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Before proceeding, it is important for us to know what is a car loan. As the name suggests. When a loan is taken to buy a car. So it is called car loan. You can take a loan for both new and used car types. But taking a loan for a new car is a bit easier and cheaper. Whereas taking a loan for a used car is a bit difficult and expensive
You do not get any kind of loan for car registration, insurance and taxes etc. Along with this, your car loan is also determined on the basis of your ability to repay the loan. And your monthly income and other types of loans also affect your ability to take a car loan.
dination. You can apply for a loan from the car dealer itself. But you can get a costly loan from thNowadays almost all banks offer car loans. The major banks are State Bank of India, ICICI Bank, HDFC Bank. Along with this, many NBFCs (Non-Banking Finance Companies) also provide car loans. Most of the car dealers and finance companies are in close coore dealer. But you’ll take your level from outside. So you will definitely get some extra benefits.
This question often comes to mind while thinking of car loan. How long can you get a loan for your car? Talking about the tenure of the car loan, you can get a loan for the car for 3 to 5 years. Some banks also provide loans up to 7 years. The shorter the tenure you take the loan or the higher will be the EMI amount. And the interest rate will be lower. Also, the longer the tenure you take the loan, the lower will be the EMI. But the interest rate will be slightly higher.
Many times such a situation arises. That we also have to sell our valuable things. This question is also arising in your mind. Whether you can sell your car before paying off the car loan. So here we tell you. That you cannot sell your car before paying off the car loan. You can sell your car only after paying off the car loan. In the name of car bank while taking car loan
Often this question also arises in our mind. Whether we get any kind of exemption in tax by paying car loan or not. Talking about car loan, you do not get the benefit of any kind of tax benefit on paying the car loan.
In the present time when a person has his own house. Then he has another wish. that he has his own car. In today’s time, car has become not only a hobby but also a necessity. You want to fulfill your dream of buying a car. But due to paucity of money they are not able to complete it. So you don’t need to worry much. You have the option of taking a car loan. If you want, you can fulfill your wish by taking a loan for a car.
TiWhen it comes to taking a loan. So strange strange questions arise in the minds of people. How will he get the loan? How much effort will he have to take to get the loan? Today we are going to tell you through this article. How can you take a car loan? Where to get car loan? What is the interest rate on car loan? Also, for how long can you take a car loan? Can you take a car loan for a used car loan? You will get answers to all other questions through this article