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  • luvkush asked on 1 Sep 2019
    Q.

    What is the minimum down payment on the car?

    • Cardekho experts
    • on 1 Sep 2019

    If you are planning to buy a new car on finance, then generally, 20 to 25 percent down payment is required on the ex-showroom price of a car. However, exact confirmation regarding EMI, down payment, interest, loan period and its procedure will be discussed by the bank only, as it depends upon individual eligibility. Moreover, the finance on the cars differs on the above-mentioned derivatives. If you are considering taking a car loan, feel free to ask for quotes from multiple banks and even from the dealership itself. A lot of banks and lending authorities have tie-ups with dealers to offer a better and easy loan. Or, you can check with your own trusted bank and authorities in case they have a better loan plan to offer.

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