Quote:
Originally Posted by BurningHeart  Pre-payment charges are important IMO because for most people, they will want to buy a bigger car when situations permit (read: a bigger bonus couple of years from now). |
He mentioned about a home loan.. it makes more sense to pre-pay that then car loan since home loan will usually be for a longer term and higher value loan (so, IMHO savings from interest will be higher if interest component is higher then 1.5 L per year)
I am in the same boat
(Running home and car loan EMIs at the same time)