Car loan

chaitu..... (Querist) 22 March 2012 This query is : Resolved
hello sir, last year i paid Rs.7547/- as income tax, how much can i get for car loan i want to buy an hatchback atleast Rs. 6,00,000/- (6 lakhs) needed?

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A V Vishal (Expert) 22 March 2012
Kindly approach any banker who can do the needful to you.

Kiran Kumar (Expert) 22 March 2012
we are not financial agents...better call some finance company or bank associate :)

Raj Kumar Makkad (Expert) 23 March 2012
It is the prerogative of the banker to assess the capability of the loanee on various parameters so nothing can be commented here on the basis of merely a fact told by you about yourself.

Sudhir Kumar, Advocate (Expert) 23 March 2012
Is is a legal query?

Ghanshyam Prasad (Expert) 23 March 2012
Approach your bank.

Guest (Expert) 23 March 2012
Good question for your teacher, at least! Student of which class are you?

Shonee Kapoor (Expert) 23 March 2012
Only bank can assess and pass the loan.

The bankers are generally wary of extending loans whose installments are more than 1/3 of your monthly income.

Regards,

Shonee Kapoor
harassed.by.498a@gmail.com
s

Guest (Expert) 24 March 2012
Dear Shonee,

The querist is a student and his question seems to be a classroom exercise. He has stated only the amount of incometax paid by him not the monthly or yearly income earned by him. Naturally, he is expected to work out the income also and then calculate the loan amount. But, he seems to be desirous of getting a spoonfeeding from experts to answer his classroom exercise.

V R SHROFF (Expert) 24 March 2012
It seems you must have shown total income of Rs. 4-5 Lakhs : So you are eligible for car loan upto abt 8-10 lakh : So no problem
{ I asked my ca]

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