The Car Loan tenure is the amount of time in which the borrower pays back the debt. It is typically expressed in years and is a key component of the overall cost of the Car Loan. It is important to understand the various factors that affect tenure, such as interest rates and fees, so that you can make the best decision for your needs. The KFS must include all of the critical details of the Car Loan, including interest rates, fees, and repayments. The new guidelines apply to all retail and MSME term loans, but not credit card receivables.