Generally, some of the most vital factors that play a significant role in any loan application are the person's credit and income. However, one also has to think which vehicle it wants to purchase, the down payment and various other points are to be considered before applying for a car loan. However, before even finding and opting for a loan, you need to check the eligibility criteria of availing a car loan.
The basic requirements for getting car loans are the age, employment status, other demographical factors, and their repayment capacity. Following is an outline for eligibility of getting car loans irrespective of the financial institution or loan amount: