As per the rules, it is mandatory to insure a vehicle ( atleast a third party insurance)… Third party insurance is for protection against the claims of another (the third) party… it covers the losses caused by ur car to a third party…. Check the insurance papers of the car which ure going to purchase & if it is expired u cud either ask the…[Read more]
No hard and fast rule. All depends on how much funds you can spare at that moment. I’d rather take maximum finance and invest the said amount elsewhere.
The points to be noted here are : 3 yrs loan would cost appox 2200/- per lac and 3300 /- per yr for 5 yrs loan. After 5 yrs your car resale value would be around 45-50 % appox . You should also keep in mind the running cost along with loan amount..
Thats very true. The tenure of the loan should be as less as possible. Not more than 3 years, ideally.