Here are some smart tips to save you from car loan EMI pressure

With RBI hiked repo rate, car loans are about to get costlier for vehicle buyers and owners

A hefty amount of car loan EMI can impact your financial health severely

Before buying a car always assess your financial strength and the recurring costs that involve the model you want to purchase

If your budget permits you to buy a small hatchback, don't opt for a premium SUV which is beyond your reach

While buying a car, try to make a sizeable downpayment to keep the loan amount less

A large downpayment may put pressure on your pocket initially, but it will help you in long term

Every month, try to repay a bit extra money than your original EMI amount

Repaying a bit extra than the EMI every month would help you with reduced loan tenure

Try to make part or pre-payment of car loan to save on interest and to shorten loan tenure

Read more about how to repay car loans smartly
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