Can you help me to understand down payment procedure?
By: srijata on 24 january 2015
As you are residing in Delhi and your parents are in Puna and car is intended to be used by parents at Puna, best thing to do would be to purchase the car at Puna itself. Taking your parents address as residence address. If its own house then there wont be much problem in getting loan. If main consideration is about cost savings by purchasing in Delhi, you will have to pay road tax in Pune as per rules of Maharastra State govt. The overall expenditure would be almost equal to the amount with which you purchase at Puna itself. In short, if you have branches of your office at Puna and your parents house at Puna is own house then it would be easy to get the car purchased under loan in Puna itself. Otherwise, check if you can purchase car at Puna in your parents name and supportive assured payments of loan EMI to be credited to loan account on time. A detailed talk with loan provider agent at dealership would make things very easy.
Sonal Gupta 2015-01-28
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