Car loan EMIs in India could be pricier

RBI has hiked repo rate, which would result in banks and NBFCs hiking car loan interest rates

The interest rate hike would impact the new car buyers more than existing owners

Existing owners who pay car loan EMI with floater interest rate will be impacted

With car prices going upwards, increased car loan interest rate will further impact buyers

Adding further pressure to this is high rate of petrol and diesel across the country

If you already own a car and pay EMI at fixed rate you won't be impacted

If you are planning to buy a car with loan, be ready to shell out extra

If you are paying EMIs with floater interest rates, you may have to pay extra

The high interest rate could impact the vehicle sales in India in the coming days

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