| Bank car loans are regulated. This is | | | | extreme caution before financing a used |
| the most important fact that you will | | | | car from any unknown automobile car lot. |
| ever take from this article. This is to | | | | First, there are many used car dealers |
| say that the interest rate charged for | | | | who charge outrageous interest rates on |
| the vehicle loan can only be so much | | | | the cars they sell. They can do this |
| annually and no more. This is not to say | | | | because in our state, the state |
| that banks will give you 100% on the | | | | legislature has voted that used car |
| value of the loan on a new or used car. | | | | dealers bear an extreme risk when |
| Banks maintain extremely fair and | | | | financing any car from their inventory |
| precise actuarial tables and books | | | | to a person with questionable credit. |
| listing the fair value of both brand new | | | | This is the "usury allowance" laws which |
| and used vehicles. They obtain the best | | | | have allowed bad car deals and legalized |
| market value and provide you financing | | | | loan shark businesses to thrive |
| for approximately 66% of the | | | | throughout America. Our state isn't the |
| automobile's cost to you, the buyer in | | | | only one, where greed and avarice dwell |
| the best cases. Their loan operations | | | | you find similar programs. You see a car |
| are excellent because they have the best | | | | that really is the one for you. |
| information in the automobile industry. | | | | Maybe your credit isn't in such good |
| They have the certified blue books, | | | | shape so the bank can't help as much as |
| which show the appraised value of every | | | | you wanted. The "Triple Nasty Car |
| model of car made in the world. They | | | | Dealership" offers you financing, free |
| also keep a close association with all | | | | tags and sales tax on the car of your |
| the automobile dealers in town, | | | | dreams. Only it becomes a nightmare |
| throughout the state and sometimes | | | | quickly when you decide on a car you |
| out-of-state whenever Interstate | | | | really can't afford. The interest rates |
| commerce laws allow it. | | | | on your car payment far exceed what your |
| Therefore your local bank has the best | | | | license tag or sales tax. In fact you |
| information on all the best bargains in | | | | can be making payments of over a |
| used and new cars. It is certain that | | | | thousand dollars a month for a five year |
| you won't have to worry about getting a | | | | old vehicle. A young friend of mine, |
| good deal if you have a good credit | | | | desperate for an automobile, bought a |
| report. This insures your rating in the | | | | used car that she had to pay a weekly |
| eyes of your bank bringing such benefits | | | | car loan payment. Her credit risk |
| as lower interest rates and longer | | | | according to the car dealership, |
| loans. Now this is the bright side of | | | | warranted a loan rate of 258%. The |
| the coin, what I have to tell you next | | | | closing statement is this, make your car |
| is the dark side of the car loan fable. | | | | loan from a recognized bank and get a |
| Throughout the city and state there are | | | | manageable rate. If you cannot finance |
| numerous used car sales lots. Many | | | | from a bank, or a lending association |
| streets here in town are elbow to elbow | | | | carefully look into the repayment terms |
| with used car lots. They look attractive | | | | offered by the dealership. If they are |
| and their price tags seem just right. | | | | exorbitant or too costly then don't sign |
| The prospective buyer should exercise | | | | the loan papers, just walk away! |