Bigger car loans, longer tenures face rate-hike test

Indian car buyers are increasingly taking out larger and longer loans to purchase higher-priced vehicles. This trend emerges as borrowing costs are projected to rise following the Reserve Bank of India’s recent rate hike. Data shows that the average vehicle loan amount has risen significantly, while the repayment tenure has also increased. Interestingly, the demand for vehicles remains strong across both urban and semi-urban markets.
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