Financing a Car
Seven out of 10 new cars are financed, and you can also finance
your dream car.
Car loan is the most popular and most flexible option when
financing a car, especially with current low interest rates
Are you in the market to buy a new or used car? If you are like
most people, do not have the cash to purchase the car that you want.
loans can provide you with financing that you need.
You can get an car loan from a bank, credit union or other
financial institutions. You can have these loans approved before
you ever hit the showroom (a major plus in most deals). These
sources of financing will usually offer the lowest rates you'll
find, and credit unions are generally lower than banks.
in the position of being a 'cash buyer' enabling you to
negotiate a better price.
A personal loan gives you the flexibility of buying a car
privately rather than through a dealer.
You can sell the car at any time if you wish to do so.
The car is owned by you at the outset and the loan is not
secured on the vehicle.
- The interest
rate will usually remain fixed throughout the term enabling
you to budget with certainty.
If you take the loan out in a period of high interest rates
then the initial rate will usually be fixed for the period of
Tips on finding and buying a car
Buying a car is exciting, but there are a few things to
remember. Use this checklist to help you through the process.
Car Loan can help you before you
go shopping for a car, this way you know how much you can spend
and will feel more confident in negotiating a better deal from
There are a number of places you can
look for a car, each have their share of advantages and
Used Car Dealers
Car purchased from a used car dealer can be less expensive
than those purchased from new car dealers. A used car
dealer may specialize by make, price or vehicle type, Used car
dealers vary considerably in size and the stock held.
New Car Dealers
A new or used Car purchased from a new car dealer often has
a warranty as specified by the manufacturer or the respective
State governments legislative requirements for older vehicles
that have had the manufacturers warranty expire.
Generally specializing in a particular brand of car. New car
dealers can also stock used vehicles of the same brand and other
brands which they may have traded-in or purchased from another
source of sale.
in the numbers
Interest rates on new cars are lower than on used Cars. And,
in general, new cars can be financed over longer terms than used
ones. This equation can make a new car cheaper than a used one
in many cases.