![]() ![]() You can use the car loan calculator to determine how much interest you owe, or you can do it yourself if you're up for a little math. As you pay down the balance over time, the interest portion of the monthly payments gets smaller. So, in the early days of the loan, when the balance is higher, you pay more interest. The interest you pay each month is based on the loan's then-current balance. With most car loans, part of each payment goes toward the principal (the amount you borrow), and part goes toward interest. Calculate the monthly instalment on your new car, based on the car price and loan interest rates from major lenders in Singapore. ![]() If the calculator offers an amortization schedule, you can see how much interest you'll pay each month. Home » Resources » Loan Calculator » New Car. How Is Interest Calculated on a Car Loan?Īn auto loan interest calculator shows the total amount of interest you'll pay over the life of a loan. Meet these eligibility criteria and gather the required documents for a smooth and efficient pre-owned car loan application with IDFC FIRST Bank.Use the auto loan calculator before you head to the car lot so you'll be ready to find a car that fits your budget and negotiate the best deal. You can choose from multiple address proof options and submit either a bank statement, electricity bill, telephone bill, or rent agreement as your address proof.Ĭhoose from the diverse income proof options and furnish a salary slip, income tax return, or bank statement as proof of income.Īpplying for IDFC FIRST Bank Pre-Owned Car Loans – A Seamless Process You can choose from the multiple identify proof options and provide either your PAN card, Aadhaar card, passport, or voter ID. 1,50,000 or more is necessary.ĭriving License and Vehicle Registration: When it comes to vehicle documents, you need a valid driving license and the registration certificate of the vehicle you're purchasing or using as collateral. Self-Employed Individuals: An annual income of Rs. Salaried Individuals: A minimum monthly income of Rs. Indian Citizenship: Applicants must be Indian citizens.Īge Requirement: You should be at least 21 years old. If you have any additional questions or need further assistance, our team is ready to help-simply reach out to us for personalized support.Ĭonsidering a pre-owned car loan with IDFC FIRST Bank? Here's a breakdown of the eligibility criteria and documents you'll need: Follow these steps, and you'll be on your way to owning your dream car in no time. ![]() With a focus on transparency, quick processing, and attractive interest rates, we stand out as the preferred choice for savvy car buyers.Īpplying for a car loan with IDFC FIRST Bank is designed to be a hassle-free and secure experience. Flexible tenure: Tenures of up to 5 years, ensuring a seamless and manageable repayment plan for your refinanced car loanĬhoosing IDFC FIRST Bank for your pre-owned car financing needs means partnering with a trusted ally committed to simplifying your car ownership journey.Attractive Rate of Interest at 13.49%: Our refinance loans come with competitive interest rates, ensuring a cost-effective solution for your financial needs.Same Day Disbursal (Up to Rs.25,00,000): Experience quick and seamless loan disbursal, allowing you to address your financial requirements promptly.Up to 200% Financing of Car Value: Obtain the financial support you need by refinancing up to 200% of your existing car's value.Flexible loan terms: Tenure of up to 7 years, offering extended flexibility for budget-friendly repayments on your used car purchase.Wide Range of Certified Cars: Choose from a diverse selection of certified and verified cars available through our trusted partner dealerships across India.Attractive Rate of Interest at 10.49%: Benefit from competitive interest rates, making your car ownership journey affordable.Same Day Disbursal (Up to Rs.25,00,000): Swift and hassle-free loan processing ensures you can drive away with your dream car on the same day.100% Loan-to-Value Ratio: Enjoy the flexibility of financing the entire value of your chosen pre-owned car.Here's why choosing IDFC FIRST Bank for your pre-owned car purchase is a wise decision: Our range of car loan products is designed keeping your needs and preferences in mind, offering a seamless and efficient financing experience.
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