How does a car loan process? For example a car loan nissan, etc.. Most car dealers show room and have been working with lending institutions such as leasing or the bank. Later, when you've decided which car would you credit, leasing or the bank who will pay for the car first by 100 percent to the show room or a car dealer or a place to sell another car. So that you will repay to the leasing or the bank concerned.
Before the credit agreement you should first determine how much down payment you are willing to pay. For leasing or bank deposit show you are serious about taking a car loan. This means that if you're serious handed down payment, you are also considered to seriously prepare monthly installments.
So roughly how much is the amount of down payment? Clearly the greater the down payment the smaller the mortgage you have to pay. The larger the down payment, the better. Do not be taken in the same DP regardless of the other light. There is a bank or leasing that gives 0 percent cash advance. You can just take the facility, provided you are prepared to pay the mortgage is greater.
The amount of mortgage is also related to how long you take the credit period. The longer your repayment period is usually, anyway, the greater the interest rate credits.So you should compare the amount of installment for each period has to offer. First, select the shortest time period. If the amount exceeds 30 installment of income, then slide into the 2nd year. If it still exceeds, slide back into the 3rd year. If it is still too large, sliding back to the 4th year. If it still exceeds 30 percent, you have to raise more money for mortgage advances fell, according to your ability.
Select Bank or Leasing??After the down payment, mortgage amount and time period you set, the next step is to determine the choice of institutions that finance the purchase of your car. Select a bank or leasing? Banks usually have a number of advantages that are not owned by leasing. Interest rates are lower and more flexible in terms of negotiation when you can not pay the mortgage. But its weakness, in terms of application time, banks losing faster than the lease.
Conversely, if you use the services of leasing, if not paying 2-3 times, you may have to get ready to say good bye to your car. While if the same thing happens, the bank usually prefer to invite to sit together to talk about rescheduling your debt payments.So my advice is clear, if you want a car loan (eg car loans nissan), heed the bank rather than leasing. Coming to the lease if your car loan application via the bank was denied.
But if you have a car showroom "dead contract" with a leasing company you can decide to look for show room, a place to sell cars under contract with the bank, or you end up choosing leasing.
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