Zero Downpayment: Everyone can afford to buy a car. But not everyone has a proper budget. In this order, some take a loan and buy a car to fulfill their wish. Others get their own car through a loan from the bank. In this order, even if you take a loan from the bank, you have to pay a lot as down payment. At least Rs.10 thousand to one lakh should be paid. But you can buy a car without making this down payment. Only a few get this opportunity. Let's see who they are.
Many people are excited to buy a car through a bank loan. Because you can pay small amounts of money every month without paying lakhs at once. This way you can use the car for years paying less amount. But a lot of interest has to be paid on the total loan taken. Generally, if you buy a car through a bank loan, you have to pay 8.75 to 9 percent interest. But you can buy a car without paying a single rupee down payment.
But this opportunity is offered by the bank not to new customers but to existing account holders. They give this opportunity based on the transaction and deposits they make. In this, customers can bring the car home without any down payment. But the thing to note here is that buying a car without a down payment will result in higher interest rate. Those who buy a car like this have to pay 9 to 10 percent interest.
However, even if the car buyer has to pay a higher percentage of interest, the company itself will bear the additional expenses like registration, road tax and insurance. This is provided in another way. Those who want to buy a car without any down payment in total can avail this facility.
