Car Finance and Loans

Today, the prospective buyers of the automobile industry are thrown with a plethora of different car models differently priced according to its hi-tech features and technologically upgraded configurations. Whereas for some it easier to write a check at the counter itself, many feel the need for car loans or other financing schemes to assist in buying the product. Aggressive marketing, packaging, easy eligibility, fast application processes have contributed in making car finance a preferred option to self funds. The current sluggish market conditions, coupled with low interest rates, have made the car finance market extremely competitive. All the three components, i.e. finance companies, dealers and manufacturers are at the bargaining end to woo buyers through "special offers", discounts, "0% finance", low interest rates, etc. While Bank loans are in tenured for 12, 24, 36, 48 or 60 Months, the prevailing Interest rate is around 17%.

• Kinds of Car Finances:
• Bank Loans offered with following schemes:
• Margin Money Scheme;
• Advance Equated Monthly Installment Scheme;
• Security Deposit Scheme;
• Hire Purchase Scheme;
• Lease Financing Purchase.
• Non-Banking Finance Companies (NBFCs) offering