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Are legally adult enough to handle it
Have still got it
Get a regular pay check
Make more than a basic buck
Minimum income required
Rs.2,40,000 per annum
Loan capped @
85% Ex-Showroom price
EMIs of other loans lower
Pay off your credit card bills
Choose longer tenure loan up to 5 Yr years
|Interest Rate (Monthly reducing balance)||10.5% - 12.75%|
|Processing Fees||Rs. 500 to Rs 5,000|
|Loan Tenure||1 year to 5 years|
|Pre-closure Charges||2% to 4% on outstanding loan amount|
|Guarantor Requirement||No guarantor required|
Car loans are the simple means to a glorious life milestone- owning your dream car. Almost all of us want to own that shiny set of wheels and drive it triumphantly, into the sunset. However, owning a car (vehicle in general) in India is a costly proposition, one that usually demands the impetus of a sizable financial assistance from banks/ financial institutions that have dedicated loan products in this regard. Almost all private/public sector lenders in India offer car loan options with terms and conditions that are highly customer friendly, affordable and scalable. By qualifying against a very simple list of identity, income and credit history qualifications, you can be the proud owner of your own brand new car.
Choosing a car loan in India has two distinct reasons and advantages. Firstly, cars are expensive. This is a costly investment that is usually not completely affordable in the case of a typical middle class Indian. While his/her savings may account for a sizable portion of the purchase amount of the vehicle, a significant portion of the aforementioned purchase must be covered by the amount as provided by the car loan. Secondly, massive purchases (such as buying a car) with liquid cash could get you on the IT department’s radar, plus, you lose the chance to build up crucial credit history by subscribing to a car loan and religiously adhering to the repayment cycle. The credit history thus built, will help you procure more loans in the future. Hence, car loan in India are the surest and safest way to purchase your ideal vehicle.
When it comes to car loans in India, in general, the following features and benefits are freely offered. Note that, the following is a generalized look at the advantages offered by car loans in general. Individually, car loan lenders may have highly customized and specialized offerings for their customer base.
BankBazaar.com is an online aggregator of car loan products as offered by banks and other financial institutions across India. Perceptively, checking out and applying for a car loan on this customer friendly website offers the following unbeatable advantages-
Browse through and get all the information about the most popular car loans available in India. Having so many options before you allows for informed decision making, based on the analysis of the various features, pros and cons offered by the car loans.
Breeze through all the car loan options before you and select the one that best satisfies your requirements and respects your limitations. Traditionally, this step would entail a lot of running around and enquiries, however, BankBazaar.com turns this into an intensely informative, interactive and private affair that could be completed from the comforts of your home or office.
A simple and interactive wizard helps to ascertain your qualification for the car loan and throws up the best options in line with your requirements. This saves time and cuts out the middlemen.
Applying for a car loan on BankBazaar.com is as simple as simple can be. After selecting your car loan and furnishing some essential details on the website, the process is taken over by the bank offering the car loan. Save on all the leg-work, get your car loan with a few clicks on the computer mouse.
Have a query or concern with regards to the car loan in question? The expert customer support team from BankBazaar.com is always at hand to sort all your issues. Procuring that ideal car loan was never more simpler.
Making use of the various offerings from BankBazaar.com, including friendly tools like ‘Car Loan EMI Calculator’ is completely free of charge. Convenience meets simplicity, at 0% monetary investment.
Applying for a car loan on BankBazaar.com involves the following steps,
In terms of popularity, the following banks offer the most sought after car loan products in India,
HDFC Bank Car Loan- Funding 100% of the intended car’s on-road price and offering a repayment tenure of upto 7 years, HDFC bank has always been a solid option when it comes to car loans in India. The terms offered by this loan product is very flexible, and the cake gets even more sweeter for existing HDFC bank customers who get the option of pre-approved car loans. Whilst the bank offers a very competitive interest rate on its car loan product, the prospect of EMIs amounting to just Rs.1671/lakh makes the deal that much more lucrative. No wonder car loans from HDFC bank have always remained an enduring favorite amongst the Indian public.
Aside from the features listed above, HDFC Car Loan offers quick and hassle free loan processing, fixed interest rates that aren’t affected by market fluctuations, the option for car loans without the necessity for income proof and associated documents, car loans amounting to 6x of your annual income, and other such customer friendly features that are backed by a robust customer support initiative. Indeed, car loans from HDFC bank are feature rich, affordable, immensely popular and worth your undivided attention.
ICICI Bank Car Loan- When it comes to a complete, feature-rich car loan option in India, few can match upto the versatility and simplicity as afforded by the ICICI Bank Car Loan. Offering funding to match 100% of the ex-showroom price of the vehicle, the car loan experience at ICICI is driven by powerful 24x7 customer support and ICICI’s brand of customer relationship management. The other pleasing features include loan tenure of upto 7 years, pre-approved car loans for existing ICICI customers, minimal documentation, hassle free application process and a simple option to apply for the car loan online. ICICI bank has configured its car loan product to be as customer friendly and approachable as possible.
When it comes to a typical Indian customer, the applicable interest rate and the other associated charges holds great prominence with regards to the prospective car loan. In both these cases, the car loan from ICICI bank rules the roost. Alongside these factors, the consistent goodwill enjoyed by the ICICI bank and the positive feedback that it consistently receives with regards to its loan products must prove ample reasons to invest your interest in ICICI bank car loans, when you are out looking for one.
SBI Car Loan- As India’s premier public sector bank, the State Bank of India (SBI) enjoys a level of popularity and support from the general public that few other public/private sector Indian banks can match upto. In this light, the SBI Car Loan is an intensely customer centric loan product. Offering very competitive interest rates, comfortable repayment tenure of upto 7 years, loan amounts that match upto 85% of the proposed vehicle’s on-road price and 0% pre-payment or foreclosure charges, the SBI car loan has its legion of loyal and enduring fans. Unique features such as the overdraft facility and the provision of optional SBI life insurance cover has contributed to SBI car loans’ lasting popularity.
For a typical, first time car loan subscriber, the numero uno priority is in relation to the confidence, comfort and simplicity that his/her choice of car loan provider can elicit. In this regard, the public sector behemoth named SBI has little competition in India. Known for its people centric approach, the car loan product from SBI is highly sought after and will continue to remain a premier choice in the years to come.
Axis Bank Car Loan- A premier private sector bank, the car loan product from Axis Bank is commended for its simple application procedures, customer friendly terms and conditions, robust customer support initiatives and adherence to the modern ways of personal banking. The bank offers upto 85% of the proposed vehicle’s on-road price, and in the case of some select car models, this number can hit 95%. Other friendly features include an attractive interest rate, comfortable repayment tenure ranging from 1-7 years, provision of loan to a wide demographic of individuals including salaried, self-employed, partnership firms, corporates, limited liability partnerships, etc. The true strength of the Axis Bank Car Loan is the wide popularity it enjoys amongst its target audience.
Simplified eligibility criteria, minimal documentation and the ease of online application are some of the features that work strongly in favor of the Axis bank car loan. The bank has in store, car loan offerings that match upto the most discerning tastes and complies with the most budget conscious requirements. Configured to emerge as the most ideal car loan product available in the Indian market today, the Axis bank car loan will surely engage 100% of your undivided attention.
|Bank.||Loan Amount.||Tenure.||Interest Rate.||Features.|
|HDFC Bank||100% (ex-showroom price)||Upto 7 years||10.50%-12.50% (depending on individual factors)|
|ICICI Bank||100% (ex-showroom price)||Upto 7 years||10.75%-12.75% (depends on the loan tenure)|
|SBI||85% (On-road price, when net annual income is upto or above Rs.10 lakhs)||Upto 7 years||10.30% (may range upto 11.10% for differing conditions)|
|Axis Bank||85% (ex-showroom price) 95% (on select models)||Upto 7 years||11.50%-12.50% (depending on individual factors)|
|Magma Fincorp||100% (ex-showroom price)||Upto 5 years||12%-16% (depending on individual factors)|| |
When it comes to selecting the car loan that works best for you, some fundamentals will come in handy. The following list explains the do’s and don’ts when choosing the right car loan,
Check out the maximum number of options available to you. Not all car loans are created equally- and finding the best loan could involve some work. BankBazaar.com can help you here by helping you check out and compare between the various car loan and used car loan options available to you.
The applicable interest rate is potentially the biggest factor when it comes to choosing the right car loan. Not surprisingly, the lower the interest rate, the better. This condition holds true even when a lower interest rate would mean that some of the expected features aren’t available in the loan.
Pay heed to your financial limitations and choose a car model that perfectly suits your budget. This will imply that your car loan is in line with your set requirements. Don’t fall prey to up-selling tricks at the car showroom.
Sometimes, what appears as obvious will have a hidden component. Be completely aware of the hidden fees and charges concerning the car loan, as also be cautious of time bound incentives and packages- they will expire soon and you may be left with a lesser deal than you hoped for.
When applying for a car loan in India, across any of the possible lenders, the following documents must be submitted for verification. Note that, in their individual capacity, the lender may request you for more proofs and documents.
In order to be eligible for a car loan in India, the applicant must qualify against a certain set of expectations. Generally, car loan eligibility is dependent upon the following factors-
Kindly note that all the numbers and variables here may differ from bank to bank. In their individual capacity, banks may have additional qualification procedures.
The interest rates applicable to car loans in India will differ from bank to bank. These lenders depend on their unique criteria and base lending rates to decide upon the applicable car loan interest rates. However, in India, car loan interest rates ranging between 10%-15% are generally expected and considered competitive. Kindly refer to individual banks’ car loan pages on BankBazaar.com for more information in this regard.
When we speak of a Car Loan EMI Calculator, we are referencing to an online tool that assists in the electronic computation of the Equated Monthly Installments (EMI) as applicable to your car loan. On BankBazaar.com, the interactive, time saving and informative Car Loan EMI Calculator will simplify this otherwise tedious and uninspiring task. This calculator exhibits the following characteristics,
|Submit Income Proof||Bank Statement (last 6 months)|
Pay-Slips (last 3 months)
IT- Returns (last 2 years)
|Lender wants to establish your ability to repay the borrowed amount.|
|Submit Proof of Address and Identity||PAN Card, Voter’s ID, Aadhaar Card, Passport, etc.||Lender wants to establish your nationality, identity and permanent address.|
|Credit History||PAN Card||Lender wants to check your past credit records and establish if you can be trusted to make regular repayments.|
|Information About Vehicle||Sales Receipts from the Showroom from wherein the Vehicle was Purchased.||Lender must confirm that the deal was affected as intended.|
|Proof of Insurance and Driving License||Copies of the Vehicle’s Motor Insurance and your Driving License.||Lender must establish that all laws and protocols are followed with regards to the purchased vehicle.|
This factor differs from bank to bank. While some banks offer the complete 100% of the vehicle’s ex-showroom price, banks such as SBI offer upto 85% of the vehicle’s ‘on-road’ price. Generally however, the minimum loan amount will be equal to Rs.1,00,000.Can I pre-pay the entire loan amount? What are the conditions involved?
Yes, you can prepay the entire car loan and save on vital interest payments in the future. However, most banks will allow the pre-payment option after you have chalked off 6 months on your loan tenure. Plus, you will be expected to pay a small fee as pre-payment penalty that will be dependent on the leftover loan amount.What car models are financed by the standard car loan in India?
Unless otherwise specified, almost all small to medium sized cars, Sports Utility Vehicles (SUV) and Multi Utility Vehicles (MUV) come under the purview of car loans available in India. However, as mentioned, refer to the loan brochure for exceptions to this rule.When applying for the car loan, do I need a guarantor/ security?
Almost all car loan products available in India are secured loans, with the procured vehicle itself acting as the customary security. Most lenders in India will not insist upon any guarantors, however, if your annual income does not match upto the expected requirement, then you may be expected to sign-up a co-applicant and/or guarantor.What are the commonly available car loan repayment tenures?
Repayment tenures usually range from 12 months to 84 months (1-7 years).
The Diwali Dhamaka Flash sale is back again! Apply for a car loan through BankBazaar.com and upon approval of the car loan, you not only get to own your dream car but you can also purchase any item of your choice with a complimentary Amazon Gift Voucher worth Rs. 5,000. This promotional offer is valid for all car loan applications made from October 18th, 2015 to November 14th, 2015.
Once the car loan application has been successfully sanctioned by the concerned bank, customers will receive the Amazon gift voucher in the e-mail address specified in the loan application form. The car loan approval has to be made by the bank by January 15th 2016, at the latest, otherwise the applicant will not be eligible for availing the promotional offer. This offer is valid on car loan products offered by specific banks only. In order to identify the same, a banner has been placed against relevant products, which displays the Flash Sale/ Amazon Gift Card Badge.
Individuals who are 18 years old or above, are eligible to apply for a car loan through BankBazaar.com and avail this offer. The validity of the promotion is restricted to only one voucher per product for an applicant.
With a record boost in its sales, Toyota has claimed the title of world’s leading automaker of the year 2015. The company has reported a sale of about 7.5 million vehicles worldwide. Volkswagen has come a close second, with a sale of around 7.43 million vehicles. Reports collected during the first half of this year has projected this growth trend. Toyota had won this title earlier on in 2008, from General Motors, and with a boost in production and better operational strategies it is in the lead once again.
