New Delhi: To purchase a car through a finance plan, customers are required to make a down payment. But now, a new plan has been launched that allows you to purchase with zero down payment. You can even purchase a car without a down payment and bring your favourite car home directly from the showroom.
Under the plan, the bank finances the entire on-road price. You then repay the amount based on EMIs. Banks will only offer loans if you have a good credit score. The biggest advantage of this service is that customers don’t need to make a large initial deposit. This allows them to save their savings for other important expenses.
Some major banks offer car loans.s
Some of the country’s major banks offer car loans. Companies like SBI, HDFC, Axis Bank, and Bajaj Finance offer this facility. The application process is quite simple, meaning fewer documents are required.
If someone wants to buy a car worth ₹60,000, they normally have to pay a down payment of at least ₹10,000. However, now, under the Zero Down Payment Scheme, they can purchase a car without paying any money. Zero Down Payment Car Loan Schemes offer significant benefits to customers. Applicants must meet certain income, employment, and credit score criteria.
Car ownership has become easier with this facility
This facility has made car ownership much easier. This will especially help young and middle-income groups fulfil their dream of owning a car.
This change in the vehicle purchasing process will strengthen the Indian auto market and increase economic activity. For your information, many companies in India offer down payment options. Customers can easily purchase with a convenient down payment.
Companies come up with such offers to boost sales. The festive season has already begun. People like to buy vehicles on the occasion of Diwali and Dhanteras.