how much cost first downpayment
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.
It is great that you wish to buy a new car and we are happy to be a part of your new car purchase. Choosing between the fuel type is always an important decision. If you drive for more than 1500 kms in a month, you should go for a diesel car and if you drive less then you should choose a petrol one. Click here to go through our story which would help you decide which fuel type you should go for. Talking about the cars that you have short listed, all of them are class leading. Swift is going to be face lifted this year, the ongoing version doesn't have that much to offer you. Baleno is great car and so is i20, there are quite a few differences when it comes to power and features. i20 comes with rear AC vents and Baleno has ABS and airbags as standard. Baleno also feels light on the steering but i20 does not. Both cars offer almost same amount of leg room and space. We would suggest you to go for Baleno if you are looking forward to buy a low maintenance car. If you are looking forward to buy a car which has better comfort features, go for i20.
Yes, certainly you can get a car on EMI. You need to take a car loan in order to purchase a car. The eligibility depends on your bank profile. You can get finance from various bank and even from the brands. The amount is disbursed in the dealers account and you have to pay the EMIs as per the calculation. In order to get further clarity over this you can click here or call us on our toll free number 1800-200-3000 (Mon to Fri, 10AM to 7PM) and our team will help you in the best possible way.
Hey Vinay, as of now we will not be able to share this as we are not aware of the norms that a banks follows while they decide the eligibility of loan. However, you can contact us on our toll free number 1800-200-3000(Mon to Fri, 10AM to 7PM) and our team will arrange a call back for your from our finance team. They will surely help you with this concern. Click here to check out our finance section.
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