Are you sure the minimum duration is 1 year? Here in Kerala, the dealer said the minimum duration is 3 years and the EMI I am paying for the Rs. 1 lakh loan is Rs. 4055 per month (Basic EMI Rs. 3259 + Rs. 790/month for AMC) for three years which works out to an interest of Rs. 45980. Plus I wasn't given any discount because the guy said that no discounts can be offered under this scheme!!! Am I missing something or is the dealer tricking me? I shall ask the dealer again tomorrow.
Regards
Vipin
Regards
Vipin