19th November 2015
As the festive season progresses, customers in India have reacted to the rate cut of 50 basis points done by the Reserve Bank of India (RBI) earlier by opting to invest in bigger deals for their families. Following this, interest is being shown in purchasing home appliances, cars and also splurging on luxury items. After the repo rate cut, car loans have come down by 25 basis points and home loans by 30 basis points. Though not as expected, the festival season is sure to bring in exciting discounts and offers on big purchases. Most loans are currently being offered with floating interest rates, for borrowers to benefit from rate cuts. As a growing trend, Indian consumers are seeking to convert their huge purchase into monthly installments and repay them at low interest rates. Banks are also adapting to this phenomena, as earlier institutions had depended on growth through investments, but are currently expecting to grow based on better consumption in the market.
18th November 2015
Hyundai Motor India Limited reported an impressive increase in its total sales of 10.3% for October 2015. The total units sold in October was 61,792. In the previous month, Hyundai sold only 56,019 units which is quite lesser. Comparing the sales record to October 2014, Hyundai sold 47,015 units more in the Indian market, marking a growth of 23.7% in one year. However, Hyundai’s exports didn’t see a rise. The export market saw a fall of 17.9% comparing 18,009 units sold in October last year, and only 14,777 sold in the same month this year.
The rise in sales can be credited to a strong performance by the Grand i10 with an all-time highest sale for Hyundai. The Hyundai Creta, Active i20 and Elite i20 can also be given credit due to the records of good sales from these modern premium cars. The company expects to see this growth continue through the rest of the year and the next. It’s safe to say the slash in lending rates and affordable car loans will also contribute to higher sales.
13th November 2015
With the “Make in India” campaign being launched by the Indian Government last year, investments in homegrown businesses have multiplied considerably. Initiatives are being taken to support indigenous establishments and procure more investors. Along the same lines, the Indian automobile industry has expanded its horizons by installing car, two-wheeler and commercial vehicle manufacturing units within the country. Most automobile manufacturers have export bases in India, with a few more on the anvil. Automobile makers like Maruti Suzuki, Nissan, Toyota, Hyundai, Volkswagen and Ford are currently exporting vehicles to Brazil, Africa, East Europe and Latin America. Locally made, the 'Made in India' cars have not only become popular in the international market, but some are amongst the best selling vehicles and also part of the list of top selling cars. The Volkswagen Vento, Chevrolet Beat, Toyota Etios and Etios Liva, Nissan Micra and Ford Ecosport are some of the cars that are being exported. These car models are also hugely popular in India and consumers can purchase them with a convenient car loan deal from any lending institution.
12th November 2015
Everybody’s dream car Ferrari has never exactly fallen for the number game so far, but this Maranello-based car maker currently plans to increase its production by 30 percent. Although the company’s financial stability has been maintained, it seeks to increase its profits. According to a filing with the Securities and Exchange Commission, there are chances of Ferrari increasing its presence in emerging markets so as to take advantage of the spending capacity of buyers in these markets.
The current chairman of Ferrari, Sergio Marchionne believes that the future of Ferrari lies in increasing its numbers even though he had initially agreed to keep the annual volume of cars below 7000 units. As part of these expansion plans, Ferrari intends to introduce a new model each year until 2018 and the Prancing Horse has been working on a brand new modular aluminium space frame. This chassis is also expected to be a part of all the new models including the next-gen California which is expected to make its debut in 2017.
6th November 2015
BMW finally launched the much-awaited X5M and X6M in India. The models are the only SUV based performance cars of the BMW M division. Both cars are also the first high-performance SUVs of the BMW M Division to come to India. Fitted with a 4.4 litre twin turbo V8 engine coupled with an all wheel drive, the X5M and X6M are set to power through the roads with high ground clearance. These cars will satisfy the customers who seek luxury as well as high-performance.
The X5M is a Sports Utility Vehicle. The X6M, however, is classified as a Sports Activity Coupe.
The cars are similar to the M6 Gran Coupe and the M5 sedan carrying the same engine that powers both cars. The top speed on the X5M and X6M reaches 250 kmph, touching 0-100 kmph in 4.2 seconds. The cars are priced at around Rs. 1.55 crore for the X5M and Rs. 1.60 crore for the X6M. These cars will certainly cater to the luxury-driven customers and may fall out of reach for the customers who seek car loans to secure their dream car.
6th November 2015
Hyundai India has recently launched the Grand i10 and the Xcent in CNG Fitment using DEDST (Dual ECU Dynamic Sequential Technology), with a .2 Litre VTVT Engine. The CEV CNG Kit attached has been certified by Hyundai India and is a sequential kit, which will be fit only by Hyundai Authorized Workshops or Dealerships. The Warranty condition of the car would not be affected by the CNG kit fitment. Hyundai car owners can enjoy the advantage of fitting the CNG kit across any model of the i10 hatchback and the Xcent sedan. The output from the CNG kit with a 1.2 litre engine is expected to be 100 NM Torque and 71 PS Power. Any car installed with this kit would carry a dual system, where the switch to CNG will be made after the car has been driven for 2 kms and the switch to petrol will be made automatically if the CNG kit has run out of gas. A Hyundai car bought with a CNG kit installed would cost approximately Rs 62,000 more than the ex-showroom price (Delhi) of a petrol or diesel car. As a eco-friendly version, customers should definitely opt for a Hyundai car with a CNG fitment and get the new car conveniently financed using any of the affordable car loans provided by various banks in India.
4th November 2015
Are you planning to invest in a brand new car soon? Great! With the festive season around the corner, now is the best time to buy a car, as dealers would be offering the best possible deals with attractive pricing. The most popular car models that customers have been opting for this festive season vary from hatchbacks, sedans, and even SUVs. The Alto Series, i.e, the Alto 800 and K10 are the highest selling hatchbacks, currently. In the premium hatchback segment, the Hyundai Elite I20 has come out as the leading car with regards to sales in 2015. The Swift Dzire rules the sales segment in the compact sedan section, with sales almost equal to Alto. Honda City continues to be the leader in the mid sedan segment, being the car that has been sold the maximum in that segment, till date. In the Mid SUV segment, the Hyundai Creta has emerged as the biggest seller and the best performing SUV vehicle in 2015. With top brands competing with each other to get the top spot, customers in India can easily pick their favourite model and avail a car loan from any lender to finance their new cars.
3rd November 2015
For the month of September 2015, India saw a spike of 9.48% growth in car sales. This is the 11th month in a row where car sales have seen a continual increase. However, the motorbike sector is still seeing a decline in sales. Bike sales dropped by 2.87% in September as compared to the same month last year. As for car sales, last september recorded 1,54,898 units being sold. But September 2015 recorded 1,69,590 units. This can be greatly attributed to Hyundai, Honda and Maruti Suzuki launching new products that are driving the growth of passengers vehicles. Added to that, lower interest rates on car loans from public and private bank have played an important role as well. The pattern of growth in car sales is expected to continue in to next year as well. The utility vehicles and passenger cars are expected to see marginal growth.
02nd November 2015
As the festive season sets in, discounts and special schemes can be expected all around in celebration! With the shopping spirit in the air, all the automobile companies try to maximize their sales by offering different schemes which prove beneficial to their customers. Toyota Kirloskar Motors introduced “Q Service Festive Delights” on 1st October which will last all the way till 30th November 2015. Toyota Kirloskar most likely is also contributing to the car loan market business with customers eyeing the cars on offer.
The benefits under this scheme includes assured gifts when customers buy tyres or batteries, 35% discount on car care, up to 60% off on selected accessories, and a 5% discount on Road Side Assistance. Customers will also be able to avail of attractive offers on U-Trust. Apart from these benefits, a few lucky customers stand a chance to win a trip to Dubai. There is also a weekly draw held in which customers can win a free Express Maintenance in 60 minutes (EM 60). To add to all the festivities, it is also the third anniversary of Etios and calls for more celebrations. Potential buyers of the Etios stand to get even more attractive offers and gifts.
29th October 2015
Nissan revealed a new and more powerful Patrol that has been tweaked by NISMO. The Patrol is quite a large and bulky SUV and wasn’t expected to be a fast driven car. With the help of Nissan Motorsports International, a new high-performance Patrol is available in the Middle East. There are no reports as to whether Nissan intends on selling the Patrol NISMO around the world. The regular Patrol, however, might hit the Indian markets. If the Japanese automobile maker does decide to sell the Patrol in India, the car will most likely cost over a crore, putting it out of reach for the regular car buyers who usually seek car loans to buy a decent car. The Patrol in India would be a seven seater with a 400 bhp V8 engine. It would be a worthy competitor to the Land Rover and other SUVs in the Indian market.
28th October 2015
The production of the new Aegea from Fiat has been planned for November 2015 at the Bursa factory, Turkey. The car will be made available in over 40 countries around the world. The car should go on sale at the end of this year and will slowly replace the Fiat Linea. A new report mentions that the production of the Aegea could be done in Brazil and India. Though Fiat India does not have plans to introduce the Aegea in the country any time soon, if this report turns out to be true, India may see the Aegea in the markets and on the roads.
The Fiat Aegea is a spacious sedan with generous space inside and in the truck as well. The exteriors of the car will also have an attractive design.The car will be available in automatic and manual transmissions. With a host of appealing factors of the Fiat Aegea, if the price fits the model and the car hits the Indian markets, the car loan sector could see a boom in business.
23rd October 2015
Car manufacturers usually come up with attractive and customised versions of their cars including limited edition ranges. Joining this bandwagon is Maruti Suzuki with the new Glory Edition which is a limited edition range of Swift.
The exterior comprises of a contrast red roof along with wing mirrors, side decals and racing stripes giving the car a very cool and edgy look. It also has blackened C-Pillars, a rear spoiler and side skirts. The interior gets a makeover with a dual tone black and red seat upholstery along with a gear and steering wheel cover, reverse parking assist, a rearview camera, new floor mats and a bluetooth-enabled music system.
However, this edition of Swift is offered in only two trims that is the VDi and the VXi. The VDi edition will also possess EBD, ABS and brake assist. The Swift Glory edition will not come with alloy wheels or airbags.
However, this edition has the same 1.3-litre Multijet diesel and K-Series petrol of 1.2-litre. Apart from this, these engine options also have a gearbox that is manual and five-speed. The Swift Glory Edition is priced at Rs. 5.28 lakh for the model that is powered by petrol where the diesel one is priced at Rs. 6.19 lakh. Car loans would be a good option now for many customers eyeing the attractive features of the Swift Glory.
22nd October 2015
The BMW M2 is a highly anticipated model that has sent most car enthusiasts into a tizzy thanks to a host of amazing features. The BMW M2 has the basic body and internal architecture of the standard 2-Series models but boasts of a 3.0 turbocharged six cylinder engine that produces 365 hp. Although a double clutch self-shifting transmission is preferred, customers can also opt for a six-speed manual. The M2 is expected to rival the Audi RS3 and Mercedes CLA 45 AMG due to various features such as lightweight aluminium wheels and a more muscular body giving the model better stability. Massive ventilated disc brakes with an amazing set of quad exhausts are added to this model. In addition to this, carbon-fibre and Alcantara trim adorns the interior along with an iDrive Infotainment system.
Customers can own this swanky model quite easily thanks to the various affordable car loans available in the market today.
21st October 2015
The launch of five new cars in India this October will not only make the car loan market happy but will also make any car seekers ecstatic.
BMW will launch two models, the X5M and the X6M in October in India. The cost of these cars soar at Rs. 1.5 crore to Rs. 2 crore. The SUVs drive on 21-inch wheels and are much lower that the regular BMWs. They come with sporty bumpers, quad exhaust and wide wheel arches. A 4.4. litre twin turbo V8 engine will power it, while adjustable suspensions, eight speed gearbox, a sport exhaust and M-spec brakes give it a new edge amongst other cars.
The Chevrolet Trailblazer, a car fitted with a 2.8-litre 4-cylinder duramax diesel engine, will cost Rs. 25 lakh to Rs. 30 lakh. The engine is known for its high torque output and will give its name justice.
Maruti Suzuki will be launching the Baleno hatchback late October. Priced at around Rs. 6.5 lakhs and Rs. 9 lakhs, the Baleno comes with a new front grille, stretched out headlights and 16-inch wheels.
The Abarth Punto Evo will be launched focussing on affordability at around Rs. 10 lakhs. It will wear the Abarth badge, taking over the Fiat badge, and have many stylistic and feature changes. This powerful hatchback will be able to pull 0-100 kmph in under 8 seconds.
And finally, the Martui Ertiga receives a facelift and will be launched soon. The car will be available in petrol and diesel with the same engine as before. The car has mostly undergone cosmetic updates with added accessories like a start/stop button, smartplay infotainment system, bluetooth audio, rear parking camera, parking sensors, split third row seat, electrically foldable OVRM and a rear accessory socket.
20th October 2015
The Yeti crossover by Skoda was introduced in 2011 post which slight adjustments were made to it. However a newer version is expected by the end of 2017. Compared to the original Yeti, the newer version will focus on sharper design and comes with a significant increase in size. However, this change in size does not increase the weight of the Yeti thanks to the MQB platform which in turn results in the new version being lighter in weight.
The new Yeti will share certain features with Tiguan which was recently introduced such as the gearboxes and engines. Practicality is given prime importance hence the spacious interior with a huge amount of space with a trunk size that surpasses that of most cars.
