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Old 26th April 2007, 15:39   #1
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Question Personal Loan for Pimping car ??

A friend of mine is thinking of taking a 1lac - 1.5lac personal loan to pimp his car. Now i need to know is this good thing ? Secondly which bank has good personal loan interest rates and which bank will be feasible for such loan.
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Old 26th April 2007, 16:06   #2
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A friend of mine is thinking of taking a 1lac - 1.5lac personal loan to pimp his car. Now i need to know is this good thing ? Secondly which bank has good personal loan interest rates and which bank will be feasible for such loan.
but u should wear a tshirt saying when with your friend ... that iis insane if you dont have the money dont use it ... that to to mod a car ....................... lol sorry all i can do is laught coz this is one of teh craziest thing i have heard ....
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Old 26th April 2007, 16:08   #3
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Excuse my ignorance. What do you mean by pimping the car ?
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Old 26th April 2007, 16:11   #4
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Haven't heard for cars but banks offer 'Home Improvement Loan' to spruce up your home. May be some new age bank offer one for car also.
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Old 26th April 2007, 16:37   #5
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If someone wants to take out a loan, so be it. After all, he is the one who has to repay it. So let us not go too much OT.

AFAIK, all personal loans bear huge interest & unless your friend is capable of repaying such a large amount with a large interest, try to dissuade him.
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Old 26th April 2007, 17:54   #6
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Excuse my ignorance. What do you mean by pimping the car ?

Pimp my ride is a popular tv show on Mtv and that is where the term pimping the car came from(i guess). It was coined (i guess) by the Hip Hop Generation


Sam Your explanation of Pimping is way better than mine

Last edited by sreedotk : 26th April 2007 at 17:56.
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Old 26th April 2007, 18:03   #7
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Originally Posted by abhibh View Post
A friend of mine is thinking of taking a 1lac - 1.5lac personal loan to pimp his car. Now i need to know is this good thing ? Secondly which bank has good personal loan interest rates and which bank will be feasible for such loan.
hey abhibh, please ask your friend not to do that. the interests are varying from 19-24% Per anum, with 2% processing fee .

When the % itself is not feasible how could the bank be feasible.
There is an Idea for you friend to approach a Local bank like co-operative banks near the vicinity, they have low interest rates.

note: long procedures and paper work can manage good two to three weeks for sanction. by then your friend will drop the idea i guess.

@ sam : thats hilarious i would want you to continue on that post LOLS

Last edited by SohailPistawala : 26th April 2007 at 18:06.
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Old 26th April 2007, 18:30   #8
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I think he clearly stated that he is going for a personal loan & wants to know which one would be cheapest
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Old 26th April 2007, 21:25   #9
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lol you people know why i asked this here ? I asked because i wanted him to read this LMAO. I told him the same thing. Personal loan for modifying a car lol...

@Sam nice joke lol
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Old 26th April 2007, 21:59   #10
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Quote:
Originally Posted by whatcanthisbe View Post
sorry all i can do is laught coz this is one of teh craziest thing i have heard ....

You'd be surprised at how many serious tuners use this method.
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Old 26th April 2007, 22:11   #11
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It's not a very bad IDea as long as he makes about at least Rs 40000 per month in hand ( I might be wrong )

SAM: That call had me rolling! time for part 2 ?
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Old 26th April 2007, 23:32   #12
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Ok just sent the Sam joke as SMS to him and talked to him and some how convinced him not to do this lol (i still don't think he is that much convinced). Will show him this post ASAP maybe this will effect him more.

@Samji we are waiting for the next season episode of the JOKE with more GARAM MASALA.
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Old 26th April 2007, 23:37   #13
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ya its a strick no no if you don't have money why do you want to pimp your ride

go step by step

and samji waiting for your joke
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Old 27th April 2007, 01:51   #14
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On a lighter note,why don't you guys appreciate his enthusiasm to spend so much on pimping his ride ?
Come on guys am sure most of us spend a fortune on our cars and maybe this is the way he wants to raise capital for the official pimping of his ride.

blueraven , @40k every month privatized banks provide you @least 2/3 times that amount and con you in every possible way .

abhibh please ask you buddy not to do such a thing. There are better ways of investing that money or rather choose on a better alternative for pimping his ride.
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Old 27th April 2007, 11:25   #15
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OMG please please dissuade your friend from doing so, and if he is hellbent ( it is his money after all) then please dissuade him from going to ICICI, UTI etc , heard so many bad things about them . I personally went to SBI for my car loan , they processed it in 3 days flat ( even my dealer was flabbergasted at their prompt service ) !! Dunnow about SBI Personal loan though but they are better off than the rogues out there !!
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