[harry10]

Originally Posted by JustStarted

Hi,

i am total newbie to car and car loans. HDFC has quoted me EMI 6885 @14.5% for 36 months for sum of 2 Lac.

means total i pay around 2.48 Lac in 3 year.

now if i put this amount in Fixed Deposit at 10%

after 3 yrs i get around 2.68 Lac.

means its profitable to take loan.

but in this case where butter and bread for banks ? i know i am missing something here.

can someone please point it out ?

Thanks

Mate 14.5% is quiet high.
Try PSU banks like SBI, PNB etc. they ar giving loans around 12-12.5% .