What is the interest rate for Honda WR-V car?

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Q : What is the interest rate for Honda WR-V car?

Honda WR-V EMI

Ex-showroom Price of Honda WR-V : ₹ 7,00,000
Loan Amount : ₹ 5,95,000
Down Payment : ₹ 1,05,000

Document Charges : Rs.250
Processing Fee : ₹ 2,975
12₹ 51,693View Chart
24₹ 27,030View Chart
36₹ 18,832View Chart
48₹ 14,750View Chart
60₹ 12,315View Chart
72₹ 10,702View Chart
84₹ 9,560View Chart
A : The interest rate for Honda WR-V is Honda WR-V Interest Rate

The term Interest Rate means the amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of assets. Interest rates are typically noted on an annual basis, known as the annual percentage rate (APR). The assets borrowed could include, cash, consumer goods, large assets, such as a vehicle or building. Interest is essentially a rental, or leasing charge to the borrower, for the asset's use. In the case of a large asset, like a vehicle or building, the interest rate is sometimes known as the "lease rate". When the borrower is a low-risk party, they will usually be charged a low interest rate; if the borrower is considered high risk, the interest rate that they are charged will be higher. Interest is charged by lenders as compensation for the loss of the asset's use. In the case of lending money, the lender could have invested the funds instead of lending them out. With lending a large asset, the lender may have been able to generate income from the asset should they have decided to use it themselves.

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