Why Mahindra showroom of Guwahati refused to provide Gusto on 0% interest rate in spite of news paper advertisement for the same?
Mahindra doesn’t publish any such advertisement to sell its product on 0% interest rate so it might be published by some finance company, we advise you to stay away from such schemes as such zero per cent schemes have hidden costs inbuilt. Perhaps the biggest loss for you would be forfeiting the cash discount on a product that you could have otherwise got if you had bought it on full payment. This apart, you will also be paying a transaction or processing fee under the zero per cent scheme and consequently more money through advance EMIs so unfortunately, you end up paying more than what you actually think you are paying.
Thanks to the regulations of the Reserve Bank of India (RBI) many banks have now stopped from offering such schemes for financing consumer durables. But still there are several NBFCs which continue to offer these so-called zero per cent finance schemes.