Hi,
Wanted to Know what exactly are Repo Rates and do they have any impact on the price of car?? Also how reliable are online car loan emi calculator tools. Any Inputs on top tools that can be used to estimate car loan EMIs?
Thank You
1 Replies
Divya Rao
(Sr. Finance Adviser)
(26 Points)
Replied 24 November 2017
Hi,
Actually repo rates do not impact the car prices but the EMIs that we pay towards the banks.There is some good news for people who are paying an EMI towards a car loan. EMIs which are paid towards a car loan shall see a reduction as the Reserve Bank of India reduced repo rates by 25 basis points and it now stands at 6%
Car loan EMI Calculator tool gives an fair estimate of the EMIs you will be spending based on the Inputs you provide.I personally loved the interface for this Car Loan EMI Calculator tool. Hope you will find it helpful too.
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