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Car Loan for Innova 2008
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https://www.team-bhp.com/forum/indian-car-loans-insurance/36496-car-loan-innova-2008-a.html)
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:
8% or so for Innova. There is some kind of deal by Toyota.
Quote:
Originally Posted by jkdas
(Post 747317)
8% or so for Innova. There is some kind of deal by Toyota.
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Did you mean 8% is dealer discount applicable on the EX Showroom Price?
Quote:
Originally Posted by btirthankar
(Post 747320)
Did you mean 8% is dealer discount applicable on the EX Showroom Price?
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Interest rate is 8%.
My co-bro is paying 21XXX for 3 years for 7lac. Interest comes to 65K or so.
Quote:
Originally Posted by jkdas
(Post 747339)
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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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.
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 jkdas
(Post 747356)
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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Quote:
Originally Posted by btirthankar
(Post 748841)
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?
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Above is the Comparison
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