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|10th July 2007, 14:01||#31|
Senior - BHPian
Join Date: Jul 2006
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moral, that was sometime ago when fiat made lots of promises about offering good A.S.S etc. I doubt if even the nationalized banks would do the same for the palio right now.
|10th July 2007, 14:03||#32|
Join Date: Dec 2004
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|10th July 2007, 18:17||#35|
Join Date: Feb 2007
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Agreed.. Personal loans have higher interest rates than Auto loans.. but it also depends how you are approaching the bank.. 2 years back when I was buying my bike- ICICI was charging 11% for Personal loans for 3yrs and 12 % for 4-5 yrs.. where as HDFC was offering 1% less for both the tenures(10 and 11 respectively as a corporate offer).. Where as the ICICI auto loan that I finally took was offered at 9.25 %.. I took the auto loan because of faster processing time.. Thus you can see that the difference between HDFC personal loan and ICICI auto loan was mere 0.75%, which according to me is negligible when we take into account the 0.5-1% processing fee on the loan amount and dehypothication fee at the end of the loan.. Not to mention the convenience involved in buying and selling of the vehicle when it is not hypothicated.. Moreover a 10% daily reducing personal loan might actually be cheaper than a 9.5 % monthly reducing one(need to check the exact figures).. Therefore I would again suggest not to believe on the interest rates told by the banks and one should rather check the exact figures of EMI per lakh for the same tenure offered by different banks/loans.. Also Check out if you are eligible for any corporate offer..
SBI loans are more customer friendly with low pre payment fee and some kind of package where the liability ends with the death of the owner(god forbid for such a situation), OTR price financing and no advance EMIs..
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