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What is the typical tenure for a car loan?
Car loans in India usually have tenures of 1 to 7 years. A shorter tenure means a higher EMI but lower total interest.
What interest rate should I expect on a car loan?
Indicative car loan rates range from about 8.15% to 13% p.a., depending on the lender, the car model and your CIBIL score.
Can I get 100% financing on a car loan?
Many lenders fund up to 85% to 90% of the car's on-road price, and some offer up to 100% in select cases. The exact amount depends on the lender and the car's value.
Does the car loan EMI include insurance?
No, the EMI covers principal and interest only. Car insurance and registration costs are usually paid separately or financed separately.
Can I prepay my car loan?
Yes, most lenders allow prepayment after a lock-in period, often with a small prepayment charge. Prepaying reduces the outstanding principal and future interest.
Interest rates shown are indicative and change frequently. This calculator is for estimation only - verify current rates and terms with your lender before applying. This is not financial advice.
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