Car Loan Finance In India
Have you always desired to own your dream car but never had the money to finance it
? Car loan finance will do it for you. Several large-scale companies offer car loan finance as most people buy cars by undertaking a car loan. It has several advantages:
You are allowed a convenient repayment of the loan with through EMIs
Various attractive car loans allow you to choose a plan that best fits your need
Documentation procedures have now become hassle-free and convenient
Repayment options range from cheque to cash to ECS to Pay/Draft order
Different plans offer different interest rates
Most companies need the following documents in order to offer a car loan.
Proof of identity
Income proof
Address Proof
Years of Service/ Profession
One can go in for a new car loans with a fixed interest rate or one with a variable rate loan. With a fixed interest rate, which most people usually opt for, the interest rate remains the same throughout the life of the loan. While in the case of a variable rate loan, the interest rate changes over the course of the loan.
Buying a car can be a very big decision for an individual or a family. Depending on your income, your ability to pay monthly instalments, other liabilities, your budget and how you plan to use the car, you can avail a car loan for new cars and used cars.
Banks charge a higher rate of interest for a loan for used cars as the depreciation is much less for a used car. An interesting point to note while buying a new car is the rate at which it depreciates. Research suggests that when you drive out of a showroom in a new car and reach the other side, it has already depreciated between 20-40%!
Vehicle financing includes financing of various vehicles such as buses, trucks, tempos, trippers, LCV (light commercial vehicles), HCV (Heavy commercial vehicles), MCV (Medium commercial vehicles) and three wheelers. Loans are available for this as well.
by: James Kapoor
No Closing Cost Reverse Mortgages: The Shocking Money Savings What is Gravity on Clickbank? How You Can Make Money From ClickBank Fast Loans Uk-avail Finance Instantly The Reasons Behind Mortgage Rate Fluctuations Instant Approval Payday Loans No Faxing : Make The Borrowing Smart Loan Against Car- Get It Without Too Much Of Hassle Long Term Loans, Apply Now And Approved Instantly Unsecured Low Cost Loans - Collateral Free And Cheap Advances No Checking Account Payday Loans: Saves From Financial Harassment Asia's Top 5 Banks by: Morgan Capital & Research Clickbank Formula Setting Up Your Products on RAPBank The Easy Way