| What amount can I get as car loan? |
 |
 |
 |
| Written by Site Administrator |
| Wednesday, 28 October 2009 07:08 |
|
You must first decide how much you are willing to pay as downpayment. The remaining amount of the price can be obtained from the bank as car loan. When calculating the loan amount many banks will allow you to include the charges based on make, model, accessories and so on. You may have to first assimilate all this information and come up with your final figure. Note that though the banks are able to provide car loan, they cannot give you a loan for an amount for which your EMI exceeds 40% of your take home salary. Generally, you get upto 3 times your salary in the case of salaried employees and upto six times the net profit in the case of business people. Some banks and financial institutions also provide loans for second hand cars based on their resale value. So you can also find out the resale value of a second hand vehicle in case you want to buy it on a loan. Comments (0) |
| Last Updated on Wednesday, 28 October 2009 09:38 |