Car loans are turning out to be as the main lender of capital to people who want to buy cars but are short of funds. Usually now days with advent of loan marketing, loans are provided on spot to the customers who want to purchase a car, and it depends upon the customer to take or choose the different offers that are being offered to them by the loan companies.
As the cars are being offered from the showroom or the shop, the rates and the rules of the loan meted out usually remains the same and very low, so as to attract and lure more and more customers towards their loan scheme, because there are companies waiting to have a go at the customers and if the loan rates of the scheme meted out is higher then obviously the customers would go for the other loan giving companies who give out loan at a much lower rate.
But this is not the case with the car loans that are given out for used cars. The rates that are charged by the loan giving companies usually differ from each other as it is on the discretion of the loan giving companies.
Therefore, it is advised that before taking or choosing a loan, the customer should make proper research of the rates that are prevailing in the market. He or she should not jump at once to grab a loan if the rate offered is low. There are bound to be companies which offer better rates. The customer should go through all the schemes and then apply for a used car loan that suits him the best. And if no loan suits his interest then he can always go back to the first loan that was offered to him at a low rate of interest.
A customer can register online or can go and directly collect the forms. The person should however compare the loan rate that is being offered to him. The customer can search online for the prevailing market loan rates; or rather collect the rates directly from a local lender. This way he will have an idea of the lowest rate offered. Before taking up a loan however, the customer should also take into consideration, the number of months for repayment.
There are online lenders who usually offer used car loans at a very low rate of interest, which comparatively is even lower than the rates that are usually offered by the banks. And moreover usually banks reject the applications of car loans, if it is for a used car.
Thus we see that a customer should make a complete research regarding the rates offered, to pick up the best offer.
These days purchasing a used car is certainly a good option, both practically and economically. You can find many varieties of used car available in market to check out. Another advantage is that you can get a new model and get rid of your old one. One more reason could be is that in case someone has bought a new car may have end up in financial mess, so could go with selling a car and buying a used one. Whatever could be the reason purchasing a used car eventually benefits the users.
In fact a new car is generally considered as a fresh car if it is a year old. Such cars you can find it at amazing discounts of 20 to 40 % from the present market price. So here you are not only getting a new car, but you are as well saving much financially. This does not mean that 2 year old car is worst; it is just that you need to check it and if the used car expert advise taken then buying any old car could be really beneficial. On the other hand, you must be ready to face certain limitations when buying used car. Your financial charges could be little high when compare to the new car. Yet it is a good decision to go with used car and you would save high considerably.
Negotiation Tips for Used Car
Know while talking to a used car salesman or a seller you need to control your emotions. Do not go hyper, so no wows and no oh’s. At the same time do not express any disappointment or any fury in any kind. Just learn to play it with deadpan and accurate. Below given are few examples of the conversation you might have to come across.
1- If the salesman asks you to see the car and then have a talk on the price then you must carry on talking and attempt to make the salesman quote a cost. This way you could work out if the salesman is strong-minded about the value of the car or not.
2- In case the salesman states that the price is not to be discussed or is somewhat flexible. You should make him realize that you are a serious buyer and does not desire to squander the salesman’s time in addition to his time. Further you must stress that you are interested in little lesser price and this would offer a thought on how negotiable the salesman is.
3- If you feel that the used car is apt for you, but the value is little high, then you could leave your contact number with the salesman, requesting him to contact you back in case the seller lessens the price.
