The road to women empowerment has seen tremendous acceleration. No longer just passengers, women are now firmly in the driver's seat and leading change across all sectors of society.
A notable manifestation of this shift can be observed in the automotive industry, where women car owners are on the rise. This is thanks to the accessibility of Car Loans. Let's take a journey to understand how this is breaking barriers and driving change.
The rise of women car owners: a paradigm shift
Women are not merely buying cars; they are changing the industry. From preferences in design and functionality to utilising Car Loans to make informed and intelligent purchasing decisions, women are leading the charge.
Today, many banks, including Axis Bank, offer Car Loans that are easy to access and available at competitive rates, with 100% on-road financing, if required. These features ensure that the unique needs and financial aspirations of women customers are addressed easily.
Also Read: Affording your dream car: A guide to luxury Car Loans
Navigating the Car Loan process
Understanding the Car Loan process is essential for anyone looking to own a vehicle. From the Car Loan interest rate to the flexibility of repayment, the journey can be smooth and hassle-free.
Features of a Car Loan
- Up to 100% on-road funding for up to 7 years: Axis Bank maximises convenience with complete funding for the on-road price of the vehicle.
- 50bps lower rate of interest for electric vehicles: The bank practices a forward-thinking approach to supporting sustainable transportation.
- Instant sanction for pre-qualified customers: With Axis Bank Car Loans, pre-qualified customers can get instant loan disbursals, accelerating the purchase process.
Documents required for a Car Loan
- Application form
- Proforma invoice
- Passport size photograph
- KYC documents
Also Read : What is the best time to buy a used car
Charges for a Car Loan
- Processing fee: This is a nominal charge levied for processing the Car Loan application.
- Prepayment charges: If you choose to pay off your loan before the tenure ends, certain charges may be applicable.
- Late payment penalties: Delaying the EMI payment might attract penalties, thus you should ensure timely adherence to the repayment schedule.
The trend of rise of women car owners is facilitated partly by Car Loans, such as the competitive and customer-friendly Axis Bank Car Loan.
These features and procedures are crafted with the customer's convenience in mind, making the Axis Bank Car Loan an attractive option for women looking to own a vehicle. It reflects a broader commitment to sustainability, customer satisfaction, and alignment with the new era of women car owners, all of which contribute to a paradigm shift in the automotive industry.
Conclusion
The road to success is paved with determination, innovation and accessibility. Women are shattering stereotypes and taking the wheel in a domain once considered predominantly male-driven. The rise in car ownership among women, powered by the ease of Car Loans, is more than a mere trend; it is a statement, a movement, and a celebration of progress.
Axis Bank Car Loans are a notable example of how financial institutions align with this societal shift. It's a drive towards a future where the only limit is the horizon itself, and every individual, irrespective of gender, has the power and means to explore it.
So, whether you're a woman looking to own your dream car or someone supporting this empowering movement - remember, the drive to change starts with you.
Also Read : Can you get a car loan if you are self-employed?
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision
