Yes, just like the price of the vehicle, the interest rate is negotiable.
Dealers may have discretion to charge you more than the buy rate they receive from a lender, so you may be able to negotiate the interest rate the dealer quotes to you.
Ask or negotiate for a loan with better terms.
Which bank is best for car loan?
Best Car loan Interest Rates India October 2019
|Car loan Banks||Interest Rates||EMI per Rs 1 lakh for 7 Years|
|HDFC Bank||8.50% – 11.25%||Rs. 1,584 – Rs. 1,725|
|ICICI Bank||8.82% – 12.75%||Rs. 1,600 – Rs. 1,806|
|IDBI Bank||9.00% – 9.10%||Rs. 1,609 – Rs. 1,614|
|Indian Bank||9.00%||Rs. 1,609|
15 more rows
What is the average interest rate on a car loan with a 700 credit score?
But a higher score will almost certainly get you a lower interest rate. At the end of 2017, the average credit score for a new-car loan was 713, and 656 for a used-car loan, according to an Experian report. But nearly 20% of car loans go to borrowers with credit scores below 600, according to Experian.
What is a good interest rate for a 72 month car loan?
The national average for interest rates on a new car is 4.42% for a 48-month loan and 4.36% for 60 months.
Photo in the article by “Wikimedia Commons”