Car Loan Scam?

Описание: Buying a car on loan? Don’t just ask the interest rate—ask whether it’s a flat or reducing rate. 🚗💰
Many dealers advertise loans at 8%, but don’t always explain how the interest is calculated.
For example, on a ₹10 lakh loan for 5 years at 8%:
📉 Reducing rate → Interest ≈ ₹2.17 lakh
📈 Flat rate → Interest = ₹4 lakh
That’s a difference of nearly ₹2 lakh 😳
Before signing the loan agreement, always confirm how the interest is calculated. And remember—you don’t have to take the loan from the showroom. Compare offers from banks and other lenders first. 🏦
Share this with someone planning to buy a car on EMI. 📲