Can Car Finance Actually Provide A Far Better Car?
Here's a question for you. If you had to go out and buy another car tomorrow, what kind of car could you afford if you had to pay cash for it? Depending on what kind of cash you've got behind you, it could be anything from something which is covered in rust to something that has a famous and much sought after badge on the front of it. But if you're anywhere near the lower end of the scale when considering buying a car for cash, you might be better off considering a car loan.
Even ethical used car dealers will not necessarily be looking out for your best interests. They want to sell you a vehicle and give you a good experience, but they likely won't do anything to hurt their profitability.
Can you really get yourself a better car if you opt for a car loan?
Let's think about this for a while shall we? Let's suppose you've got $1,000 in cash available. That's all you could manage towards purchasing a new car. Now you're not going to get much of note with that amount of money, that's for sure.
Logbook loan UK companies are specialists in logbook and payday loans. They understand that most people will need quick financial aid at some point in their lives.
Let's assume then that you sit down and crunch some numbers. You consider your income, what you are already paying out every month and the amount you've got left. After some time you discover that you have enough cash left each month to pay for a car loan of around $5,000.
Now we're talking! Suddenly you have access to five times the amount of cash to get you the car you need and desire. In fact you could have $6,000, if you chose to put the original $1,000 towards your purchase as well.
The term luxury vehicle may be applied to many vehicle types - including sedans, minivans, crossovers, or sport utility vehicles. Consider the huge Hummer SUV and diminutive Gran Turismo Maserati - both luxury cars but completely different in size, price, features and abilities.
So you can see that by working out the figures and seeing where you stand with your finances, you could indeed afford a better car if you take the loan option. However it doesn't mean you must immediately rush out and get a car to the maximum value of the loan you could get.
Luxury car sales is proof of the financial crisis being over, people would not be buying these vehicles if it were not. Although demand moved down in the spring, there is now double digit growth for high end brands such as Porsche, Range Rover and Mercedes.
Why not? If I can get a car loan for a reasonable sum of money, why shouldn't I spend that amount?
Well of course you can if you wish to. But it might be worth taking into consideration all the options here before you make any hard and fast decision. Just because you are offered a loan for a certain amount, it doesn't mean you have to take that loan. Treat it as being able to take anything UP TO that amount, and keep it in mind when you come to start looking at cars. Sometimes it pays to go for something slightly cheaper that could offer you better value for money.
When thinking about luxury, cars are definitely one of the few things that first come to our mind. Luxury is something that hardly fails to attract anyone.
For many people the only way to finance another car would be to take out some type of loan. In this case it will obviously be the thing to do. However, if you are wondering whether to just make a cash purchase, always consider your finance options as well. You could get a great deal on a car loan, keep the cash in your account for a rainy day and get the car you desperately want as well. Now that sounds like the very best of all worlds!
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