Will the EMI be less if the downpayment is more? I am interested in buying the Nissan Terrano and loan facility.
By: yamyam on 11 january 2016
You would need to pay less in general if you make more downpayment. Since the interest is calculated on the remaining amoun that's there to pay. Also, less the number of installments, the duration of interest period also decreases so you ultimately have less to pay.