Gujarat Public Service Commission (GPSC) Class 1 & 2 (Advt. No. 40/2018-19) Marks.
Posts Name: Gujarat Administrative Service, Class-1 & Gujarat Civil Service Class-1 & 2, Gujarat Municipal Chief Officer Service, Class-2
Before it was hard and a big deal to buy a car, because we have to spend lots of money together at a time, but now a days due to availability of car loan we are able to buy easily.
Bank and non Finance Companies are providing car loans in a very few and easy steps. Due to which buying a car is not a big task and we can easily get our own comfortable car as well as in our budget.
The companies which provide loans they provide loans for both new as well as old cars there is different interest on it.
For new card interest is up to 9.25 to 13.75 in between it.
And for all old car the interest is 12.5 0 to 17.50 in between it.
WHO CAN TAKE CAR LOAN?
Before applying for card loan There are several rules and regulation like age, job, residence through these and included.
1) Identification Card
2) Pan card, Passport, Driving license, Voter ID
3) Address proof
4) Age proof
6) Car papers
7) Three months salary slip
And few companies do not issue card loan till the insurance paper and driving licence are there.
Important note- While buying second hand car just remember these things.
When you are going to take loan the company keeps your papers .Then they will be able to take your property if you are not able to return the loan and even they can take your car.
Hypodecation letter is also a part of the loan sanction.
Once you pay all the money loan written you can take off your hypodecation letter from company.
After taking off your related registration certificate transport officer must provide no objection certificate, you must go with car insurance paper and address proof and it’s very important to take and NCO from the car loan providing.
When we take loan for second hand car the second time registration expenditure does not cover it the
If you think that in future the interest rate may vary then you can take loan under the floating rate.
At present time the interest rate is 10.30 to 15.25 in companies and sometimes for womens alone is forgived.
If you take loan to buy second hand cars then it’s more extra than to take loan for new cars.
Advt No. 40/2018-19
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