CoolInterview.com - World's Largest Collection of Interview Questions & Answers, FAQs, queries, sample papers, exam papers, dumps, what, why, how, where, when questions
Our Services
Get 9,000 Interview Questions & Answers in an eBook.




Get it now !!
Send your Resume to 6000 Companies

Search Interview Questions

Question: I am seeking to buy a pre used car on loan. I have read that maximum LTV is between 60 to 75% of the car price. Who determines the price of the second hand car?

Answer: Yes you have heard it right. Car loans for pre used cars come with a LTV of 60 to 75% of the car price as determined by the car valuation expert of the concerned bank. For example you are seeking to avail the pre used car loan from Bank X. After you shortlist your car, you will need to inform your concerned bank. The bank will send its official car valuation expert to check the price of the car. Whatever the car valuation expert would conclude as per the car?s condition, its make, model and other parameters would be the final price considered by the bank. So your LTV will be calculated as per the price determined by the bank.



Category Car / Bike / 2 Wheeler Loan Interview Questions & Answers - Exam Mode / Learning Mode
Rating (0.3) By 571 users
Added on 7/15/2016
Views 4459
Rate it!
Question: I am seeking to buy a pre used car on loan. I have read that maximum LTV is between 60 to 75% of the car price. Who determines the price of the second hand car?
Answer:

Yes you have heard it right. Car loans for pre used cars come with a LTV of 60 to 75% of the car price as determined by the car valuation expert of the concerned bank. For example you are seeking to avail the pre used car loan from Bank X. After you shortlist your car, you will need to inform your concerned bank. The bank will send its official car valuation expert to check the price of the car. Whatever the car valuation expert would conclude as per the car?s condition, its make, model and other parameters would be the final price considered by the bank. So your LTV will be calculated as per the price determined by the bank. Source: CoolInterview.com



If you have the better answer, then send it to us. We will display your answer after the approval

Rules to Post Answers in CoolInterview.com:-

  • There should not be any Spelling Mistakes.
  • There should not be any Gramatical Errors.
  • Answers must not contain any bad words.
  • Answers should not be the repeat of same answer, already approved.
  • Answer should be complete in itself.

Post your answer here

Inform me about updated answers to this question.
Related Questions
View Answer
Is this a good time to buy a car through a car loan or should I wait for interest rates to go down further?
View Answer
Does choosing a car model have any influence on car loan interest rates?
View Answer
How much down payment is generally the norm when opting for a used car loan?
View Answer
Do I get any advantage if I buy a pre used car from a certified seller rather than from the grey market in terms of a loan?
View Answer
Can I prepay car loan with no penalty?
View Answer
What is the maximum loan I can get for a used car loan?
View Answer
How much money can I get if I opt for a loan against my car?
View Answer
I had applied for a car loan but recently the bank reduced its repo rate. Will my loan be effective on new lower rates?
View Answer
Does SBI offer any scheme for buying a used car?
View Answer
Can one time a car loan to get a cheaper loan or is it a myth?
View Answer
What are the major points I should know if i want to go for a pre used car loan?
View Answer
Are loans easily available for high end bikes like a Ducati for example?
View Answer
What is the maximum age of a car to be eligible for a loan against car?
View Answer
I have a car loan running can I still hope to get loan against my car?
View Answer

Please Note: We keep on updating better answers to this site. In case you are looking for Jobs, Pls Click Here Vyoms.com - Best Freshers & Experienced Jobs Website.

View All Car / Bike / 2 Wheeler Loan Interview Questions & Answers - Exam Mode / Learning Mode




India News Network
Latest 20 Questions
Payment of time- barred debt is: (a) Valid (b) Void (c) Illegal (d) Voidable
Consideration is defined in the Indian Contract Act,1872 in: (a) Section 2(f) (b) Section 2(e) (c) Section 2(g) (d) Section 2(d)
Which of the following is not an exception to the rule, "No consideration, No contract": (a) Natural love and affection (b) Compensation for involuntary services (c) Completed gift (d) Agency
Consideration must move at the desire of: (a) The promisor (b) The promisee (c) The promisor or any other party (d) Both the promisor and the promisee
An offer which is open for acceptance over a period of time is: (a) Cross Offer (b) Counter Offer (c) Standing Offer (d) Implied Offer
Specific offer can be communicated to__________ (a) All the parties of contract (b) General public in universe (c) Specific person (d) None of the above
_________ amounts to rejection of the original offer. (a) Cross offer (b) Special offer (c) Standing offer (d) Counter offer
A advertises to sell his old car by advertising in a newspaper. This offer is caleed: (a) General Offer (b) Special Offer (c) Continuing Offer (d) None of the above
In case a counter offer is made, the original offer stands: (a) Rejected (b) Accepted automatically (c) Accepted subject to certain modifications and variations (d) None of the above
In case of unenforceable contract having some technical defect, parties (a) Can sue upon it (b) Cannot sue upon it (c) Should consider it to be illegal (d) None of the above
If entire specified goods is perished before entering into contract of sale, the contract is (a) Valid (b) Void (c) Voidable (d) Cancelled
______________ contracts are also caled contracts with executed consideration. (a) Unilateral (b) Completed (c) Bilateral (d) Executory
A offers B to supply books @ Rs 100 each but B accepts the same with condition of 10% discount. This is a case of (a) Counter Offer (b) Cross Offer (c) Specific Offer (d) General Offer
_____________ is a game of chance. (a) Conditional Contract (b) Contingent Contract (c) Wagering Contract (d) Quasi Contract
There is no binding contract in case of _______ as one's offer cannot be constructed as acceptance (a) Cross Offer (b) Standing Offer (c) Counter Offer (d) Special Offer
An offer is made with an intention to have negotiation from other party. This type of offer is: (a) Invitation to offer (b) Valid offer (c) Voidable (d) None of the above
When an offer is made to the world at large, it is ____________ offer. (a) Counter (b) Special (c) General (d) None of the above
Implied contract even if not in writing or express words is perfectly _______________ if all the conditions are satisfied:- (a) Void (b) Voidable (c) Valid (d) Illegal
A specific offer can be accepted by ___________. (a) Any person (b) Any friend to offeror (c) The person to whom it is made (d) Any friend of offeree
An agreement toput a fire on a person's car is a ______: (a) Legal (b) Voidable (c) Valid (d) Illegal
Cache = 0.03125 Seconds