Car Loans are today possible because of the high residual value of cars and the second hand car market. Usually car loans are provided up to 85 percent of the car value and based on the payment capacity, are flexible too.
However, even after proper due diligence, borrowers are often confused as to how much to borrow. Here’s where Avana steps in. Armed with our competent car loan experts, we help the client to choose the best deal. One needs to understand that the Car is a depreciating asset, so taking a bigger loan is not a very smart thing to do.
Seeing past data, we feel clients would be well advised to restrict auto loan to not more than 20 per cent of their monthly income.