Your car is an important physical asset added to your name. Investing in a car thus becomes very important and needs to be handled with utmost priority. Gone are the days when one had to wait for years and save money for a car model. These days you get various other financing options to buy any car model that you desire to get in your personal garage.
Car loan being one of the most sought after option in the recent times. Almost everyone looks out for a car loan while planning to get a new car. Car loan facility enables you to buy any model you want to have instantly. By availing the car loan purchase you get exempted from paying the entire amount. All you need to do is pay a small initial amount as the down payment and then complete the formalities of the loan documentation. Everything else from then onwards would be taken care of, by the financer. There are multiple sources from which you can get your car loan done:
* Car manufacturing companies
* Independent lenders
* Local banks and credit unions
* Car Dealerships
You can always get a better deal from any of the banks or credit unions, than the dealerships; because the dealerships look for an extra commission fee. In case you haven’t done enough homework on the Maruti finance or such other finances, you might be a victim by paying hidden fees, extra charges or fluctuating interest rates. So better you get yourself aware of Maruti finance and such similar options beforehand.
Documents Required:
In order to avail a car loan make sure that you are a person who is salaried or self-employed with either Private or Public Limited Companies or in any kind of Proprietorship or Partnership. The pre-requisite documents which you would be requiring in order to get your car loan sanctioned are as follows:
* Salary Slip – Latest 2 Months
* Form 16 – Last 2 Financial Years
* Last 3 years IT Return
* Signature Verification
* Address Proof
* Pan No./ Form 60
* Photograph
* Post Dated Cheque
* 6 Months Bank Statement
* Last 2 years audited balance sheet & P & L
* Board Resolution / Partnership authority Letter
* Signature Verification of Directors/ Proprietor
* Partnership Deed
But make sure you have done ample research on Maruti Suzuki finance for your car loan. Do thorough research on the loan details. You need to maintain a proper track of the exact amount that you need to pay for the car, apart from the sales tax, registration and title fees, etc.; under the Maruti Suzuki finance. Try to have a thorough understanding of the interest rates and the terms and conditions for the repayment.
Usually, you will get a time period of 48 months for the car loan repayment, but some loan companies may extend the deadline to pay off the balance for 60 to 72 months. The catch is that, the longer the repayment period the more interest rate that will be piled up on you.
