Ask an Expert
Although our portal is chock-full of articles and other write-ups that simplify loans for you, there are bound to be occasions when such content is just not enough. You have a specific, personal issue that can only be solved by specific, personal answers.
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Date : Oct 26, 2008 Question I am earning through share market from past 6 months.Am I elegable for car loan? If yes then do i have to pay more interest rate if Iwant to pay withen 1 year? I have 5Lac for downpayment and I will take loan for 5Lac because I am planing for HONDA CITY (onroad 992000). What would be the good stetergy? Floating or fixed? 1year or 3 year and pay the outstending amount t the end of 1st year? And which bank ? Answer You can get a car loan based on your income and repayment track record. You will have to show documented proof of income to apply for a car loan. The lower the tenure the higher will be the EMI and vice versa. Also if you take a car loan for 3 years and decide to pay it in 1 year, you will have to pay a prepayment penalty for prepaying the loan. You can apply for a car loan on www.apnaloan.com where multiple banks compete for your loan. |
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