Owning a car, be it first hand or a used one, is mostly treated as a milestone in one’s life. Other than the practical usage, this is probably a sort of symbol of independence and a financial gratification. The aspiration to own a car in our country is only rising by the day. It is a not uncommon to see a car being purchased when we have some extra money available to us. Add to it, the availability of many new models in the market, makes us want to drive one of those hot wheels.
If you have a regular source of income with good credit eligibility, owning that favourite car will not be a dream anymore. Car loans are easily available today with many options to work out comfortable EMIs. With informed decision-making and smart choices, you will be able to sustain a car loan as well as manage rest of your finances for other needs.
Car loan is a financial assistance taken to purchase a car with minimal initial payment from your own pocket. The borrowed money from the lender can be repaid in equal monthly instalments over a period of time with an agreed rate of interest. Normally, car loans are secured with the vehicle itself that is being bought.
