Fixed or floating rate? Choose floating-rate car loan if you plan to prepay

With interest rates peaking, you could benefit from a decline in them

Bindisha Sarang
Last Updated at January 19, 2023 21:53 IST

Auto finance fortunes are linked to the automobile industry which had plant closures in the June quarter

Car sales are surging, and so are car loans. According to Reserve Bank of India (RBI) data, vehicle loans grew 22.1 per cent year-on-year in December. Besides getting a good bargain on the car, select the loan carefully to optimise your total purchase cost.

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