Read This to Get an Insight on HDFC Car Loan Interest Rates


Owning your dream car doesn’t always have to be difficult as you have many renowned lenders helping you to fulfill this dream. Yes, with the help of numerous renowned lenders, your dream of owning a stylish and classy car can be fulfilled in the most hassle-free manner.

But, one thing that needs to be mentioned here is the fact choosing the best lender amongst many is surely not everyone’s cup of tea. It needs thorough research and time to find out the best lender. But many people during their research forget to consider one crucial aspect, i.e. interest rate. Yes, it is no doubt one of the most important parameters that can actually make or break the situation for you.

So, in this article, we are going to give you the brief description about HDFC car loan interest rates. Without wasting any time further let’s just get started…

Currently, the bank is offering the credit at an interest rate ranges between 11.50%-17.50% per annum for new and used car loans respectively. So, if you are willing to avail this credit, it would be helpful for you to be familiar about these rates as through this way you can grab the best deal. Moreover, an interest rate is actually the deciding factor of your overall journey that can either make or break the situation for you.

Try to search a lender that is offering you the credit at attractive rates so that you can reap the benefits in the long run. The lower the rates are, the better it is for you in the future as it eases your burden. What happened, didn’t get the same? Don’t worry, just read the article further to get all the answers…

For example, Dinesh Sharma, a 26 year-old Software Engineer by profession is looking to avail a brand new car. Thus, to fulfill this dream, he has applied for a loan in many banks. And, the best part is that 2 lenders had agreed to offer him a loan amounting to ₹6,00,000. One lender is offering him the same amount at an interest rate of say 15% per annum and another had agreed at an interest of 11% for a tenure of 5 years.

Now, Dinesh has two options, which one should he choose? Which lender is offering him the best deal? What is the best way to know about the same? Well, all he needs to do is just do some mathematics and compare both the lenders on the basis of rates.  So, let’s find out who is going to win this battle?

Scenario 1:

Loan Amount:₹6,00,000

Interest Rate:15% p.a.

Tenure:5 Years


Interest Outgo:₹2,56,437

Scenario 2:

Loan Amount:₹6,00,000

Interest Rate:11% p.a.

Tenure:5 Years


Interest Outgo: ₹ 1,82,727

So, from both the scenarios you can clearly see how a variation in interest rate can actually create a huge difference in your overall loan journey. Going for a lender, offering the loan at lowest rates would be profitable for Dinesh as it will lower his EMIs, reduce his interest outgo thus, lessen the repayment burden. It’s going to be a win-win situation, if Dinesh picks the lender with lower rates.   

But, if you are not fortunate like Dinesh? What to do,if you won’t be able to find a lender, offering you the loan at competitive rates? What if there is no major difference in rates amongst many lenders? Well, don’t be disheartened as there is still hope for you through which you can actually get the lucrative deal. Yes, you read that absolutely right! There are certain factors, if you keep them in mind then you can also grab the best deals. So, what are those points/factors? I am sure, you are curious to know the same, isn’t it? So, let’s just reveal the suspense below….

If you are an existing customer of a bank or had the relationships in the past, there are chances for you to get the car loan deal at best rates. Yes, being an existing or previous customer, you can negotiate for HDFC car loan interest rates and ask your bank to offer you the deal at lower rates. If you have or in the past had fruitful relations with the lender, this negotiation trick is surely going to work for you.

Hope you this trick in mind and get the best deal of car loan in the future!  


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