I will be applying for a car loan shortly, and trying to evaluate various lender schemes. I was not really sure when its mentioned as
No Pre-Payment Penalty or Foreclosure Charges
Let say I have an EMI of 1k. If at all I wish to pay a little more than that lets say 1.5k will I be charged? Or do I need to do it as part payment once in a while? On their brochure it does not mention any thing about part payment apart from what mentioned above.