I want to buy a car its approx 16 lakh and i have 16 lakh cash in hand should i go for all in cash can you guys explain the down payment and taking fd

[vishal negi]

I want to buy a car its approx 16 lakh and i have 16 lakh cash in hand should i go for all in cash can you guys explain the down payment and taking fd

 

[uttkarsh.agrawal]

 

[prashantmodi21]

you should get a car loan of 70% of your car on road price with any psu bank with lowest interest rates and minimal charges, it'll be around 7.70 to 8% interest rates and .25 to 1 processing fee, if your credit score is more than 750. Make 30% upfront down payment and invest excess amount to liquid mutual fund (goes around 7-7.25% interest p.a) and start swp(systematic withdrawal plan) 2-3 days before your monthly emi date for seamless emi payments.