Smart Car Financing
Applying for a Car Loan Without a Co-signer? Don’t Miss These Tips
A strong credit score drastically improves the chances of getting a ‘no co-signer’ car loan approved. First-time car buyers may face stricter requirements or higher interest rates for loans without a co-signer.
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Negotiate Better with a Pre-Approved Car Loan: Here’s How to Do it
A pre-approved car loan can be used as a backup or reference to get better deals from other banks. It also reduces the dependency on car dealers, who often charge unnecessary plans or force unreasonable add-ons.
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Car Loan Moratorium Explained: Here’s How it Works
A car loan moratorium offers you the leverage of temporary relief from EMI payments by pausing them for a specific period during the loan tenure.
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How to Pay Off Your Car Loan Faster: Here are Five Tips to Do it
Banks offer the facility of part payments during a car loan tenure, which helps in reducing the interest and principal over the tenure. While some banks offer the leverage of making only a selected number of part payments, others provide unlimited part payment options
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Lowest Rate of Interest for a Car Loan: Here’s How You Can Get it
The interest rate of car loans is primarily of two types: fixed and floating. You can lower the interest rate yourself by opting for the lowest possible tenure and the highest possible down payment.
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Strike a Better Deal with a Pre-Approved Car Loan: Here’s How it Can be Helpful
The bank offers a pre-approved car loan based on a good credit score, which is
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Managing Car Loan EMI: Here’s How You Can Do It Efficiently
There are three factors that make up an EMI: principal, rate of interest and loan tenure. The option of auto-debit or Electronic Clearing Service (ECS) provides a more straightforward, well-documented payment method and a track record.
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Having a low Credit Score? Here’s How You Can Still Get a Car Loan
People with credit scores lower than 670 usually have a tough time availing a car loan easily. One can still obtain a car loan with a low credit score by improving it before applying, as long as there are timely payments on previous loans, if any.
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Depreciation on Car Rate: What it Means for You
Cars lose 15-20% value in the first year and up to 50% by year five. Better maintenance, fuel efficiency, and fewer owners help slow depreciation.
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