Best loan option for used car

[sawan005]

I am looking for loan for used car purchase i found the below one. . i need 1 to 2 lakhs lakh for 1 to 18th month emi option - remaining i have cash

- Used car loan - Spinny - 14.99% - reducing rate
- Loan against mutual fund - Groww - 11.49%
- Loan against mutual fund - ETMoney - 9.99% for first 3 month then 10.75% - reducing rate
- Personal loan - Tata neu - 10.49%

For now i think the best option is ET money, but not sure if the interest is on flat rate or reducing rate. Also if you know some better option please let me know.

 

[sawan005]

Anyone ??

 

[strategizer]

I was in a similar spot. From my research Groww has a processing fee of over 1-2% which made it too expensive as a solution for me. I hadn't heard about ET money so cannot comment. I personally had ended up taking my loan from Yenmo- they offered me the loan at 10.45%. To your question it makes a lot of sense to take a loan against your investments instead of a 2nd hand car loan hands down.