This new model will be a part of a crossover series introduced by Skoda and this is believed to comprise of four models. It is expected to be out by next year with another crossover coupe expected to be released by 2017. These new models are expected to grab a lot of attention which would prove beneficial for banks and financial institutions offering car loans.
19th October 2015
The launch of the new Mercedes Benz GLE SUV launched on 14th October 2015. The new SUV succeeds the M Class. The SUV launched in two trims, GLE 250d and GLE 350d. The GLE SUV will be manufactured locally at the Mercedes Benz production facility in Chakan, Pune.
The GLE was called the M Class with a facelift as it has been given a number of cosmetic improvements. It has a newly styled radiator grille, a restyled bumper and new LED headlights. The rear end of the car has new LED back lights, a slightly modified bumper and dual exhaust pipes. The interiors of the car are mellow with a new steering wheel and a new button panel on the centre console. The GLE SUV will be the same as the M Class mechanically. It will have an option of two engines, a 4-cylinder diesel engine or a 6-cylinder V6 diesel engine.
The launch of the GLE launched the coupled with the introduction of the new gearbox that was developed. Mecerdes Benz joins companies like Maruti, Chevrolet and BMW who are also launching new models this month. The car loan market is sure to expect more business with so many brand new cars coming soon.
15th October 2015
India’s fourth largest car manufacturer, Honda saw an increase of 23% in car sales during the month of September. Honda Cars India Limited released a sales figure amounting to 19.291 car units inclusive of exports. In India alone, Honda has sold a total of 18,509 units for the month of September. Compared to last year, Honda has also seen a 106% increase in exports too. Currently in India, Honda has six cars in the market, namely City, Amaze, Jazz, CR-V SUV, Brio and Mobilio MPV. Amongst these, Honda Amaze has lead the performance with sales topping at 6577 units, followed by City selling 5702 units. Jazz comes next with 4762 units, Brio selling 759 units and Mobilio and CR-V showing a total of 709 units. With BR-V, a 7 seater Brio SUV, the next Honda car in the offing, banks in India would be competing with each other to offer the best car loan deals possible to customers. The BR-V is expected to face tough competition from Nissan Terrano and the Renault Duster, when it hits the road in 2016.
13th October 2015
RBI has reduced repo rates from 7.25% to 6.75%, i.e., by 50 basis points. This regulation is effective immediately and all banks are to lower their interest rates to the same effect. RBI has made this move with the intention of improving the country’s economy. Following this announcement, leading banks like State Bank of India, Axis Bank, Andhra Bank and Bank of India have cut their base rates. This reduction in interest rate will benefit not just the new car loan borrowers but existing auto loan borrowers as well.
12th October 2015
Audi has recently launched the 2015 A6 facelift with a starting ex-showroom price (Mumbai and Delhi) of Rs 49.5 lakhs. A diesel 35 TDI variant was also brought in by Audi following this launch. The 2015 Audi A6 will be offered as a 35 TFSI variant, with a horse power of 190 from an inline 4-cylinder, with a displacement of 1798 cc. With a seven-speed S Tronic transmission, the new A6 carries a mileage of 15.26 kmpl, which is way higher than the existing model.
The latest Audi A6 also features rear lights with turn indicators, Audi Singleframe grille and restyled bumpers. With this offering, Audi is hoping to pull in more customers than before. Audi A6 will face competition from BMW 5 Series, Mercedes Benz E-Class, Jaguar XF and the Volvo S80, when it enters the Indian automobile market. Customers wanting to invest in an Audi A can do so conveniently with the different car loan options available from various financial institutions in India.
9th October 2015
Not everybody can afford everything we desire and need. Be it car loan banks and financial institutions are in cut throat competition with each other in enticing clienteles with reduced interest rates, quick procedures and flexible tenures. Though latest technology has absolutely revolutionized the banking arena via mobile apps and online banking, the laws of wise borrowing still stays the same.
Here are 10 undisputable thumb rules of taking loans:
1.Avoid borrowing more than you think will be able to pay back in the given time. It is prudent to keep the car loan EMIs no more than 15 percent.
2.Shorter tenure translates to lesser money you lose as interest.
3.Financial discipline is a must when it comes to settling your loan. If you miss even one EMI or delay it, not only will you end up paying the penalty but also end up with a not-so-great credit portfolio.
4.Taking loans for other investment purpose is always a bad idea.
5.Purchasing an insurance is must if you are mortgaging to buy a vehicle.
6.Keep up with your research to strike a better deal in getting loans.
7.Do not just skim through the fine print but actually read them thoroughly.
8.If you are paying off many loans simultaneously, merge them all under one.
9.Do not hide about the loan from your close family.
10.Never break your retirement plans to settle loans.
8th October 2015
The initial version is called as ‘V8 Model’ and it is fashioned on the basis of E500 versions. It boasts of a multiple-spoke and 19-inch AMG and almost weightless alloy wheels done in titanium ash hues, along with V8 Edition exterior badging. It also comes with the Agility Control sports suspension. This way, clients can enjoy the advantage of an adaptable cushioning system in addition to a sporty style, which once started, will enhance dexterity and riding comfort.
As you get inside the car, you can spot its multi-curved seats in the front wrapped around in black or porcelain Nappa leather. Other tweaks worth mentioning include the flat-bottomed perforated steering wheel, Nappa leather armrests, contrast stitching and a black Nappa leather covering for the instrument panel. This version has also put a boned up infotainment system with an Apple CarPlay backing and they fitted a tri-zone mechanized weather control system too.
7th October 2015
Maruti Suzuki India Limited has come up with the Wagon R Avance Limited Edition at an irresistible label price of INR 4.3 lacs in the country’s capital. Styled on the basis of the LXi trim, the Wagon R Avance CNG is appraised at INR 4.83 lacs outside Delhi. This is a tried and tested but smart marketing tactic during the festive phase. Not only is the price reviewed, but they have also added some cool features. No, there will be no mechanical alterations.
While introducing WagonR Avance to the potential clienteles, Mr. Vinay Pant, Maruti Suzuki’s Marketing Chief went on to describe the vehicle in great detail. They have pinned their hopes on this model augmenting their brand value to great heights. The latest features of Wagon R Avance interiors are twin din stereo with Bluetooth, double tone dashboard with new taupe hue, top quality seat material, and back power windows. The car’s exteriors too are redone with elegant body graphics.
6th October 2015
Nissan Leaf, one of the most efficacious electric car to ever grace the earth, especially in the US of A, is all set to cross the next milestone. The Japanese automobile major has been intent on developing the next generation Leaf, which has become fruitful. The firm claims that this car will run an additional 400 kms in just a single charge. They have presented the 2016 make in UK, with a momentous boost in range. Keeping in mind the product cognizance Nissan Leaf creates when eco-friendly cars are still in papers, it has now achieved a healthy all-electric range of 250 kms.
5th October 2015
In this day and age, social media has a vital role for any kind of marketing and automotive industry is no exception. Augmenting vehicle sales has always been an expensive as well as slothful process for many an automobile firm. For instance, the new Hyundai Creta and Honda Jazz have executed distinct and quite competitive tactics to create that buzz and interest before these products grace the market. The latest model Mahindra TUV300 too followed suit in this approach.
As per the available data, the makers claim that request for information via websites form about 10 to 25 percent of the entire enquiries post launch. Hence the potential of social media to reach out to the masses is immense and the car companies are leaving no stone unturned to do some aggressive campaigns on social media portals like Facebook, Twitter, Youtube, Pinterest and others.
30th September 2015
Honda Automobiles inaugurated its Festival Edition' of their compacted sedan Amaze and multiple purpose car Mobilio in an attempt to bank on the forthcoming festive month. This would be a special treat for Honda clientele in the looming celebrations in India according to Senior Vice President of Honda’s Marketing & Sales Department, Mr. Jnaneshwar Sen. The manufacturer’s endeavor is to deliver element of newness to their models that can allure customers like never before. The Celebration Edition of the aforementioned makes would boast of features that reflects the festive theme on their outer surface with chic body visuals too. The insides of the vehicles have also been augmented with finest padding entailing designer seat covers and headrests.
25th September 2015
India’s biggest automobile manufacturer, Maruti Suzuki, distributed 1600 cars in a single day in Karnataka. These automobiles were delivered by wholesalers on the favorable occasion of Var Mahalakshmi, which is celebrated across the state. Ram Suresh Akella, Maruti’s Commercial Business Head of South Zone has spoken about the unique features as well as mileage that comes with Maruti vehicles and is happy with this feat.
The carmaker generally vends over 7300 cars monthly in Karnataka alone. The favorite models seem to be the Swift, Celerio, Dzire and Ertiga, not necessarily in that order. Their finest offering, Ciaz has also received an awe-inspiring approval by clientele according to the records. Maruti is proud of the fact that it has accomplished to sell 1200 Ciaz cars from in a mere four months (April to July 2015).
24th September 2015
Maruti Suzuki has introduced its first ever mild hybrid car product, named Maruti Suzuki Ciaz SHVS which is currently considered as one of the most efficient production cars in India. The Ciaz Hybrid comes with a certified mileage of 28 kmpl and an automatic start-stop technology. This innovative technology enables the engine to be turned off at signals or if the car has been stationary for some time. Another classic feature of the Ciaz SHVS is the Deceleration Energy Regeneration system which stores wasted energy in an electrical system. Helping take some load off the alternator, this system also improves the fuel efficiency of the car after a period of time. The Government also gives incentives for cars manufactured with hybrid systems and this amount is determined based on the level of fuel savings the vehicle offers. Customers planning to buy a Ciaz Hybrid can comfortably do so by availing any of the affordable car loans offered by banks in India.
22nd September 2015
Swift Sport or the swankier version of one of country’s most favored rear door could be displayed at the imminent Tokyo Motor Show with an engine with 1.4-litre capacity. The engine is most probably to arrive with a turbocharged Booster Jet technology. Primarily, the car will grace the automobile scene in the overseas markets, but as hot hatches are gradually escalating in India, this has the potential to become a huge rage here.
Talking about this impending concept, it will have some striking alterations from the present Swift, but will take motivation for the design indications from the same. It is allegedly said that the new model could have a width of 1.8 meters, which is significantly more than the prevailing one. Also, it will be remade to a DCT automated conduction along with an all-wheel drive.
18th September 2015
BMW’s M series is widely known for their superior technology that make normal cars function like race cars. BMW’s M Performance division has recently developed M4 GTS, in an intent to infuse racing technology into everyday car use. The new concept earned very good reviews for its futuristic design and innovative technology, when it was recently showcased at the Pebble Beach Concours d'Elegance. The BMW M Division’s President added that the BMW M4 Coupe is a combination of sports and everyday cars, while the BMW Concept M4 GTS focuses on newer technology and is more inclined towards race cars. The M4 GTS Concept carries dynamic OLED rear tail lights and also uses water injection technology. To ensure better aerodynamics, the front splitter and rear splitter are made of carbon fibre. For customers who wish to own a classic BMW car, banks will be offering exceptional car loan deals with competitive rates helping them fulfill their lifelong dreams.
14th September 2015
Toyota and Kirloskar entered into a joint venture in India in October, 1997. The company is responsible for setting new benchmarks in the industry with products like Fortuner, Innova and Qualis. Toyota holds 89% of the stake in the company, while the Indian counterpart, Kirloskar, owns 11%. Though there were speculations about Toyota planning to overpower Kirloskar, it was recently made it clear that it has no plans of buying Kirloskar out of the venture and increasing its stake to 100%. Toyota is happy with the long-term relationship they have and the present arrangement with Kirloskar. They have no plans of exiting the partnership but instead are focussed on retaining 100% of their customers. With many requests to bring the Lexus to India, Toyota Kirloskar Motor managing director, Naomi Ishii, feels that the Indian market has not yet grown to accept such an expensive car and therefore has no plans to bring it into India any time soon.
7th September 2015
Toyota Kirloskar Motor won the Best Energy Kaizen Award for the year 2014-15 at 25th Kaizen Conference & Competition of CII. The event is a well-renowned platform which appreciates and awards the best practices followed and encourages constant improvement in the fields of manufacturing, engineering, management and supporting business processes. 58 companies participated in the event which rewards companies for saving on energy consumption. Toyota Kirloskar’s product engineering and paint maintenance division won the award under the “Renovative” category.
Toyota Kirloskar Motor is a subsidiary under the Japanese major corporation. The company is a joint venture with Toyota Motor Corporation and the Kirloskar Group. Toyota continues to improve and develop the workplace and reduce its impact on the environment. The award was given to Toyota Kirloskar for its world class facilities, finding out the root cause of a problem, analysing and defining it, and finding innovative solutions to the problems on theme selections. Toyota was also recognised for logical reasoning, sustenance and countermeasure planning, clear presentations and good time management.
Products of Toyota Kirloskar are manufactured in India as well as imported. The Innova, Fortunate and more are made in India, where car loans are available for customers to purchase these cars. Premium cars like the Land Cruiser, Prado and Prius are imported. The Corolla, Etios, Altis, Liva, and Camry are manufactured at a plant on the outskirts of Bangalore.
7th September 2015
Though there is no news of Land Rover coming out with any sub-Evoque SUV, an automotive manipulator has rendered a digital sketch of what the cheapest Range Rover might look like. Theophilus Chin, the artist behind this, has used the Hyundai Creta to design the sub-Evoque Range Rover. The Hyundai Creta was recently launched and is in the price range of Rs.8.60 - 13.60 lakh in India. A stylish exterior and a new driving experience are reason enough to get this car, with or without a car loan.
