Q. How I can get car loan while my cibil score is 500 plus?

Lenders look for a high CIBIL Score and good credit profile before determining the final status of your loan application. In the case of a car loan, the car serves as collateral. Therefore, even with a bad credit score, there are chances of a bank or NBFC approving your car loan application. You may approach banks like HDFC if you have a CIBIL score of 500 plus (550-600) they may help you out with something.If you have a low CIBIL score you can take a car loan with a co-applicant or opt for a used car or a low-priced new car. If none of these tips work, you can go for a low-priced second-hand car. Several organized dealerships in India sell low-cost used vehicles. The sale price is low, so you can easily pay it out of pocket.

Contact to car financing authority.

Ask your banker about your CIBIL score and move forward.