You are excited to begin the New Year with a bang! You have already found out your dream car and cannot wait to bring it home. But, will the lender approve your credit application? Will he offer you a loan amount to match the cost of the car plus taxes and registration fees? Learn how a lender decides on the LTV ratio; play the cards right and get the best deal.
It is never a good idea to rush into things, especially when considering a long-term auto loan. Obtaining a long-term auto loan has its own pros and cons. While the pros include reduced monthly payments and the opportunity to repair your damaged credit; the cons include high interest rates and a high probability of a lower resale value on your car.