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Even if you go to a local dealership without securing a loan beforehand, it really is doable to apply for a loan, get the funds, and drive off in a new auto on the same day. Buying a auto is a key monetary investment, even if you buy a utilized model. To make the cost far more manageable, quite a few drivers pick to finance their vehicle with an auto loan. When you finance a vehicle, you spend for the automobile in monthly installments, rather than one particular lump sum. Interest paid on housing loans is allowed as a deduction to the extent of 2 lakh in respect of self-occupied property.