Top Banks Offering Car Loans
Sampath Bank: 8.5% interest, up to 7 years, 20% down payment. Commercial Bank: 9.0% interest, up to 6 years, 25% down payment. DFCC Bank: 8.75% interest, up to 7 years, 20% down payment.
Loan Calculation Example
Rs 5,000,000 vehicle with 25% down (Rs 1.25M), 8.5% interest over 5 years = Monthly payment Rs 82,500. Total paid Rs 4,950,000 + Rs 1.25M = Rs 6.2M total cost.
Tips for Best Rates
- Maintain good credit history
- Higher down payment = lower interest
- Shop around - rates vary by 0.5-1%
- Pre-approval before car hunting