How to finance a car?

8th Dec 2009 by Gary

It has been proven that it is better to buy a slightly used car than a new car, as the momeny you drive off the car lot with a new car you lose a significant amount of its value, and there is a good chance you will have to bring it in for repairs to get the problems worked out of it. For a slightly used car, it's great to buy because someone has already taken care of the problems it may have, and so it is in top shape to use. With that in mind, most used car lots or regular car lots will offer in-house financing for a used car, and that's a great way to acquire one, as your ability to repay is a larger factor than your credit rating. With bank financing the usual measures are in place that make it hard to get a loan unless you have perfect credit, especially in these tough economic times. The best way to finance a car in my experience is then through the car lot itself.

This answer is the subjective opinion of the writer and not of FinancialAdvisory.com