Team-BHP - View Single Post - Car Loan From Kotak for SX-4 ZXI through CSD

AshokSawhney · 15th August 2007, 22:46

I am purchasing the SX-4 ZXI from the Canteen Stores Department through Auto Wheels, B-4 Vishal Chambers, oppo McDonald's, Sec 18, Noida, Tel.4312729. The car price through CSD is Rs.6,26,843 out of which I am paying Rs.1,76,843 up front and taking a loan of Rs.4,50,000, which Auto Wheels is arranging with Kotak Car Finance. The 3 year loan will be paid back with an EMI of Rs.14,760, which amounts to approx 11 per cent rate of interest, fixed.
I am being charged a processing fee of Rs.2575, and the car would be ordered through the CSD depot Jalandher and the dealer would be Sandhu Automobiles, Ludhiana. The lead time is approx one month plus. I have ordered Azure Grey colour. I have not been given any rebate or anything. I did check the interest rates for car loans with SBI but found them slightly higher.
In addition I would need to pay Rs.20,842 for Maruti Insurance to the dealer and Rs.18,371 for Noida Regn, Road tax etc. which Auto Wheels will get done.
Any views please from your experience whether it is an OK deal for the car loan, Maruti Insurance etc ? Thanks.

15th August 2007, 22:46	#1 (permalink)
AshokSawhney Newbie Join Date: Sep 2006 Location: NOIDA Posts: 18	Car Loan From Kotak for SX-4 ZXI through CSD I am purchasing the SX-4 ZXI from the Canteen Stores Department through Auto Wheels, B-4 Vishal Chambers, oppo McDonald's, Sec 18, Noida, Tel.4312729. The car price through CSD is Rs.6,26,843 out of which I am paying Rs.1,76,843 up front and taking a loan of Rs.4,50,000, which Auto Wheels is arranging with Kotak Car Finance. The 3 year loan will be paid back with an EMI of Rs.14,760, which amounts to approx 11 per cent rate of interest, fixed. I am being charged a processing fee of Rs.2575, and the car would be ordered through the CSD depot Jalandher and the dealer would be Sandhu Automobiles, Ludhiana. The lead time is approx one month plus. I have ordered Azure Grey colour. I have not been given any rebate or anything. I did check the interest rates for car loans with SBI but found them slightly higher. In addition I would need to pay Rs.20,842 for Maruti Insurance to the dealer and Rs.18,371 for Noida Regn, Road tax etc. which Auto Wheels will get done. Any views please from your experience whether it is an OK deal for the car loan, Maruti Insurance etc ? Thanks.