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Car Finance Loan |
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Auto Loans » Car Finance Loan |
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Carloanshub.com offers you great opportunities to avail of the best Car Finance Loans from leading banks like HDFC, SBI, ICICI and many others. There has been a surge in the aggressive marketing strategies of the lending institutions who are offering you the lowest interest rates, repayment options ranging between 12 to 84 months and instant processing of the loan applications! |
Most of the Banks and Financial Institutions finance up to 90% of the cost of the car depending on factors like:
Model of the Car: Almost all models of Multi-Utility Vehicles (MUV’s), Sports Utility Vehicles (SUV’s) qualify for auto finance.
Age of the vehicle: Used Car Loans are generally not awarded to cars more than five years old. However, New Car Loans with great packages are available.
Credit History of the Borrower: Having a good Credit History will also enable you to avail of the Loans with the lowest interest rates. But those with a poor Credit History can take advantage of the Bad Credit Car Loans.
The most popular Loan schemes are:
Margin Money Scheme: In this scheme you just have to pay a margin money of at least 10% and one EMI (Equated Monthly Installments) and pay the residual EMI’s by post-dated cheques. The most useful aspect of this scheme is the low value of EMI that you have to incur.
Advance Equated Monthly Installment Scheme: In this scheme although you get up to 100% of finance but you have to dish out five to nine EMI’s(Equated Monthly Installments) up front. You can pay the residual EMI’s by post dated cheques but that is of a higher amount as interest is charged on the entire amount of loan.
Security Deposit Scheme: In this scheme a security deposit has to be forwarded which is
refundable after the amount of the loan period. This deposit also earns a simple or compound
interest but this is much lower than what you will be charged on the loan. The EMI’s charged
are also higher than the above two schemes.
Make sure that you check whether any Solvency Certificates or Income Proofs are mandatory. Also, gather pre-information about the Loan Processing Charges, Cheque Bouncing Charges etc. It’s always a good idea to learn about the terms and conditions about the different lending institutions when you shop around for the best deals. You can save thousands of your hard-earned money this way!!
Follow the links below to the best of deals from the leading banks:
HDFC Bank Car Loans
ICICI Car Loans
SBI Car Loans
Citibank Car loans
You can fill out the online applications at all these above links and apply for the loans the fastest and easiest way!
Carloanshub.com will navigate you through all these links and make sure that you have
the best deals possible!!
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