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adityapd · 5th October 2005, 17:02

Hi,

Has anyone of you enquired about the loan rates in the used car market offlate ?

I have been making a few enquiries recently and have been getting offers of 7.5 to 8 % flat from the dealers for a 5 yr period for a loan of 2 to 3 L. However when the emi calculation is done the actual rate works out to in the range of 15 to 16 %. ICICI bank is quoting a rate of 13% ( negotiable) for a 5 yr loan of 2.5 L on a reducing basis.

Anyone else looking for such loans / having good offers, can probably put out your experience on this thread for collective sharing and benefit of all.

~A

5th October 2005, 17:02	#1 (permalink)
adityapd BHPian Join Date: Feb 2004 Location: Mumbai, Philadelphia Posts: 274	Used car loan rates Hi, Has anyone of you enquired about the loan rates in the used car market offlate ? I have been making a few enquiries recently and have been getting offers of 7.5 to 8 % flat from the dealers for a 5 yr period for a loan of 2 to 3 L. However when the emi calculation is done the actual rate works out to in the range of 15 to 16 %. ICICI bank is quoting a rate of 13% ( negotiable) for a 5 yr loan of 2.5 L on a reducing basis. Anyone else looking for such loans / having good offers, can probably put out your experience on this thread for collective sharing and benefit of all. ~A