In light of Jaguar launching the XE worldwide, which is the most efficient and advanced sports saloon car that the company has ever made, it might make sense if Land Rover would make this SUV a reality. If that happens, it will be a competitor amongst the Audi Q3, BMW X1, and Mercedes-Benz GLA Class.
4th September 2015
Honda Siel, one of the most trusted and renowned name in the SUV vehicle segment, is gearing up to announce their new offering. The year 2016 shall witness the launch of the Honda BR-V SUV. Excited to know more? Read on.
According to reports, this 7-seater Honda SUV shall feature a 1.5L 100 PS power IDtec engine, along with dual transmission – manual and CVT Automatic. On the exterior, this rugged looking SUV comes with a thick chrome strip in the front, roof rails and 16 inch alloy wheels. Close to 4.3 meters in length, the vehicle features a ground clearance of about 190 – 200 mm. The interior styling of the BR-V takes after the Honda City and shall feature a dual-tone dashboard in beige and black, along with a similar instrument cluster as the Honda City. Also, the interior comes equipped with a host of top notch safety, driving-assistance and entertainment features like dual airbags, ABS with EBD, Traction Control, Push Button Ignition, Vehicle Stability Control, Multi-mode Rear View Camera, a 7-inch touchscreen, Touch panel on the AC vents, Automatic Climate Control on the rear seat AC vents and steering mounted audio controls.
The Honda BR-V, which I expected to be priced anywhere between Rs 8 lakh to Rs 13 lakh, is likely to be launched in the Indian market by March 2016.
3rd September 2015
The new generation of the Mercedes-Benz C-Class comes in three panaches: wagon, sedan and the freshly launched coupe. These will join the bandwagon in the beginning of 2016. There will also be a fourth member, a convertible along with them. And the makers are talking about there being space for more derivatives.
One potential contender is a four-door edition of the C-Class Coupe which might end up resembling these abstract renders a lot as was explained by the freelance artist Theophilus Chin. A model of this kind would slot between the CLA and the CLS and will be rechristened as CLE before hitting the market.
28th August 2015
Maruti Suzuki India Limited (MSIL) has introduced an 'Onam' edition of the Alto 800 series in Kerala to mark the beginning of the first Malayalam month 'Chingam', when the mythical King Mahabali is believed to come to visit his subjects. The firm has already distributed over a 1000 Alto units. If you are wondering what sets these new editions apart from the old one, they come with 15 extra features at an added cost of a mere INR 17,350. No, there aren’t any drastic mechanical alterations.
As per a recent research, Kerala has always been one of the most lucrative markets for Alto and Maruti 800. The fresh structures installed in Maruti Alto 800 'Onam' Edition are music stereo with speakers, reverse parking radars, trendy seat covers with embroidered cushions and so on.
28th August 2015
With greater competition in the market for SUV models, Ford is set to relaunch its SUV- Ford Endeavour, by next year. This vehicle will be made available in two different engine options. A 2.2-litre 4-cylinder unit is assigned to the two-wheel drive version, which makes 160PS and 385Nm. This engine will have manual transmission and a 6-speed automatic. A larger 3.2-litre 5-pot unit will be assigned to the 4WD version of Ford Endeavour, and this engine is expected to produce 200PS and an astounding 470Nm. Other added physical features on this model includes chrome front grille, bigger stance and chrome garnish on the area above the registration plate (at the back).
26th August 2015
With competition in the premium hatchback segment on the rise in India, car dealers in India are vying with each other to pack the maximum number of features in every model of car they offer. Hyundai introduced Elite i20 last year loaded with button start, rear camera, keyless entry, etc. Beating that Honda Jazz came along with touchscreen infotainment and a navigation system. Hyundai hit back by launching a touchscreen infotainment system in most of its car models.
Owing to the introduction of various extra features by different car makers, Volkswagen has also announced that they would be upgrading the Polo model with new features. The Highline Polo model would get cruise control which none of the other premium hatchback segment cars carry right now. Lower models like Trendline and Comfortline will come with turn indicators. These additions will be done in the Cross Polo model too. Volkswagen is expecting sales to improve with the addition of exciting features like navigation control and touchscreen infotainment. Customers going for the all-new Volkswagen Polo car can easily avail a car loan from any bank or from Volkswagen Finance.
24th August 2015
The redecorated CR-V crossover from Honda was displayed at the Bangkok Motor Show previously this year. Projected to go through changes in exterior designs, the smart generation CR-V is expected to get generous modifications in front. The solid wings look like guardsmen on the sides. Its framework is such that the appealing head lights will feature an integrated LED during day time. There will also be prolific variations on the rear end, a redesigned tail gate and a wide chrome strip to make the rear more attractive.
19th August 2015
The opulent car manufacturer has unveiled a brand new special-edition Wraith, called as the ‘Inspired by Music’ version as the final one in the Roll-Royce series. This arresting and idiosyncratic custom-made model is a picture-perfect combination of opulence, class and efficiency. The British brand has always been presented with Rolls-Royce’s Bespoke Audio, a stereophonic that the swanky car manufacturer designates as being ‘the most thoroughly created sound system in automobile history’.
With a copper-hued exterior, the car is indisputably glitzy. It houses a 1300-Watt stereo with 18 channels and comes with two bass speakers, seven tweeters, seven medium-level speakers and two extra speakers built in the vehicle’s headlining. Sound control can be mechanically adjusted to strike out extra sounds inside.
18th August 2015
Ford India has confirmed that their first and foremost ultra-compact sedan, the Figo Aspire, will be introduced on 12 August 2015. The advanced bookings have already started at a minimal down payment of INR 30,000 at any Ford showroom across India. It will also get MyFord Dock that permits car driver to keep, support and charge cell phones and assimilate it into the vehicle’s stereos.
With umpteen first-in-class characteristics such as a 6-speed dual-clutch automated transmission, 6 airbags and many more, the Ford Figo Aspire will give a strong competition to the more popular Tata Zest, Maruti Suzuki Swift Dzire, Hyundai Xcent, Honda Amaze, and others in the arena. For your information, the Figo Aspire will be the first car in this league to provide airbags in the front seats across all modifications. It will be seen in 7 dazzling hues - Tuxedo Black, Ingot Silver, Oxford White, Deep Impact Blue, Ruby Red, Sparkling Gold, and Smoke Grey.
17th August 2015
Mercedes-Benz India had announced 2015 to be a '15-in-15' year and they have been on the go since. They have already seen launched nine makes including three in a single day this year. And the next one in line is S63 AMG sedan. It will be unveiled on 11th August and although the S63 AMG might not get many deals in India.
The AMG variety of the S-Class has a more bellicose bearing and flaunts a sporty front bumper with bigger air apertures. The back bumper comes with an ingrained diffuser with a quad exhaust system. The 20-inch wheels and jaunty color combination add to the peppy look.
16th August 2015
The Ford EcoSport has attained the 2 lakh sales landmark in local wholesales and overseas distribution together. The car made its debut at the Delhi Auto Expo 2012 and it graced in the Indian automobile market the next year. And in two years, the EcoSport has managed to achieve this task in just two years. There are more than a lakh EcoSport owners in India alone (exactly 112,000).
The EcoSport, since its take-off, has been lauded for its gripping value proposition. Ford EcoSport fashioned the compacted SUV section and rules the market due to its unparalleled value. The current milestone is yet another feather in its cap to the integral strengths of their compact SUV that goes on to set fresh standards even in a market as stimulating as this.
14th August 2015
BMW India introduced the new MINI Countryman at the starting price of INR 36.5. The new Countryman that will hit the Indian roads through the CBU route will bear a curved bonnet, reshaped hexagonal framework, enhanced ground clearance, squat projections, xenon headlights with LED fog spotlights, and 17-inch composite wheels.
The interiors is another surprise package as it comes with a marginally elevated seating position, multi-purpose Sport Leather Steering Wheel, height adaptable standard Sports Leather Seats, Radio MINI Boost CD, and an free 10 speaker 640 watt Hi-Fi Harmon Kardon music stereo. It is motorized by a 4-cylinder turbo-diesel engine and generates 112bhp and a torque up to 270Nm. It speeds up from 0-100Km/hour in 11.3 seconds on its way to a speedy 185Km/hour.
12th August 2015
With the intention of expanding their Indian market share in leaps and bounds by the year 2020, General Motors has announced that it will be investing $1 billion in India over the next few years. Mary Barra, GM Global Head, made this announcement during her recent visit to India. It is anticipated that the proposed investment, to be focused mainly on the Company’s Talegaon facility in Maharashtra, will provide approximately 12,000 jobs for the company as well as its suppliers. Through this investment, GM aims to introduce 10 brand-new vehicles into the market.
10th August 2015
Swift Dzire, one of the most popular car models offered by Maruti Suzuki, has crossed the significant milestone of selling over 1 million units. This has placed it as one among the “Elite Million Club’, among other cars like Omni, Wagon R, Maruti 800, Alto, etc. Maruti Suzuki Swift Dzire was launched in 2008 and has since seen an ever-rising demand in the Indian market. The major highlights of this model is that it is affordable, sturdy in build, has good mileage and has very low maintenance expenses. In commemoration of this latest achievement, Maruti Suzuki is launching a campaign called “The sweets are on us”. The present owners of Swift Dzire cars will get edible goodies via mail as well as receive edible art installations from malls across the country.
7th August 2015
Indian market has recently witnessed the launch of the brand new Mercedes-Benz S Coupe model cars - S500 and S63 AMG Coupe. In Delhi, the ex-showroom price of S500 Coupe is Rs 2 crore and the ex-showroom price of S63 AMG Coupe is Rs 2.6 crore. These 2 door Coupes are the latest extension of the S Coupe range of Mercedes-Benz cars. The S500 Coupe has a twin turbo V8 engine that develops 461PS of power and a torque of 700Nm. It has a 2945mm wheelbase and is t5027mm long, 1899mm wide and it’s height is 1411mm. Its AMG version, the S63 AMG Coupe, is powered by a 5.5-litre twin turbo V8 engine with 593PS of power and a torque of 900Nm.
4th August 2015
Chevrolet plans to launch 10 new cars successively in the Indian market over a period of 5 years. As the first step in this impressive strategy aimed at reviving the its presence in India, Chevrolet is set to introduce the Trailblazer SUV by October of this year and the new Spin MPV by the year 2017. The ex-showroom price of the Trailblazer is expected to range from Rs 25-30 lakh. It has also been revealed that Chevrolet will also be introducing its new Beat notchback and hatchback by 2017. 6 more products are in line for manufacture by General motors for its emerging markets like China, Brazil, India and Mexico.
4th August 2015
With Maruti Suzuki aspiring to achieve a sales target of two million units by 2020, the company has launched its premium dealership network in India. This move is also expected to give Maruti Suzuki a strong hold in the premium car market with the upcoming S-Cross and the Ciaz. This dealership network in India comes after Maruti Suzuki’s decision to meet the diversifying needs of Indian customers by offering a new dimension of hospitality experience. Nexa will offer direction and value which will help Maruti Suzuki to cater to the needs of Indian customers in terms of innovation and hospitality. Over 1000 relationship managers from sectors like aviation, financial services and hospitality have been recruited and trained by Nexa to serve Indian customers.
With Maruti Suzuki planning to open 100 dealership showrooms in the coming months, getting a car has just become easier than ever. Compare, shortlist and view all information about car loans on BankBazaar to apply for a car loan in an instant.
3rd August 2015
In a move to woo the adventurous car enthusiasts, Mahindra has given the Thar a mechanical locking rear differential along with some major cosmetic amends. Ever since the launch of the Thar, there has been two complaints from the off-roaders – the first being that it felt crude to attract a private car buyer and that it required a rear locking differential. The updated Thar, which is priced tentatively at Rs.8.03 lakh, will feature both the mechanical upgrades. Also, the Thar gets a crisp interior change – more comfortable seats, door trim, 12V charging point and an instrument cluster. On the exterior front, the new Thar will flaunt a new bumper design, clear lens headlamps and forward tilting canopy to quote a few. With a five speed manual gearbox and engine generating 247 Nm of torque and 105 PS power, the new Mahindra Thar is expected to be welcomed by all off-roaders.
Looking to buy an adventurous private car? Check out exciting car loan options on BankBazaar and also compare deals. Also, take our car loan EMI calculator for a spin to plan your budget in advance.
3rd August 2015
The new BMW X6 facelift, launched in 2015, has been introduced to the Indian market. This latest version of X6 has enhanced aesthetic changes such as well-designed headlights, bumpers with chrome highlights, dapper alloy wheels and a remarkable looking kidney grille. X6 facelift has been launched only in the xDrive40d variant in India. This has a 3.0-litre twin-turbo in-line six, diesel motor of maximum 317PS power and a peak torque of 630Nm. The xDrive40d has a top speed of 240kmph, as claimed by the company. One of the major highlights is the installation of adaptive air suspension at the rear of the car, which makes it easier to drive on Indian roads. X6 will be available in the following colors: Mineral White, Alpine White, Carbon Black, Space Grey, and Flamenco Red Brilliant Effect. Consult BankBazaar.com for the best car loan options if you are a BMW X6 aficionado.
