Which bank offer car loan is best?

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Compare Best Car Loan Interest Rates in India for 2021

Bank Name Car Loan Interest Rates Processing Fee
Federal Bank Car Loan 8.50% p.a. onwards Contact the bank
SBI Car Loan 7.20% p.a. onwards New Car: Nil (offer valid until 31 January 2022)
ICICI Bank Car Loan 7.90% p.a. onwards 0.5% of the loan amount

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One may also ask, are car prices going down?

New car sales are 44.7 percent down compared to the 10-year average, which was the weakest September since 1998, a year before the two-plate system was introduced.

Subsequently, how much should I put as a downpayment on a car? When it comes to a down payment on a new car, you should try to cover at least 20% of the purchase price. For a used car, a 10% down payment might do. Part of your decision will depend on where your credit score stands.

People also ask, is CarsDirect a good company?

Taking into consideration factors such as loan details, eligibility requirements, the application process, and customer reviews, we rate CarsDirect with 3.5 out of 5.0 stars overall. It can be a good resource for finding a bad credit car loan, but there are also better options out there.

Is it a bad idea to finance a car?

Financing a Car May be a Bad Idea. All cars depreciate. … When you finance a car or truck, it is guaranteed that you will owe more than the car is worth the second you drive off the lot. If you ever have to sell the car or get in a wreck, you owe more than what you can get for it.

2 Related Question Answers Found

What credit score do you need for 0 financing?

Zero percent financing deals are generally reserved for borrowers with excellent credit — typically classified as a credit score of 800 and above. You’ll want to review your credit reports on your own before you start shopping for auto financing.

Which has the best deals on car loans?

Compare the Best Auto Loan Rates

Lender Lowest Rate Terms
PenFed Credit Union Best Overall 0.99% 36 to 84 months
LightStream Best Online Auto Loan 2.49% 24 to 84 months
Bank of America Best Bank for Auto Loans 2.14% 12 to 75 months
Consumers Credit Union Best Credit Union for Auto Loans 2.24% 0 to 84 months

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