If I pay 80 000 down payment for used car car valuation

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If I pay 80,000 down payment for used car ..car valuation is 3 lack.my gross salary have 14,000.
Plz tell m.how emi per month and which bank finance to m.also am parmant worker
  • 1469 day(s) ago by Nilesh
Under:   #Cars
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Answers submitted by Users

Hi Nilesh. Your eligibility is decided by your preferred financier. Approach used car loan personnel for exact details.

Posted: 1468 day(s) ago

So Nilesh, We need to know the Interest Rate that you will get and the Tenure for the Loan.
While you that I am giving you an answer as per 15% Interest rates because usually thats it is when getting a used car financed , Tenure 3 years. Total loan you will take 2,20,000 as you making 80,000 down payment.
your EMI will 7519 and it would be for 3 years. Total Interest paid will be 50,687.
use the link to calculate : http://emicalculator.net/

Posted: 1468 day(s) ago

There are not many banks who will finance a used car and its a very tedious process. Mainly HDFC , KOTAK Finance and SBI deals in this.

Posted: 1468 day(s) ago

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