• Q. How I can get car loan while my cibil score is 500 plus?

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    4 Answers
    Aditi
    Aditi | 5 years ago

    Lenders look for a high CIBIL Score and good credit profile before determining the final status of your loan application. In the case of a car loan, the car serves as collateral. Therefore, even with a bad credit score, there are chances of a bank or NBFC approving your car loan application. You may approach banks like HDFC if you have a CIBIL score of 500 plus (550-600) they may help you out with something.If you have a low CIBIL score you can take a car loan with a co-applicant or opt for a used car or a low-priced new car. If none of these tips work, you can go for a low-priced second-hand car. Several organized dealerships in India sell low-cost used vehicles. The sale price is low, so you can easily pay it out of pocket.

    1 Reply
    Anil
    Anil | 7 years ago

    Contact to car financing authority.

    0 Reply
    Vishwanath
    Vishwanath | 7 years ago

    Ask your banker about your CIBIL score and move forward.

    0 Reply
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