Know Why Taking A Loan To Buy A Car Is A Good Idea? | AU Small Finance Bank
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Why Taking A Loan To Buy A Car Is A Good Idea

    Dreaming about buying your own car is very easy, but is turning that dream into reality easy as well? The answer is a big YES. You don't have to wait for years and save every penny to collect enough money to buy a car because banks are always there to help you get your dream car!

    Banks provide attractive car loans wherein you do not have to pay the full amount of the car to the dealer. You just have to pay a certain amount of the total price, while the rest is paid by the bank as it loans the amount to you. It is not necessary for you to repay this loan at once. You can conveniently choose a time period within which you pay your loan back in monthly installments. So why wait for long, when you can buy your desired car in a few minutes or days?

    Moreover, we are here to help you take your car loan decision by sharing few helpful details

    1. Car model:

      One of the concerns for customers is if the car that they want is covered under car loan or not. These days, majority of cars are covered by banks while providing car loans. So, there is no need to worry about the model of the car.
    2. Duration: 

      If we take a loan to buy a car then we do not have to pay the entire price of the car at one go. We can opt for different time periods, within which we need to repay our loans. And this repayment is done in installments for the decided time. This time period to repay the loans ranges from 1 to 5 years. So, you can choose your time period according to your affordability.
    3. Get your car loan online: 

      Most of the banking facilities are now available on your mobile and on the internet. So to apply for a car loan, you do not need to go to the bank, as a majority of the formalities can be completed online without any hassles
    4. Another car loan? 

      If one of your concerns is that if you buy a car on loan then you would be unable to buy a second car on loan, then you do not have to worry. Now with AU Bank, you can buy another car on loan even with an existing car loan.
    5. Credit score: 

      If we repay our car loans on time, then we can also improve our CIBIL or credit score, which can help us get credit in the future on favorable terms.
    6. Smarter investment planning:

      The money you save by taking a car on loan can be put to use in case of an emergency, or to plan better investments that are lucrative.

    Now all you need to know is if you are eligible to apply for car loans or not. Let us help you with that.

    1. A salaried person or someone who has a steady source of income, is considered a good candidate
    2. Your prior credit history should be satisfactory
    3. You have a stable residence

    So, if there are so many benefits of buying a car on loan with such minimum pre-requisites, then why would you want to spend away all your credit at once? So, wait no more! Apply now for car loan.

    Also read more about personal car loan with an attractive rate of interest

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