Categories : Auto Repair

 
Here’s how you can prevent paying Rs 12.7 L for a car that is worth Rs 8.9 L CHENNAI: When buying a dream vehicle, automobile loans are an unassailable saviour. Gone are the days, when individuals would bulk up money endlessly to buy the mean metal. Thanks to immediate credit, purchasing the hot wheels of option is lot easier both because of the range in automobile models and versatility of banks to lend money. But wait. If you look closely and do a basic arithematic, you will find that these loans might not be actually saviours. They suck more cash from you than you should be in fact paying. Why? For one, your loan includes high interest component. 2, your vehicle value diminishes with time. Banks provide loans as much as 100% of the ex-showroom price, unlike in the past when 70-80% value was loaned. Besides, the period is being included 7 years from the typical 5 years. The longer the tenure, the lower the EMI, but it culminates in more interest. For example, of the five vehicle designs that we looked at, consumers would wind up paying Rs 2.5 lakh to Rs 3.8 lakh more through EMIs for a period of 7 years. If the possibility of cost effective monthly EMIs prompts you to choose that treasured purchase, you ought to know a bit about negative equity. It is a potential insolvency, which emerges when the marketplace value of a home or a possession falls below the outstanding quantity of a home mortgage secured on it. With time, the Insured proclaimed value (IDV), which the insurer places on your vehicle to approximate the worth, falls 10-20% every year, thus minimizing your investment on the dream device to next to nothing! Negative Equity It is a prospective insolvency, which develops when the marketplace value of a building or a possession falls listed below the outstanding quantity of a home mortgage secured on it EMI determined on display room cost in Chennai Loan tenure: 7 years 3 ways to beat it Disclaimer: We appreciate your thoughts and views! But we need to be judicious while moderating your remarks. All the comments will be moderated by the NIE editorial. Abstain from posting comments that are profane, defamatory …
< a href=https://www.google.com/url?rct=j&sa=t&url=http://www.newindianexpress.com/business/news/Heres-how-you-can-avoid-paying-Rs-12.7L-for-a-car-that-is-worth-Rs-8.9L/2016/05/23/article3446298.ece&ct=ga&cd=CAIyGjI1YTRlZTIxNWI5ZmE5YjE6Y29tOmVuOlVT&usg=AFQjCNGBdrl6tORu01VO5GqgRx_hvzuiBw target="_ blank

“> See all stories on this topic

James Hinchcliffe takes Indy 500

pole in dramatic style INDIANAPOLIS– Sam Schmidt had rather a day Sunday at the Indianapolis Motor Speedway. Schmidt, a former Indy vehicle driver who was rendered paraplegic in a racing mishap 16 years ago, demonstrated new innovation that allowed him to drive a Chevrolet Corvette around the Speedway at speeds topping 150 mph. It was a tear-jerking moment, to be sure. But Schmidt’s story was upstaged a couple of hours later on when his Indy vehicle driver James Hinchcliffe claimed lead for the 100th running of the Indianapolis 500. Editor’s PicksHinchcliffe wins Indy pole a year after near-deathOne year on from a dangerous crash at Indianapolis Motor Speedway, James Hinchcliffe claimed pole position on Sunday for the 100th running of the Indianapolis 500. One year earlier, Hinchcliffe lay in an Indianapolis medical facility, fortunate to be alive. On a practice run in the run-up to the 2015 Indianapolis 500, a component failure sent his car veering into the wall; when a suspension arm pierced his thigh and pelvic region, he nearly bled to death. Only the quick reaction of the IndyCar Security Vehicle Team kept him alive, and the 28-year-old Canadian missed out on the remainder of the season while recuperating, lastly going back to the vehicle in late September for a test at Road America. Hinchcliffe’s psychological return to Indianapolis started in effective style last week when he qualified and finished third in the Grand Prix of Indianapolis on the IMS road course. He published the fastest time in preliminary Indy 500 qualifying on Saturday prior to earning his very first profession Verizon IndyCar Series lead in awesome fashion for the greatest race in the series. Hinchcliffe was the last driver in line making a four-lap qualifying run, and he edged out Josef Newgarden by 0.06 mph with a 230.760 miles per hour average. Ryan Hunter-Reay made it 2 Americans on the front row and two out of 3 for Honda in its battle with Chevrolet. For Hinchcliffe, clinching the pole was an achievement worth much more than the $100,000 prize and …
See all stories on this topic

You may know another individual or company that needs auto, truck, or diesel repair... or even on site fleet service. Please tell your friends. It's much appreciated!