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You have dreamed long enough of the car you saw at the showroom or the one that zipped past you on the road. Now is the time to buy your own set of wheels! With companies aggressively marketing car loan schemes by offering innovative and tempting offers, organized and institutional car finance seems to have come of age in India. As a result, getting a car loan has never been as easy.
There are various banks as well as many Non Banking Financial Companies(NBFCs) offering car finance schemes. Several of the financiers have tied up with manufacturers to offer competitive finance scheme on the respective manufacturers’ products. It is through tie-ups like these that manufacturers pass discounts to its customers that finally translate into a lower instalment payments. With so many schemes to choose from, you need to be careful to select one that suits you best.

Here are a few popular car loan schemes available in India:

• Margin Money Scheme
• Security Deposit Scheme
• Advanced EMI Scheme
• Hire Purchase Scheme
• Lease Financing Purchase