Loan on Cars.


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0mnipresent

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Hey guys.
I have a question to you all.If i purchase any car on loan,will the road tax get avoided to me as i am paying interest to the loan amount?[confused]
 
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JohnyBoy

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Interest on the loan is going to HDFC or SBI. And road tax goes to the govt departments. I don't think they have any arrangements to share the revenue.
 
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anshuman8

anshuman8

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0mnipresent said:
Hey guys.
I have a question to you all.If i purchase any car on loan,will the road tax get avoided to me as i am paying interest to the loan amount?[confused]
Click to expand...
No , nothing happens like this, at least in Karnataka. Road Tax will be waived off only for some special cases e.g. Physically Handicapped.

The interest you pay to Bank. The Road tax you pay to State Govt.

Cheers,
Anshuman
 
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