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Old 5th January 2006, 22:28   #31
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Hey guys , this guy is giving me a HDFC loan on 5.3 lacs and the emis are 50k*8(for the first 8 mths) then ~10 k *8 then for the last 8 mths the emi is ~7. Well the emi values are approx but the interest for 2 yrs for a loan of 5.3 lacs is coming to around 8K . Do u think that there is any hidden costs in it.
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Old 10th March 2006, 23:19   #32
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Default Whats goin on in Auto Loans ??

Hey guys , i am new to this forum and need your help ...

I am interested in buying Skoda Octavia and i ve been looking for a good finance deal since last 15 days or so ...

Couple of weeks ago i enquired from all the DSAs and DSTs about the rate of interest on Skoda and most of them were ready to finance the car for 6% reducing(discount merged) and i told them that i would be going to take the car by the march end ..

Now when i ask one of the DSTs to take the documents and get my loan approved ,he instantly replies that he cant get the loan approved at the same rate of interest ,he said the bank has increased the rate and he wont be able to give me less than 8.5%(discount merged) , and all the DSAs and DSTs are quoting more or less the same ..

I am Shocked ,how can the rate of interest can climb all of a sudden and that too nearly 3% in just 15 days ..

can someone please throw some light ???

Thanx .

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Last edited by Rudra Sen : 11th March 2006 at 06:55.
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Old 11th March 2006, 01:22   #33
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hi,, just to correct you there bro,, sevice tax is applicable only on the payout or commission given to you by the dsa and not on the emi.

Originally Posted by shuvc
Am not saying that agents don't do this ..
But sometimes, the EMI that is quoted also includes the service tax which is over and above the rate of interest that is being charged. Hence the EMI's may seem a bit more.
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Old 11th March 2006, 12:08   #34
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Yup... the last three weeks itself the rack rate seems to have gone up by .5 % points EVERY WEEK - Currently running at 8.5.

But guess thsi is across the loans spectrum.. housing loan rates have also gone up... Correction??
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Old 19th March 2006, 02:48   #35
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i gt a car financed just paid 7% down payment the emi is 6700 for 4 yrs on a loan of 2.50 lakhs the intrest is arnd 7.5% flat..... did anyone knew ?? tht 2% ofthe total amnt financed is to b financers amnt u can also avail the discount its arnd 4000 rs on 1 lakh .per yr
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