How Much CIBIL Score Is Required For A Car Loan?
The minimum CIBIL score for a car loan may vary depending on various factors such as the loan amount, tenure, and other eligibility criteria. In general, 700 is the minimum CIBIL score for a car loan approval. A CIBIL score of 700 and above is generally considered to be a good score. It improves the chances of getting approved for a Used Car Loan and can also help you negotiate better loan terms and interest rates. Additionally, a good CIBIL score reflects your creditworthiness and responsible credit behavior, which can positively impact your future loan applications as well. Make sure, you maintain a good CIBIL score before you apply for a Used Car Loan to avail of a loan at attractive terms.