For the Four Wheels

by Honey

Cars are an everyday necessity. Owning your own transportation
sets you free in more ways than one. What if you need to change
your car for a better one or want to buy a new car but can't pay
in lump sum? Well, the most obvious option is to opt for a
car loan after you have chosen your dream vehicle.

You might be taken for a ride if you are loose with your details
when acquiring a car loan. Car loans could be HP or Hire
Purchase kind of loans or they could be in form of PCP i.e.
Personal Contract Purchase. In this kind of a loan an amount
which is a part of the total worth of the car.

When going for a car loan you can opt for a broker or a
bank. A still better option will be to opt for on line
comparison rates for various car loan available in the market.
You can compare car loan rates and schemes from hundreds
of lenders operating in UK.

Opting for a car loan budgeting is a crucial aspect. While
calculating the cost of the car do not limit the amount to
actual cost of the car. Include the maintenance, fuel and
insurance cost so as to have a real estimate of the total
expense from your income.

Also, when calculating the amount of repayment the loan will
cost you should not look at just APR non inclusive of discounts
or special offers by dealers. Focusing on a single aspect could
lead to a myopic decision! If you are going for an option of
exchanging your car then take care of the tiniest details.
Beware of dealer , things like cleaning the car throughly inside
out before taking it to the dealer can affect the price quote.
Taking a
car loan you should take a prudent decision based on the
various aspects discussed above taking care of your unique
circumstance at the same time.

About the author:
Honey is a leading finance consultant.
Here he talks about smart way of opting for car
loans.