HDFC insurance/processing charges (Car Loan)

Hopefully by tomorrow evening.  I will do that from a local HDFC Branch & a dealer, say Maruti.

Enormously spot on, yes HDFC and Maruti is the deal for.

Thanks.

Any luck on the post.

I enquired with the local Branch of HDFC & the Maruti dealer but both are ignorant about it. However, will try & gather further info, if possible.

Sorry, didn't have access to Net - therefore, couldn't post this before.

Thanks Pankaj for taking time to post and thanks for your efforts.

I inquired more on this and HDFC bank said that they are dealer sourcing charges and dealer has to bear it but the dealer is not interested and after a good debate with dealer finance manager and bank representative they have refused to bear it.

Now, the ball is in HDFCs court, they have asked me to bear it and they will reimburse in a day or two. So i have taken the delivery of the vehicle and paid the amount. Lets see when they transfer the money to my account.

Will post my VXI review/pleasure in a day or two.

In fact - it will not be acceptable to any dealer.  Banks stand to benefit more from dealer than the other way round.  Therefore, I did find this a bit unusal.  Anyway!!

Sure, please post your review (Review Section) - that will be great & will benefit all. Thanks.

4298 is the suraksha kavach from bajaj and + car insurance  is mandatory if you take loan from HDFC bank..

My Loan Amount is directly credited to dealers account but some 2000/- is less.

Any ideas why is this less? I spoke to HDFC rep, he stated that is Maruti Company and Bank charges but dealer is annoyed seems.

Does any one have ideas on this?

and about the 2000 this is hidden amount which neither the dealer tells you nor the bank, its somewhat tricky,  it is supposed to be paid by dealer to bank as bank comission but some dealers they say that its bank charges and vasul it from the customer they demand the money to customers during delivery time and since we're buying a new car we more often than not give the dealer 2000 rs

In any case, nothwithstanding whether it is right or wrong, there needs to be a transparency - it's unethical otherwise - more on the bank's part (the beneficiary of the charges).

for my logan as well HDFC agent asked for the same I refused to get this policy & theatened to go to ICICI bank.In the end they relented & released the finance amount without this poilcy.Basically it is finance agent's/banks additional income.It is not mandatory.

what is stamp duty? is it non refundable if the bank do not sanction the loan?? or its just the agent trying to fool?