Factors behind the car loan

Feb 6 2010

We know that the internet is the ideal resource to find out and compare Car Loans. We also know that the online car loan calculators make it easier for you to ascertain the monthly repayment obligation and the rate of interest you are being charged.

But there are other factors besides just the rate of interest that influences the selection of a car loan. If you wish to go for an expensive car and cannot af FORD a high down payment, your loan amount required would be higher and consequently also your monthly repayments.

So you need to be careful about the vehicle you wish to buy and ascertain whether you can really afford it. If you are already reeling under some loan pressure, it is advisable to go for something that is really affordable and not something for which you would have to stretch your self. That premium car can wait till another day.

The other factor that can influence the interest rate is whether you would be offering any collateral. Any unsecured car loan will attract a higher rate of interest or you will have to offer a much higher down payment and seek reduction in the interest rate.

More from Financial and Loan News

Created Dec 30 2011

Although car sales have taken a beating through much of Europe during the last couple of years, the prognosis for the UK car market in 2012 is considerably less dire, according to experts at Pricewaterhouse Coopers (PwC).

More from Financial and Loan News

Created Jun 22 2011

Ford’s joint venture in China – Changan Ford Mazda Automobile – plans to soon double its annual production of car engines to 750,000 units.

More from Financial and Loan News

Created Jun 20 2011

The popular insurance website Confused.

More from Financial and Loan News

Created Jun 14 2011

The FSA has announced a range of measures aimed at improving complaints handling standards.

More from Financial and Loan News

Created Apr 21 2011

As most car finance buyers are probably aware, part of the responsibility of the FSA (Financial Services Authority) is to protect motorists against dangerous financial practices.

More from Financial and Loan News

Created Apr 20 2011

In a recent interview with AM-Online, General Manager at BMW/Mini Financial Services, Joe Pattinson, expressed a number of opinions that are of interest to ordinary car finance buyers.

More from Financial and Loan News

Created Apr 6 2011

Those involved in the UK car finance industry will be interested to know that the FLA will be presenting a Debt Recovery for Lenders conference in London on the 18th May 2011.

More from Financial and Loan News

Created Mar 30 2011

The 1p a litre reduction in the fuel duty announced by Chancellor George Osborn in his budget speech is not being fully passed on to UK car credit drivers.