Re: Finance companies cannot forcibly take possession of loan-default vehicles Quote:
Originally Posted by scopriobharath bblost,
Any special reason why you took a personal loan for a car ? Interest rates are 16-25% for personal loan but only 13% at the max for used car loan.
Was it "hypothecation" or something else that made you go for a personal loan ? |
As I work in a large MNC, banks give very good rates for personal loans.
When I purchased the car and also the bike the roi was very competitive and absolutely no hassles.
The bike cost me 82k.
I took a personal loan for 80k.
3 years duration. I needed a Bike, dad had said clearly if you are buying a bike then get a RE or don't buy it.
The car loan again was just 2.25 lakhs. 3 years duration.
The bike was bought with just my heart and soul in it. The car when I was married and hence a lot of thought went into it. |