Kotak Auto Loan

thefreak · 26th October 2007, 17:35

Hi Guys,

Just bought off a car and used the Kotak financing machine.

Review of the same is: Bad! I expected them to be more professional.

They asked for a set of documents which were provided on time and then they just keep on coming back and asking for more papers. To top it all off their representative called up my father (as a part of the verification process) and talked rudely. Called up the manager here and blasted him off.

givemered · 26th October 2007, 18:58

hi freak,
i'm also planning for a car and in touch with kotak guys only.
they are giving me contradicting figures.
they say interest rate is 8.19% but the EMI amount they quote is with 14.45%.

thnx for posting ur experience here.
i think i will have to be careful with this guys.

Firebird · 26th October 2007, 19:09

Why did you go ahead with the deal then. You should not

On the day they would have created the cheque for you...should have told them at desk...thanks for your services and without accepting should have walked off.

There are many in market hungry for business.

gopz · 27th October 2007, 07:30

Kotak customer support is the worst. Stay away is my advice!!!

madan80 · 27th October 2007, 07:39

i have heard some horror stories about the same. My friends late father took a loan before he passed, now the kotak guys are saying that there is no clause for foreclosure and that his mother has to pay.

26th October 2007, 17:35	#1
thefreak BHPian Join Date: Aug 2007 Location: New Delhi Posts: 362 Thanked: 7 Times	Kotak Auto Loan Hi Guys, Just bought off a car and used the Kotak financing machine. Review of the same is: Bad! I expected them to be more professional. They asked for a set of documents which were provided on time and then they just keep on coming back and asking for more papers. To top it all off their representative called up my father (as a part of the verification process) and talked rudely. Called up the manager here and blasted him off.
	() Thanks

26th October 2007, 18:58	#2
givemered Newbie Join Date: Oct 2007 Location: chennai Posts: 9 Thanked: 0 Times	hi freak, i'm also planning for a car and in touch with kotak guys only. they are giving me contradicting figures. they say interest rate is 8.19% but the EMI amount they quote is with 14.45%. thnx for posting ur experience here. i think i will have to be careful with this guys.
	() Thanks

26th October 2007, 19:09	#3
Firebird BHPian Join Date: Jul 2005 Location: Mumbai / EC1M 3NH Posts: 470 Thanked: 65 Times View My Garage	Why did you go ahead with the deal then. You should not On the day they would have created the cheque for you...should have told them at desk...thanks for your services and without accepting should have walked off. There are many in market hungry for business.
	() Thanks

27th October 2007, 07:30	#4
gopz BHPian Join Date: Apr 2007 Location: India Posts: 452 Thanked: 6 Times View My Garage	Kotak customer support is the worst. Stay away is my advice!!!
	() Thanks

27th October 2007, 07:39	#5
madan80 Senior - BHPian Join Date: Jan 2006 Location: Santa Clara, CA Posts: 1,360 Thanked: 80 Times View My Garage	i have heard some horror stories about the same. My friends late father took a loan before he passed, now the kotak guys are saying that there is no clause for foreclosure and that his mother has to pay.
	() Thanks