Car Dealer Finance

Car Dealer Finance

Car Dealer Finance - General Information and Tips about Car Financing:
- An unsecured loan is aimed at people who do not have any collateral to take out a secured loan. Therefore an unsecured loan is perfect if you do not own your home. With an unsecured loan you can borrow between �1,000 and �25,000.
- The amount borrowed is subject to an interest charge, and the interest rate applied is known as the Annual Percentage Rate (APR).
- Organise your own finance. Pay by cash, or organise a personal loan yourself. Don't use manufacturer or dealer finance.
- Some people like to buy a car and arrange the finances at the same time. It can be quick and convenient. Most manufacturers offer finance through their dealer networks.

Car Dealer Finance - Glossary of Terms:

Negative equity - If your car is worth less than the amount you have left to pay off the loan.

Credit Report: Credit bureaus collect information about your credit history-where you owe money, how much you owe, your credit cards, and your payment history.

0% Finance - This is a special deal where you pay no interest on the loan for a specified period.

Your Credit File consists of details of your past and present financial activity and is held by companies known as Credit Reference Agencies.

Equity - This is the difference between the value of your car and what you have left to pay off the loan.

Interest Rates are how Lenders make money on your loan - they will charge a certain percentage of your outstanding loan, which will be added to the loan balance. Interest rates are usually quoted as the APR.

Car Dealer Finance information.


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