........Do this simple test to calculate the extra payout: Ask the dealer for the cash discount you will get if you were to purchase the same good. The discount will most likely be around five per cent. So, for a product of Rs 48,000, it will translate into savings of Rs 2,400. Two, the processing fees, say, Rs 1,000. For a 12-month loan, if three instalments are being paid in advance, the actual loan is Rs 36,000 for only nine months. Your loss: Rs 3,400 (processing fee plus cash discount loss). The rate of interest is 12.6 per cent..............
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