If you want to purchase a vehicle like car and you haven't the enough money, then go for vehicle loan/car loan.  Almost banks give the car loan for medium car. Before taking loan a person must check the bank gives how much loan on which type of car. 

A car loan is about two aspects:

1. Car loan for new car

2. Car loan for 2nd hand car

In both cases the interest rate differs. 

In case if you want to purchase the new car then the  interest rate is 9.25% - 13.75%.

But if you want to purchase the 2nd hand car then the interest rate is 12.50% - 17.50%.

So, it is good to buy a new car, due to the interest rate in case of 2nd hand car is more.

When a person takes the car loan from the bank, the car purchased from that loan is kept by the bank at its property till a person repay the loan.  The amount a person gets in case of car loan depends on the persons Age, Salary and on the Bank.

A person gets 80% - 90% or 100% depends on the bank.

Expenditure on the car loan: 

a. When you apply for the car loan the bank take the processing fees.

b. It will be the 0. 4-1 percent of the loan amount.

c. If a person repays the loan before the time, then the bank charges a fee for early repayment.