Can You Afford a Car Loan?

Car Loans : Why Is a Car Loan A Cost Effective Option

by Amanda J. Keppel

A personal car loan offers you necessary amount to purchase a new car. Now you can flaunt your new car to all your neighbors and friends and make them feel envy. Personal car loan turns your dream to reality.



It's not easy for most of us to afford a car when we have to meet all other expenses at the same time. Personal car loan will enable you to buy a car, when you don't have sufficient resources. It can be availed in two ways- secured and unsecured personal car loan. With secured personal car loan, borrower is required to offer any property as collateral with the lender. He enjoys low interest and small monthly repayments. However if you fail to payback the lender, he has the legal right to repossess your property.



Whether you want to buy a new car or an old car, a personal car loan will provide you the fund. Personal car loan is better than financing through car dealer or financer in the sense that it carries much lower interest. You will also be provided with some other lucrative facilities if you buy your car with a personal car loan.



With a secured car loan you can avail car loans at lower interest rates, on the other hand with an unsecured car loan you will have to pay higher interest rates. As far as the repayment terms are considered, you will get a shorter repayment term with an unsecured car loan. But with a secured car loan you can enjoy a longer repayment term.



A personal car loan can be availed by you despite your bad credit record. But to avail the loan with suitable term and condition you can explore the market. Taking quotations and making comparisons among various lenders will enable you find out the suitable loan package.

About the Author:

Obtain updated advice on Car Loans and get free access to loan articles written by financial people by visiting http://loans-pages.info, a popular website that provides loan information and advice.

Should You Refinance Your Car Loan?

When Does Refinancing Your Car Loan Make Sense

by Jay Anderson

So you are considering a refinancing car loan to make your payments more affordable. Did you know that not only will it make the payments less, but in the long run it can save you money in interest if done correctly? You need to look at your current circumstances.



If you have purchased a car in the last year or two, you know that the excitement of purchasing a new vehicle can sometimes overwhelm you. Instead of paying attention to the interest rate and trying to get the lowest one possible, some people are so caught up in the moment that they end up with a higher rate than they wanted.



Rates vary from dealer to dealer and state to state. Some people have reported getting an interest rate of almost 19 percent, which is ridiculous, even in a bad economy or with bad credit. The interest rate is dependent upon several factors such as your credit, the price of the vehicle you are purchasing, and how long you are financing it. It also depends on how much effort you put into shopping around for the best rates!



There are several programs available to help you to reduce your interest rates. A second chance finance offer can lower your interest rate by up to 11 percent. Refinancing car loan payments can make sense if you think about the long-range advantages as well as the current ones. Yes, you will have a lower payment but you can also save thousands on interest depending on the price of your car.



Take, for example, a car loan financed for 84 months at 12.6 percent. If you can get your interest rate lowered to even 8.99 percent and a year cut off the financing time, a savings of $7,647.79 in interest payments are realized. Now this is really when a refinancing car loan makes sense. Remember, you are no longer financing the entire brand new cost of the car, but only the outstanding balance where you have already reduced that balance from the payments you have been making to date.



The good news is that not only do you save money on interest but when your car is paid off, it will have a higher value than if you had not gotten the year cut off the financing time. Another year of wear and tear on the vehicle makes the value go down, so in reality it would be worth less than if you paid it off a year earlier.



Typically a typical finance rate on a 60-month loan is 8.99 percent with decent credit. However, with nine cuts in ten months by the Federal Reserve Board, who knows what the typical rate is going to be today or tomorrow. One thing that does tell you though; now is the time for a refinancing car loan.



One thing you should take into consideration when you are weighing your options about whether or not to refinance, is how the interest rate on the loan you have now is calculated. If it is a simple interest loan, you are being charged interest everyday on the balance of the loan.



Can you pay your car off early or is there a prepayment penalty for this? This is one thing of many factors you need to know about your finance company. Even if you do not have good or excellent credit, you can apply for a refinance. If you refinance, is your state going to charge you a fee for changing the name of the lender on the title of the car? Some states do and some finance companies pay this while others do not.



It just makes good economic sense to check into a refinancing car loan. If you only save $500, that is money that you can use on other things in this day and age, like maybe, gasoline.

About the Author:

For more information and additional insights about a Refinancing Car Loan as well as getting a free online refinance car loan quote, please visit our web site at http://www.car-loan-resources.com/car-loan-refinancing.php

Car Electronics

Worthy Electronics For The Common Car Enthusiast

by Chris Channing

Electronics have always been popular among consumers, but the electronics industry found a match made in heaven after being paired with the automotive industry. Ever since, consumers have been fast at work in finding new ways to put all types of electronics in their cars. The results, as it seems, have been quite astounding.



The most basic of all car electronics is the car alarm. The proper car alarm will be able to ward off attackers who would want to do damage or steal items in the car or even the car itself. To protect against such tragedy, car owners should always obtain a car alarm first. Even if one doesn't have the best looking car of them all, even a sub-par vehicle is quite costly should it be stolen.



It's tough to conclude if the DVD player present in cars today is too distracting or worth the trouble in obtaining. For drivers, there is obviously not much to gain. But for passengers and small children, there is no better way to keep passengers entertained than to invest in a DVD player. The only point to worry about is the fact that drivers may become distracted from such items.



Avoiding an accident, such as in the case of the car alarm, is important for car owners. Although it wouldn't seem to handy at first, the HID lighting systems available today are almost necessary for those driving in rural areas. These HID lights are brighter, cleaner, and more efficient- meaning they will be better in avoiding animals and pedestrians. They also look great compared to traditional lights- which gives credit to one's reputation.



GPS devices are also very popular on the car electronics market. After all, there is nothing worse than getting lost while on a vacation or on the way to a certain location. If one lives in the city, it's almost a mandatory purchase. Otherwise, it's great to have around so that missing a turn or even finding shortcuts is possible. And thanks to 3D technology, the whole process can be viewed in interesting perspectives.



Lastly, electronic air horns are all the rage in the customization scene. It is genuinely unique to have air horns fixed to one's hood. Although this look isn't for everyone, it certainly brings out nice features in bigger vehicles such as an SUV or truck. Some large cars, like the Cadillac, also do well with being fixed with such a horn.



In Conclusion



In the end, there are too many options in car electronics to cover such a vast topic in one sitting. Investigating the different types of entertainment, functionality, and help that comes from such electronics is vital for the avid car enthusiast to get the most form their car. If nothing else, an electronic car alarm should be obtained so as to keep an investment that has been made in one's car. And in the end, it's not always about many features one can stuff in their car- but to choose the right ones (No one really needs a DVD screen in the rear view mirror do they?).

About the Author:

Learn more about Car Alarm Systems and HID Kits.

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