Re: Car loan vs outright purchase Quote:
Originally Posted by capnemo Thanks rx100. I wasn't aware SBI was offering at a reducing basis. Atleast HDFC I know, is offering flat rate auto loans. |
Not just SBI, even HDFC provides it on reducing balance basis. I don’t think I’ve seen flat rate auto loans other than from smaller non banking loan providers. I’ve my BoB Car Loan also on reducing balance. In fact I’ve noticed that loans on reducing balance is the norm at least from major banks, and flat rate loans are an exception. |