{"id":378,"date":"2017-04-22T00:00:45","date_gmt":"2017-04-22T00:00:45","guid":{"rendered":"http:\/\/www.antworksmoney.com\/blog\/?p=378"},"modified":"2018-06-06T16:13:08","modified_gmt":"2018-06-06T10:43:08","slug":"avoid-car-loan-rejection","status":"publish","type":"post","link":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/","title":{"rendered":"How to Avoid a Car Loan Rejection"},"content":{"rendered":"

Did you know that car loans make up a huge majority of the funds borrowed from banks by Indians? These days, with so many banks and other NBFCs offering the facility to apply for a car loan online, it\u2019s easier than ever before to buy your dream car.<\/p>\n

While the odds of your auto loan<\/a> application getting rejected are minimal, nevertheless there are chances for it to happen. It\u2019s a common practice for lenders to scrutinize all the information you have provided and to take an in-depth look at your entire credit history. The loan approval depends on several factors that they uncover.<\/p>\n

Let\u2019s take a look at the reasons why your loan on a car can end up getting rejected.<\/p>\n

Incorrect \/ Missing Information<\/em><\/strong><\/p>\n

The information you provide to your lender when filling up the form is highly important. All of it is used by your lender to decide whether you\u2019re capable of paying back the loan or not. For instance, your address and phone number will be physically verified. Even the smallest of mistakes could lead to your loan approval getting rejected.<\/p>\n

How to avoid it<\/strong>: Make sure to double check the forms to ensure that all the information you have provided is 100% correct.<\/p>\n

No Stable Income<\/em><\/strong><\/p>\n

The topmost priority of a lender during the investigation process is to figure out if you can pay back the loan on time or not. Lack of a job or frequent job changes all can destroy the chances of getting your loan approved.<\/p>\n

How to avoid it:<\/strong> Don\u2019t apply for a brand new car loan<\/a> within months of joining your new job. Try to establish credibility by improving your prospects at work before you apply for a loan.<\/p>\n

Poor Credit History<\/em><\/strong><\/p>\n

This is another major factor that determines the outcome of your car loan process. A poor credit history signals to the lender that you have issues paying back the loan on time and make them reluctant to offer you a loan.<\/p>\n

How to avoid it:<\/strong> Try to establish your creditworthiness before applying for the loan. Pay off all your pending bills to improve your credit score.<\/p>\n

A mismatch between your Loan Amount and your Income<\/em><\/strong><\/p>\n

If the answer to the question, \u201cHow much money do you require for your car loan?\u201d is \u201cAs much as the bank can give,\u201d then it\u2019s time to hold your horses. Banks have a limit to the amount an individual can borrow based on his\/her income. So, if the loan amount you\u2019re requesting is exorbitant, then you can be sure that it\u2019ll be rejected.<\/p>\n

How to avoid it:<\/strong> Don\u2019t select a model that doesn\u2019t fit within your budget. Consider the amount you can shell out as EMI every month. Make use of an online car loan calculator to help you with this.<\/p>\n

Practicing Fraudulent Activities<\/em><\/strong><\/p>\n

There is a difference between providing an erroneous information and false data. Never engage in fraudulent activities just for the sake of increasing your chances. If found out, you could not only end up losing your low-interest car loan,<\/strong> but also your credit history becomes tarnished.<\/p>\n

Final Thoughts<\/em><\/strong><\/h5>\n

The very idea of driving your own car is enchanting. Make sure you get it right by following the guidelines mentioned above when you apply for a car loan<\/a>.<\/p>\n

