What are the best car deals that you can avail of or what are the present car loan rates in the market are the questions that banks and financial agencies face from car buying customers. There are different phases in a year when the car buying spree increases among the Indian customers. Diwali, New Year's and other festive or auspicious occasions see a rise in car buying among the Indian customers.
Nowadays the internet has become a convenient source for such information. One does not have to fall into the traps of financial agencies and banks who try to lure customers to opt for their loan instruments and try to make them believe that they have the best deals for them. One can make independent comparisons thanks to the online websites which exist. The car selling or information forums do not only carry information about cars but also the best finance deals for the customers.
Factors to consider
Look for the lowest interest rate in the market. If banks like HDFC are claiming to have the best car deals in town, then you need to verify that claim. From Axis bank to ICICI, one can log onto helpful forums where one can get information about the different car loan rates. Again, the lowest rate should not be the sole deciding criterion. Some banks offer the option and the convenience of e-approval. One can opt for instant loan approvals online. Transparency is another feature which one should look for. All important information related to the loan should be disclosed to the customers at the very beginning.
How to get a car loan online
Usually the car forums have a feature called the eligibility calculator. Are you eligible for an auto loan? How much? These questions are easily answered when one avails of such a feature. Not only can one find out about one's eligibility, one can also compare different offers.
Getting car loans sanctioned
Once one applies for a car loan online, one can expect to be contacted by the lender within a day or two. The website also sends updates regarding the loan application status. One can even opt for SMS alerts. There are EMI calculators on such websites. These allow one to know what exactly will be the monthly interest burden.
In such ways one can get enough information about auto loans, their rates and the best ones to opt for.