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Old 5th March 2008, 19:37   #1
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Default Car Loan for Innova 2008

I am planning to buy an Innova this year and was wondering what is the prevailing ROI. I am getting quotes from UTI, HDFC (2), Reliance (2), ICICI

  • ROI (was quoted 13.5 %)
  • Tenure 60 Months
  • One Advance (which date is cut off.. is it disbursement between the 20th and 5th that 1 emi advance is nullified?)
  • Is 4% subvention from financier added to disbursement amount?
  • Does the dealer adds that to dealer discount and calls it his own discount?
  • I am being offered 30K cash discount on a 2008 Innova... so he said Insurance can be free. Is it enf?

Please comment whether the above is realistic. That is Hyderabad Prices.

Below is a calculation:
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Last edited by btirthankar : 5th March 2008 at 19:38.
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Old 5th March 2008, 19:40   #2
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8% or so for Innova. There is some kind of deal by Toyota.
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Old 5th March 2008, 19:41   #3
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Quote:
Originally Posted by jkdas View Post
8% or so for Innova. There is some kind of deal by Toyota.
Did you mean 8% is dealer discount applicable on the EX Showroom Price?
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Old 5th March 2008, 19:58   #4
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Quote:
Originally Posted by btirthankar View Post
Did you mean 8% is dealer discount applicable on the EX Showroom Price?
Interest rate is 8%.

My co-bro is paying 21XXX for 3 years for 7lac. Interest comes to 65K or so.
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Old 5th March 2008, 20:06   #5
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Quote:
Originally Posted by jkdas View Post
Interest rate is 8%.

My co-bro is paying 21XXX for 3 years for 7lac. Interest comes to 65K or so.
I dont believe it..?? How can he be charged so less...considering current RBI PLR ? I am sure this may be the effective ROI or maybe Flat ROI p.a.
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Old 5th March 2008, 20:13   #6
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I think it works that way coz Toyota still has the 75k offer or maybe a percentage of the amount when you take loan and your interest comes down.

I was quoted 11.5% for Safari and 8% for Innova last day.
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Old 6th March 2008, 22:46   #7
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Quote:
Originally Posted by jkdas View Post
I think it works that way coz Toyota still has the 75k offer or maybe a percentage of the amount when you take loan and your interest comes down.

I was quoted 11.5% for Safari and 8% for Innova last day.
Quote:
Originally Posted by btirthankar View Post
That was a great trick:

Here is the quote comparison attached. As far as SBI is concerned, if I avail, then my DP will increase and I may not even get 90% funding as I dont have proper income docs and resi-proof. In any case they are charging 11.5% on daily reducing which may effectively come to say 9%.

As for freebies, apart from their committed --- mudflaps, mat, muffler cutter, I have asked for center console (costs 9K) and sunglass holder (costs 1K)

what d'ya say guys?
Above is the Comparison
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