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Tips to help you choose the right car loan

April 30, 2009

Finance schemes

Check the websites of various banks to compare the finance schemes they are offering. Broadly speaking there are three finance schemes available now in the market:

  • Margin money schemes,
  • Advance EMI schemes, and
  • Deposit payment schemes.

    Alternatively, you can also approach the dealer, from whom you plan to buy your car for finance. Dealers usually recommend banks or financial institutions with whom they have a tie-up. This mostly ensures that you get a better bargain on interest rates and discounts. The dealer also takes care of the tedious paperwork.

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