[priyoban]

Hi,

Heres whats going on.

I booked my car from Nikhil Automobiles in Navi Mumbai and got my loan passed from HDFC bank.

The loan amount that I borrowed was 298000. However the disbursed amount was 285500 the reason being the stamp duty and the 1st emi is cut when the amount is disbursed. (This is what the showroom guy tells me).

Which means that I am borrowing the loan including the 1st emi and the stampduty


However in the down payment, the stamp duty and 1st emi is also being charged from me. So am I not paying it twice (Stamp duty + 1st emi)?

I dont understand why I have to pay the stamp duty and the 1st emi to the showroom when the bank has already deducted that from the loan that I have borrowed.

Please explain this to me, I'm at my wit's end.