Can I get a car loan if I want to buy a car from another state?
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I am a resident of Bangalore, and I am earning pretty well. I am planning to sell my old car (Tata Punch), as I want to buy a second-hand car (Hyundai Creta). But the problem is that the car (which I am going to buy) is from another state. I have some savings and want to apply for a car loan from a bank.
So my question is, can I get a car loan for another state-registered car?
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You can get a car loan on an already registered car from another state, but the process of getting the car loan might be different from different banks. Before granting you a car loan, most banks require a NOC for the re-registration of your car in your state, along with other documents such as valid ID proof, address proof, and income proof. It's better to visit a bank directly to understand their requirements.