Car Buying Tips: Buying a Rs 20 lakh car when you have only Rs 3 lakh in your bank account may sound impossible, but it's actually quite doable with smart planning and the right approach. Let's break it down.

Use Rs 3 Lakh As Down Payment

The first step is to use your Rs 3 lakh as the down payment. Most banks and car finance companies require a down payment of 10-25% of the car's price. On a Rs 20 lakh car, 15% is Rs 3 lakh. So you're good to go. This amount will help you secure a car loan for the remaining Rs 17 lakh.

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Get A Car Loan

Visit your bank for a car loan. Many banks offer loans with interest rates between 8% and 11%, depending on your credit score and income. You can choose a loan tenure between 5 to 7 years, which makes the monthly EMI (i

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