |
| Best For | Buyers wanting latest models, full warranty, low EMI tenure | Budget buyers maximising value per rupee |
The 2026 verdict for Delhi buyers: On a ₹8 Lakh loan at 9% vs 10.5% over 5 years, the EMI difference is ₹609 per month and the total interest difference is ₹36,540. This is the cost premium of a used car loan's higher interest rate versus a new car loan. Factor this against the lower purchase price of a used car to determine which makes more financial sense for your budget.
Explore Used Car Loan in Delhi → Talk to Our Advisor on WhatsApp →
New Cars Available for Loan Financing Through Tavishree Finance Solutions, Delhi
Tavishree Finance Solutions processes new car loan applications across all 8 major passenger car brands available in India. Browse available models below. Click your preferred brand to view the full model range and apply directly via WhatsApp.
| Brand | Popular Models | Starting Price | Apply Now |
|---|---|---|---|
| Honda | City, Amaze, Amaze 2nd Gen, Elevate, ZR-V, Zero Alpha | ₹6.98 Lakh | Honda Car Loan |
| Hyundai | i20, Exter, Aura, Venue, Verna, Creta, Alcazar, Creta Electric, IONIQ 5 | ₹5.81 Lakh | Hyundai Car Loan |
| Maruti Suzuki | WagonR, Swift, Baleno, Dzire, Fronx, Brezza, Grand Vitara, Victoris, e Vitara | ₹4.99 Lakh | Maruti Car Loan |
| Tata | Tiago, Altroz, Nexon, Harrier, Safari, Sierra, Tiago EV, Punch EV | ₹4.70 Lakh | Tata Car Loan |
| Toyota | Urban Cruiser Hyryder, Innova Crysta, Innova Hycross, Fortuner, Hilux, Land Cruiser 300 | ₹10.99 Lakh | Toyota Car Loan |
| Mahindra | Thar, Bolero, XUV 3XO, Scorpio, Scorpio N, Thar ROXX, XUV 7XO, BE 6, XEV 9e | ₹8.00 Lakh | Mahindra Car Loan |
| Skoda | Kylaq, Kushaq, Slavia, Kodiaq, Octavia RS, Superb 2026 | ₹7.59 Lakh | Skoda Car Loan |
| Volkswagen | Taigun, Virtus, Tiguan R-Line, Tayron R-Line, Golf GTI, Tera | ₹8.00 Lakh | Volkswagen Car Loan |
Cannot find your model? We finance all new passenger vehicles from authorised dealers across Delhi NCR. WhatsApp us your preferred car and we will come back with a customised loan offer within minutes.
Why Delhi Buyers Choose Tavishree Finance Solutions for New Car Loans
There is no shortage of car loan options in Delhi; banks advertise at dealerships, online aggregators flood your inbox, and dealers push their own in-house finance. Here is what genuinely sets TFS apart:
We Compare Multiple Lenders Simultaneously; You Get the Lowest Available Rate
TFS is not tied to a single bank. We reach out to PSU banks, private banks, and NBFCs in parallel for every applicant and present a real, side-by-side comparison before you commit. This alone saves most Delhi buyers ₹15,000–₹40,000 in total interest over a standard 5-year loan.
24-Hour Approvals for Complete Documentation
For applicants with complete documentation and a pre-assessed profile, most new car loan approvals in Delhi happen within 24 hours through TFS. We proactively follow up with lenders on your behalf; you are never left waiting without a status update.
100% On-Road Funding for Eligible Profiles
We specifically identify which lenders will finance 100% of your on-road price and flag the eligibility criteria so you know before you apply whether zero down payment is achievable for your profile.
Entire Process on WhatsApp, Zero or Less Branch Visits
Application, document sharing, lender comparison, status updates, and disbursal confirmation all happen on WhatsApp. For Delhi buyers managing work, family, and commutes, this is a significant practical advantage.
EV Loan Expertise
We know which lenders offer Green Car Loan concessions for Delhi's fast-growing EV segment, and we specifically apply for these discounts for every EV buyer. Most buyers who go directly to a bank never know to ask.
