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How To Get The Bes...

December 16, 2014 14:23

The number of car owners in India has gone up considerably in the last few years. Car loans system has made the process of car purchase easier for price sensitive Indian buyers. Car finance in India provides many options. A few tips on how to get best car finance deals are mentioned below:

Shop the loan separately for the car: To obtain best car loan in India, negotiate the car price and begin applying for loans with banks much before. Online banks are an option, but these are not personal and can be a little risky too. Small banks are also competitive and provide more chances of clearing the loan. Walking in with a loan will give better bargaining power and increased chances of negotiation. It will also help you get freedom from mixing up of financial costs and car cost.

Get familiar with your own credit history: To obtain best car finance in India, you should have a good idea about your credits already obtained. This will help you ensure how much amount you can get from the banks.

Shop complete amount: You can opt for the complete amount rather than the monthly payment. Until you want to reconsider your shopping ideas, going for a complete amount will give many advantages. Some lenders may focus on the monthly payment to make you borrow more money.

Look for the best: Lenders who offer you the best pay should be your first choice. But this pay need not necessarily come as per your expectations. It might be slightly high but not too much. Also, luxury car makers usually do not give space for credit options. So be careful while choosing the car you want.

Credit card: Purchase during a 0% interest can be beneficial. Personal loans are also applicable in this case. If they are available, make them your choice. Having money ready during the purchase will increase the chances of getting better offers.

Your dealer can be your best guide to get loans that are affordable and reasonable at the same time. Best car loan can thus become accessible and available as the dealers may have regular tie-ups with certain banks too at times. Make sure you keep your payments on time to avoid any unnecessary consequences. This will also enhance support during your next purchase.

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