Dealer Wants Me To Buy Car Without Govt. Bank Loan


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Hi,

I have booked a maruti car which is having higher waiting period but i asked them to do some arrangement for me. They called me yesterday and said we are arranging that car for you but you have to pay via online mode without borrowing loan from government bank. If you are in a capacity of paying yourself then we can give it to you. They are also ready to show me the car in their stockyard.
They are also ready to borrow me loan from any private bank they would prefer to me.
I don't understand why they are putting this condition of do not go for government bank loan ?
However i am in a capacity of buying that car at my own. I don't need any loan at all. I am taxpayer but still I don't understand what's the motive behind this condition?

Anyone guide me if anything seems to be wrong here!
 
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Not 100% sure if this is the case. My sister works with a nationalized bank and they bought a car with their own loan and the processing time was too much. It was a holiday week and the whole thing got delayed by more than a week from application to crediting to dealers account. Seeing the delay, dealer was offering umpteen options including HDFC, Axis, etc. Less hassle and easy disbursement might what the dealer prefer like us.

Same with housing loan, she took a loan from their own bank and topping up was so much complicated and time-consuming, so applied from a private bank as personal loan and with zero paper work and video KYC, money got credited in 2 hours.
 
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Not 100% sure if this is the case. My sister works with a nationalized bank and they bought a car with their own loan and the processing time was too much. It was a holiday week and the whole thing got delayed by more than a week from application to crediting to dealers account. Seeing the delay, dealer was offering umpteen options including HDFC, Axis, etc. Less hassle and easy disbursement might what the dealer prefer like us.

Same with housing loan, she took a loan from their own bank and topping up was so much complicated and time-consuming, so applied from a private bank as personal loan and with zero paper work and video KYC, money got credited in 2 hours.
Yes too much delay and I have observed some hidden costs in Nationalized banks. I will not prefer them.
 
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Also, they won't give a clue whether loan approved or rejected unless we run behind them. Private bank will be like, the agent check the CIBIL and do some maths and let us know in 10-15 minutes and at the worst a day, approved, rejected or how much we are eligible. My sister was surprised seeing the ease and wondered why people are still running behind nationalized banks. Interest and final amount was also more or less the same with both parties.
 
Thread Starter #6
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I think you guys are right. Its about delay in loan processing at govt banks and he was also talking about his monthly target to achieve.

I was thinking if any kind of bad motive behind this but it looks normal in market after reading comments.

Thanks
 
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Maruti dealer here tried the same single-car-available-pay-now-or-never bait with a friend of mine when he went to buy Baleno. Same story repeated months later. Like the previous posts, don't fall for it, decide only after checking the car.

(In his story, he went to Toyota and they had surplus stock of Glanza with most colours and variants readily available.)
 
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I have rejected few cars and applied for refund of booking amount. After through PDI I asked bank to disburse loan amount to dealer. These dealers will have contacts with private banks as soon as loan approved they will disburse loan immediately to dealer because it happens minimal interaction with you. Put a ward to bank people, until you say yes to disbursement to dealer.
 
Thread Starter #11
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Good advice guys.

2 days ago he was telling me. We don't have any Ertiga CNG, Its not coming at all, High waiting period and just after 2 days he called me and said if you can pay immediately I can provide you Ertiga in 2 colors (White / Silver). I was surprised with his words. But I just ask him to take loan on it from govt. bank and he said- "Then you should keep waiting. We will sell it to someone else." after that he said - "I can provide you loan from kotok, I know someone there."

One of my uncle told me that don't trust them. They can cheat you because few Mafia / Bahubali type people take cars and don't register it and after few days they force dealer to take it back and give their money back. Then dealer try to sell it to someone instantly, They can manipulate everything to give it a look of new car.

This story was horrible. However I thought why a Mafia will buy a Ertiga in CNG variant. He will go with Innova / Fortuner. That's why I came here to ask on the portal.
 

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