Pune is in Maharashtra, India. It is second largest city in the state and is considered the state's cultural capital.Pune has had traditional old-economy industries which continue to grow. The city is now also known for Manufacturing, Automobile, Government & Private sector Research Institutes, Information technology (IT) as well as Educational, Management and Training institutes that attract migrants, students and professionals not only from India but also from South East Asia, Middle East and African countries.
About Car Finance: Personal Car Finance is a complete subsector of personal finance, with numerous different products available. These include a straightforward car loan, hire purchase, personal contract hire (car leasing) and Personal Contract Purchase. Therefore car finance includes but is not limited to vehicle leasing. These different types of car finance are possible because of the high residual value of cars and the second hand car market, which enables other forms of financing beyond pure unsecured loans.
At least 21 years old
Less than 67 years old
Salaried / Self – Employed
with regular income
Earn more than the minimum
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 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|
Lively and commercial, verdant and unhurried, multicultural yet old-worldly, Pune easily carries a larger than life persona though its glorious past is not always palpable. This is the place where Shivaji lived as a child, the seat of Maratha confederation at the peak of its heyday. This is the Pune that belonged to the Peshwas. Soon it became the monsoon capital of the British, who laid grounds for the cantonment you see today. Peppered with top-notch educational institutions like Symbiosis, The Film and Television Institute of India and many other renowned academic centers, Pune is famed as the ‘Oxford of the East’. It has meandering roads, most of which cut according to the natural slopes of the hilly terrain hugging the River Mutha.
As the city developed haphazardly, a great number of highways were constructed while witnessing an IT boom. The fact that the usage of private motor vehicles like cars and bikes have escalated over the past decade in the place is not news. What is new though is that the city has the largest number of vehicle owners in Maharashtra, surpassing even Mumbai. Of all the 35 Maratha districts, 13.2% of families in Pune use cars as their mode of transport while Mumbai stands at 2nd place with only 12%. In the meantime, a similar progress were noticed in the usage of two-wheelers such as bikes, scooters and mopeds, which is a strapping figure of 48.8%.
With the economic growth living up to the famous adage of Kennedy - ‘a rising tide can lift every boat’- it is not hard to fund one’s dream car. Pune car loan providers and dealers have understood this rise in tide and offer numerous loan options to their people. Hence, borrowing a portion of the entire car price from a bank or a financier is quite common nowadays. Depending on the bank, there will be a few eligibility criteria to be met and you will be asked to submit the required documents (ID proof, address proof, employment/ income proof etc). In the end, going for personal car loans is a much safer and cheaper option than other loans.
If you are planning to purchase a new or used car and are looking for financiers, please have a look at the below points before approaching any car loan provider.
This is not to say that you will not be eligible in case of an existing loan or you have to pay off everything before applying for another loan. They will check and assess whether your present financial condition lets you settle up that loan together with the new one. You also have the option of consolidating the previous and current loans into one. Not only will this make for easy loan settlement but also avail you a reduced interest rate.
Selecting a bank to apply for a car loan can be baffling as the market is highly competitive. High variation of interest rates can be spotted when you do some research. Hence surf through those price comparison websites regarding car loans and pick the bank that offers the lowest rates. But that is not all. Do not miss the oh-so-well-hidden fees lurking on the page. Your list will soon become shorter and that is the time to get in touch with the nearest branches and make detailed inquiries. Food for thought- there have been cases where loan providers receive way less money as interest but levy an outrageous processing fee, which effectively nullify what you save on interest. Think before you sign!
|Check For Latest: Gold Rate in Pune Or Silver Rate in Pune|
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