Planning to buy a car? Minimise tenure, maximise down payment on loan

Selling the old car independently, rather than going for an exchange offer, may fetch better value

Car dealerships across India are offering discounts ranging from Rs 25,000 to above Rs 1 lakh this festival season. The discounts are higher this year than they were in 2022. Here are a few useful tips for striking a good deal both on the car loan and car purchase.  
 

Compare loan offers

Compare loan offers from multiple lenders – both banks and non-banking financial companies (NBFCs). If you fail to do so, you could miss out on attractive deals.  
 

Says Adhil Shetty, chief executive officer, Bankbazaar: “Each lender may have different interest rates and loan terms, which can impact