Documents Required for a Car Loan in India (2025) – Complete List for Salaried & Self-Employed

 

🧾 Documents Required for a Car Loan in India (2025) – Complete List for Salaried & Self-Employed

Planning to buy a car with a loan in 2025? Then knowing exactly what documents are required for a car loan will save you time and speed up your approval.

Whether you are salaried, self-employed, or even a business owner, this guide will help you understand what paperwork you need and how to prepare it properly for a smooth car loan process.

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📋 Why Are Car Loan Documents Important?

Banks and NBFCs use your documents to:

• Verify your identity

• Assess your income and loan repayment capacity

• Validate your address and job status

• Check your creditworthiness (via CIBIL)

Missing or incorrect documents can delay approval or lead to outright rejection. So, let’s break down the document requirements based on your profession.

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👨‍💼 Documents Required for Salaried Individuals

If you work for a company or the government, these are the standard car loan documents you’ll need:

✅ 1. Identity Proof (Any One)

• PAN Card (mandatory)

• Aadhaar Card

• Passport

• Voter ID

• Driving License

✅ 2. Address Proof (Any One)

• Aadhaar Card

• Electricity Bill (latest)

• Rent Agreement

• Passport

• Telephone bill (not older than 2 months)

✅ 3. Income Proof

• Last 3 months' salary slips

• Form 16 (last 2 years)

• Bank statements of last 6 months (salary account)

✅ 4. Employment Proof

• Employee ID card (optional)

• Employment certificate or appointment letter (if asked)

✅ 5. Car-Related Documents

• Quotation/proforma invoice from the car dealership

• Car insurance details (if already selected)

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🧑‍💼 Documents Required for Self-Employed Individuals / Business Owners

If you’re self-employed, you need to prove your income, business, and stability.

✅ 1. Identity Proof (Any One)

Same as salaried: PAN, Aadhaar, Passport, Voter ID, Driving License

✅ 2. Address Proof (Any One)

Same as above

✅ 3. Business Proof

• GST registration certificate

• Shop Act license or trade license

• Company incorporation documents (if applicable)

✅ 4. Income Proof

• Last 2 years' ITR (Income Tax Returns) with computation

• Profit & Loss statement (audited preferred)

• Balance sheet

• Bank account statements of last 6–12 months

✅ 5. Car-Related Documents

• Car quotation/invoice

• Car insurance (if applicable)

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👵 Documents for Pensioners or Retired Individuals

Required:

• Pension slips or pension bank statement

• Retirement letter (if available)

• Form 16 (if receiving post-retirement income)

• PAN, Aadhaar, and address proof

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🧒 Documents Required for Students (With Co-Applicant)

If you're a student, you can’t apply for a car loan independently unless you have a stable income. You need a co-applicant (usually a parent or guardian).

Required:

• PAN & Aadhaar

• Co-applicant’s income documents

• Proof of admission or student ID card

• Relationship proof with co-applicant

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📝 Additional Documents (May Be Requested)

• Passport-size photographs (2–3 copies)

• Signature verification (from bank or application form)

• Credit score report (bank checks themselves)

• Loan application form (with filled-in details)

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📌 Things to Keep in Mind

1. PAN Card is Mandatory

You cannot get a car loan without submitting your PAN card. It’s linked to your CIBIL and financial records.

2. Name Must Match Across Documents

Avoid mismatches in name/spelling. It should be consistent on PAN, Aadhaar, bank statements, etc.

3. Ensure All Documents Are Up to Date

For example, don’t use old electricity bills (over 3 months) or outdated salary slips.

4. Bank May Request Originals for Verification

While submitting copies, be ready to show originals for verification.

5. Digital Submission Is Now Common

Most banks allow uploading scanned copies on their website or app. However, some may still need physical verification.

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⚙️ How to Submit Documents for Car Loan

Online (Preferred in 2025)

• Visit the bank or NBFC’s official website

• Fill in car loan application

• Upload scanned documents (PDF/JPEG)

• Get eKYC verification done via Aadhaar OTP or DigiLocker

• Wait for pre-approval / call from the loan officer

Offline

• Visit the branch

• Fill out the car loan form

• Submit photocopies with originals for verification

• Receive application reference number

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💡 Pro Tips to Speed Up Approval

1. Keep a CIBIL Score Above 700+ – You may get faster approval and lower interest.

2. Use DigiLocker – Upload documents from DigiLocker to avoid photocopies.

3. Get Pre-Approved Offers – If you have a salary account with a bank, check for pre-approved car loan deals.

4. Avoid Mismatches in Signature – Match your loan application signature to PAN/Bank.

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🤔 What If You Don’t Have All the Documents?

• No PAN Card? → Apply for one online – it’s a must.

• Low ITR? → Try NBFCs like Tata Capital or Mahindra Finance. They are flexible.

• No Salary Slip? → Provide bank statement showing salary credit or use Form 16.

• Mismatch in Documents? → Submit an affidavit or correction proof.

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✅ Final Thoughts

Getting a car loan in India in 2025 is easier than ever, especially if your documents are ready and accurate. Whether you’re salaried, self-employed, or retired – make sure you:

• Keep documents updated

• Submit a complete application

• Maintain a strong credit history

With this checklist from Finance Ka Sab, you can now confidently apply for a car loan and drive your dream car home faster 🚗💨

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