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Get New Car Loan Up to 25 Lakh

Whether you’re buying your very first car or upgrading to a premium model, Hero FinCorp’s New Car Loan empowers you to take the driver’s seat with confidence. Designed to meet the diverse needs of modern India, our offering combines quick approvals, flexible tenures, and customized schemes for every customer profile — from first-time buyers and salaried professionals to pensioners and rural entrepreneurs.

With up to 100% financing on the on-road price, minimal documentation, and a 100% digital journey, we make your car ownership experience faster, simpler, and smarter. At Hero FinCorp, we’re not just offering a car loan — we’re offering a smoother road to your aspirations.

Features and Benefits of New Car Loan

Looking to buy a brand-new car? Hero FinCorp makes your dream of owning a new car a reality with their easy and convenient financing options. With attractive interest rates, flexible repayment tenures, and quick approval, Hero FinCorp ensures a smooth and affordable path to owning your new vehicle.

Loan Amount Up To ₹25 Lakhs

Finance your dream car—whether it's a compact hatchback or a premium sedan—with high loan amounts tailored to suit every buyer's needs.

Tenure Up To 10 Years (120 Months)

Enjoy flexible repayment terms with extended tenure options, helping you manage EMIs comfortably over a longer period.

100% Digital Process

From application to disbursal, experience a seamless, paperless process that saves time and lets you apply from anywhere.

LTV Up to 100% Against on Road Price

Get financing for the full on-road price of the vehicle—including insurance, registration, and taxes—so you can drive away without any upfront burden.

All Care Car Loan – Fund Your Car’s Service Cost (Industry First)

A first-of-its-kind offering that lets you include maintenance and service costs within your loan, ensuring your car stays in top shape without out-of-pocket expenses.

Tier 2/3 Focus – Loans Designed for Deeper India

Tailored solutions for semi-urban and rural customers, ensuring credit access where it’s needed most, with simplified documentation and processing.

Overdraft Option – Flexi-Credit Bundled with Your Car Loan

Access an additional credit line linked to your loan—ideal for managing unexpected expenses without applying for a separate loan.

Guarantor Based Program

Don’t have strong credit history? You can still avail a car loan by opting for a guarantor-based model, expanding access to first-time borrowers.

Eligibility Criteria for New Car Loan

Applying for a Hero FinCorp New Car Loan is simple. Just make sure you meet the following basic requirements:
  • Indian Residency: You must be a resident of India. 
  • Age: Applicants must be at least 18 years of age at the time of application. If you are below 25 years, a co-applicant may be required.

Documents Required for New Car Loan

You’ll need to provide essential documents such as:

  • Valid ID proof (Aadhaar card, PAN card, etc.)

  • Address proof with ownership evidence (such as electricity bill, property tax receipt, etc.)

  • Income proof, which could include salary slips, bank statements, or ITR documents.

Interest Rate and Charges for New Car Loans

Drive home your dream car without delays or complications. Hero FinCorp’s New Car Loan is designed to make your vehicle purchase smooth, affordable, and fully transparent.

  • Attractive Interest Rates: Benefit from competitive interest rates starting as low as 9% p.a., helping you save more over the loan term.

  • No Hidden Charges: With upfront disclosure and transparent terms, what you see is what you get. Say goodbye to surprise fees and fine print.

  • Easy EMIs, Your Way: Choose flexible repayment tenures and manageable EMIs that align with your budget and lifestyle.

  • Processing Fee: Just up to 3% of the loan amount, with no extra hassle - clear, straightforward, and fair.

Why Choose Hero FinCorp New Car Loan?

Up to 100% Funding – Drive Your Dream Without Delay

Hero FinCorp offers one of the highest Loan-to-Value (LTV) ratios in the industry—you can borrow up to 100% of the on-road price of your new car. That means zero down payment in many cases, making it easier to bring home your dream vehicle without upfront financial strain.

Attractive Interest Rates Starting at Just 9% p.a.

With interest rates starting as low as ~9% per annum, Hero FinCorp makes car ownership affordable. These competitive rates reduce your overall loan burden and help you plan your finances better, especially compared to higher-cost alternatives.

Quick and Hassle-Free Approvals

Time-sensitive purchase? Hero FinCorp offers fast processing, so you don’t have to wait days for loan confirmation. The digital-first journey minimizes paperwork, enabling a smoother and quicker disbursal process.

Flexible Repayment Tenure – Tailored to Your Budget

Choose a repayment plan that works for you. With flexible tenures ranging from 12 to 120 months, you can align your EMIs with your income and cash flow. Whether you prefer a short-term loan or lower EMIs over a longer period, you get complete control.

Frequently Asked Questions

Yes. Foreclosure/Prepayment are allowed subject to terms in your agreement.
Instant approval* and Disbursement will take additional one* day. Hero FinCorp aims to make the process quick and hassle-free.
Hero FinCorp finances up to 100% of the car’s On Road Price value, based on your credit and repayment capacity.
  • Maintain a good credit score
  • Increase your down payment amount
  • Add a co-applicant with a strong credit profile
  • Opt for a new model with higher resale value
No. Once disbursed, loan amount and tenure cannot be altered.
New car loan interest rates typically start lower than used car loans—beginning around 9 % p.a.—subject to credit score and income.
You can choose repayment tenures ranging from 12 months to 120 months, depending on your Profile.
Hero FinCorp offers new car loans from ₹1,00,000 up to ₹30 lakh. Actual Loan amounts depend on your credit profile, income, and the car’s ex-showroom price.
Eligibility depends on your credit appraisal and financial history, and approval is at the company’s discretion. Typically, you must be an Indian citizen aged 18–60 (salaried) or up to 70 by loan maturity (self-employed).