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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 sedan by Volkswagen has been in the Indian markets since a while now and with the facelift and changes during the journey, it clearly has evolved to become the best version of itself. It has been on the streets long enough to know what are the expectation and likes or dislikes. The Volkswagen brand, also ensures to cater to the requirements of the masses. It competes with Hyundai Verna, Honda City.
The Volkswagen Vento comes in both Petrol and Diesel Variants, therefore providing more options and therefore arousing interest a larger number of people.The Petrol engines come in two versions, which are the Vento 1.6 MPI version that offers a power of 105 PS at 5250 rpm and torque of 153 Nm at 3800 rpm, with a manual transmission and 6 gears (5 forward + 1 reverse) and the Vento 1.2TSI version that offers a power of 105 PS at 5000 rpm and torque 175 Nm at 5000 rpm, a transmission type of DSG with 8 gears (7 forward + 1 reverse), The Diesel engines also come in two versions, which are the Vento 1.5 TDI version that offers a power of 110 PS at 4000 rpm and torque of 250 Nm at 1500-3000 rpm, with a transmission type of Manual with 6 gears (5 forward + 1 reverse) and the DSG transmission with 8 gears (7 forward + 1 reverse). The fuel tank capacity available with this vehicle is 55 liters.
This powerful sedan has a charming structure like no other vehicle and doesn’t cease to mesmerize with its body shape. Some of the features included in this vehicle are the new 3D effect tail lamps, new front fog lamps with static cornering lights, chrome strip on the door handles, ORVM with turn indicators and the new 15’’ alloy wheels. Along with that comes the body colored bumpers, front grille with chrome slats and galvanized body with 6 years anti-perforation warranty. The design and body exudes the Volkswagen aura and each curve is detailed perfectly to fit correctly and give a sense of completion to the vehicle.
