Are there any charges involved in loan processing?

Spinny does not charge any processing fee for the car loan for your luxury car purchase. However, for used car loans, the banks and NBFCs charge between 1.5-4% of the loan amount as processing fees as well as car valuation and stamp duty fee. These charges are deducted upfront at the time of loan disbursement. Lenders also provide loan insurance to safeguard your family and loved ones from financial burden in case of any unfortunate incident at nominal insurance premium and a fee.