Car Loan vs Full payment
- Thread starter ironman
- Start date
Bharatiya Nagrik
KF Mentor
Ideally a no loan car is better but there people who don't directly buy a car on full payment. They instead invest the amount in investment which yield a higher interest rate so that they can essential offset the interest rate of the car loan and earn additional interest making the car loan interest free.
So going to purchase by full payment..
BHAVESHKESWANI
KF Expert
there are two options i think.
1. purchase in full payment
2. invest it in SWP plann. inquire about any cheap Auto Loans from any convenient bank with lower Interest rate. My advice is that pay car loan EMI from SWP withdrawl amount.
1. purchase in full payment
2. invest it in SWP plann. inquire about any cheap Auto Loans from any convenient bank with lower Interest rate. My advice is that pay car loan EMI from SWP withdrawl amount.
Last edited:
Isha Nigam
KF Ace
Good morning sir you should take loan from your primary bank but in hdfc bank car loan is less rate of return and convenient . When you take loan from you can invest your money in market and earn profit that profit you can pay your EMI of your loan this is best option according to me more information message me sir . Thanku sir
lone_warrior_ind
KF Ace
Sharing Personal Expereince.
Last week i purchased Kia Carens total amount was 13.7L, I took loan for 12L ( which is equal to ex showroom price) got loan approved by Punjab & Sind bank,
loan interest rate is 8.8% for 7 years, Advantage with PSU bank, I can do pre payment anytime without any plenty.
I have capacity to buy car in full payment, but I choose to buy cheaper loan & invest that money gradually in market,
check with CIBIL if its bad & loan interest rate is higher then rethink, because no point to buy with high interest rate
Last week i purchased Kia Carens total amount was 13.7L, I took loan for 12L ( which is equal to ex showroom price) got loan approved by Punjab & Sind bank,
loan interest rate is 8.8% for 7 years, Advantage with PSU bank, I can do pre payment anytime without any plenty.
I have capacity to buy car in full payment, but I choose to buy cheaper loan & invest that money gradually in market,
check with CIBIL if its bad & loan interest rate is higher then rethink, because no point to buy with high interest rate
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