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Author: admin | Category: Lease Car Calculator | Date: 30.11.2014

With car dealers successfully edging banks out of many new car loans, banks have turned their attention to the used car market. Naturally, rates can vary a lot, based on how old the car is, how long the loan term is, and the buyer’s credit.
Rates are rising in part because used car loans have become more popular, as have stretched-out loan terms. While it can be easier to get financing for a used car purchased at a dealership, it’s possible to get an auto loan for private party used car sales, too.
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Bob Sullivan is author of the New York Times best-sellers Gotcha Capitalism and Stop Getting Ripped Off. Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Please note that our comments are moderated, so it may take a little time before you see them on the page. Car Loan in Crossing Republik, Ghaziabad becomes more important as this part of NCR including Lal Kuan and Vijaynagar Ghaziabad does not have good public transport - especially during night hours. Picture this - You have made all preparations to roll your dream car out of the show room and suddenly you get to know that your car loan application has been unapproved.
You may be thinking of applying a used car loan to purchase a second hand car that can at least get you to and from your workplace. It is also important to note that banks usually charge a higher APR for a loan meant to purchase a used car than for a new car. We provide loans for an entire range of commercial vehicle, Pic up trucks, light commercial vehicles, buses (inclusive passengers and school buses), medium and heavy commercial vehicles, trailers etc.
Our balance transfer advantage helps you to easily transfer an existing loan from another finance institution or bank to us at attractive rates. Until recently, bank loans for used cars were tricky to get, and were much more expensive than new car loans. Today, more than half of used car purchases are financed, and used car loan volume keeps setting records, according to Experian.
According to Experian, average rates for used car loans are roughly double than those for new cars. They can help keep monthly costs down, but they come with a caveat — the upside-down loan.
As a result, rates, fees and terms for credit cards, loans and other financial products cited in these articles may have changed since the date of publication. His stories have appeared in The New York Times, the Wall Street Journal, and hundreds of other publications. This compensation may influence the selection, appearance, and order of appearance of the offers listed on the website.
Any opinions, analyses, reviews, or recommendations expressed here are those of the author's alone, and have not been reviewed, approved, or otherwise endorsed by any issuer.


It is said that it is wiser to become an expert by driving a used car than to purchase a new car and get scratches on it.Used Car Loan in Delhi is not tough to get. You can approach your bank in which you hold a bank account for auto loan or you may contact some other bank.
There are many places you can source these types of loans from including banks, credit unions, auto dealerships, and various online financing companies in your local area. For example, companies offering this type of loans provide flexible terms and conditions with low APR deals.
First and foremost, keep in mind that most financing companies including online lenders will hardly finance you if you are planning to buy a used car that is five or more years old. Expect to pay close to 2% higher APR for a used car loan than you would for a new car loan. For the quarter ending in June, the average used car loan term was 62 months, and 16% of used car loans were even longer — both records, Experian said. When you finance through a dealer, the dealer knows exactly how much loan you can afford, giving them a bit of an upper hand in the negotiations. Buyers at these lots consent to restrictive terms, such as agreeing to pay the monthly bill in person, and can pay rates as high as 30%. Please be sure to verify current rates, fees and terms with credit card issuers, banks or other financial institutions directly. He has appeared as a consumer advocate and technology expert numerous times on NBC's TODAY show, NBC Nightly News, CNBC, NPR's Marketplace, Terry Gross' Fresh Air, and various other radio and TV outlets. Several banks and NBFCs have special teams to look after used car loan section, as this is a big market.
Mostly the residents here work in Noida, New Delhi, Gurgaon, Sahibabad, Dadri, Greater Noida, etc. It becomes embarrassing as by the time you plan to drive your new car home, you end up informing all your relatives and friends. Online lenders have become quite popular for this type of loans due to an increased number of borrowers with less than desirable credit scores who cannot access bank loans. Approval for the loan is fast, easy, and hassle-free since the vehicle you purchase acts as the loan’s collateral. The reason for this reluctance is because any car that is five or more years old is more likely to break down than one which has been on the road for only two or three years. It’s better to settle financing before you head to the used car lot, and to pay with a pre-authorized car loan check you get from your bank. The website does not include all financial services companies or all of their available product and service offerings. Several young people look after to get a big used car like a Honda City or an Audi A8 than get a new Maruti Wagon R or a new Hyundai i10. It becomes too difficult a task to commute without own conveyance.To make car loan easy in Crossing Republik, Ghaziabad, Car Loan Delhi NCR have started their service in Crossing Republic and in Lal Kuan Ghaziabad, Vijaynagar Ghaziabad and Pratap Vihar Ghaziabad too. Most online financing companies normally charge a lower interest rate than banks and credit unions.


Having the car as collateral effectively reduces the loan’s risk factor which translates to a lower interest rate. It is common to pay the same interest for a used car loan among online lenders as you would for a new car loan elsewhere. Used car loan consumers with poor credit should know their rights when they shop around for and take out a loan.
You may approach HDFC Car Loan, Mahindra Finance, Axis Bank Car Loan, Magma Car Finance, etc for Used Car Loan. At the same time, the number of online lenders has also increased in response to the increase in borrowers leading to stiff competition among lenders and better rates for borrowers.
Most importantly, avoid jumping into the first offer you get from the first company you come across while browsing online. And don’t neglect a phone call to your local bank or credit union, which might match any rate you can find to keep your business. Often, the dealer is acting directly as the lender in loans like these, which means the dealer must comply with all Truth in Lending requirements, such as accurate disclosures. Any missing document can lead to auto loan rejection.Negative verification of Work and Home Address - Banks and NBFCs send third party to verify a car loan applicant's home and work address. Secured used car loans have a lower interest than unsecured loans since they are backed by collateral of higher value. Ask for different quotes from different lenders including banks, auto dealerships, and credit unions before you make your decision.
In case of no one verifying these two places in favor of the auto loan applicant, the car loan gets declined.CIBIL Score being low - A bad credit history leads to low CIBIL Score, this in turn leads to outright rejection of the car loan. Take time to consider important factors such as the time you need to pay the loan and whether the used car you want to buy is worth the entire cost of the loan. Having tie ups with several leading Car Loan service providers like - SBI car loan, HDFC car loan in Crossing Republic, the residents can expect professional service by best auto loan agents Delhi-NCR. The above mentioned reasons for car loan rejection can easily be taken care by an expert auto loan agent. A good car loan agent provides you all the information before applying for a car loan on your behalf making the process of approval of auto loan easy and smooth.
An experienced car loan agent from Car Loan Delhi NCR helps you to fill the vehicle finance application form carefully so that there remains no pend-ency or any mistake.
Cheapest car loan rates are offered by some of the leading banks such as – HDFC car loan, SBI car loan, Axis Bank car loan in Delhi.



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