Purchasing a new car, either a new model or a second hand vehicle, is exciting.
Car loans are usually secured against the car to be purchased until the loan is completely repaid.
We have asked the experts and searched hard for the tips and tricks to help you get financially savvy.
Following are some of the features that we hope will help you know
where you stand before you start your car loan journey.
Check your Credit Score before applying for a car loan so you have an indication of the interest you could reasonably expect.
Many lenders define your interest rate by allowing for your risk of default (your Credit Score is an indication of this).
Also don’t forget that lenders can register a security interest over your vehicle as security so they can offer you quite competitive rates,
especially if the finance amount is small compared to the car’s total value!