UTI Bank has entered the Car Loan market and is quite aggressive. I have an offer from them for 11.77% interest rate for a 5 year loan for Maruti Swift VDi.
The thumb rule - everything is bargainable and one should evaluate 2-3 offers before deciding.
My piece of advise - Dont fall for the discount & finance payouts stuff - Just get the following details clear in every offer that you get:
(a) Down Payment : This is your immediate cash flow. So be very clear how much you can afford to give away!
(b) EMI - This is more important than interest rates (since these can be manipulated in all sorts of ways). The EMI amount is what will go from your pocket every month. |