31st July 2015
Isuzu Motor has launched the latest version of MU7 SUV at approximately Rs 23.90 lakh. India has seen a tremendous growth in demand for automatic diesel SUVs, and this has prompted Hyundai to launch Creta and Isuzu to launch the automatic variant of MU7 SUV. The MU7 has a 3.0-litre intercooled 4-cylinder unit that generates 162PS and 360Nm. MU7 automatic also has enhanced features such as new and improved music system, steering-mounted controls, satellite navigation, reverse camera synced with a touchscreen display, parking sensors, etc. There are also new and improved interior design and other additional features. MU7 SUV is currently assembled by Isuzu at the Hindustan Motors Ltd and the final product will be available for sale at the exclusive Isuzu dealerships situated across India. Interested? Keep your car loans handy.
31st July 2015
Hyundai’s upcoming SUV, Creta, is in the news, having notched up 10,000+ pre-bookings ahead of its public release next week. This five-seater has definitely captured the public’s imagination and is all set to do battle with current SUV favorites in the Indian market, including the Renault Duster and successful offerings from Mahindra & Mahindra, Tata Motors and Ford. Sporting a price tag that ranges from Rs 6.75- 15.99 lakhs, the Creta hopes to decimate the competition based on its stylish looks, unparalleled performance and its design plus development lineage that is rooted in Korea.
Does the Creta sound like your next car? Check out the best car loan options available on BankBazaar.com to fund this dream. Next, burn some rubber!!
30th July 2015
The Auto Expo 2016 will see 18 three and two wheeler manufacturers along with 22 commercial and passenger vehicles. The flagship automobile show will be held at Greater Noida and will be organised by Society for Automobile Manufacturers (SIAM) and CII. The total area allotted for this exhibition is 50000 sqm, which is 20% more than the area that was required in Auto Expo, 2014.
Both foreign and Indian automobile manufacturers will get immense scope to display their latest products in this exhibition. The latest two wheeler, concept cars, SUVs, commercial vehicles, etc. will all get a global platform to showcase their advanced technology. Insurance companies, Tyre companies, financial institutions, etc. will also take part in the upcoming Auto Expo, apart from the renowned automobile companies.
30th July 2015
Fiat India is about to commence its new leg of operations with the launch of its highly successful brand Abarth in India on August 4, 2015. The Italian manufacturer had announced in May that the first model in this line will be the Fiat 500 Abarth 595 Competizione. The model upholds the Italian design which is a classic and is well loved. There will also be an option for 5-speed manual transmission. The Abarth 595 hatchback series represents the apple of Fiat S.p.A’s eyes and is already being sold in few markets across the world. In India it is anticipated to rival the Mini Cooper S. Rumour has it that the car will be launched with a petrol engine that matches the one churning power in the model sold in the UK market. Features like comfort, braking, safety and suspension mechanism seems to be similar to the model from the UK market. To buy your very own Fiat Abarth 595, look out for the best car loan on a third party loan comparison website, like BankBazaar.com.
28th July 2015
Ford Figo, expected to be launched in August, will compete against other popular cars in the compact sedan category like the Honda Amaze, the Tata Zest and Maruti Suzuki Swift Dzire. Ford Figo sports a grille adorned in chrome, inspired by the Aston Martin. The simple yet very elegant design also features a large chrome strip on the boot lid, 14-inch alloy wheels and the layered bumper combination. The Aspire’s dashboard will flaunt infotainment screens, audio & telephone controls and also media control buttons.
On the engine side, Ford Figo will get a 1.5 litre turbocharged diesel engine and a 1.2 litre petrol engine making 204 Nm and 102 Nm of peak torque respectively. The good news is that Ford is planning to price the Figo competitively to make waves in the already booming compact sedan category.
Want to own the new Ford Figo? Check out various car loan options on BankBazaar, compare loan deals and also apply for one instantly. To plan your finances in advance, you can make use of the car loan EMI calculator
28th July 2015
One of the most awaited cars of the year, Hyundai Creta is all set to make a huge launch and compete against the likes of Ford Ecosport, the Nissan Terrano and the Renault Duster in the compact SUV segment. Creta sports a lot of funky features like three-slat front grille, LED Daytime Running Lamps, wraparound taillights and a spoiler with integrated brake lights. On the interior front, Hyundai SUV will feature a set of crisp interiors like in the elite i20. Hyundai Creta is likely to get the same engine as in Hyundai Verna which will be powered by a 1.6 litre petrol mill pumping 123 PS power and 155 Nm of torque. The petrol variant will come with a 5-speed manual gearbox while the diesel one will be mated to a 6-speed one. Hyundai Creta is expected to be launched in the coming festive season and will tentatively be priced at Rs.9 lakh.
Waiting to pre-book your dream car? Check out various car loan options from BankBazaar and easily apply for one. Also, take our proprietary car loan EMI calculator for a spin to plan your finances in advance.
27th July 2015
Maserati, the Italian car company has announced that they will relaunch their operations in India, in July. The Ahmedabad-based Galaxy group will be opening the first Maserati dealership in India, in the city of Mumbai. It is very much plausible that the Italian car company would launch the GranCabrio, GranTurismo and Quattroporte models first. Both GranCabrio and GranTurismo will have 4.7 or 4.2 litre V8 engines. However, the Quattroporte will be endowed with a 3 litre V6 engine. Both petrol and diesel versions of the model will be available in the Indian market.
The Ghibli Sports sedan is also likely to be launched and it comes with and 3 litre twin turbo V6 engine generating a torque of 500Nm. The top speed of the Ghibli is 263 kmph. If you are planning to buy any of these cars, it is advisable that you opt for a car loan which provides you with the upfront money to buy the car.
27th July 2015
Mahindra is giving its celebrated off-roader make, the Thar, a dramatic cosmetic change this July, which entails a brand new interior and a few updates on the exterior. The automobile company has announced that a Fresh New Thar is all set to enter the market on July 22.
Exterior updates consist of a plastic-metal front bumper, bigger foot rests and broader fire screen. The most conspicuous improvement however would be the soft roof cover, now slanted forward. This will be a huge transformation for those who are used to the Thar’s earlier rugged image. The Mahindra Thar at present sells between INR 5.04 lakh and INR 7.74 lakh (ex-showroom price in Delhi).
23rd July 2015
The newest addition in the compact sedan segment, Ford Figo Aspire, will go up against stiff competition from other established players like Hyundai Xcent, Honda Amaze and Tata Bolt. The Ford Figo Aspire will be available in four different types – Ambiente, Trend, Titanium and Titanium+. The Ambiente model will be available with 1.2 litre petrol and 1.5 litre diesel engines with a manual gearbox. Figo Trend will also be available with same engines and manual gearbox. In addition to the features in Ambiente, Trend will flaunt front and rear fog lamps, inbuilt infotainment systems, Bluetooth, electronically adjustable ORVM.
The Ford Figo Aspire Titanium will feature a 1.5 litre petrol automatic engine in addition to the other options. The only version with all three engine options, Titanium also will feature a perimeter alarm, climate control with safety aids and 14-inch alloy wheels. Titanium+, the highest variant in this range, offers additional features over Titanium. Ford SYNC, AppLink control, Infotainment screen, leather interior and airbags will definitely delight the buyer.
Ford Figo is expected to be priced between Rs.5.5 to 8.5 lakhs. Get ahead of the line, book your dream car now without worrying about the financials. Compare and apply for car loans on BankBazaar and also use the car loan EMI calculator to plan your budget.
23rd July 2015
Touted to go on sale from next month, Ford India has revealed the features and technical specifications of its upcoming compact sedan, the Figo Aspire. The design and technical aspects will be based on the second generation Figo, the hatchback from this American car maker.
To be available in 3- engine options, the Figo Aspire will come with a 6 speed dual clutch automatic gear system, making it the first of its kind in the segment. The aspire gets dual airbags in the front while the top variant will be fitted with 6 airbags. When launched, this model is likely to give some tough competition to the segment flag bearers such as Swift Dzire and Honda Amaze.
20th July 2015
Select spy images of BMW X6 M and BMW X5 M have hit the shorelines of India. The brand new BMW X6 M and X5 M are ready for launch before the end of month. These blood-brother cars are most likely to hit the market together. The rumors regarding X5 M is yet to be confirmed by the stakeholders, but this is also expected to be unveiled this year.
Both BMW X6 M and X5 M are motorized by an advanced V8 unit with M TwinPower Turbo machinery that pumps out 583 PS and an immense torque of 750 Nm. Both prototypes have Drivelogic as a standard feature and are fortified with an eight-speed Steptronic transmission. Boasting of a dizzying speed from zero to 100 km/h in 4.2 seconds, gearheads across the country are eagerly waiting for its on-road appearance.
20th July 2015
The Toyota Fortuner is a new generation car that will be unveiled globally in Thailand on 17 July, 2015. This new vehicle from Toyota will feature innovative exterior design, updated interior cabin and a new chassis among other features. The 2016 model of the Toyota Fortuner will be launched in India in 2016, along with a new generation enhanced Toyota Innova. Five different variants of this vehicle will be launched in Thailand, including a petrol-based variant, which will not be available to customers in India. The names of the different variants suggest that the vehicle will be equipped with 6-speed gearbox (automatic), 6-speed manual transmission and a 4X4 drive system.
This car from Toyota will surely be a tough competitor to similar cars from other automakers. Most banks and financial institutions are likely to offer car loans to customers who want to purchase this vehicle when it is launched in the country.
17th July 2015
Volvo, the Swedish car maker has launched the petrol variant of the S60 Saloon model in India, that will be available at all Volvo dealerships in the country. Built in India, the S60 T6 will be priced at Rs.42 lakhs(Ex-showroom, Delhi) and will be the flag bearer for the entire Volvo S60 range.
This car follows a series of back to back launches from Volvo which includes XC90 & V40 Cross Country Petrol. The S60 T6 will be mounted with a 2.0 Litre, turbocharged engine with a peak torque of 400Nm and a maximum power of 306 bhp. Complimenting this displacement will be an 8-speed automatic transmission which helps the T60 in crossing 100kmph in just 5.90 secs with a top speed of 230Kmph. This fuel efficient saloon delivers an impressive 15.6kmpl (ARAI Certified).
16th July 2015
Mercedes, the luxury car manufacturer, has announced that it will launch 4 new SUVs in the next 1 year. The German car maker has been involved in intense competition with fellow luxury automaker Audi, to become the number one luxury car manufacturer in India. With the launch of these new cars, the company hopes to aggressively acquire the top slot and become the market leader in the country.
These new launches from Mercedes will include both new and facelift editions of earlier cars and will offer a variety of enhanced features to the customers. Over the last few years, Mercedes has been able to expand its business in India at an exponential rate due to initiatives such as addition of new dealers, product expansion and so on. Many lenders in the country now offer car loans to customers looking to purchase Mercedes cars, adding to the growth of the company in India.
16th July 2015
Top car makers in the country fell short of achieving the targeted numbers in June owing partly to pushing up dispatches in the same month last year to benefit from excise incentives. Sales during the month of June for most car manufacturers remained dismal. Most of them posted marginal growth and for some it even went down negatively. However, car makers are optimistic about sales in the next couple of months, cashing on newer models lined up for release.
Leading the pack of dull sales were Maruti Suzuki followed by Hyundai and others. Many players such as Mahindra and Toyota failed to match the numbers recorded in the same month last year. Surprisingly, tier 2 car manufacturers such as Tata & Honda posted impressive unit sales across categories. Foreign car makers such as Nissan and GM witnessed substantial fall in sales during the month of June 2015.
14th July 2015
One of the hottest sellers in the premium SUV segment, the new Toyota Fortuner will be assembled with CKD kits made in Thailand at Toyota’s production facility in Bidadi, Karnataka. Rumored to make its debut in India during the first half of 2016, the next gen Fortuner is scheduled to make its world premiere on July 17, 2015 in Thailand.
Leaked images online hint at considerable overhaul in the design and structure. Changes in the powertrain is also expected by means of a 2.8L, 4-pot diesel motor with maximum power of 177bhp with a peak torque of 420Nm. Not much variation is expected in the pricing though.
14th July 2015
Posted on 9th July 2015
Volvo India is going to re-launch its luxury sedan S60 on 3 July, 2015. This launch will highlight a petrol-only version of the vehicle which will feature a 4-cylinder, direct-injected and turbocharged motor. The S60 will come with a 2-litre engine and a motor with output of 306 hp and maximum 400 Nm of torque. This vehicle will be quite similar to the already available diesel versions of Volvo S60.
The auto giant Volvo was not very active in the country past year but this year the company has already launched three cars so far, namely the V40 hatch, new XC90 and V40 Cross-Country T4. The S60 will be the fourth car launched by Volvo India in 2015.
With a decrease in the lending rate of car loans, this might be the right time to apply for a car loan and own this magnificent car from Volvo.
Posted on 9th July 2015
A new Mercedes-Benz Research and Development Centre opened in Pune, India, and was inaugurated at the Embassy Tech Zone in SEZ in Hinjewadi. This new R&D facility follows its expansion of the Pune production facility just last month. Mercedes had also just revealed the new GLE Class SUV in Pune starting at Rs. 31.3 lakh (ex-showroom price). The car loan sector may see more business as Mercedes Benz will be launching the GLC class and the GLE class in India this year.
