Go Back   Team-BHP > BHP India > The Indian Car Scene


Reply
 
Thread Tools Search this Thread
Old 10th July 2007, 14:01   #31
Senior - BHPian
 
esteem_lover's Avatar
 
Join Date: Jul 2006
Location: Madras/Py
Posts: 7,554
Thanked: 445 Times
Default

Quote:
Originally Posted by moralfibre View Post
I can say you are wrong here John. My friends Palio 1.6 Sport bought at about the same time as mine was funded for an On-Road price of around Rs. 5,30,000/- (Principal @ 90% of on-road price comes to Rs. 4,77,000) for 7 years at 9.75% interest (IIRC) and he is paying an EMI of Rs. 7,857/- for 7 years.

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.
esteem_lover is offline   Reply With Quote
Old 10th July 2007, 14:03   #32
Team-BHP Support
 
moralfibre's Avatar
 
Join Date: Dec 2004
Location: MH-12
Posts: 6,622
Thanked: 6,144 Times
Default

Quote:
Originally Posted by esteem_lover View Post
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.
October 2006 is not that time I suppose EL? He got this in October 2006.
moralfibre is offline   Reply With Quote
Old 10th July 2007, 14:11   #33
Senior - BHPian
 
esteem_lover's Avatar
 
Join Date: Jul 2006
Location: Madras/Py
Posts: 7,554
Thanked: 445 Times
Default

Quote:
Originally Posted by moralfibre View Post
October 2006 is not that time I suppose EL? He got this in October 2006.
Ok then, i take back my words. SBI , was it ?
esteem_lover is offline   Reply With Quote
Old 10th July 2007, 14:17   #34
Team-BHP Support
 
moralfibre's Avatar
 
Join Date: Dec 2004
Location: MH-12
Posts: 6,622
Thanked: 6,144 Times
Default

Quote:
Originally Posted by esteem_lover View Post
Ok then, i take back my words. SBI , was it ?
Yes this is SBI bank .
moralfibre is offline   Reply With Quote
Old 10th July 2007, 18:17   #35
BHPian
 
huntrz's Avatar
 
Join Date: Feb 2007
Location: Hyderabad
Posts: 66
Thanked: 18 Times
Default

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..
huntrz is offline   Reply With Quote
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search


Similar Threads
Thread Thread Starter Forum Replies Last Post
Are Indian brands considered cheap & downmarket? raj_5004 The Indian Car Scene 64 22nd July 2010 23:14
Honda/Toyota cars considered very boring by 2nd Gen NRI kids? pgsagar The International Automotive Scene 23 6th February 2010 21:11
Can a 1969 Series 11a SWB Landrover be considered a classic with diesel conversion? eyedoc Post-War 13 13th October 2009 09:06
Can a 1995 car be considered brand new 4 import? _Crazi4Speed_ The Indian Car Scene 0 28th September 2004 13:43


All times are GMT +5.5. The time now is 20:12.

Copyright 2000 - 2017, Team-BHP.com
Proudly powered by E2E Networks