If you are looking to buy a car, but your pocket isn't allowing you to, then we have you covered! These days, bank loans make it possible for anyone to easily own a car.
But first thing’s first, let us know the basic steps to get a car loan.
Step 2 :Examine the interest rates on the loan, EMI payments, time period/tenure, service charges, processing fees, etc charged by various lenders, banks and institutions. Aap jab sab lenders ko compare karenge, you can choose the lender which charges the least amount from you.
Step 3:Ask if special offers and discounts are available on car loans. Isse aap apna car loan aur bhi discounted rates pe le sakte hai.
Step 4:Collect all your updated documents and submit them to the bank. Banks aapse loan dene se pehle Know your customer (KYC) documents mangte hai. If these documents are correct/accurate and updated, then getting a car loan becomes easy.
Step 5:Get the loan and go get your dream car.
Step 6:Don’t forget this step. Have a good, long trip with your family in the car!
Now let’s imagine, one day you think of buying another car, but you already have a car loan under your name. Toh ab kya kare?
Iss situation mein bhi AU Bank apki sahayta karega. Despite having an existing car loan, you can choose another car one with your bank. But in this case, banks may follow certain procedures to check if you are fit to take another loan.
Ek cheez jo banks check karte hai - wo hai apki peechle loan bharne ki history. If you have paid your interest, EMI and other charges on time, then there are chances of getting another car loan at good terms. But, agar aapki history theek nahi hai, toh aapko thodi mushkil ho sakti hai.
Another thing that banks check is your income, because the first loan would have been approved based on your income. So, agar apki income same hai, toh loan uss ke according diya jayega, but if your income has decreased, then conditions thode strict ho sakte hai. In case of increased income, the road to getting a car loan becomes smooth for you.
So when someone tells you, “Second car loan lena mushkil hi nahi, namumkin hai,” you can just pull out and show them your car keys!