Mercedes-Benz Research and Development India (MBRDI) was founded in 1966 and headquartered in Bangalore. The new R&D centre in Pune spans 46,000 square feet with a large capacity of over 400 people making MBRDI one of the largest R&D facilities of Daimler outside Germany.
Thomas Merker, Chairman of MBRDI, stated that MBRDI plays an important role within the global research and development organization. He said the new facility in Pune marks another milestone and allows them to expand while still being close to both the Mercedes-Benz plant and their relevant automotive suppliers. He also said India is a strategic location as an emerging market for the competent talent pool and global supplier network.
Posted on 6th July 2015
Cholamandalam Investment and Finance Company Limited or Chola as popularly known, will be offering car loans to drivers on the Ola platform to boost entrepreneurial spirit among the driver community. Under the Pragati scheme promulgated by Ola, loans will be offered on a daily repayment basis.
This scheme syncs with the drivers’ revenue model, who earn on a daily basis as they would have the comfort of paying off the loan as a daily expense. The scheme has helped over 15,000 drivers across the country to become self sufficient. This tie up with Chola enables drivers to procure a car at competitive rates and terms. It also extends the benefit of easy documentation and quick approvals. The daily repayment option equips drivers with financial discipline, helping them scale up in life.
Posted on 2nd July 2015
Maruti Suzuki is working on the ambitious Swift Range Extender project, an hybrid car which is expected to provide an impressive mileage of 48.2kmpl. This hybrid car is mounted with a 650cc internal combustion petrol engine along and an electric motor, capable of generating 5kw of electric power. Hybrid, Parallel Hybrid and Electric are the three driving modes available in this car.
This car is being designed under the FAME(Faster Adoption and Manufacturing of Hybrid and Electric vehicles) scheme from the Government of India that provides sops and incentives to manufacturers adopting greener technologies. It must be noted that there are not many hybrid cars in the country. At present, there are just a handful of cars such as Reva e20 and Toyota Camry which come with eco friendly technology.
Posted on 2nd July 2015
Suzuki Motor Corporation and Malaysian automobile manufacturer Proton have entered into a new deal which will facilitate the assembly and sale of an entry-level car model. It is also predicted by experts that this deal will help Maruti fill the void which was created after the discontinuation of A-Star. As per the deal, Suzuki will source Completely Knocked Down (CKD) kits of cars to Proton.
The first model to be manufactured according to the MoU will be a compact passenger car to be assembled by Malaysia’s first carmaker, Proton. Like the arrangement between Suzuki and Nissan Motor which helped Maruti Suzuki to increase its exports by 50,000 units a year, this deal is also expected to provide an instant access to another powerful export market.
With a lot of unique car models set to take the automobile market by storm, you can also own an automobile now. Conveniently fund your car purchase with various loan options from BankBazaar.com.
Posted on 30th June 2015
Jaguar has revealed the all-aluminium luxury car, the XJ. Subtle exterior design changes has been made to the already existing XJ model and the enhanced InControl Touch Pro system offers features like door-to-door navigation, 1300 W Meridian Digital Reference Audio and Wi-Fi.
The flagship saloon also comes with a powerful V6 engine and a steering system that is electric power-assisted to deliver more power, torque and reduced fuel consumption. With a superior infotainment system, interior finishes, lower emission diesel engine and higher performance, the new XJ will delight drivers and passengers equally.
Other prime features include J-signature tail, LED headlights, upright grille, high-beam assist and static bend lamp. The Jaguar XJ range will also include XJ Luxury, XJ Portfolio, XJ Premium Luxury, XJR, XJR-Sport and XJ Autobiography.
Your dreams of owning a Jaguar can be turned into a reality with BankBazaar. Check out various loan options and compare car loan schemes to fund your automobile purchase without any hassles!
Posted on 26th June 2015
In continuation with its effort to rev up its portfolio of car offering in the country, Audi India has launched a rejuvenated version of the Q3. The car comes with major cosmetic changes which includes an all wheel drive, LED headlights embedded with dynamic turn indicators and paddle shifters mounted on the steering.
The new Q3 is pegged to compete with Mercedes GLA and BMW X1 in the segment. On the powertrain front, it comes in 2.0-litre petrol and a 2.0-litre diesel producing a power of 174bhp and a maximum torque of 380Nm. The transmissions on the offer are a six-speed manual and seven-speed dual-clutch automatic S-tronic. This bestseller for Audi is sure to win some more hearts in the country with the facelift version.
If you’re contemplating on buying the Audi Q3 or any of the other models, financing it by means of a car loan is sure to help you in balancing monthly budget. Compare loan offers by various banks on BankBazaar.com and apply instantly.
Posted on 25th June 2015
The car loan market is seeing a paradigm shift in terms of the schemes offered by banks and financial institutions which extend flexible payment options coupled with economical rates. HDFC and Tata have been at the forefront of this innovation with the Top up loan and Balloon scheme respectively.
The top up loan offer from HDFC lets you have additional cash against your car. This option forecloses existing car loan by offsetting the balance with the approved top up loan amount. The customer can now start paying fresh EMIs.
On the other hand, Tata Balloon Scheme is a tailor-made new car loan scheme for customers who are willing to repay the loan in substantially higher amount for one EMI and the rest in balanced monthly installments. The formats available under this scheme are 11-1 and 1-11 where the customer agrees to pay 1 installment (at the beginning or end of tenure) of a large amount and the rest in equated monthly installments.
These schemes help in saving costs when compared to funding the car purchase by means of a Personal Loan.
Posted on 10th June 2015
German automaker Audi launched the RS 6 Avant on 04.06.2015, its fourth release in the sports car segment. During the course of 2015, this luxury car manufacturer has put in motion the Audi R8 LMX, TT Coupe and RS 7 Sportback in sync with the fast growing market for luxury cars in India.
Priced at Rs.1.35 crore (ex-showroom Delhi), the RS 6 can accelerate from 0 to 100 km in just 3.9 seconds clocking a top speed of 305 kmph. Following suit this year will be 10 more launches from Audi catering to the growing needs of the discerning Indian buyer. Audi in India is facing stiff competition from the likes of Mercedes Benz and BMW.
Audi has seen a significant growth of 11%(YoY) when it closed books in March this year. It sold 11,292 units in FY 2014-15 and sealed its position as the numero uno in the Indian luxury car market.
Posted on 4th June 2015
When it was launched in India the first time, the universally popular Volkswagen Beetle turned into a dud. Poor sales hurt this iconic hatchback and its expected triumph was curtailed. However, Volkswagen isn’t the one to give up easily and is hoping to make a better impact in India with the next-gen Beetle. An important part of Volkswagen’s plans to launch 5 cars within 2 years in India, the updated Beetle sports a 1.4 litre TSI variant engine that is expected to add a decisive vrooom to its unquestionable aura. Definitely a high end offering, pricing starts at Rs. 25 lakhs. But, with a plethora of car loan offerings in the market, improved buying power of the fast moving Indian middle class and that distinct Beetle brand name, the price is definitely not a problem.
Posted on 4th June 2015
The Ford Figo is a delightful and popular hatchback, the forthcoming Ford Figo Aspire is its big brother in the equally competitive compact sedan segment. The Ford Motor Company is on the upswing in India, with popular offerings like the aforementioned Figo and the Ecosport. With a launch like the Ford Figo Aspire, the company is hoping to make a dent in the extremely competitive compact sedan category that is populated by the likes of the Honda Amaze, Tata Zest, Hyundai Xcent and the Maruti Suzuki Swift Dzire. Promising delightful looks and powerful performance, the Aspire will likely be priced between Rs.5-8 lakhs and be available in a few months time. Looking for a good car loan to be prepared for when the Aspire hits Indian shores? Check out BankBazaar.com.
Posted on 2nd June 2015
Celerio, Maruti Suzuki’s successful hatchback, is set to roll out a diesel variant. The car is set to feature a small 800cc 3-cylinder turbocharged diesel engine that spurts out 50PS of peak power, under a choice of either manual or automatic transmission. Maruti Suzuki is planning to launch this variant on June 3 and promises that the car will cost just a miniscule bit more than the popular petrol version. For those checking out possible car loan options, the car is likely to cost around Rs.5 lakhs, and is likely to spawn a lot waiting line of expectant buyers.
Posted on 28th May 2015
The country’s top car maker has opened its first showroom in Dwarka, New Delhi dedicated to its offerings in the premium car segment. At present, this dealership houses Ciaz, the sedan class car which will soon be joined by the likes of upcoming crossover S-Cross/Across followed by the premium YRA hatchback later this year.
Christened as Nexa, Maruti Suzuki plans to ramp up the premium dealership network by openings showrooms in major cities across the country. This network is aimed at helping it shed the popular perception about Maruti as a budget segment car maker and to provide a premium buying experience to the affluent buyers. Nexa will serve as a home for the upcoming premium segment models of this Indo - Japanese car maker.
Posted on 28th May 2015
The XUV 500 was introduced by Mahindra in 2011. However, the company has not upgraded the vehicle since then. Now, it is expected that the company might launch an upgraded version of this popular SUV on 25 May, 2015. The report is not yet confirmed and the date is tentative at best but car enthusiasts are eagerly waiting for this launch. Spy shots of the new version of XUV 500 have been circulated across social networking platforms for a while.
It is expected to include a 4 cylinder, 2.2 litre oil burner with a power output of 140PS and torque of 330Nm. Analysts are of the opinion that the launch of the refreshed XUV 50 might help in improving the sales of this popular XUV from Mahindra.
Posted on 22nd May 2015
Cars that move on air and gust out water vapor as emission? This is not some science fiction. Indian scientists state that solar power can be combined with special instruments called fuel cells to produce unpolluted energy.
At a time when carbon dioxide exhaustions from automobiles have come under the radar for grave environmental issues, fuel cells are being viewed as favorable substitutes to fossil fuels. What is more, fuel cell cars are a reality now. In November 2014, Toyota launched the Mirai, one of the first hydrogen fuel-cell cars. Honda too flaunted its glossy eco-friendly car designed on the same theory. Eco warriors in India, it won’t be long before you search BankBazaar.com for a car loan that will help you get one for your own, patience!!
Of course fossil fuel has some disadvantages- the main one is that it produces greenhouse gas like carbon dioxide. And the unfinished ignition leads to emission of lethal toxin like carbon monoxide. But in a fuel cell, hydrogen mixes with oxygen to generate power, heat, and liquid, making it ecological. Owing to the storing and security issues of hydrogen, the current focus is to use hydrogen peroxide as the basis.
Posted on 22nd May 2015
Mercedes-Benz India evened out the locally produced brand new C 220 CDI from its industrial facility in Chakan in Pune. This is just three months after it was debuted in India. The cost of this fully ‘made-in-India’ Mercedes-Benz C-Class begins at INR. 37.90 lakhs and it has already amplified the localization content in the latest C 220 CDI to 60 percent.
Mercedes-Benz C-Class Diesel Showroom Price (Delhi):
i. C 220 CDI Style: INR. 37.90 lakh
ii.C 220 CDI Avantgarde: INR. 39.90 lakhs
As an out and out champion of the World Car of the Year Award (2014), the C-Class manufactured in India will be powered by the 2.2-litre 4-cylinder diesel engine that gets up a torque of 170bhp and 400Nm. It can fast-track from 0 - 100Km/h in a sheer 7.4 seconds on its way to a high-speed of 233Km/h. The cherry on top is that it is also the most fuel-effective car in its class with a mileage of 19.27Km/l. Hopefuls, keep that car loan handy- the fully desi Mercedes Benz is here to rock your world.
Posted on 20th May 2015
Honda Cars India has formally declared the unveiling of the glitzy new-generation Honda Jazz in July 2015. They uploaded an attention-grabbing teaser image of the Jazz on the automobile company’s social media portals with a caption that “All new Jazz coming in July”. Its cost will probably vary between INR. 4.7 lakhs and INR. 8 lakhs, all ready to give full on competition to the likes of Maruti Suzuki Swift and Hyundai i20.
Though the earlier avatar of the Jazz proved to be a disaster in the market, it is now back with a bang, complete with a spectacular design plus a diesel powertrain. The options available on engine are 1.2 litre i-VTEC petrol and 1.5-litre i-DTEC. People lining up to purchase cars this season now have one more name to add to their shortlist- Honda Jazz. Plus, attractive car loans from leading banks are available, as and when you think of jazzing it up with the Jazz.
Posted on 14th May 2015
Renault, the French car maker is all set to unveil its latest offering in the hatchback segment, a small car codenamed XBA which seems to have struck the right note in the media. Scheduled for a launch on May 20, this small car is expected to compete with low on budget cars from the likes of Maruti Suzuki and Hyundai. This segment is currently dominated by models like Alto, Ritz, Eon and others.
The XBA will be based on the Common Module Family (CMF) platform which has proven its mettle with the Datsun series. Pegged to be priced under Rs.4 lacs, this model will be offered in four different variants mounted with a 800cc petrol engine and is likely to be assembled at Renault-Nissan Oragadam unit in Chennai.
If you’re keenly looking forward to purchasing the XBA, a car loan provides you the required financial impetus.
