Key Points
Presently, the interest rates for car loans are at their lowest in recent times...
Financial institutions, including both banks and non-banking finance companies (NBFCs), typically extend loans amounting to around 80 percent of the on-road price of a car..
Although a majority of lenders offer LTV ratios of up to 80 percent, certain lenders assert the ability to provide loans covering the entire 100 percent of the car's cost...
Avoid choosing a lower EMI amount and a more extended loan tenure simply because it's available as an option; opt for such terms only if they match your financial capabilities..
Car loan applicants are advised to aim for a lower LTV ratio, striking a balance that doesn't compromise liquidity and financial reserves earmarked for significant life goals...
