Firm up car brand and model This is the first step in the search for the right car loan. Contact car dealer for the price
Get the quotes from as many dealers as you can Enquire about special finance schemes. Also, get details of lending institutions with which these dealers have tied up for speedy car loan processing.
Check out the best offer from lenders at dealerships Check out with your car dealer the loan rates and other charges by different lenders. Since other charges are typically one time payments, it makes sense to take a decision based on the best rate offered.
Check with other banks You can also scout for other lenders, especially PSU banks, for lower rates and prepayment flexibility. However, PSU banks may lag behind in loan processing. Check with your existing bank since it might offer concessions to its customers. Compare all such offers besides the offers at the dealer. Opt for one that seems to be the best.
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