Saturday, January 20, 2007

Auto loans can never be easire than this

HOW TO BUY A NEW CAR

There are two "best times" to buy a car.
  • The end of December is a good time for car buyers to buy a new car.
  • Another good time to buy a car is July to October as new car dealers sell off cars at low prices to clear space for new car models.

HOW TO BUY A USED CAR

Before you begin your search for a good deal on a used car, spend time considering many of the same factors that would apply to a new car purchase: how will you use the vehicle; how long do you plan to keep it; and your budget for the purchase, including insurance, operation, maintenance and repair costs.

If Budget is top priority then you rather buy a smaller car that's newer than a large car that's older. Owning a larger car will cost you more as the running costs - fuel, maintenance, tyres, spares are costlier. The best bet is to look for something almost new - Two years or younger.

CAR LOAN TIPS

Financing a new car purchase requires some research. Before venturing out to the car dealerships uninformed, let's take a look at what you will need to know about the car buying process. First of all, about 70% of all new car purchases are financed. So unless you plan on paying cash for your new car, or you are going to apply for a car loan, chances are you will be financing your purchase.

You should look at financing your car as a four-step process:

  1. Determine your financial situation
  2. Decide which car you want
  3. Do your home work
  4. Go to the car dealers

TYPES OF CAR LOANS

  1. Car Loan With Fixed Interest Rates
  2. Car Loan With Variable Interest Rates
  3. Car Loan With Adjustable Interest Rates