Q1
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Two Wheeler Loan or Personal Loan...???
Actually i planned to buy a two wheeler worth rupees 55000. I can't prepare the amount for the down payment, if i'm going for two wheeler loan. May i take a personal loan for that. Then i can pay the full amount for the two wheeler. Which one is best is there any problems... Help please.
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Asked by Doubtman on 2008-04-18 14:04:34. |
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A1
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Q2
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can anyone give advice on from which bank will it be better to avail a two wheeler loan with lowest interest?
i want to know first of all if it will be better to opt for nationalised bank or private bank. and if i want approx a loan amount of 40000 for 2 years repayment time which bank will be a better option?banks like sbi or canara etc or icici hdfc etc?vehicle amount is 53000.and is the procedure for getting loan from nationalised banks very difficult(like do a third party has to certify that he will repay if i cant pay the loan and all).after considering service charge, interest, documentation charge etc. which bank will be better to choose ?
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Asked by anoop on 2007-08-30 15:08:32. |
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FROM ANY NATIONALISED BANK
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Answered by RAMAN IOBIAN on 2007-09-02 13:09:32. |
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Q3
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Should I refinace my mortgage, currently at 6.5%? I have two debts, a car loan 20k and a time share 20k.?
Should I borrow from my equity in the house to pay off the debt? I have five years to pay off the car loan, which is at 4.9% interest and I have 10 years to pay off the time share, which is at 18%.
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Asked by manuel d on 2006-12-04 03:12:34. |
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Refinance and eliminate the 18% debt . The auto loan , if an APR of 4.9% is reasonable. If you prepay it, there could some penalties since interest was probably added on to the initial amount borrowed.
Interest on the car loan is not deductible for tax purposes unless the car is used for business. That would be the only reason to use a home equity loan to pay off the car loan.
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Answered by Gone Golfing on 2006-12-04 05:12:53. |
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A3
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Q4
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i have not repaid my car loan in 2 yrs.how do i go abt repaying it now in india?
I took a car on loan and lost my job so could not pay my car loan.now i am settled in job and can pay back.How do i go abt repaying back my loan?do i need to appoint a lawyer?would the banks have filed a case against me?please let me know.i am in india
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Asked by amitabhcbe on 2006-08-09 11:08:45. |
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You have to contact at related bank manager.he wil charge panality i.e Intrest of two years with fine and then you have to pay regular installment as with the running rate of intrest.
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Answered by linda on 2006-08-10 21:08:58. |
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Q5
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i have not repaid my car loan in 2 yrs.how do i go abt repaying it now in india?
I took a car on loan and lost my job so could not pay my car loan.now i am settled in job and can pay back.How do i go abt repaying back my loan?do i need to appoint a lawyer?would the banks have filed a case against me?please let me know.i am in india
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Asked by amitabhcbe on 2006-08-09 11:08:27. |
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The details given are incomplete. Where did you purchase the car, in India or abroad?
If purchased in India, you contact your financer, who will arrange for getting the repayment.
It is surprising that the finance people, allowed you to go scot free, even if you have not paid the instalments, for 2 years. They would have confiscated the car, for non payment of loan amount. It is a million dollar question, how they allowed you for 2 years.
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Answered by Electric on 2006-08-09 11:08:27. |
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A5
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Q6
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Any auto loan companies that do not require insurance on the car?
I asked another question a minute ago on here, but I didn't have space to ask this.
I want to refinance my car, but I do not want to have full coverage insurance or even liability insurance. Does anyone know *ANY* lenders who I can refinance my car with that will not require insurance??
Any advice or comments appreciated!!
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Asked by james m on 2007-02-08 09:02:34. |
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No. You aren't going to find any "auto loans" that don't require insurance. The reason that auto loans have a lower interest rate is that they are being secured by a piece of property. The insurance company has an interest in protecting that property.
If you want a loan for your vehicle without the insurance requirement, then your best bet is to take out an unsecured personal loan, a home equity loan, or put the purchase on a credit card.
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Answered by sdatary on 2007-02-08 20:02:15. |
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A6
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Q7
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Is it breach of contract to allow another person (spouse) to drive your vehicle if the car loan is in your nam
also both parties are insured on the car.
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Asked by Candace P on 2006-07-28 00:07:13. |
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no as long as you have insurance
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Answered by jannie on 2006-07-28 08:07:36. |
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A7
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Q8
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In a car loan amortization schedule is the first advance emi paid to dealer reflected in the statement ?
I have taken an ICICI Bank Car Loan. The schedule sent by the Bank does not mention the advcance emi given to the dealer. The schedule for a 5 year loan only mentions 59 installments and no advance emi.The Dealer says the first installment is never mentioned - just wanted to check if I am being gypped
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Asked by ranjanchou on 2006-11-19 17:11:19. |
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Have no worries. Financial institutions usually deduct first EMI from the loan / finance provided to you. So if you check the agreed amount of loan and the cheque paid to dealer you would find your first EMI is being deducted there. This is a regular practice and fair one. No you are not being treated irregularly.
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Answered by akash_sky on 2006-11-21 20:11:45. |
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Q9
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Can I get 0% car loan in India?
I want to buy a car in India. Can I get 0% car loan in India?
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Asked by Nadim Shaikh on 2008-03-20 12:03:10. |
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Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen towardyou can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender
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Answered by Tabitha on 2008-03-20 22:03:25. |
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A9
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Q10
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What is the minimum age to avail car loan?
I just turned 18 in September (2007, obviously), and I want to buy a car. My monthly income is well over 80,000 and I was wondering if I can avail car loan in India.
If yes, then which bank?
I just checked out some bank websites. They all say 21 is the minimum age. Ouch!
Any clues?
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Asked by ankitha_007_1 on 2007-10-28 20:10:39. |
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18 is the specified minimum age. However banks have the right to define a different policy as long as it is not going below 18. So you can't really sue a bank for not granting a loan at your age. Check private finance companies and cooperative banks.. Car dealers can help you with it.
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Answered by Gulab on 2007-11-01 17:11:17. |
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A10
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