CIBIL Score Protection
We submit your profile to one lender, not ten. Multiple simultaneous applications from different banks are one of the most common reasons Delhi buyers see their CIBIL score drop unexpectedly before loan approval. We prevent this entirely.
All Borrower Profiles Welcomed
Salaried, self-employed, first-time buyers, thin credit files, government employees, women borrowers- we have experience placing all borrower types with the right lenders. We never reject a profile without exploring every available option first.
Based in Delhi: Local Market Expertise
Headquartered at Netaji Subhash Place, New Delhi, we understand Delhi's dealership landscape, RTO processes, and the local lender relationship dynamics that online aggregators simply cannot replicate. When things need a human touch, we are a WhatsApp message or a 10-minute drive away.
Frequently Asked Questions
Q1: What is the interest rate on a new car loan in Delhi in 2026?
New car loan interest rates in Delhi in 2026 start from 8.45% per annum at public sector banks like Canara Bank and Union Bank of India. Private banks such as ICICI Bank start from 8.40%, HDFC Bank from 9.40%, and SBI from 9.10%. Your actual rate depends on your CIBIL score, income, employer category, and loan tenure. Tavishree Finance Solutions compares rates across multiple lenders and secures the lowest available rate for your specific profile.
Q2: Can I get 100% financing on a new car loan in Delhi?
Yes. Several lenders including ICICI Bank, HDFC Bank, and Axis Bank offer up to 100% on-road price financing for new cars in Delhi for eligible borrowers. Eligibility typically requires a CIBIL score of 750 or above, stable salaried income, and a clean credit history. TFS checks 100% funding eligibility as part of the standard profile assessment.
Q3: What is the maximum tenure for a new car loan in Delhi?
New car loans in India are available with repayment tenures of up to 8 years (96 months) at select lenders like Bajaj Finance. Most banks cap tenure at 84 months (7 years). Longer tenures reduce your monthly EMI but increase total interest paid. TFS advisors will help you find the right balance between affordable EMI and minimal total interest cost.
Q4: What CIBIL score do I need for a new car loan in Delhi?
ICICI Bank prefers a CIBIL score of 700 or above for new car loan applicants, as it reflects responsible repayment behaviour. The minimum CIBIL score generally starts at 750 or above for the best rates. Bajaj Finance accepts CIBIL scores of 650 or higher for new car loan eligibility. At TFS, we work across this full spectrum and match your profile to the lender whose eligibility criteria you best meet.
Q5: What is the difference between ex-showroom price and on-road price in Delhi?
The ex-showroom price is the manufacturer's base price. The on-road price is what you actually pay to drive the car home it includes road tax (5%–11% of ex-showroom in Delhi for petrol cars), registration fee (₹600), HSRP plates (₹230–₹400), hypothecation fee (₹1,500 if financed), FASTag (₹500–₹600), MCD parking fee (₹4,000 in Delhi for cars above ₹4 Lakh), first-year insurance (3%–5% of ex-showroom), and TCS (1% for cars above ₹10 Lakh). On-road prices add 15%–25% to the ex-showroom price. This is why a ₹6 Lakh Dzire ends up costing approximately ₹7.2 Lakh on-road.
Q6: What documents are required for a new car loan in Delhi?
For salaried applicants: Aadhaar Card, PAN Card, address proof, last 3 months' salary slips, last 6 months' bank statements, Form 16, and 2 passport-size photographs. For self-employed: Aadhaar, PAN, last 2 years' ITR with CA-certified P&L, 6 months' current account statements, and business proof. All applicants also need the dealership's proforma invoice and insurance quote.
Q7: Can I get a new car loan in Delhi as a self-employed person?
Yes. Tavishree Finance Solutions processes new car loan applications for self-employed professionals, freelancers, and business owners across Delhi NCR. ITR for the last 2 years is the primary proof of income. Self-employed professionals like doctors and CAs can get competitive rates with a 3-year ITR required at some lenders. We identify the lenders most accommodating of self-employed profiles before submitting your application.
Q8: How long does new car loan approval take in Delhi?
