Dear Sir, I want to buy a maruti alto k10/ - 11656

Dear Sir, I want to buy a maruti alto k10/Hyundai santro zing with in a month.I am working as Manager(HR)in one of the US based MNC company in Sonepat having salary Rs.50000/-pm and I joined this company in March,2010 and staying in rented house in Sonepat having more than 10 years of experience . Can any bank/finance institutions give me car loan. An early response in this regard is highly be appreciated. Thanking you, SANJAY SHAHI MANAGER(HR) DANBLOCK BRAKES INDIA LTD

By Sanjay 09 September 2010

Answers:

FINANCIAL COMPANY GIVING LOAN ON VEHICLE , NOT A PERSON..IF U R GIVING 35 PERCENT MARGIN MONEY THAN NO NEED TO GIVE MORE DOCUMENTS ONLY CLEAR BANK STATEMENT AND CHEQUES R ENOUGH ..
BUT THINKING POINT IS ONLY
1>> WE NEED THE CAR IN LOAN
2>> CAN WE PAY EMI WITHOUT SINGLE MONTH FAILURE .
3>> IN CASE FAILURE OF 2 EMI FIANCIER WILL REPO THE VEHICLE AND NOTHING AMOUNT WILL GIVE RETURN
4>> THINK TWICE BEFORE SIGN WITH CARE FULL READING OF AGREEMENT..
OR GO FOR CASH PURCHASE 2 YEAR OLD CAR IN UR BUDGET ..
(( IT IS SUGGESTION ONLY / LAST DECISION IS URS ))

Answer by GAUTAM JAIN CHENNAI 09 September 2010

Expert`s comment:

Hi,
If you have salary certificate of minum of six months in present company, that should be good enough for getting loans.

Answer by Shiva Shankar 10 October 2010

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