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How to go for car loan

20 Apr, 2009 By:Unknown in Car Loan, ,

Car has become a necessity in today's life. Most of people who wish to own a car normally buy a car on a car loan. A car loan is offered by banks and other financial institutions. Due to the growth in the car market lots of car companies are offering economical cars to the Indian consumers and banks are also competing against each other to offer the best car loan deals. You should be careful before going for any loan.

It is advisable to do proper research before going for any car loan. Ask the people who have opted for a car loan their views on which bank offers the best loan. Do not get trapped by sales executives of banks who keep claiming to offer the best loan deal. Have a proper look at the terms and conditions of all the banks and try to read the fine print.

It is also important to look at the length of the repayment term. Choosing a lengthy repayment term will mean each monthly repayment is lower and this might well look attractive when making your application. However, the longer you take to repay the loan the more interest you’ll have to pay in total. It’s not unusual to have to repay double the amount you’ve borrowed once the loan term gets into the region of decades rather than a few years.

Most of people go for unsecured loans. However, if you go for a secured loan then you will get a better deal from the banks. Secured loans rely on using the value of the borrower’s property to stand as collateral, or a guarantee that the loan can be repaid even if the borrower stops making payments. Unsecured loans offer no such guarantees to the lender, and so are harder to get - you need a better credit rating.

 

Comment:(7)
on 02 Nov, 2016

Hello every, I am dealing in loan new and used care

For more detail Pls call @ 9592225555 Harjinder singh, Chandigarh Mohali PANCHKULA or near by.

on 24 Aug, 2016

sir mujhe marut ki Wagner taxi new leni hai tho mujhe loan chahi ye mil sakti hai palot ka pepar or mark sheet par mil sakti hai tho please call me 7503265082

on 18 Dec, 2015

You should have an agent that is faimliar with the short sale process guide you through this. I wouldn’t offer fair market value since the lender is almost always going to counter your offer. The price the lender will accept depends on different factors, such as what type of loan it is.You can take the fair market value and offer a bit less. Once the lender does the BPO, you will have a better understanding of what they are looking to net.If your offer is not accepted at first, they will just counter your offer. You then decide if that’s a number you are willing to come up towards.References : Was this answer helpful?

on 18 Dec, 2015

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on 15 May, 2015

Dear sir .Iwant to take loan as used car. or fainace this car







Thanking you
Dhirendra samal
9031399090

on 19 Mar, 2015

sir, I wd like to purchase a swift vxi 2008 model car.
It's eligible for "used car loan" in ur fins...

on 07 Mar, 2013

Dear Sir

I have a new Alto 800 Car , I want to take loan as used vehicle or finance this car.

What is rate of interest on used vehicle and on New vehicle.

Thanking you

M M Ali
9811661323

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