Car Loan on low income

Here are some things to keep in mind if you want to buy a car while earning little money: 

1. Check your finances: first, it is the common idea to judge if you need a car in whether you can afford it with your own money remember not only the price of the car but you will also have to be with the other costs that are insurance, registration, and ongoing fuel and repair cost look at your current income and expenses and check if you can pay your EMI on time and all the other expenses.
   
   
2. Get a copy of your credit report: if you want a bandh in Bangalore during a good credit score is very important even if you are left lenders will look at your past payment history to see if you are a responsible borrower if you have a sufficient credit limit they may be persuaded to approve your loan.
   
   
3. Do some research on luxury cars: if you take your time, you can find great deals on used cars.
   
   
4. Be economical: you can save money for a while to buy a car. However, you need to be patient and dedicated.
   
   
5. Credit- income ratio: Make sure you have a balance between your income and your expenses expenditure including current EMI should not exceed 50% of your income if your monthly withdrawal is more than 50% lenders are concerned that you will not be able to repay the loan.
   
   
6. You may need someone to sign with: If you have a low income and do not have the money to withdraw money from a bank you can ask someone else to be a loan guarantee provider. The guarantor or co-signee is legally obliged to repay the loan in the event of default.
   
   
7. Overpayment: if you have a low income you will need to pay a higher rate of the small car loan as lenders are concerned that you will not be able to pay all the money you have paid start saving in advance so that you can pay your bills it would be advantageous to get a very nice payment is your interest rate on car loan  on the reduced principal will below and you will have a low EMI over the loan period.

Unemployment car loans

Unemployed people can get money to buy a new or used car of their choice from a bank or non-Banking Finance Companies, and car dealers in India with you are employed a not driving a car that is not roadworthy can lead to a car accident it is best to change the car into a new car on second hand there are some tips on how an unemployed person can get a car loan.

1. Source of income proof car loan application if you have another source of income Sachin the pension disability income interest income from fixed deposit FD investment return.
   
   
2. Maintain a good credit rating: lenders look at the applicant’s credit rating and credit history to measure his or her creditworthiness if you keep a good credit rating and a good credit history with outstanding fees or debit file lenders can approve your car loan application 750 or more is considered a good credit rating to improve your credit score you have to make any loan payments and credit Bank payments on time early repayment of a loan before the expiry of its term overdue or delete any payment and borrowing can adversely affect your credit score one way you can improve your credit score is to keep the balance between a secured loan home loan and unsecured loan personal loan.