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Things you should check before taking an auto loan

Before you plan to buy your next car, and if intend to take car loan for it, know Top 5 rules as tips to ensure best interest rate, discount negotiations, gimmicks and ways to get best deal on car loan online:

Jaya Rai
Last Updated : May 17, 2024, 14:11 IST

Interest rate: Ensure the used car loan interest rate mentioned in the document is the same as agreed upon during the verification stage. It should also state the nature of the interest rate, whether fixed or floating.

Tip: While choosing a second-hand car, make sure to pick a vehicle in good condition, with a high resale value, and from a good dealership.

3.Self assessment: You need to assess your credit score before applying for a loan. Also, your duration for loan requirement needs to be assessed and it is advisable to pick a smaller duration loan.

You may eventually “default” on your loans or credit cards, and it’s critical to understand the consequences of missed payments or defaults.

Published: March 19, 2021, 14:38 IST

Things you should check before taking an auto loan

Before you plan to buy your next car, and if intend to take car loan for it, know Top 5 rules as tips to ensure best interest rate, discount negotiations, gimmicks and ways to get best deal on car loan online:

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