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Car loan helps us to buy vehicle we want in the situation of shortage of money. Car loan, also known as Vehicle Loan or Car Finance is one the most intricate loan product in India because the car dealers tend to mix together various cash discounts offered by the manufacturers or car financiers in the interest rate offered to the buyer. Due to such things, the chances are that the borrower may not get the best deal on car loan. So, as a result to get cheapest car loan in India, comparison becomes all the more important.

Various financial institutions and banks provides several car loan offers but the interest rate offered by the lenders on car loans in India may actually vary from the one advertised either in the newspaper or any other media. But unlike other loan products interest rate for auto loan varies and highly depend upon various factors such as credit score of the borrower, make and age of the car( in case of second hand car loan) and quantum of car loan sought by the borrower.


One can compare car loan offers provided by various financial institutions through insurance aggregators such as policybazaar.com which eventually helps you in your decision making process to get the cheapest car loan in India. The various calculators such as car loan compare tool, car loan interest rate calculator, EMI calculator proves much more significant after you use them. Comparison of car loan calculator helps you getting the cheapest car loan India while EMI calculator helps you to determine your monthly installment for a given rate of interest and given tenure. Interest rate calculator helps you calculating interest rate on your loan. But before you apply for car loan India, and to overcome challenge of paying money back for a car loan, below are the tips to avail the best and cheapest car loan in India:

• Analyze your budget: To make sure that you borrow the right amount, create a budget. Write down all your sources of income and your expenses, making sure to include any upcoming purchases or lifestyle changes that could impact your finances. By creating a thorough budget, you'll have a good sense of how much you can afford to spend on a car.

• Research the cost: Once you've got a good idea of how much you can spend on a car, analyze how much the vehicle will cost. Be careful as the expenses include more than just the purchase price. You'll also need to consider insurance, fuel, maintenance, and interest charges.
• Check your credit score: Your credit score is going to be a primary factor in determining whether or not you are eligible for a car loan. Good credit score can help you getting the best car loan offers with cheapest and economical car loan.