Factors that Affect L & T Finance Auto loan

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• Principal- The principal is the L & T Finance Auto loan amount that you avail from the lender or banker. It is directly proportional to your other EMIs - lower principal of loan will lower your monthly instalments and vice versa.
• Rate of interest- The rate of interest is the rate at which the lender or banker offers you the L & T Finance Auto loan. It is also directly proportional to the value of your L & T Finance Auto loan EMIs.
• Tenure- The tenure is the time within which you repay your L & T Finance Auto loan. The tenure is inversely proportional to your other loan EMIs - longer tenure makes the monthly installments or EMI amount cheaper and vice versa.

Things to consider that affect the L & T Finance Auto loan:

1. Income Levels
2. Stability of Income
3. Vehicle or car type 
4. Credit History( loan repayment history)
5. Employment Status for Salaried
6. Business Longevity for Self-employed 
7. Relationship with Lender or banker
8. Category of Your Employer