Q. Can I get loan for 7 years? If yes, could I fill the remaining loan at earlier than loan period?

If you are considering taking a car loan, feel free to ask for quotes from multiple banks from the dealership itself. A lot of banks and lending authorities have tie-ups with dealers to offer you easy loan. Or, you can check with your own trusted bank and authorities in case they have a better loan plan to offer.Also, if you are planning to buy a new car on finance, then generally, 20 to 25 percent down payment is required on the ex-showroom price of a car. However, exact confirmation regarding EMI, down payment, interest, loan period and its procedure will be discussed by the bank only, as it depends upon an individual eligibility. For more details, you may connect with the nearest authorized dealership in your city.

A car loan for 7 years (84 months) is possible, but keep in mind that the longer the loan term, the more interest you will pay over the life of the loan. Furthermore, many lenders may charge higher interest rates for longer-term loans. It's also worth noting that some lenders may limit the maximum loan term available. It is usually possible to pay off the loan early, but you should check with your lender to confirm their policies. Some lenders may impose prepayment penalties for early loan repayment, while others may not. If you're considering paying off your car loan early, you should carefully assess your financial situation to ensure it's in your best interests.