Ford, General Motors, Hyundai, Daewoo, Fiat are offering their latest models with fuel-efficient technologies, and very comfortable finance schemes too. You will need a minimum yearly in-come of Rs 100,000, i.e. about Rs 8,500 or above per month. You will need to show your proof of income, the salary-slip. If you're self-employed, then a copy of the last IT returns will needed to show your earnings. You can exercise your option but it is advisable to go for loans beyond 24 months.
Many companies give a fee-waiver.
However do not judge a car loan company by its processing fee. This is yet another variable that can or cannot be charged. But as a customer you have every right to know beforehand if there is a service fee. You should know how long, once you have submitted the requisite papers. It s worthwhile to opt for a car that has some resale value.