How to Use Your Car Loan Wisely
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
HOW TO USE<br />
YOUR CAR<br />
LOAN<br />
WISELY
<strong>Car</strong>s may not be smart investments as they depreciate so<br />
quickly, however, cars have become a necessity in our everyday<br />
life. You need it <strong>to</strong> get <strong>to</strong> work or anywhere else. You may be<br />
thinking that if you are considering <strong>to</strong> buy a car, you might as<br />
well get the car of your dreams. Sadly, it is not as easy as that<br />
as well. <strong>Car</strong>s do not come cheap.
You would most likely need a loan <strong>to</strong> be able <strong>to</strong> acquire a<br />
vehicle.<br />
There are many places where you can get a car loan, but, you<br />
need <strong>to</strong> know the difference between wisely spending the loan<br />
and getting stuck with a cool car that you cannot afford.
loans, here are some recommendations that are worth<br />
HOW TO USE<br />
YOUR CAR<br />
LOAN<br />
WISELY<br />
If you want <strong>to</strong> still save after buying a car through your<br />
checking out:
loan, you should have at<br />
Before you get a car<br />
least an idea about your<br />
credit report and score.<br />
Getting a loan is not<br />
like using a credit card<br />
or having mortgages.<br />
1. YOU NEED TO LEARN<br />
AND UNDERSTAND<br />
MORE ABOUT YOUR<br />
CREDIT SCORE<br />
BEFORE GOING TO A<br />
DEALERSHIP.<br />
can get a loan,<br />
Anyone<br />
people with bad<br />
even<br />
Although having<br />
credit.<br />
credit means<br />
bad<br />
<strong>to</strong> pay more.<br />
having
It really pays <strong>to</strong> have an<br />
excellent credit record<br />
and score. Having great<br />
credit normally leads <strong>to</strong><br />
being offered the best<br />
financing rates even<br />
from the dealership. If<br />
your credit is not as<br />
good as you hope for,<br />
2. IF YOUR CREDIT IS<br />
NOT LOOKING GOOD,<br />
MAKE SURE TO GET A<br />
COUPLE OF FINANCING<br />
QUOTES FIRST.<br />
a chance with<br />
take<br />
lenders. You can<br />
online<br />
financing quotes,<br />
get<br />
the offers and<br />
compare<br />
the best one on<br />
pick<br />
table. the<br />
then you may want <strong>to</strong>
You want <strong>to</strong> keep the<br />
term as short as you<br />
can afford. This is<br />
because the shorter the<br />
loan terms, the lower<br />
the interest rates.<br />
Although this means<br />
higher monthly<br />
3. THE SHORTER THE<br />
TERM, THE BETTER.<br />
payments, this also<br />
means saving on the<br />
interest.
however, this is actually<br />
run, you may end up<br />
It may be tempting <strong>to</strong><br />
buy a car when the<br />
offer says “no<br />
downpayment”,<br />
quite risky. In the long<br />
owing more money<br />
than what your car is<br />
4. MAKING A<br />
DOWNPAYMENT IS<br />
BETTER THAN NO<br />
DOWNPAYMENT.<br />
You can avoid<br />
worth.<br />
situation but<br />
this<br />
a making<br />
in the<br />
downpayment<br />
beginning.
more about car<br />
Learn<br />
from the experts<br />
buying<br />
<strong>to</strong>day!
Change language