We try our best to show you the most accurate prices and other content, however, these details are subject to change without prior notice. If you find any discrepancy, please bring it to our notice by writing at : punit644@gmail.com
Zero Dep & Insurance
Depot 0 + Accessories 3,348 = 3,348
EMIs or Equated Monthly Installments refer to the monthly payments you make to the lender to repay your loan. These payments include the principal amount as well as the interest i.e. EMI = Principal Amount + Interest on Principal amount. Mathematically, EMI can be calculated using the following formula:
{P x R x (1+R)^N / [(1+R)^N-1]}
where, P = Principal amount of the loan, R = Rate of interest and N = Number of monthly installments.
To process your loan application with the chosen lender, you would be required to submit your KYC documents, which include your identity proof and current address proof, a copy of your PAN Card, your bank statement and your income proofs (Form 16/Salary Slips/ITR). You can get the exact requirement from your loan consultant after applying with us here.
The lenders generally finance 90% of the On-Road Price of the car. Some customers may be eligible for 100% funding too. This means the minimum possible down payment that you have to pay includes the RTO and insurance charges. Down payment is the difference between the On-Road Price of the car and the amount funded by the lender. For example:- Rohit from New Delhi is planning to purchase Honda Amaze, which has an ex-showroom price of ? 7,05,000 in New Delhi. RTO charges for this car in New Delhi will be ? 68,018 and Insurance charges will be ? 29,880. A leading financier approved his new car loan for 90% of the On-Road Price of the car. Therefore, he will have to pay the 10% of On-Road Price (10% of ? 802898 = ? 80289.8) as a down payment to purchase the car.
Most lenders offer car loans for tenures ranging from 1 year to 5 years. You can choose the loan tenure as per your preference. Some lenders like HDFC Bank, Axis Bank, ICICI Bank also offer car loans with tenure up to 7 years.
Generally, new car loan customers choose a 5-year tenure. For a longer tenure, EMIs will be lower but the borrower will end up paying more interest against the loan amount and for a shorter tenure, EMIs will be higher and the customer will end up paying lower interest against the loan amount. So, if the customer is getting a loan for 7 years and doesn’t want to commit to a higher EMI then he should choose a loan tenure for 7 years.
When you are paying off a part of the car loan by making larger payments than the EMI, before the end of the tenure, then it is called part prepayment. By part prepayment, your principal outstanding will be reduced and also reduce your future EMIs. Usually, banks accept part prepayment of upto 25% of the principal outstanding amount in a year, charges against the part prepayment depends upon the due month of the EMI.
For example: HDFC charges 5% on the part payment amount in case part prepayment is within 13-24 months from 1st EMI and 3% on the part payment amount in case part prepayment is post 24 months from 1st EMI.
After the car loan is approved, a customer will have to sign an agreement including a NACH (National Automated Clearing House) form, a centralised system implemented by National Payments Corporation of India (NPCI), launched with an aim to consolidate multiple ECS (Electronic Clearing Service) systems running across the country allowing paperless debit transactions between banks.
Getting into such an agreement would mean that the customer has granted permission for auto-debiting of the EMI amount from his bank account on a date as mentioned in the agreement till the last EMI of the loan amount.
This compact crossover SUV, was one of its kind back when it was newly launched in India, and everybody wanted a taste of it. The style, shape and features were something that the Indian roads were not familiar with. Since the arrival of newer vehicles in this segment, the Ford EcoSport has come out with a revised version of itself and is thus a serious threat to its competitors. It competes with Ford Endeavour.
Available in both Diesel and Petrol variants, the Ford EcoSport is a versatile yet robust vehicle. With features like 20mm ground clearance and cruise control the performance is only highlighted. Three engine options are available in this vehicle. The 1.0L EcoBoost is the most powerful 1.6L Petrol engine offering a power of 124bhp and 170 Nm torque at 1400 rpm, along with a five speed manual gearbox. The 1.5L TDCi Diesel engine offers a power of 99 bhp and torque of 250 Nm along with a five speed manual gearbox. The 1.5L Ti-VCT Petrol engine offers a power of 110 bhp and comes with an option between the five speed manual gearbox and the six speed dual clutch automatic gearbox. Fuel efficiency and a powerful performance is guaranteed with the ‘Green’ feature in the Ford EcoSport.
This SUV is city sized, which means it is made specially to fit the city. The design, shape and size are all customized for the most tedious of city travels. The vehicle gets its bold look from the ultra-modern LED lights, automatic head lamps and rain sensing wipes. The sturdy diamond cut alloy wheels and the high roof, heighten the structure even more. The wide wind screen gives a sense of width. The Ford EcoSport looks like a complete vehicle in every way and has the perfect SUV feel to it. This vehicle comes with enhanced style and a premium feel to it.
