Listing ID #1383860
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Contact SupplierCar Loan, one of the most complicated and tough Loans in the market so far! We are a one-end destination to obtain Car Loan Services in Maharashtra, India. Our Services will provide you an easy repayment scheme whilst taking pleasures of having your own Car. One can choose the suitable tenure and can pay easy EMI’s. We are backed by strong and close associations with the reputed private sector banks, which will give the free will to choose the required option. Get all this from us at the most competitive prices!
The Interest Rate : As mentioned earlier, the interest rates on auto products offered by various lenders varies widely, and are highly volatile depending on factors like credit score of the borrower, make and the age of the car and quantum of car loan sought by the borrower. A five-step process to secure the best car loan deal is :
The Eligibility : The maximum loan amount you’d be eligible for would be about 2.5- 3 times your annual salary for salaried professionals and nearly six times the annual income for self-employed.
How to Apply : Rather than rely on the bank you are applying to, log on to http://www.cibil.com/accesscredit.htm and follow the instruction given there to acquire a copy of your credit report. Check your credit report thoroughly to spot wrong entries, discrepancies which are common. If you spot errors, you can approach Creditfina for rectifying the same and have your CIBIL report repaired.
Next, approach the bank and fill out all the documentation, bearing in mind that you ask for a fixed rate of interest for the entire tenure. Request for a copy of all the documents that you submit with the bank. Even save copies of your email exchanges with the bank representative.
Equated Monthly Instalment : As mentioned before, instead of getting lured by the offer of freebies in the form of car accessories, negotiate for a lower EMI on your car loan. In any case, study the offer in totality. You’ll find Creditfina’s Car Loan EMI Calculator very handy in comparing deals from various lenders. All you have to do is enter the car value plus the discount (or the value of the promised freebies) minus the down payment. Now input your loan tenure. Last move the interest rate slider till your EMI equals the amount displayed in the EMI dialogue box. This would indicate the interest rate on your loan.
The List of Documents : Expect the bank to take a minimum three to six days to verify your paperwork and disburse the loan, which is a lot less than required for a home loan.