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down payment or monthely emi

Published On : 2016-08-01 18:24:32.0 lokeshwar
Category : Financing
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Generally, you need to pay 20-25% of the ex-showroom price of the car as a down payment and rest of the remaining amount is converted into the EMI. EMI will depend on the down payment you pay, interest rate and the tenure you opt for the loan i.e 3 years, 5 years and so on.

Your credit score will play a key role in the rate you'll pay for your loan. Car loans typically come in 3 to 7 year terms. The longer the term of the loan, the lower the monthly payment but you have to pay more interest.

Moreover, you may go through the article on "How to Select a Car Loan". It might help you.

In order to check the eligibility and to apply for the loan, click here.

CarDekho Helpdesk on 2016-08-02 10:35:52.0
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