Is taking a car loan safe? Car loan at the lowest interest rate in India
by Rokdabazaar .com Loan, Cards, Investments
Car loan at the lowest interest rate in India : A loan is the lending of money by one or more individuals or organizations. A loan which we need it for our needs. A loan like we need it for home, business, personal, and the same as we need it for a car. A car loan means buying a car through a loan by borrowing some money from a bank. You can do an online car loan apply with the help of us. We can give you the best offer and offer you the best deals.
What is the difference between the car loan and car lease?
Car loan at the lowest interest rate in India : A car loan is more popular in the United Kingdom but car purchases are more popular in the USA. What is Car purchases? The most common method is borrowing money and pay it off in installments. The car lease is more popular in every country. A lease is a contract between who owns the car and who is borrowing it and use it according to the lease. Usually, a car lease allows the person to use the car for some mile or for some time like 3 years or maybe 4 years. The person who is using it will pay a fixed amount of money per month to the owner. Leasing a car is more appealing than buying. Paying leasing money is lower because you are not paying back the principal.
What is the eligibility for taking car loans?
For an individual to be eligible for a car loan is that he should be a salaried person or self-employed. The documents required for car loans are:
- Your age should be ranging from 21 to 60 years old.
- Your credit score should be better and your minimum salary must be 15000 per month.
- You should have an employment history of a minimum of 1 year.
Car loan at the lowest interest rate in India: If you apply with us, you can get the lowest interest rate. There are different rates are going on in the bank, like in Axis bank is 8.50%-11.25% fixed for 1 to 7 years, in HDFC bank is same as Axis bank, in ICICI bank a little more interest which is 8.82%-12.75%, Indian bank has 9 %, etc. Every bank has different interest rates but we will provide the lowest and the best rates according to you.
What are the pros and cons of car loans:
Pros: You can get the car without paying the full payment at that moment and paying in cash means no interest charges.
- Buy now, pay later the money.
- Benefit from market competition.
Cons: While car loan is a great way to obtain a car without paying it fully, the amount of interest you pay can amount to a large sum, equal to a big proportion of the car’s actual purchase price.
- You have to pay a lot of money in interest and fees.
- Risk of defaults and damage.
Car loan at the lowest interest rate in India : In a car loan, you are practically renting the car and the ownership still remains to the bank or the lending agency. The car is not technically yours until you have fully paid the car’s amount. Rokda Bazaar is India’s most trusted online loan marketplace. We are here to offer you the best deal and the best offer in taking Loan for purposes like Home, Personal, Education, Business, Car, etc. We are your best option and a one-stop solution. Rokda bazaar will help you to provide the best rates for your brand new car. Come to us and become a satisfied customer.
Created on Sep 24th 2019 04:32. Viewed 903 times.