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Originally Posted by Fountainheader  15.25 % I guess is what SBI offers across all branches.
In the case of the used car, is the loan processed immediately ? So as to the pay the seller the entire amount upfront ? |
They would first evaluate the car and depending on that they would provide the Loan amount. They said it wold be processed faster if all documents of the seller are clear.
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Originally Posted by theMAG The last I read some months back, banks were reluctant to provide loans for new (petrol) Palios, let alone pre-owned. Things might have changed for the better now.
Try going in with nationalized banks over private ones. |
I've been approaching SBI, PNB, Abhudaya...
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Originally Posted by CrAzY dRiVeR Situation is almost the same over this side as well. Banks are reluctant to give loan on Palio cars due to the poor resale value it has. No idea about used Palio though!
2 lakh? Which year/engine are you looking for? |
Year would be around 2004 and above and mostly for a 1.6 Engine or else 1.2 NV Sports
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Originally Posted by bblost Depending on the company you work for the ROI will be lower for a personal loan when compared to a used car loan.
When I bought my car the ROI for personal loan was 11% and for used cars at about 14%.
With a personal loan you don't have to bother about the bank approving your car purchase. |
Now this is something I would like to know. What if I could take up a Personal Loan rather than a Used Car loan? Is this possible?
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Originally Posted by ravikn Rudrah,
IMHO, think twice before going in for a used car loan as at the end of the loan tenure, you will end up paying almost 1.5 times the amount borrowed. why not wait for couple more months? once punto and linea are released the prices of petrol palios will further come down  |
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Originally Posted by pingping Linea will be launched very soon. But few reliable sources (Motor Vikatan - tamil Auto Magazine) say Punto is only for early next year. |
Linea would be almost this Year end while Punto would be almost 1 year from now! The wait wd be too long, dude! And now with the new Petrol prices at Sky high, probably the long wait might help
Maybe I should now think for a Palio with LPG/CNG!
