When it comes to buying a new car, a majority of buyers opt for a car loan to finance their purchase. All that you have to do is pay a certain amount as the down payment for the car, and the rest is covered by the car loan (which the borrower then pays back in equated monthly instalments (EMIs) over a pre-decided term or tenure.
At Maruti Suzuki, we identified that finance for a new car can be simplified and made better for the customers. With the introduction of Maruti Suzuki Smart Finance, a first-of-its-kind online platform that offers end-to-end solutions for your car financing needs, we intend to do just that.
When it comes to availing a car loan, Maruti Suzuki Smart Finance has you covered. That being said, here’s more on how you can get your car financed end-to-end:
Decide on a Down Payment
The money that you pay upfront from your pocket towards the purchase is known as the Down Payment. Before you finance your new car, the first thing you need to decide is the amount of money you are able to pay as a down payment. This will help you determine the loan amount that you need to avail for your car loan from Maruti Suzuki Smart Finance.
Finding a Good Interest Rate
At the time of repaying the car loan, you are required to pay back the amount you borrowed plus the applicable interest. It is very important that you compare different offerings before choosing your preferred interest rate for the car loan. With Maruti Suzuki Smart Finance, you can explore car loan offers & customize your EMIs, down payment & the interest rate from a number of banks, which allows you to easily choose a suitable loan with a low interest rate.
Choosing a Loan Tenure
The loan tenure is the period that is agreed upon by the lender and the borrower for the borrower to repay the loan amount as well as the interest. While some might opt for shorter loan tenures of say 2 or 3 years to save on the interest they pay, others may go for a lengthier loan tenure that results in more affordable EMIs.
Consider the EMI
What you will have to pay as EMI for your Maruti Suzuki ARENA car will depend on a number of factors like the loan amount, interest rate, and loan tenure. In the end, you need to ensure that the EMI is an amount that you can pay each month without it becoming a burden on your finances.
You can use the Maruti Suzuki Smart Finance EMI calculator to get a better idea of the same. To calculate the EMI, select the Maruti Suzuki ARENA car you wish to buy, enter the down payment amount, interest rate, and loan tenure and you will be shown your final loan EMI.
End-to-End Solutions by Maruti Suzuki Smart Finance
From being able to customise the down payment for your Maruti Suzuki ARENA car to choosing a preferred interest rate for your car loan,Maruti Suzuki Smart Finance promises seamless car finance. It offers a host of loan options from multiple lenders and partners, based on your needs and geography. Explore customised financial products, check out exclusive offers, upload and validate your documents online, and get your loan disbursed with just a few clicks. All you need to do is follow these 4 steps:
• Login & Select Your Favourite Car
• Compare & Select The Best Offer
• Upload Documents Online
• Financier Verifies And Sanctions Loan Online
Let’s make your car finance a hassle-free affair!