Should You Finance A Car Or Pay Cash?
Posted on 18. Dec, 2008 by admin.
This is an age old question. The answer is it really depends on you. The benefits to paying cash for a car are obvious. You will save money on interest. You will not have a car payment to worry about each month, You will own your car free and clear which means you could potentially use it as collateral for another loan. If you decided to sell it in the future, you would be able to keep all the cash from the sale. When looking for the benefits to buying a car with cash, there are just too many reasons to count.
The flip side to that would be the benefits to financing a car. When you finance a car you are building up your credit. Every time someone extends credit to you and then you make your payments regularly and on time, you improve your credit score. Another benefit is that you would be making smaller payments at a time. If coming up with a big lump sum of money will cause a strain on your budget then buying a car with cash might be out of the question for you. It’s up to you to decide where you are financially and make the choice that suits you best. Remember, any loan you take out will be carried with you in to the future, so make your decision wisely.
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Financing A Car You Can’t Afford
Posted on 30. Nov, 2008 by admin.
It is generally not a good idea to finance a car you can’t afford. There are a few tricks you can use to get yourself into one of these beautiful rigs. If the car you want to drive has a payment way out of reach then consider this. There are fleet vehicles available for very reduced prices. Fleet vehicles come in any number of make and model. You can find anything from a rugged pickup truck to an elegant Cadillac. All you really need to do is find the place selling the fleet vehicle, and go from there.
Many companies that use fleets of vehicles will buy new cars on a regular basis. This means that a lot of these vehicles are still drive perfectly. If the company used their cars to drive VIP’s around the big city, they are likely to be very clean and well kept as well. To find these cars you can look at local auctions and auction websites. Some of these sales will also be announced in your local paper. To get financing for these cars, you may need to go to a private lender, some banks won’t lend to you unless you are purchasing from a car lot.
By taking your time to find a good company selling off their fleet, you will be able to finance a car you normally wouldn’t be able to afford.
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Car Repair Finance Companies
Posted on 22. Nov, 2008 by admin.
It is common for someone to take a car in for a tune-up only to find that there are hidden damages they knew nothing about. If you don’t have the money on hand for the repairs, you could be put on the spot. You know that you shouldn’t drive it but you need to get it fixed as soon as possible. Your car is your livelihood, you need it to get to work, buy groceries and everything else.
This is when a car repair finance company will come in handy. They are not your traditional car loan company. These companies specialize in smaller loans which most banks won’t even be bothered with. If you have fairly good credit or some sort of collateral this type of loan should be easy for you to get. You can get this type of loan for around 60% of the value of the vehicle. Some lenders will carry the loan for up to 20 years making the monthly payments minimal. You can get one with a FICO score as low as 575. If you find yourself in a situation that requires assistance to get your vehicle back on the road fast, a car repair finance company might be the answer you need. Have a look for one today, and get in touch with them soon.