Tuesday, December 8, 2009

Car financing options

After a home, the next-largest purchase you'll make is probably a car. When you have decided to buy a car, the next question is how to finance it. To finance the purchase of a car, you have three choices: paying cash, getting a loan, or leasing. Since automobiles are expensive, many people do not have the cash available to buy their cars. If you decide to get a loan to buy a car, you should shop around for the best financing deal and read the finance contract carefully.

Personal loan is one of the most common debt for most people. Personal loans are offered by commercial lending company such as bank or credit union. The interest rates of personal loans vary from bank to bank. Comparing interest rate can be the best way to get the best financing deal. Most of banks and finance companies only approve loan application from people with good credit history.

If you have a good credit history, you are lucky because you can get loan easily and a borrower with a good credit record can usually get a better interest rate. But if you have a bad credit, you still have a chance to get a loan. Today, many finance companies offer personal loans for people with bad credit.


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