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Car Refinance

Your car can fund your next plan.

Funding: Up to 150% of valuation for strong profiles
Interest rate: From 12.50%* p.a.
Use: Any personal or business need
Tenure: 12 — 60 months

Apply for CR or message on WhatsApp

At A Glance

Purpose: Raise money against a car you already own and have paid for
Who can apply: Car in your own name, with no loan on it or one that can be taken over

See what you will need

The Short Version

What Car Refinance actually does for you.

Raise money against a car you already own and have fully paid for. In some cases, strong income profiles may be able to borrow more than the car's current value. You keep driving the car while you repay.

What's included

Financing on a car with no existing loan against it
Top-up above valuation available to well-qualified applicants
Takeover of an existing car loan also possible
Fast processing on minimal paperwork

Do you qualify?

Car registered in the applicant's own name
No existing loan on the car, or one that can be taken over cleanly
Documented income and a credit report free of active defaults
Resident Indian, salaried or self-employed
A CIBIL score of around 700 or above may help you get better terms; lower scores are reviewed case by case

Which One Are You

SalariedYou draw a fixed monthly salary from an employer, in a private company, a government job or a public-sector unit. Lenders mainly check your salary slips, Form 16 and the salary credits in your bank account, and how long you have been with your employer. A steady job and a regular record of salary credits usually make the process simpler.

Self-EmployedYou run a business, practise a profession such as medicine, accountancy or architecture, or work as a freelancer. Lenders look at your ITRs, your financial statements, your GST returns and your business bank statements to judge how steady your income is. Returns filed on time and accounts in order make approval easier.

Documents Required (Checklist)

For Salaried

Last 3 months' salary slips
Last 6 months' bank statement showing salary credits
Latest Form 16 (or last 2 years'), and ITR with Form 26AS if your income is taxable
Details of existing loans, with EMIs and statements

For Every Applicant

KYC (PAN, Aadhaar, address proof)
RC, insurance and any current loan statement

This is the usual list for each type of applicant. Get the exact checklist for car refinance, sent as a PDF you can save or print.

Fees and other charges

Besides interest, a lender may charge a few fees. It helps to know them before you apply, so there are no surprises.

Processing fee

A percentage of the loan amount plus GST, often somewhere between about 0.5% and 2%. Some lenders reduce or waive it during offers.

Documentation and hypothecation charges

A small fee for the paperwork, and for recording the lender's charge on the vehicle's registration (RC).

Foreclosure and part-prepayment

Closing early may carry a charge, usually a percentage of the outstanding amount, depending on the lender and how long you have held the loan.

These are general guides and every lender sets its own fees. Your expert will share the exact charges in writing before you sign.

Why Growth Capital Services

One conversation, many lenders to compare.

We are a loan consultant, not the lender. We help you compare options from 75+ Banks and NBFCs, prepare your documents, and follow your application through each step.

Check Your Eligibility Talk to Our Loan Expert

Important note: Interest rate, loan amount, tenure, charges, eligibility, approval and disbursement depend on the policy of the respective Bank or NBFC, your profile, credit assessment and the applicable terms. Growth Capital Services is a loan consultant and does not lend money itself. The details on this page are for general information.

Run the numbers

Calculators for your Car Refinance

Try your own figures before you apply — nothing is saved or sent.

Balance Transfer Calculator

Is a transfer worth it?

Compare your current loan against a lower-rate offer and see the real net savings after fees.

Outstanding Principal

₹40.00 L

Remaining Tenure

Years

Current Rate

New Offer Rate

Processing Fee (New Lender)

₹20,000

Current EMI

₹44,216

New EMI

₹39,390

Net Savings

₹8.49 L

Monthly Savings

₹4,826

Fee Breakeven

5 mo

Excludes any foreclosure charges from your current lender — ask us to check before you switch.

Talk to an Expert

Step-by-step guide

Car Refinance process, step by step.

A car you already own can raise money for other needs. Here is how.

Share your car details

Tell us the make, year, registration and any loan still running on it.

Value the car

We estimate its value and the amount a lender can fund against it.

Choose a lender

We compare lenders on rate, limit and tenure.

Submit documents

You provide the registration certificate, insurance, KYC and income proof.

Sanction and disbursal

After the lender's checks, the money is credited, and any old loan is closed first.

With GCS, your expert looks at your profile, matches it with suitable lenders, and coordinates with the banks for you. That means less confusion and more confidence when you apply.

Worth Comparing