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People who Miss Each Other will Meet Again

Posted by Bayu TNI on October 22, 2021 at 10:34pm 0 Comments

People who Miss Each Other will Meet Again

True love can beat distance and time

As

we grow up, we will meet many, many people, but now they have become a passer-by in our own life.

But some people, no matter how time goes by, we can’t completely forget him, and always bury him in our hearts.

Maybe you and him once had a goodbye promise, but it hasn’t been fulfilled until now.

True love can be worth a thousand dollars, and your feelings will surely…

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Posted by Gale Millsaps on October 22, 2021 at 10:30pm 0 Comments

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Things to consider when applying for car loans

Four-wheelers are a vehicle for many, but a passion for some while it is a necessity for many others. Cars are considered a significant investment for many of us after real estates. Buying vehicles is exciting and needs many efforts like researching for finding the best vehicle within your budget, financing options to consider, the add-ons for your car, etc. Of all the steps one puts, financing the vehicle is very important.

Vehicles are always expensive, so being aware of factors to find the right car loan is essential. You need to select the right lender, be mindful of the terms and conditions, as these saves aplenty. The other factors to consider before applying for one are:

Check the credit score

The credit score and FOIR are the two calculations that lenders emphasise before approving the car finance. Both the calculations determine the creditworthiness of the consumer. The credit score is the ratings provided by the credit bureaus, which depicts your past financial behaviour. Lenders generally check the credit score to see if you disciplined with your previous loan payments.

The Fixed Obligation Income Ratio is your present liabilities along with the applied loan. If all the total payable dues are more than 50% of your net income, the lender does not grant the loan. You need to be an informed borrower and check both the CIBIL and FOIR scores.

Compare loan options

You can get four-wheeler loans from two sources: the banks or other financial institutes or the dealer directly. Both have their advantages and disadvantages. Moreover, if you opt for a bank, you need to select a reputed bank for the loan. Like a personal loan, the interest rates and the terms differ from lender to lender. Comparing the options makes sure you save considerably in the total outgo of the loan.

Lengthy loan tenure

Longer loan tenure might sound sometimes appealing, as the monthly outgo is smaller. But do not forget that cars are depreciating assets. The vehicle value, especially the new ones, decline sooner. So, keeping longer tenure hurts in different ways. The cost of borrowing gets high due to the four-wheeler loan interest rates. Also, by the time you end up paying the EMIs, the vehicle value depreciates massively in the market.

Making down payment

The loan down payment helps to reduce the overall car loan finance costs. The offers like zero down payment might sound enticing, but if you flip the coin and check the other side, you realise these are marketing gimmicks. Not making down payments never helps. You might need to pay a high amount at a later stage. Make a bigger down payment and enjoy a better price on your vehicle.

Financing of add-ons

Your car requires multiple add-ons such as parking sensors, body cover, music system, seat cover, etc. Taking up all the expenses of the add-ons might get tedious. Some lenders provide financing of add-ons when you apply for car loan.

https://www.bankofbaroda.in/car-loan.htm

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