Car Loan for Innova 2008

[btirthankar]

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:

[jkdas]

8% or so for Innova. There is some kind of deal by Toyota.

[btirthankar]

Originally Posted by jkdas

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?

[jkdas]

Originally Posted by btirthankar

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.

[btirthankar]

Originally Posted by jkdas

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.

[jkdas]

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.

[btirthankar]

Originally Posted by jkdas

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.

Originally Posted by btirthankar

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