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Author: admin | Category: Calculatrice Pret Auto | Date: 07.06.2015

Apart from Personal loan, Home loan, & Educational loan, HDFC bank offers Auto loan with which you can buy your dream car.
This entry was posted in Banking, HDFC Bank and tagged HDFC, HDFC Bank Auto Loan on April 30, 2011 by Alex. In today’s world people are searching for luxury and comfort in every aspect of life and this desire is limited to not only people who belong to upper strata of society but to also the middle strata.
HDFC is one of the most biggest and prestigious bank of India and they have very flexible, convenient and worthy home loans for their customers. There are various schemes like accelerated scheme as well as others to help you pay less amount of interest. If you are looking for getting HDFC car loan online and feeling confused, just provide a few details and we will provide you with a car loan quote absolutely free!! If you are a new user, please fill in your contact details for a free personalized loan quote. The most common mode of car-purchase financing is mentioned in Point No.2 - partly through own fund and partly through loan. After you take a car loan, a cheque for the loaned amount is drawn in favor of the dealer of the car and is issued to the dealer by the finance company on behalf of the borrower.
Amount of car loans sanctioned by financing companies are usually to the tune of 85% to 90% of the ex-sales room price of the cars. Interest rate - The interest rate charged for the car loan in India varies from time to time and bank to bank particularly during the period of change of rate of interest. Car loan EMI is the most important part in loan repayment process and assessing the liabilities in car purchase by taking a car loan. Car loan EMI is usually calculated on the basis of what is known as monthly reducing rate and this is what is advantageous to the borrower. Service and handling or processing charge - It is a one-time fee charged by the financing companies of both types.

Loan repayment capability - It is another point to evaluate before deciding about the amount of car loan. Time limit for repayment of loan through Equated Monthly Installments (EMI) - It is usually either 36 months or 60 months.
Documents needed for car loan are identity proof, address proof and proof of the loan repayment capability of the borrower - generally the proof of income. Before you zero in on the car loan deal read the agreement deed properly - Agreement deal is the agreement between finance company and the borrower. The payment of EMI is done through number of post dated cheques - issued in the name of the financer - signed by the borrower. In certain cases, if agreed to by the financer, the borrower instead of issuing post-dated cheque pays EMIs through a standing instruction to his bank.
It is always advisable take certain precautions against possibility of arising unforeseen reason or act resulting in non-payment of EMI.
These desires are being fulfilled by various financial institution and banks which provides loans for different reasons under different criteria. They have changed the way people think about home loans as they have made the complete criteria a bit different from rest of the bank. They have different kinds of heads built up under home loan column to fulfil the requirement for all kinds of customer with different demands as well as pocket size. Thus, we can say that HDFC bank loan can be of much benefit if applied for, but still it’s always advisable you do your own homework and research before going ahead and signing for one so that you know which loans to choose from and which one to apply for. Remaining 15% to 10% is to be paid by borrower of the loan who is also the purchaser of the car.
Interest rate charged by banking and non-banking financial companies for the car loan could be different. EMI multiplied by the loan prepayment period in months is the liabilities generated through a loan and that is what directly affects the borrower.

But certain financing companies adopt half yearly or even yearly reducing rate in calculating EMI on car loan - which is disadvantageous to the borrower. Post-dated cheques if bounced due to insufficient funds in the bank account of the borrower can be a case that financer can use against the borrower as issue of cheque without sufficient fund is an offence. The auto loan includes unique plans like Fast track car loan plan, Advantage platinum Credit Card Plan, No Income-Document Loan Plan, 100% Loan Plan with Fixed Deposit Lien, NRI Loans, Past re-payment history, and Approval Plan.
Even though the conventional system and criteria needs to be fulfilled but still HDFC bank loan has much more to offer to their customers.
It is absolutely a personal matter to decide about expected increase in monthly income and short term curtailment of nonessential expenditure, monthly savings if essential.
The change in people’s life is seen with this growth and so has the demands for loans increased and one of the most applied for loans in today’s date are home loans. It’s not only loans and the low rate of interest but also the kind of service they provide, for which they are known best in the market.
These loans can save you money by showing the certificates during the payment of income tax. This is withdrawn after completion of the repayment of the loan through a letter issued by the financer.
You will find many online car loan quote comparison tools that will let you compare car loan quotes (new as well as used car loan quotes) from major financing companies and banks.

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