Auto Loan is a secured product, so even if you have defaulted - still there are ways to get Car Loan
But before that - suggest to pay off your outstanding first on your credit card and get NOC - though this may not be much useful in your present car loan application, but by sure can help you in to get future loans
Now in respect to process for car loan for defaulter
- Either you may approach a private financier, they fund you 60% to 65% of car value as loan with a local guarantor. However - one major drawback is the terms, conditions and very high interest rate which generally is 18% to 24% pa
- Alternately, will suggest - to use your funds - put it as FD in bank and get a loan against FD as collateral. This way your loan will be disbursed and once you make timely payments - will also help in improving your credit score and rating - After effect of this loan can only be seen after 2 to 3 yrs - once you intend to take a new loan in future. At that time - due to timely repayments and clearance of outstanding against your credit card = you will be able to get a new loan easily.