Will car loans turn cheaper? Yes, says Das – ET Auto
Most auto buyers use an auto loan to purchase a car. Financial institutions lend to car buyers, and use the auto as collateral for the loan: one car, one borrower, one loan, one payment. You can purchase multiple cars, however, with a single loan and have only one payment, just not with a traditional auto loan.
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Thanks for sharing this advice on getting the best car loan rates possible. I think it is incredible how much a few percent in interest can affect your total payment. Shopping around really is important if you want to save as much money as possible! It’s a good thing we have the Internet around to help us find different loaning companies too.
Will car loans turn cheaper? Yes, says Das Transmission of rate cut: . Although the Monetary Policy Committee has delivered two rate cuts this year, banks have not lowered lending rates.
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Loans set to get cheaper as RBI cuts key rate by 35 basis points. RBI governor also stepped in to encourage banks to sanction more auto and personal loans by reducing the risk weight to revive.