New Delhi, Nov. 2 -- A well-planned loan can make buying a new car more affordable and enjoyable. When taking a car loan, focus on the repayment tenure, the monthly EMI and the total outlay, since each affects the overall cost of borrowing.

Without proper planning, however, a car loan can become hard to manage later. Responsible borrowing and careful management of the loan are essential.

If you are planning a Rs.10 lakh car loan, compare repayment tenures, actual loan offers (not just headline interest rates), and the lender's credibility.

These factors, when kept in check, can go a long way toward striking the right balance between monthly affordability and the overall cost of the loan and its management.

According to Paisabazaar dat...