Auto News Desk – On the occasion of Diwali, a large number of people like to buy a new car (Diwali Car Offers 2024), but how can a new car be brought home without making any payment (Zero Down Payment). We are telling you in this news.
How to get zero down payment facility
Generally, banks provide facilities like zero down payment on purchasing a new car to some of their special customers. But before giving the offer to the people who are given this facility, many types of verifications are also done by the bank.
CIBIL is necessary
CIBIL is very important to avail facilities like zero down payment from the bank. If a person has a good CIBIL score, the bank offers facilities like 100% car payment in less time and with attractive interest rates. However, if your CIBIL score is bad due to some reasons, then you may face difficulty in taking the loan even after making the down payment.
Offers are available quickly on low priced cars
The price of the car is also important to avail the facility of zero down payment on the car. Usually companies easily give such offers on low priced cars. But if a person wants to take advantage of such an offer on a high priced car, then many types of verifications have to be done by the bank.
These reasons are also important
To take a car loan, the bank verifies some other things along with the CIBIL score. The bank requires income proof, Aadhar card, PAN card, ITR and some other documents. Along with this, the bank also checks whether the borrower is not running any other loan.
What is included in zero down payment
If you get an offer from the bank to buy a new car with the facility of zero down payment, then it also includes the ex-showroom price of the car, car registration, road tax and insurance. Apart from this, some customers also take some accessories or extended warranty from the showroom while taking delivery of their new car. But most banks do not give loans for them.
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