At Tavishree Finance Solutions, most new car loan approvals in Delhi happen within 24 to 48 hours of complete document submission. Pre-approved customers of private banks can receive digital sanction in minutes. PSU banks take 3 to 5 days for standard processing. TFS matches your urgency with the right lender — if you need the car in 24 hours, we apply to a private bank; if you can wait 3 days for a 0.5% rate saving, we go to a PSU bank.
Q9: Is there a Green Car Loan or EV loan benefit for buying an electric car in Delhi?
Yes — and it is significant. EV loan interest rates in India in 2026 range from 7.99% to 11.5% p.a. SBI offers one of the lowest rates starting at 8.55% for electric cars, with most lenders financing up to 85%–100% of the on-road price. Additionally, EVs are 100% road tax exempt in Delhi, and buyers can claim a Section 80EEB tax deduction of up to ₹1.5 Lakh on interest paid. TFS applies for all applicable EV benefits automatically for every electric vehicle buyer.
Q10: Should I take a new car loan from a bank or NBFC in Delhi?
It depends on your borrower profile. PSU banks offer the lowest rates for high-CIBIL salaried applicants but are slower. Private banks offer speed and 100% funding for well-qualified profiles. NBFCs are the best path for self-employed borrowers and those with CIBIL scores of 650–700. TFS compares all three categories and recommends the right lender for your specific situation without any lender bias.
Q11: Will applying for a new car loan affect my CIBIL score?
Every formal loan application creates a hard enquiry on your credit report, which can temporarily reduce your CIBIL score by 5 to 10 points. Applying to 5 banks independently in the same week can reduce your score by 20 to 30 points pushing you into a higher rate bracket. TFS assesses your profile, identifies the best-fit lender, and applies to just one protecting your score throughout.
Q12: Can I prepay or foreclose my new car loan early in Delhi?
Yes. The RBI has mandated zero prepayment penalty on floating rate car loans. For fixed-rate loans, most lenders charge 2%–5% of the outstanding principal as a foreclosure fee, typically after a lock-in period of 6–12 months. TFS ensures you are fully informed of prepayment terms for every offer before you sign so there are no surprises if you want to close the loan early.
New Car Loan Services Across Delhi NCR
Tavishree Finance Solutions is headquartered at 910 ITL North Ex Tower, Netaji Subhash Place, New Delhi — 110034. Our WhatsApp-first application process means we actively serve new car loan applicants across every corner of Delhi NCR without requiring a branch visit.
Areas we serve across Delhi:
| North Delhi | South Delhi | East Delhi | West Delhi |
|---|---|---|---|
| Rohini | Saket | Laxmi Nagar | Janakpuri |
| Pitampura | Vasant Kunj | Preet Vihar | Rajouri Garden |
| Shalimar Bagh | Greater Kailash | Mayur Vihar | Punjabi Bagh |
| Netaji Subhash Place | Malviya Nagar | Shahdara | Paschim Vihar |
| Model Town | Dwarka | Patparganj | Vikaspuri |
| Mangolpuri | Vasant Vihar | Loni Road | Tilak Nagar |
NCR Areas: Noida · Greater Noida · Gurgaon · Faridabad · Ghaziabad · Bahadurgarh
Whether you are in Rohini looking to finance a new Maruti Swift or in Vasant Kunj considering a Toyota Fortuner, our team processes your new car loan application with the same speed and care entirely on WhatsApp with in-person support available at our Netaji Subhash Place office whenever you need it.
Ready to Apply for a New Car Loan in Delhi? Get Started in 60 Seconds
Tell us your preferred car model and monthly budget on WhatsApp. Our loan advisor will come back with a personalised rate comparison, confirmed eligibility, and a step-by-step action plan within minutes.
✅ Interest rates from 8.45% p.a. — compared across 10+ banks and NBFCs
✅ Loan amounts from ₹1 Lakh to ₹1 Crore — hatchbacks to luxury SUVs
✅ Up to 100% on-road funding — zero down payment for eligible profiles
✅ EV Green Car Loan benefits applied automatically for electric vehicle buyers
✅ All borrower types — salaried, self-employed, first-time buyers, govt employees
✅ 24-hour approvals — WhatsApp process, no branch visit needed
