Special Car Financing Offers for Diwali: Low Interest Rates and Easy EMI Options for New Buyers

Diwali, the festival of lights, is not only a time for celebrations but also one of the best times in India to make big purchases. From gold and electronics to real estate and automobiles, every industry rolls out attractive festive offers. For car buyers, Diwali is considered the most favorable season because manufacturers, dealers, and banks join hands to make buying a car easier and more affordable.

This year, one of the major highlights is the special car financing offers for Diwali, which include low interest rates, easy EMI plans, and cashback benefits. These deals are specifically designed to help new buyers purchase their dream car without worrying about high upfront payments or financial stress.

Let’s understand how these offers work and how much you can actually benefit from them.

What Are Car Financing Offers?

Car financing is a loan-based arrangement that allows buyers to purchase a car by paying monthly installments (EMIs) instead of paying the full price upfront. During Diwali, banks, non-banking financial companies (NBFCs), and car manufacturers introduce special finance schemes to boost sales. These include:

• Lower interest rates on car loans
• Zero or minimal processing fees
• Reduced down payment requirements
• Flexible EMI options (step-up, balloon EMI, or tenure extension)
• Cashback and festive vouchers

Low Interest Rates This Diwali

Interest rates play a crucial role in determining the affordability of a car loan. A small difference in the rate can save you thousands of rupees over the loan tenure.

• Banks and NBFCs are offering car loan rates starting from 7%–8.5% per annum during Diwali.
• Some brands have tie-ups with specific banks to offer subsidized interest rates, going as low as 6.75%.
• Certain premium brands also offer 0% interest EMIs for select models under limited festive deals.

✅ Example: On a ₹10 lakh car loan for 5 years, a 1% lower interest rate could save you up to ₹25,000–₹30,000 over the tenure.

Easy EMI Options

Diwali car financing deals focus on making EMIs more flexible for new buyers. Some common festive EMI schemes include:

1. Step-Up EMI Plans – Start with lower EMIs for the first year, which gradually increase as your income grows.
2. Balloon EMI Schemes – Pay smaller EMIs throughout the tenure and a larger lump sum at the end.
3. Zero Down Payment – Buy a car without paying a heavy upfront amount.
4. Longer Tenures – Stretch EMIs up to 7 years to reduce monthly burden.
5. Festive Cashback – Many banks and digital wallets provide ₹5,000–₹25,000 cashback on financing during Diwali.

Why Choose Car Financing Offers During Diwali?

1. Lower Financial Burden – Low interest rates reduce overall cost, while flexible EMIs ease monthly stress.
2. Festive Discounts + Finance Offers – You can combine cash discounts on the car with bank financing benefits.
3. Zero Processing Fees – Many banks waive loan processing charges (saving up to ₹10,000).
4. Higher Loan-to-Value (LTV) – Get up to 100% of the car’s on-road price financed.
5. Exclusive Tie-ups – Car brands tie up with banks for exclusive Diwali-only loan deals.

Tips to Maximize Benefits from Diwali Car Financing

• Compare Multiple Offers – Don’t settle for the first loan offer; check interest rates across banks and NBFCs.
• Negotiate with Dealerships – Many dealers offer additional perks if you finance through their partner banks.
• Look for Hidden Charges – Ensure there are no prepayment penalties or hidden fees.
• Check Credit Score – A higher credit score can help you get the lowest rates.
• Combine with Exchange Offers – If you are exchanging an old car, club it with festive financing for maximum savings.

Conclusion

This Diwali, buying a car is more affordable than ever thanks to special car financing offers. With low interest rates starting from 7%, easy EMI schemes, zero down payment options, and festive cashback deals, new buyers can fulfill their dream of owning a car without financial strain.

Whether you are a first-time buyer or upgrading to a bigger model, Diwali is the perfect occasion to take advantage of these financing schemes. By carefully comparing offers and negotiating with dealers, you can save a significant amount while driving home your dream car this festive season.

Frequently Asked Questions (FAQs)

Q1. What are the average car loan interest rates during Diwali?
Most banks and NBFCs offer car loans at 7%–8.5% per annum during festive sales.

Q2. Can I get zero down payment on a car loan this Diwali?
Yes, many banks and dealers offer zero down payment options, especially on popular models.

Q3. Are Diwali car loan offers available for used cars too?
Mostly these schemes are for new cars, but some NBFCs also extend festive financing for certified used cars.

Q4. Can I combine Diwali car financing with exchange offers?
Absolutely! You can club exchange bonuses on your old car with festive finance offers for extra savings.

Q5. Do festive offers include cashback or vouchers?
Yes, many banks and digital wallets provide additional cashback (₹5,000–₹25,000) on festive car loans.