#cheapest car loan
Best Car Loan in India 2015 at 9.55% November
Top Car Loan 2015 ✔ Lowest Interest Rates ✔ Loan Amount ✔ Instant e-Approval ✔ Specialties/features of Best Car Loan/Auto Loans ✔ Apply Online Now with Top banks.
Having a car is a dream of almost every one of us. It not only serves the purpose of transportation, but also acts as a fixed asset in the property. Nowadays, a car has become a necessity rather than a luxury. Many professionals have to travel a long distance from their houses to workplaces. In such cases, car becomes an easy and time-saving mode of transportation. Buying your own car or a used one is not difficult now. You can simply search for the best car loan and fulfill your dream of having a vehicle. Demand for finance of new cars has majorly arisen from the areas of Mumbai, Delhi, Bangalore, Rajasthan and Punjab. Since a shorter term loan, such as a 3 year loan, provides a lower rate of interest, majority of people prefer a shorter term of loan.
Following are considered as Top banks that offer affordable and Lowest Rates on car loans: Last Updated as on 4 November 2015
Specialties/features of Best Car Loan/Auto Loans
Car loan basically serves the individuals who are either salaried or self-employed. The vehicle loans are available for fixed tenure at variable interest rates. There are two types of interests available: fixed and floating. Generally, it has been observed that the interest rates on car loans vary often if compared to other loans. Also, they are considered as secured loans. Thus, lenders are ready to take more risks while offering this amount to the customer. Below are the factors which affect the car loan:
- Income of the customer ( annual and monthly) – The salaried professionals can obtain loan around three times of their annual income, while self employed persons can apply for the amount five to six times of their annual income.
- Prices of the cars – You have to check whether the price of the car is covered with the loan or not. Usually, 80-90% price is covered by the bank loan. However, you must calculate the loan amount you are eligible to obtain and the actual price of the car.
- Market interest rates and other charges – The availability of the car loan will depend upon the market demand for the same. It also varies according to the processing fees, charges and processing requirements etc.
Different Options available for Auto loans
Many banks and financial institutions offer car loans. It is a secured loan product which is also beneficial for the lender. The lender can seize the car, if buyer is unable to repay the loan amount. If you want to search for the best loan available, you have to find out the car model, your eligibility for the loan amount and tenure you would select to repay the loan. Later, you can go for the options that are available in the market.
There are many other banks which offer low interest rates and maximum tenure. You have to select the best car loan according to your capability to repay and requirement of the model of preferred car .
New About Car Loans
Maruti Baleno Launched at Rs.4.99 lacs
Maruti launched its much awaited premium hatchback car today (26.10.2015) at starting price of Rs.4.99 lacs ex showroom delhi. You can check baleno hatchback at its nexa showrooms of maruti in India. Baleno competes with Hyundai i20, Polo, Ford Figo, S Cross Swift. Maruti claims fuel efficiency figures of 27.39 kmpl for Diesel 21.4 kmpl for Petrol powered baleno. Diesel Version of Baleno starts from Rs. 6.16 lakhs. In terms of features Maruti Baleno comes with a SmartPlay infotainment system with Apple CarPlay, navigation and voice command; Bluetooth, USB and AUX connectivity; keyless entry and go system, push button start/stop, reverse camera, tilt and telescopic steering wheel, puddle lamps, anti-pinch driver-side window, power foldable and adjustable ORVMs, auto climate control, reverse parking sensors with camera, among other features. Maruti Suzuki is offering dual airbags, ABS with EBD, seatbelt pre-tensioners and force limiters as standard across all variants of the Baleno.
Added on 26 Oct 2015
Boost for auto sales ahead of festive season
RBI rate cut will hike sales of cars in India during coming festive season 2015. Impact on EMIs is expected to be very minimal a five-year loan of Rs 5 lakh will save you Rs 7,200 over the payment tenure of 5 years. Reduction in interest rates will lower the EMIs, thus bringing down the cost of ownership. This festival gift of rate cut will assure growth. Almost 65% of Cars are financed through banks. These Days Renualt Kwid, Maruti Alto 800, k10, Hyundai Creta, Ford Figo, Figo Aspire creates a huge buzz in market for its premium value for money offerings.
Thanks, for reading this article and Hope It Clears all your doubts and In Future you get a best deal for your Car Loans.
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