Posted on 14th May 2015
In what might be compared to the phrase ‘fall from glory’, Tata Motors is putting every ounce of effort to revive its star. The Nano GenX, set to be launched on May 19, is the first major overhaul of the Tata Nano since its launch in 2009. Targeted at customers looking for economic conveyance solutions, the Nano GenX has undergone a complete overhaul in terms of mechanics and aesthetics. The interiors and exteriors have been re-styled for a trendy look while the vehicle features new Automated Manual Transmission (AMT) gearbox technology, making it the cheapest automatic transmission enabled vehicle in the country.
With other Tata Motor launches like the Zest and Bolt performing well in the market, Tata Motors now banks on the Nano GenX to continue its lucky streak. Customers looking to purchase the Nano GenX can do so with the help of a car loan, which is one of the most advisable options.
Posted on 12th May 2015
Ford, a well-known American automobile company, is all-set to launch their new-generation Ford Endeavour followed by the all-new Ford Figo Aspire, this year. The next-generation Ford Figo hatchback is also lined up for launch by the end of the current fiscal year. Ford started the production of their next-generation Figo since February 2015 at their manufacturing unit in Gujarat. With an integrated spoiler, swept back headlamps, trapezoidal honeycomb grille and a stumpy boot lid, the new Figo will share some of the features with the upcoming Aspire. The next-generation Figo will have the same engine as that of its predecessor but will flaunt new peripherals and cylinder head. This car will definitely be a tough competition for Maruti Suzuki Swift, Hyundai i10 Grand and Tata Bolt. With banks providing car loans at easy-to-pay interest rates, you can definitely go ahead and afford this car. The car loan provides you with the upfront amount you need to get this dream car.
Posted on 7th May 2015
A height of 6 feet and 6 inches with a weight of 300 pounds makes Daniel Farnes, Finance Manager of Planet Hyundai Sahara, a pretty big man. But he fits comfortably inside 2014 Sonata GLS. There was a time when he used his size fitting easily inside Hyundais as a selling idea. He added that the trunk was big enough by mentioning that he could easily crawl into it. The Hyundai Sonata was specially designed to offer more space and comfort.
May it be the interiors or the performance, every Hyundai is a class above. A brand new Hyundai comes with a 10 year long warranty including complimentary roadside assistance. And, with car loans very easy to come by, you can get your very own Sonata too.
Posted on 4th May 2015
Tata Motors has decided to reward its existing Nano customers, by offering them the chance to be among the first owners of the new Nano GenX. The company has launched an exclusive campaign called ‘Power of 1+1’ programme for the existing customers. The new GenX Nano will come with Automated Manual Transmission or Easy Shift. Through the Power of 1+1 programme, the existing Nano customers will get Rs 20,000 as special bonus and will also be offered with the best price possible for their old Nano cars. Apart from that, they can also take advantage of a referral programme wherein they will be given Rs 5,000 as a cash prize for each person they refer.
In order to make it convenient for the existing Nano customers to purchase the new Nano Genx, Tata Motors has tied-up with various financial institutions to offer them with car loans at attractive interest rates. Looks like it’s the right time to go Nano!!
Posted on 2nd May 2015
Car enthusiasts in India have something to cheer about. Volvo India, the automobile giant, has preponed the launch of the new Volvo XC90 to May. Volvo was supposed to launch this highly anticipated car in September but the company decided to prepone the launch due to high demand. Two variants of the Volvo XC90, the Inscription and Momentum, will be available in India. The Volvo XC90 will feature very elegant interiors with only a few buttons and a 9-inch touchscreen.
Both the variants of the XC90 will be powered by a new turbocharged D5 4-cylinder diesel motor with a max power of 228PS. The car might also be available with a T8 petrol engine along with another four-seater variant. This car from Volvo will be a direct competition to the Audi Q7, Mercedes-Benz GL Class and BMW X5. The Volvo XC90 will most likely have a price tag of Rs 65 - 70 lakhs in India. When it does release in India, the string of versatile, customer centric and easily available car loans should come in handy.
Posted on 28th April 2015
The iconic Jaguar automobile company is bringing forth the much anticipated Jaguar XE, with production commencing in full flow at JLR’s brand new Solihull factory in the UK. This high end car is expected to be available in India by the end of 2015 or the first quarter of 2016. Expected to compete against the likes of BMW 3 Series, Audi A4 and the rest of the trendsetters, the Jaguar XE will be produced in both the petrol and diesel versions.
And, this is good news for the auto-freak Indian, as a plethora of car loan options are available across comparison websites such as BankBazaar.com. Get set, source the car loan, and burn some rubber with the Jaguar XE.
Posted on 27th April 2015
Fiat Linea, an admired name in the Indian automotive scene, is getting a fresh breath of life. The next generation Linea is undergoing secret testing in Italy, and preliminary estimates predict that this upgraded model will hit Indian shores in late 2016 or the first quarter of 2017. Fiat Linea has been a preferred choice amongst Indian car buyers since 2014, and was slightly modified from its original brethren (launched in 2007) to suit Indian conditions. It is expected that the next gen Linea, currently under wraps, will also be suitably modified to better deal with Indian conditions and sensibilities.
And, when the brand new Linea does hit the Indian roads, a suitable car loan will help you get one for your own self. With car loan comparison websites like BankBazaar.com, finding the perfect loan is that much easier.
Posted on 27th April 2015
The global automotive icon, Audi, considers India a very promising market when it comes to its urbane line of high-end vehicles. In this regard, the launch of the peppy 2015 Audi A3 Convertible adds another potent performer in its stable of luxury vehicles offered in India. Priced at just over Rupees 50 lakhs, the car is a dream machine on wheels. With top end configurations under the hood, plush interiors, the option to turn convertible and the aura that comes with the Audi tag, the A3 is expected to earn top billings in India. And, with readily available car loan options, and online comparison websites that help you zero in on the best car loans, you don’t have to be just a bystander as the A3 zooms past you, go ahead, get your own!
Posted on 22nd April 2015
The National Green Tribunal (NGT) is all set to ban vehicles that operate on diesel fuel and have been playing on Delhi’s roads for over 10 years. This move is aimed at addressing the incrementing air pollution levels in the capital city and is likely to prompt evasive and alternative action from the common populace. While the impact on the sale of new diesel vehicles is pretty obvious, the cascading effect will also engulf second-hand vehicles- prompting steep price cuts among other things and also potentially, impacting the evergreen spheres of car loans and second hand car loans. The NGT advises that replacing your vehicle’s diesel engine with the more efficient and less polluting CNG engines is the ideal way to go. However, with costs of such replacements peaking at 30,000-50,000 Rupees, will there be many takers for this flash solution? Only time will tell.
Posted on 20th April 2015
Car manufacturers in India are unhappy on the quantum of reduction in base lending rates by leading banks in the country. They are of the opinion that banks need to do more to pass on full benefits of the recent repo rate cuts by the country’s apex bank. A cartel led by Maruti Suzuki is pressing for cut in car loan interest rates by at least 50 basis points with a belief it will improve car sales in the country.
Earlier this week, the governor of RBI came down heavily on banks for not passing the perks of repo rate cuts to consumers. Reacting swiftly to the governor’s directive was State Bank of India (SBI) which cut its base lending rate by 0.15 percentage points. HDFC & ICICI followed suit by announcing cuts of 0.15 and 0.25 percentage points respectively. Car makers see this as an optimistic move but are asking for more to improve consumer sentiments in the car finance segment.
Posted on 7th April 2015
Maruti Suzuki, India’s biggest car maker is leaving no stones unturned in ensuring its upcoming compact SUV hits the right note when it is showcased at the Auto Expo early in 2016. The YBA spotted in testing phase looks promising and is based on the Swift platform. Maruti Suzuki seems to have taken a cue from the success story of the Ford Ecosport by building a car in the budding Compact SUV segment.
Slated for a 2016 launch, the YBA will have variants in both Petrol and Diesel.The YBA is likely to be fitted with the 1.4-litre K14B petrol unit at 95PS and 130Nm of torque. The Diesel version will come with a 1.3-litre DDiS engine at 90PS and 200Nm. By the looks of it, the car’s design is largely based on Suzuki iV-4 concept.
Car loans fuel your dreams of owning a car. It is important to compare rates and terms online before choosing a bank to fund the car purchase that ensures that you get the best deal.
Posted on 7th April 2015
Ola Cabs, India’s leading cab aggregator, unveiled a path breaking car finance scheme with State Bank Of India which lets drivers affiliated with Ola service procure cars at attractive terms. This exclusive project is aimed at promoting self sustenance and entrepreneurship among the driver community.
Under this arrangement, associated Ola drivers are eligible for a fast track car loan from SBI at a down payment of 10% coupled with simple documentation. Unlike the conventional EMI based monthly repayment system, repayment under ‘Ola Pragati’ is based on the concept of daily debit which will benefit the driver in terms of repayment of loan like a daily expense. The primary motive of this collaboration is to nurture thousands of drivers in fulfilling their self employment aspirations.
Over 70% of drivers running on the Ola platform operate their own cars, thanks to similar efforts by this cab aggregator in the recent past.
Posted on 1st April 2015
With more and more women continuing to work post-marriage, the trend of applying for joint loan has gained momentum. Be it a car loan or home loan, a working couple applying for a joint loan get more benefits. One of them being the eligibility for a higher loan amount, in comparison to applying for a loan individually.
Apart from the salary, the bank approving the loan also takes into account the applicant’s credit profile and debt-to-income ratio. If one spouse doesn’t fulfil anyone of the criteria then the loan application can be rejected. Also, if any one of the spouses fails to pay his/her share of the EMI, under a joint loan, it could mean trouble for both.
Posted on 27th March 2015
Skoda’s Indian model line-up is getting a new twist. A new variant, called the Zeal Edition has been introduced. The cars under this edition will be characterised by black leather and alcantara upholstery. These cars, marked with unique interiors, will be available in addition to the Skoda cars already plying across Indian roads.
The Yeti, Octavia and Superb will feature black alcantara and leather seats, a black dashboard and black door trims. The Rapid Zeal Edition will be revamped with alcantara and leatherette seats, rear parktronics, observation mirror and floor textile mats. The good news for car lovers is that this edition also features a Garmin navigation device with rear view camera. Available for a limited period, the Rapid with its new features is quite tempting while the Zeal edition can be pitched on the same level as City and Ciaz.
Posted on 25th March 2015
Renault Duster was a runaway success when it was released in 2012 receiving over 29 awards since its launch. Now, Renault Duster 2015 model is all set to rock the automobile market with updated features like monocoque construction and Eco Mode. The new interior updates include cruise control, speed limiter and new upholstery that will give the SUV a fresher look. The updated Renault Duster will come in both petrol and diesel variants and will operate in Eco mode that is said to improve the fuel efficiency by up to 10%. The all-new Renault Duster will compete with other SUVs like Tata Safari Storme and Mahindra Scorpio.
With automobile manufacturers coming up with new car launches, buying a car for yourself need not be only a dream. Compare and choose the best car loan deals in the market using BankBazaar.com. Also, give the car loan EMI calculator a try to plan your finances suitably.
Posted on 25th March 2015
General Motors has finally launched its much-awaited SUV, Chevrolet Captiva in India. The 2015 Chevrolet Captiva costs Rs.25.13 lakh for the manual transmission model and Rs.27.36 lakh for the automatic transmission type. The all-new Chevrolet Captiva comes with a lot of stellar features, the main one being the “Cluster Ionizer” concept. The Cluster Ionizer will generate ions to deodorize and automatically purify the car interiors.
With jet-black interiors, Captiva is also equipped with third-row heating, electric parking brake, rain sensing wipers and sunroof. Loaded with six airbags, assist-equipped brake discs and traction control system, Captiva will make your ride safer. Powered by a 202-litre motor at 3800 rpm and 400 Nm of torque, the SUV offers flexi seating arrangement for 5+2 passengers.
With banks offering exclusive car loans for SUVs, you can also own a Captiva now. Also, check BankBazaar.com for customized car loan offers and try the car loan EMI calculator to plan your finances in advance.
Posted on 23rd March 2015
App-based cab companies have become household names in a short spell, thanks to their quick and impeccable service as well as reasonable fares. An innovative business model is designed to bring car drivers, investors and cab companies to an integrated platform- driver-cum-entrepreneur model. Service companies assist individuals to avail easy auto loan with nominal interest and flexible tenures on the condition that they work for the company. This is a win-win-win situation for everyone involved in all aspects.
Renowned companies such as Uber, Ola and Meru follow this model and continue to reap heaps of benefits. Unlike regular vehicle loans, applications referred by cab companies cover 90 percent of the road price of the car. Hence people from poor economic background who usually do not have any savings can easily become car owners and easily pay back the loan from the income made out of it.
Posted on 17th March 2015
Honda has paraded the brand new Jazz at the Geneva Motor Display, which is one of the most awaited inaugurations of the year. Honda presented the Jazz in the Japanese Domestic Market (JDM) at the end of 2013 and there were assumptions that it would be promoted in India the following year. Nevertheless, the humungous H has awaited this vehicle and it became their first launch in India this year.
The new Jazz is constructed on the similar light and unyielding stand as the forthcoming HR-V. It is longer than its precursor by 95mm as well with an extended wheelbase. This makes it even roomier than the existing model. Moreover it has a 354 liter boot space. Since the price has come down tremendously, Honda Jazz sells as much as its rivals Hyundai Elite i20, though it is not as sporty-looking as the latter. The expected price will range from 6 to 8.5 lakh.
