First car loan: EMI, down payment, and hidden fees
Super Admin · 20 Aug 2026
How lenders price risk, when a longer tenure hurts, and the documents you need before the showroom visit.
Aim for a 20% or higher down payment so the EMI stays comfortable. A longer tenure lowers the EMI but raises total interest — run both a 5-year and a 7-year number before you sign.
Watch processing fees, hypothecation charges, and forced add-on insurance from the dealer. Bring ID, income proof, and the quotation so the lender is not the only one holding the numbers.
