Buying a vehicle is a milestone — whether for daily use or business. But timing matters. Here’s when applying for a vehicle loan can save you money and improve your buying power.
Best Times to Apply:
- Festival Seasons: Banks and NBFCs offer discounts, lower interest, and processing fee waivers.
- Year-End/Quarter-End: Dealers clear inventory, offering great deals.
- After Credit Score Improvement: A higher score gets you better rates.
🚗 Tips Before Applying:
- Check total cost of ownership (down payment + EMI + insurance)
- Choose a tenure that balances EMI and interest
- Compare lenders for interest, LTV, and processing charges
Final Word: The right vehicle loan, taken at the right time, can save thousands in interest and give you more choices in models and features.