Posted on 17th March 2015
Fiat India, curious to ramp up car sales has launched the “5*5”, aimed at luring prospective car buyers with charming benefits on its entire car range across varied segments. This concept is a combination of 5 key aspects of a Fiat car multiplied by 5 benefits of buying one.
The 5 distinctive facets are Italian styling, strong build quality, top class ground clearance, rich features and superior ride & handling. The 5 benefits of this scheme are 5.5% interest rate on car loans, 5 years warranty, 5 free services, 5 years roadside assistance and a chance to win couples trip to Italy. The Italian car maker is leaving no stones unturned to ensure success of this campaign aimed at ramping up car sales in various segments.
Posted on 12th March 2015
Mercedes Benz is geared to launch the 2015 B class facelift in India on March 11th, 2015. The revived B class will look elegant with new LED projector headlamps, logo etched grille along with a bumper that is redone with embedded stylish fog lamps in the front. In the rear section, the car has undergone considerable changes with new tail lamp graphics, remodeled bumper and integrated exhaust.
The German car maker has given equal prominence to the interiors with a new instrument cluster, a new infotainment system with an 8 inch screen, three spoke multifunction steering wheel and a host of other cosmetic changes. This facelift model made its global debut at the Paris Motor Show in October, 2014.
Posted on 12th March 2015
Hyundai, the Korean car maker is all set to uncover i20 Active, the crossover version of its famous i20 series of hatchback on March 17th. The model conforms with Hyundai’s Fluidic Sculpture 2.0 design philosophy.
This urban crossover will retain the feel of its hot selling mate, the i20, coupled with aggressive designing. With drooling features like projector headlamps, roof spoiler and roof rails, new rear fog lamps, it is likely to come with a 17 inch sporty looking alloy wheels. In the interior section, the i20 active is expected to undergo substantial changes to sync with its exterior SUV looks.
The i20 Active crossover design is the brainchild of Hyundai’s design studio in Russelsheim, Germany & is expected to be on the price band of 6 -8 Lacs. This new offering from Hyundai is likely to stir up some stiff competition in the Indian crossover car segment.
Posted on 10th March 2015
Renault has rejigged Pulse, its small car offering in India to launch the revamped version at Rs. 5.03 Lacs (ex-showroom Delhi). The new Renault Pulse 2015 gets steering mounted controls, automatic headlamps & height adjustable drivers seat. In addition, Pulse has also undergone cosmetic changes inside the cabin with a dual tone dashboard.
The 2015 version gets a thumbs up for its superior security & techno add ons such as1.Smart key access
With so many top end features, Pulse 2015 promises to be a leading feature rich car in the hatchback segment. The French car maker is due to launch two MPVs and a small car during the first half of 2015, adding more horses in its stable.
Posted on 6th March 2015
Lately, the Reserve Bank of India (RBI) has been full of surprises. Continuing this trend, the apex bank has slashed the key policy rate by a mammoth 25 basis points, a move that will force banks to drop the interest rates on their loan products, including the lucrative segment of car loans. Henceforth, the policy repo rate will stand at 7.5% and the update will come into effect immediately. Earlier, the rate stood at 7.75% and there had been rife discussions about the inevitability of such a development.
However, the Cash Reserve Ratio (CRR) remains unchanged of scheduled banks at 4% of net demand and time liabilities (NDTL). Plus, the daily variable rate repos and reverse repos will continue as usual to aid in smooth liquidity. This update from RBI comes as a real shocker- the quantum of which differs from banks that supply the loans to customers who enjoy them (at a lesser interest rate, of course).
Posted on 4th March 2015
1.Alloy wheels, that used to be a standard feature for all its models has now been replaced with steel wheels. However, alloys are still available with Zest XT variant as a standard feature.
2.The intriguing 3 Years Zero Maintenance Plan(Silver pack) on all the Zest variants is now reinstated with a standard warranty of 2 years.
3.Customers can go for an extended warranty( 4 years) by paying an upfront fee of just Rs.8000.
4.Prices have been hiked in the range of 4 - 5 % on both Revtron (petrol) and Diesel variants.
For the prospective hatchback car buyers, this must not really be a bother considering the gamut of features Zest still retains, making it a desirable family car in India.
The X7 has been in the news for quite some time now. It did not hit the roads in 2014 despite BMW’s best efforts but it is expected that the SUV will be available globally, inside a couple of more years. The model X7 has been spotted testing on international roads many a times and this is fueling these widely spread speculations. X7 will be the largest Sports Utility Vehicle (SUV) to be produced by BMW. With higher centre of gravity and a longer wheelbase platform, this model is all set to outperform the other SUVs. Even though the official information is yet to be released, X7 is expected to go on world-wide sale by 2017. There’s good news too- with a lot of banks offering car loans up to 90% of the ex-showroom price, owning a BMW need not be just a dream now. Also, you have time until 2017 to plan the finances accordingly. And if you cannot wait- check out varied car loan.
27th February 2015
As a good news to consumers, State Bank of Hyderabad has reduced its interest rates for gold and car loans offering special loan packages with renewed interest rates. The interest rate for the car loan campaign which was launched in October 1, 2014 has been slashed by 20 basis points from 10.50 per cent per annum to 10.30 per cent per annum. Adding to this, rates falling under the Combo car loan campaign have been reduced by 15 basis points from 10.40 per cent per annum to 10.25 per cent per annum.
Gold will be more attractive to SBH customers, with the bank also lowering the interest rates levied on gold loans to 10.50 per cent per annum. The gold loan campaign launched in September 8, 2014 has been extended till March 31, 2015. SBH reiterated the fact that these offers are available only for a short period of time and all types of customers are eligible to apply for them. Further, the bank is also waiving of the processing fees normally charged on these loans, as an added benefit to customers.
18th February 2015
2015 has started on a high note for the Indian automobile sector, with car sales in January having dwarfed the numbers set a year ago. The primary reason for this rests in the lowering of fuel prices that translates into lower vehicle ownership costs. Further, RBI’s recent action to slash the key policy rate, and prospective hopes that more cuts are in order, has impacted the interest rates applicable to car loans in sufficient degrees to renew the demand for cars. Individually, Maruti Suzuki has reported a 9% hike in domestic sales to account for 105,559 units, Hyundai with a 4% increment at 34,780 units, Honda accounted for a 17% boost at 15,714 units and Toyota Kirloskar notched up a 16% upswing to sell 12,650 units in January 2015. Tata Motors, accounting for sharp loses in the last two years, also enjoyed the January revival- selling 13,047 units and notching a 19% hike in sales figures. All these major automobile manufacturers are hopeful that as the year progresses, the numbers will only get better.
12th February 2015
The planned policy review was slated for February 3, however the Reserve Bank of India (RBI) jumped the gun and imposed a deduction of 25 basis points on repo rates (also called lending rates) as of January 15, effectively dropping down the rate to 7.75%. This translates into a definite probability that car loans as advertised by various Indian banks will also witness a corresponding reduction in interest rates. But, this is just half the story. Most industry experts, including influential names like Morgan Stanley expect this rate to fall further, a full 125 basis points over the next 12 months (taking the overall haul to 150 points). These experts are pointing to subtle hints that indicate that the RBI is at the start of a serious rate cut cycle. This will reduce the cost of capital for banks that in-turn will cause the fall in lending rates across various portfolio products, including car loans. The timing of these cuts however, will depend of the bank’s individual perception of the situation.
10th February 2015
While the country may be rejoicing over the current repo rate cut by the RBI, car industry players think that the rate cut not only is too late but is too small as well. They were anticipating a rate slash of at least 0.5% since the last repo rate cut had happened 20 months ago in the year 2013.
However, experts feel that it is not the actual cut that matters rather the direction which the rate took that is more significant. This is because a cut in rate signals a positive movement of the economy and a step towards reducing the inflation rate which has been riding considerably high for the past few years.
The banks and other credit providers are now expected to take cue from RBI’s move and start to reduce rates so that demands for credit improve. Also, if the economy continue to do well, RBI is expected to reduce the repo rate further thereby providing greater relief to the customers.
2nd February 2015
Have you been holding back the decision to buy a new car? Now is the right time to start planning again. With a bunch of new cars set to hit the Indian roads in the year 2015, you can choose from a new array of car models and own your dream car. Here are a few cars that are coming your way in 2015.
Tata Bolt: This hatchback from Tata Motors will be out in late January. With this car, Tata is hoping to grab a comfortable place for itself in the hatchback segment. The car is loaded with new features like satellite navigation and projector headlamps. The introductory base price of this car is Rs.4.2 lakhs.
Mercedes Benz CLA Class: The latest from Mercedes is a compact luxury sedan which will be out in January. The car will be launched in both Petrol and Diesel variants. This CLA class will be priced lower than the GLA class of Mercedes.
Datsun Go+: Datsun Go was launched last year in the Indian market. The company is geared up to launch the enhanced Go+ model this year. The new model is said to produce more linear power delivery however, the car isn’t loaded with too many features. The prices start at Rs.3.6 lakhs since even the highest range model doesn’t come with features like airbags, ABS and alloy wheels.
30th January 2015
For all you fans of sporty cars, Mercedes has sent into production the all new CLA Shooting Brake model which essentially is a sporty sedan. The first batch of the car is being manufactured at Kecskemét, Hungary and is set to hit the roads in March 2015.
The model is available in a variety of engine variations like 2.1 liter-four-cylinder diesel, a 1.6-liter four-cylinder and a 2.0-liter petrol. Among all these models there is one range topping CLA Shooting Brake car too which has 2 liter-four-cylinder engine that develops a high torque and is connected to a seven-speed AMG SPEEDSHIFT dual-clutch transmission which enables instant accelerations as high as a speed change of 0 to 100 km/he in just about 4.7 seconds.
This CLA Shooting model is open for booking now and the first batch will most likely be rolled out of the manufacturing unit in the month of March.
28th January 2015
With India all set to become the world’s third largest car market by next year, Kia Motor’s CEO has hinted at setting up a car factory in the country to offset diminishing sales in China and Russia.
Currently, Kia Motors, which is a subsidiary of Hyundai Motors does not have any manufacturing unit in India and attracts high import taxes which has resulted in negligible sales of Kia cars in the country. While growth in Russia and China are slowing down, India is the market that the company is looking forward to for boosting sales volumes and profit margins. As to the time and location of opening up of the factory, there is no clear information as of now.
28th January 2015
Existing Home and Car Loan borrowers can breathe a sigh of relief as loan rates are set to go down with the latest slash in the repo rate by RBI. The repo rate has been cut down by 25 basis points which means a decrease of 0.25% in the existing interest rates on car and home loans. All banks are yet to reveal the dropped rates however, banks like Union Bank of India have already announced the cut.
A lower rate of interest will mean a lower EMI for prospective borrowers and will mean a reduced loan tenure for existing customers who are paying off their loans via monthly installments. For example, if the interest rate comes down from 10.25% to 10.00% for a 20 year home loan of 25 lakhs, then the EMI will come down by about Rs.418 per month.
The Reserve Bank of India has said that inflation is expected to remain low at just under 6% till January 2016. For an existing home loan borrower, either the EMI or the tenure can come down. However, for car loan borrowers, since most car loans are sanctioned at a fixed rate of interest, only new car loan customers are set to profit more in terms of reduced rates.
22nd January 2015
Ford India’s launch of its new Figo model may happen ahead of the expected launch date going by recent developments. Speculations began when sales of Ford India’s top-selling brand dipped significantly at the end of 2014, hitting only about 10% of its usual monthly figures at 151 units. This led industry observers to believe the old model is being phased out to make way for the new version which was initially set for a March 2015 launch.
Although the auto major hasn’t yet made any formal announcements, rumours are doing the rounds based on the fact that the new model is already in its testing phase which includes test production. Manufacturing of the new Figo is said to take place at the Sanand unit in Gujarat, slated to begin operations in the upcoming months.
13th January 2015
2014 marked a good year for Volvo cars which achieved record sales of 465,866 units. This represents an annual growth of 8.9%. Monthly sales have been increasing consistently for the Swedish auto major over the last year and a half and this trend is expected to continue into the coming year as well. While this growth can be attributed to the company’s key geographical drivers i.e. Western Europe and China, Volvo is pushing to expand its reach and make a mark in all markets, the world over. It aims to achieve its targets by revamping its product line with strong focus on technology and design.
These figures are very encouraging considering 2014 was a year which saw many luxury auto brands such as Rolls Royce Motor Cars of BMW AG, McLaren and Bentley, to name a few, work towards greater sales numbers.
12th January 2015
German auto major, Volkswagen, has its wheels in motion with a number of new products in the making. Of these, the supposed launch of the latest model of the Volkswagen Phaeton has the global auto industry talking. This hitherto underappreciated luxury car is set to hit markets at the end of 2016 with an array of creditable features and is expected to outshine preferred luxury brands such as Mercedes, Audi and Lexus among other competitors.
The Volkswagen Phaeton already boasts great attributes. However, it has, so far, failed to elicit the desired customer response, generally being outdone by other high-end sedans in its segment. However, the new model, based on cutting-edge technology, is set to top even the Mercedes-Benz S-Class in terms of comfort. It will also leverage technology for safety and improved driving experiences with suspension systems that monitor and adjust to road conditions through the use of sensors and cameras.
Volkswagen also has plans for new models in other segments to be launched in various geographies across the world. If implemented as per plan, new models, mainly SUVs, could find their way to India in the coming years.
12th January 2015