| When considering used car loans you must remember | | | | entirely on your own if a problem comes up. There are |
| to give a lot of thought to the car itself. There are a lot | | | | some advantages of going in for a new car (if you |
| of things for you to do. Go to a dealer with a decent | | | | can afford it) if the criteria for the loan is the same as |
| reputation. Sometimes you'll get dealers who don't | | | | that for a used car loan. For example you will enjoy a |
| check the cars they have thoroughly so it's a good | | | | longer warranty period. Dealers give limited warranties |
| idea to select a car which is still under warranty. | | | | with used cars so keep that in mind. |
| Looking at cars with one previous owner only is a | | | | The most important things to keep in mind about car |
| good idea. You need to inspect the car thoroughly. If | | | | loans, whether for used cars or new are: |
| you don't know much about cars and buying used | | | | * The interest rate |
| cars then take a mechanic along or have one check it | | | | * The time you will need to repay the loan |
| out by appointment. | | | | * The price of the car and whether it is worth it |
| You may like a particular car because of its looks. But | | | | Consider all of the three so that you will be satisfied |
| don't forget to get under the skin - beware of | | | | with your car and your loan. Sometimes dealers offer |
| salesmen who will try to get rid of a problem vehicle. | | | | incentives like lower interest rates if you take the loan |
| Look for extras like air-conditioning and heaters. Power | | | | from them. Pay back your loan on time and without |
| adjustable seats and CD players with satellite radio | | | | any hassles and you'll find your credit-worthiness going |
| are great to have. Find out what kind of mileage you | | | | up. This is always great for business. The second |
| can expect both in town and out on the highway. | | | | factor is as important as the first. A 60 month long |
| Test-drive the car under both conditions. Drive it more | | | | loan period may make the monthly payments smaller |
| than once if you need to. Don't forget, you're the one | | | | and seem attractive but you will be paying a lot of |
| who has a loan to repay. | | | | interest over that period. Also, such a long period is not |
| Coming back to financial considerations you must keep | | | | a good idea when you are buying a used car. Buying a |
| within your budget. Don't think about a Hummer or an | | | | used car is a bit of a shaky venture - you may |
| Escalade if you make about $20,000 a year. The | | | | experience severe problems long before you've |
| amount you can get is determined by your credit | | | | finished paying for your car and you don't want that. It |
| worthiness and ability to repay. Some dealers may | | | | is with used car loans as with most things in life; |
| offer you incentives for buying a car with few miles on | | | | always do your homework. |
| it. Older cars are bought as is. This means you are | | | | |