Magnum Honda brings you customised car loans from leading banks in India to help you get a loan to purchase your dream Honda car. Just fill the form once and get custom loan quotes with upto 80% financing on select car models, flexible repayment tenure and pocket-friendly EMIs from our finance partners.

The maximum loan amount you get is different for different banks. Based on the car you choose, you can check your eligible loan offer. Generally most banks offer loan for 80% to 90% of the on-road price of the car. Few banks also offer up to 100% financing on new car loan based on your income and credit history.

The interest rates vary on the basis of car models, tenure selected and your preferred banking partner. We provide offers starting from 9% per annum. Your exact rate of interest will be determined by the lender on the basis of your loan application. Lenders also generally charge you with a processing fee directly deducted from your car loan amount which can be negotiated with the lender at the time of sanction of your application.

Generally loan providers offer new car loans for tenures ranging from 1 year to 7 years. You can choose the loan tenure as per your preference.

EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your car loan. These payments include the principal amount as well as the interest. The amounts of EMI you have to pay depend on the tenure of your car loan. For a longer tenure, loan repayment is spread over greater number of years and the installments are smaller whereas for a shorter tenure, installments will be larger.

Generally, the bank or lender will need to review the following to determine your new car loan eligibility:

• Your credit history (based on a soft review of your credit report)
• Your income
• Your age and citizenship status
• Other debts and monthly financial obligations
• Your employment status