HomeTech newsGoing out to buy a car and bike this Diwali, keep these...

Going out to buy a car and bike this Diwali, keep these things in mind

Low Down Payment Bike Offers 2022: If this Diwali (Diwali-2022 Car Bike Finance) you have made a plan to get a car or bike, and are leaving the house, then you must see this news once. If you are planning to buy a new or old car on the occasion of Diwali, then we are bringing news of your work. Nowadays people get into the talk of agents, and do not take care of some things in the hustle and bustle. In such a situation, we are going to tell you that it is very important for you to take care of some things while getting car and bike finance.

View Your Credit Score
You must check your credit score before taking a car loan. On the basis of this score, your loan is easily done. With this the bank offers you the least interest. If your credit score is more than 750, then most banks can easily take a loan of up to 90%.

Find out how much interest will have to be paid
Let us tell you that banks and financing companies give two types of loans, in which the rates of interest are different. This includes ‘fixed’ and ‘floating’ interest. On fixed loans, interest is charged from you on the entire amount in one go. This means that you are charged interest on the amount you have paid. On the other hand, in floating, you are charged the same interest as your loan is outstanding.

Car and bike insurance
Let us tell you that the car and bike (Car or Bike) must be insured. At least you should have third party insurance for your vehicle. In such a situation, you must keep in mind that before leaving the showroom, take an insurance copy of your vehicle with you. Sometimes agents say that your car is insured. You can take the car comfortably, in such a situation, sudden incidents happen with many people and due to lack of insurance, the insurance company is not able to get you anything.

how much loan will you get
The cost of the car or bike depends on how much loan you will get. If you are buying used car finance then you will get 100% loan. The bank finances only 80 and 90 percent of the used car. It will depend on the credit score of the applicant.

takes extra charge
Let us tell you that before taking a loan, one should also know about all the extra charges of the bank or finance company. Extra charges like Processing Fee, Stamp Duty and Four Closure Charges put more burden on the customer. You should know this information in advance.

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