Automobile Business Loan

Want a fast automobile loan to accelerate your slow-moving automobile business? You can get hassle-free auto & engineering loans from Ziploan up to 7.5 lakh. After submitting a few documents, you can apply online for an automobile business loan within 3 days*.

instant business loan

ZipLoan is the Lender of Choice for Small Businesses.

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Minimal Documentation

No balance sheet needed

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No Prepayment Charges

After first 6 EMIs

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Receive Funds Within 3 Days*

Straight into your account

What is an Automobile/Automotive Loan?

Auto business loans are loans that financial institutions provide to automobile owners as a method of working capital management. Automotive business loan can be use for purchasing batteries, auto ancillaries, auto repair equipment, tires, building construction, mechanic shop renovation, accessories, and equipment investment, automobile loans can also be used for construction and interior renovation.

Top Features of Auto Repair Shop Loan:

  • Auto Finance up to Rs 7.5 lakhs - We offer an automobile business loan of up to Rs 7.5 lakhs. The ticket size is flexible, so you can choose the amount that you need.
  • *Loan in 3 Days* - We use online document submissions to expedite our application processing. Your loan amount will be disbursed within three days* after submitting the required documentation.
  • Apply Online - To make the application process easy and convenient for our customers, the entire application process is done online. 
  • Best Interest Rates - Rates are determined by the ability of your business to repay the loan.
  • Flexible Repayment Tenure - We offer repayment terms ranging from 12 months to 36 months. Thus, you can repay the loan amount over time.
  • No Prepayment Charges - No prepayments after the first six EMIs have been paid (excluding the pre-EMI).

Benefits of Automotive Business Financing from ZipLoan

The following are the benefits of availing of an automobile loan from us:

  • Manage Working Capital Efficiently: With a business loan for automotive, borrowers can buy auto equipment, tires, batteries, renovate the auto repair shop, and transform their business into a profitable operation.
  • Business Expansion: ZipLoan offers loans for automobiles that can help you expand your supply network, service, and product marketing.
  • Raise Credibility: With our auto business loan scheme, you can grow your business and meet orders on time, which increases your credibility.

Eligibility Criteria for Automobile Loan

To allow as many businesses as possible to qualify for our automotive finance, we have made our eligibility criteria are simple.

  • The business has been established for more than two years.
  • Minimum annual turnover of Rs. 10 lakhs in the previous year.
  • There must be no default history for the business.
  • ITRs from last year should exceed Rs. 1.5 lakhs.
  • Either the borrower owns a house or a business.

Documents Required for Auto Repair Shop Loans

 ProprietorshipPartnershipPvt. Ltd. / LLP / One Person Company
Bank statement (12 months)
Business registration proof
PAN Card
Aadhar Card
ITR of the previous two years

Automobile Loan Fees & Interest Rate

Customized Interest RatesYes
Loan Tenureup to 36 months
Pre-closure chargesNil** after paid the first 6 EMIs
Eligibility CriteriaAnnual turnover more than Rs.10 lakh
Loan Amount₹ 1 Lakh – ₹ 7.5 Lakh

How to Apply for an Automobile/Automotive Loan

Here are three steps process to automobile loan apply online from ZipLoan:

  • Submit Application - Fill out our simple application to get an automobile loan to offer.
  • Upload Documents - Verify your documents by uploading a digital copy.
  • Get Sanctioned - Get approved and disbursed in 3 days*.
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Solving Real problems

Ram Yadav

I have been running my business for over twelve years but have not been able to undertake expansion activities. I applied to Ziploan and they cleared my loan application in a very short span of time.

Kanchan Lata

I approached Ziploan for an equipment finance loan. Their eligibility criterion was easy to fulfill because it required only 2 years ITR and 10 lacs of annual banking credit.

Ready for Ziploan to
empower your business ?