4 MinsOctober 27, 2019
A car is an aspiration for most of us. For some, it could be the chance to spend time with loved ones by going on weekend trips, for others an opportunity to experience the thrill of driving, while for yet others it could be the ease of getting
around for their work. Whatever the reason, buying a car is within your reach today thanks to the convenience of car loans.
Travelling is not the hassle it used to be, thanks to cab aggregators and taxis. But with your own car, you can go on an impromptu picnic with your family, or drive to watch a play or movie across town. Even in case of emergency, such as a senior
citizen parent taking ill suddenly, having your own car is useful.
This is why most families aspire to own a car; it is one of their financial as well as emotional goals. Plus, it is looked up to as a symbol of success. And there is no better time to purchase your dream car than this Diwali – considered
auspicious to buy a big asset.
If you have just started earning, you consider an entry-level car. If you already own an entry-level car, you could upgrade to a premium hatchback or sedan. Or you could consider adding an SUV for your long road trips. Don’t stop living
your dreams; enjoy the thrill of driving every type of car.
[Also Read: Get a Car Loan At Best Interest Rates]
To beat the slowdown blues, most automobile manufacturers and dealers are currently offering:
• Deep discounts;
• Exchange bonus;
• Loyalty bonus;
• Valuable accessories;
• Extended warranty;
• Free insurance;
• Extended free service
These tangible offers are too good to miss, enabling you to get the best deal. Plus, to make it easy for you to drive in your dream car, Axis Bank is offering car loans at an attractive rate of interest,
flat processing fees of Rs. 1999/-, a repayment tenure of up to 8 years and a higher loan-to-value ratio (100% on-road price funding on certain models) with no charges on foreclosure or part-payment post 24 & 6 months of loan tenure respectively.
So, buying your dream car is within reach irrespective of whether you are a salaried or self-employed, businessman or a professional. Here are certain benefits of availing a car loan:
• You repay in parts – initially, you just pay the down payment and thereafter, Equated Monthly Instalments (Axis Bank offers EMIs starting from Rs. 1499/lakh of loan value)
• Investments assigned for other important financial
goals are not disturbed
• You do not exhaust all your finances
• You don’t need to mortgage your existing assets to fulfil your dream, as the car loan is secured: the bank hypothecates your car until you have repaid
the loan in full
• If you are self-employed and intend to purchase the car in the company’s name, you also receive a depreciation benefit.
• And the car loan application process is fairly simple and the loan is sanctioned
Check out the Axis Bank Car Loan EMI Calculator, which helps you to estimate how much your monthly outgo will be. All you have to do is enter the loan amount, interest rate, and the tenure
of your loan (in months).
Once you decide, you can apply for a car loan broadly in three ways:
- Visiting any Axis Bank Loan centre in person;
- By calling Axis Bank call centre numbers
- Apply Online
Make the most of the festive season’s offers, drive in your dream car and fulfil a financial and emotional goal for you and your family!
Disclaimer: This article has been authored by PersonalFN, a Mumbai based Financial Planning and Mutual Fund research firm. Axis Bank doesn't influence any views of the author in any way. Axis Bank & PersonalFN shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. The offers mentioned in this article are subject to terms and conditions. Please consult your financial advisor before making any financial decision.