 <\/p>\n

You can visit our social pages Facebook <\/a>and Twitter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Did you know that car loans make up a huge majority of the funds borrowed from banks by Indians? These days, with so many banks and other NBFCs offering the facility to apply for a car loan online, it\u2019s easier than ever before to buy your dream car. While the odds of your auto loan … Continue reading “How to Avoid a Car Loan Rejection”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":379,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-378","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-car-loan"],"yoast_head":"\r\nHow to Avoid a Car Loan Rejection - Antworks Money<\/title>\r\n<meta name=\"description\" content=\"Did you know that car loan make up a huge majority of the funds borrowed from banks by Indians? Know how not to get rejected for Car Loans.\" \/>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"How to Avoid a Car Loan Rejection - Antworks Money\" \/>\r\n<meta property=\"og:description\" content=\"Did you know that car loan make up a huge majority of the funds borrowed from banks by Indians? Know how not to get rejected for Car Loans.\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\" \/>\r\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antworksmoney\/\" \/>\r\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/antworksmoney\" \/>\r\n<meta property=\"article:published_time\" content=\"2017-04-22T00:00:45+00:00\" \/>\r\n<meta property=\"article:modified_time\" content=\"2018-06-06T10:43:08+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2017\/04\/april-blog3-06.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"2501\" \/>\r\n\t<meta property=\"og:image:height\" content=\"1251\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Team Antworks\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:creator\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:site\" content=\"@AntworksMoney\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Team Antworks\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/\"},\"author\":{\"name\":\"Team Antworks\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7\"},\"headline\":\"How to Avoid a Car Loan Rejection\",\"datePublished\":\"2017-04-22T00:00:45+00:00\",\"dateModified\":\"2018-06-06T10:43:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/\"},\"wordCount\":574,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\"},\"articleSection\":[\"Car Loan\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/\",\"name\":\"How to Avoid a Car Loan Rejection - Antworks Money\",\"isPartOf\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\"},\"datePublished\":\"2017-04-22T00:00:45+00:00\",\"dateModified\":\"2018-06-06T10:43:08+00:00\",\"description\":\"Did you know that car loan make up a huge majority of the funds borrowed from banks by Indians? Know how not to get rejected for Car Loans.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.antworksmoney.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"How to Avoid a Car Loan Rejection\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#website\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/\",\"name\":\"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.antworksmoney.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#organization\",\"name\":\"antworksmoney.com\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg\",\"contentUrl\":\"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg\",\"width\":335,\"height\":328,\"caption\":\"antworksmoney.com\"},\"image\":{\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/antworksmoney\/\",\"https:\/\/twitter.com\/AntworksMoney\",\"https:\/\/www.linkedin.com\/company\/13288601\/\",\"https:\/\/in.pinterest.com\/antworksmoney\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7\",\"name\":\"Team Antworks\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/6afb55cf81386baf97744c05fab72eb119a8574a923469f78eae31fde6ccac5f?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/6afb55cf81386baf97744c05fab72eb119a8574a923469f78eae31fde6ccac5f?s=96&d=mm&r=g\",\"caption\":\"Team Antworks\"},\"sameAs\":[\"https:\/\/www.antworksmoney.com\/\",\"https:\/\/www.facebook.com\/antworksmoney\",\"https:\/\/twitter.com\/@AntworksMoney\"],\"url\":\"https:\/\/www.antworksmoney.com\/blog\/author\/admin-2\/\"}]}<\/script>\r\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"How to Avoid a Car Loan Rejection - Antworks Money","description":"Did you know that car loan make up a huge majority of the funds borrowed from banks by Indians? Know how not to get rejected for Car Loans.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/","og_locale":"en_US","og_type":"article","og_title":"How to Avoid a Car Loan Rejection - Antworks Money","og_description":"Did you know that car loan make up a huge majority of the funds borrowed from banks by Indians? Know how not to get rejected for Car Loans.","og_url":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/","og_site_name":"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","article_publisher":"https:\/\/www.facebook.com\/antworksmoney\/","article_author":"https:\/\/www.facebook.com\/antworksmoney","article_published_time":"2017-04-22T00:00:45+00:00","article_modified_time":"2018-06-06T10:43:08+00:00","og_image":[{"width":2501,"height":1251,"url":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2017\/04\/april-blog3-06.jpg","type":"image\/jpeg"}],"author":"Team Antworks","twitter_card":"summary_large_image","twitter_creator":"@AntworksMoney","twitter_site":"@AntworksMoney","twitter_misc":{"Written by":"Team Antworks","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/#article","isPartOf":{"@id":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/"},"author":{"name":"Team Antworks","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7"},"headline":"How to Avoid a Car Loan Rejection","datePublished":"2017-04-22T00:00:45+00:00","dateModified":"2018-06-06T10:43:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/"},"wordCount":574,"commentCount":0,"publisher":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#organization"},"articleSection":["Car Loan"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/","url":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/","name":"How to Avoid a Car Loan Rejection - Antworks Money","isPartOf":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#website"},"datePublished":"2017-04-22T00:00:45+00:00","dateModified":"2018-06-06T10:43:08+00:00","description":"Did you know that car loan make up a huge majority of the funds borrowed from banks by Indians? Know how not to get rejected for Car Loans.","breadcrumb":{"@id":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.antworksmoney.com\/blog\/avoid-car-loan-rejection\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.antworksmoney.com\/blog\/"},{"@type":"ListItem","position":2,"name":"How to Avoid a Car Loan Rejection"}]},{"@type":"WebSite","@id":"https:\/\/www.antworksmoney.com\/blog\/#website","url":"https:\/\/www.antworksmoney.com\/blog\/","name":"Antworks Money - The Blog on Personal Finance | Guide to Loans, Credit Cards, Insurance and Investments","description":"","publisher":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.antworksmoney.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.antworksmoney.com\/blog\/#organization","name":"antworksmoney.com","url":"https:\/\/www.antworksmoney.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg","contentUrl":"https:\/\/www.antworksmoney.com\/blog\/wp-content\/uploads\/2018\/03\/Logo-AntworksMoney.jpg","width":335,"height":328,"caption":"antworksmoney.com"},"image":{"@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/antworksmoney\/","https:\/\/twitter.com\/AntworksMoney","https:\/\/www.linkedin.com\/company\/13288601\/","https:\/\/in.pinterest.com\/antworksmoney"]},{"@type":"Person","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/99145cefcc01e42af38c385eeecef0b7","name":"Team Antworks","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.antworksmoney.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/6afb55cf81386baf97744c05fab72eb119a8574a923469f78eae31fde6ccac5f?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/6afb55cf81386baf97744c05fab72eb119a8574a923469f78eae31fde6ccac5f?s=96&d=mm&r=g","caption":"Team Antworks"},"sameAs":["https:\/\/www.antworksmoney.com\/","https:\/\/www.facebook.com\/antworksmoney","https:\/\/twitter.com\/@AntworksMoney"],"url":"https:\/\/www.antworksmoney.com\/blog\/author\/admin-2\/"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/posts\/378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/comments?post=378"}],"version-history":[{"count":0,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/posts\/378\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/media\/379"}],"wp:attachment":[{"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/media?parent=378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/categories?post=378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.antworksmoney.com\/blog\/wp-json\/wp\/v2\/tags?post=378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}