Is the Hyundai Creta the Perfect SUV for Indian Roads?

The Creta stands out in India for being attractive, having a strong engine, and an enjoyable cabin. People often decide to get a loan for a Creta because it is a high-ticket car, priced between ₹11 and ₹20 lakhs ex-showroom.

In this post, we’ll discuss what makes this SUV so successful, inspect the latest options and updates, evaluate popular financing options for buying a Creta, and highlight important costs you should be ready for. Also, we’ll provide tips to help secure favorable loan conditions. Let’s get started! You must talk to a personal loan DSA for additional help. 

Why are So Many People Buying the Hyundai Creta? 

The Creta is a hit in the mid-size SUV segment thanks to its striking design, high level of comfort, and powerful engines. Its stylish design and comfortable interior have made it a strong favorite among Indian motorists. More and more people are realizing why the Creta stands out from other mid-size SUVs.

1. Its design catches the eye with thick, angled lines, cool illumination, and a very smooth look.
2. The interior features seats covered in leather, a sunroof, and a big multimedia center with a 10.25-inch touchscreen.
3. You can opt for a 1.5L petrol or 1.5L diesel model with 115 PS or go for a 1.4L turbo diesel with 140 BHP.
4. There are additional safety devices such as airbags, ESC, hill assist, and round-view parking cameras. If you take care of your Hyundai, it can retain most of its value for the next person.

Check out the Popular Variants in The Market 

Hyundai has created the Creta in various trims to meet the requirements of various customers. The entry-level E version with a 1.5-liter petrol engine starts at roughly ₹11 lakhs. The EX diesel model comes with a price tag of around ₹13.5 lakh, and its turbo petrol equivalent is priced roughly at ₹16 lakh. The price of the fully loaded SX(O) diesel variant is around ₹20 lakhs, stated on-road.

Choosing the Perfect Loan Options 

Buying the right car will become an easy process if you choose the loan options correctly. Keep reading to learn some of the important aspects of car loans in India. 

1. Benefits of Getting Car Loans

Securing a car loan for a Hyundai Creta allows you to avoid paying a big down payment. Monthly installments make buying a Hyundai Creta more affordable. You can select a repayment period that matches your financial circumstances, as options vary from 1 to 7 years. Interest rates begin as low as 8.5% annually. Several lenders provide fast processing so you can access your funds quickly.

2. Check Out the Top Lenders

A number of banks and NBFCs provide car loans for the Hyundai Creta at attractive interest rates and with choices in repayment terms. Customers can expect rates from 8.5% to 10.75% for terms up to 7 years with HDFC Bank. 

You can choose between 8.80% and 10.30% interest for loan repayment over a period of 7 years. ICICI Bank ranges from 8.75% to 11.50%. Bajaj Finance finances the Creta at rates from 9% to 12% for up to 5 years, and Kotak Mahindra offers terms from 9.25% to 11.75% for 7 years.

How to Decide on The Best Car Loan? 

Picking the best car loan will enable you to pay less interest in the long run. 

1. First, compare the interest rates offered by banks and NBFCs since lenders sometimes provide lower interest rates in advance.
2. Be aware of processing fees, which fall within a range from 0.5% to 2.5%, but may be waived during specific offers.
3. Choose an appropriate tenure; short terms mean lower interest, and long spells offer lower EMIs. Use a popular DSA app to learn about car loans in India.
4. Make sure there are no prepayment charges and keep your credit rating above 750.

Some of the Additional Costs That You Have to Bear 

You should also take into account insurance costs, as it is required and may run up to ₹25,000 to ₹40,000 per year. Though it increases the price, adding a zero-depreciation cover gives enhanced peace of mind. 

Total fees differ based on the state and typically cost from ₹1 to ₹2 lakhs. The company provides optional maintenance plans and additional warranty options starting as low as ₹15,000 and going up to ₹30,000. You must gather all other information before proceeding.