How to purchase car financially free 100% Best way.

Today, I will show you How to Purchase car financially freeWhen you visit a car dealership, the salesperson will definitely ask you how you intend to pay for the vehicle you want to buy. Tell them that you will be doing so in cash.

This does not mean that you will walk in with a briefcase full of money, as it implies you are not interested in any manufacturer or dealer financing. This is because it is usually not a good deal except in the case where you want your vehicle to be upgraded to the latest model.

Saying this will also deny the dealer the opportunity for making more money by up-charging you. This also lets you focus more on the purchase and features of your new car which is better than stressing about monthly payments. Now, the next step is to negotiate the price of the car, and here are some survival tips you can use on How to purchase car financially free.

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How to purchase car financially free
How to purchase car financially free

 

How to Purchase car financially free.

Do not lease:

Leasing can basically be described as an extended car rental. When you opt to lease the vehicle, it has to be returned at the end of the lease or bought at a predetermined rate from the dealer.

Most of the time, this is higher than what you would have spent on the car. Taking a loan is a better option as the car becomes yours; free and fair. The only payments you make are those of repairs, insurance, and gas.

Opt for factory-certified pre-owned cars:

This is another term for second-hand cars. However, the vehicles normally come with extra assurance when it comes to their condition. This is a smart move as most cars normally lose about 18% of their value within the first 12 months. \

A certified pre-owned car has already been fixed and inspected before it is released to the market. It also comes with a warranty that is backed by the manufacturer, as most new cars do and you can easily know about How to purchase car financially free..

And Also Many Pre-owned cars are available on OLX and eBay STORE.

Know how much you want to spend on the vehicle purchase:

Before you go out shopping for a car, it is highly recommended that you figure out how much you can afford as part of the tips on how to finance a Car purchase. Never let the car dealer influence this.

While figuring out the size of the loan to take, helps to ensure that the monthly payments are not more than 20% of your disposable income. Decide how long it will take to pay off the loan and work with the shortest time possible as these normally reduced interest rates. About 3-5 years is ideal.

Think about all pools of cash:

While it may not be wise to sell investments to purchase the car rather than borrow at an interest rate of 7%, it’s a really tough call to make. 

Never spend any tax-sheltered retirement savings, but you can consider taxable investments if they work to your advantage. It’s also recommended that you avoid taking a home equity loan for the car, as most of the time the prices end up being higher and you can easily know about How to purchase car financially free..

Finding the Best Car Loan:

Where will the loan you will be taking to the dealer come from? Start by figuring out the prevailing rate for a new vehicle loan. This needs to be focused on APR (Annual Percentage Rate) offered by different lenders.

This is the annual cost of the interest rate or the loan. This figure will allow you to compare loans from various lenders. Credit unions (nonprofit banks and member’s only) normally offer better rates than traditional banks. You can also check out various online car lenders like E-loans or Capital One.

Do not be confused by dealers who offer 0% financing or rebates, as the money that is normally saved from these offers has to come from somewhere else. With a credit union loan, you can also negotiate the price of the car.

Should you however select dealer financing, you have to be very careful about the terms you will agree with. Don’t be afraid to walk away and question anything that you are not too sure of and you can easily know about How to purchase car financially free..

Keeping in mind that time is everything; there are some simple ways to work around the dealer when you are negotiating the price of your vehicle, such as:

Shop on Monday or during the end of the month:

Shopping during the early week can help you get good deals as the dealers know that business will not be fast during the next couple of days. The second time to shop for a car is during month’s end because most car dealers normally get bonuses depending on the vehicles sold. If you arrive when they are short a car or two, you may get a great deal as it helps them reach their numbers and you can easily know about How to purchase car financially free.

Look for a car that is about to be discontinued/replaced:

These types of cars normally sell for less. However, it is also important to consider some potential maintenance headaches, as some cars are not popular for a good reason. Here I told you all working ways to know about How to purchase car financially free.

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