cars - Top 5 Tips For Buying A Used Car

While you can get a great bargain by purchasing a second hand car you can also get nothing more than an old banger if you don't take care. When it comes to purchasing a second hand car from a private dealer there are different rules than if you bought from an established dealer. One of the biggest differences are your consumer rights - or lack of them. While there are many honest and trustworthy people out there selling used cars there are also some "dodgy" characters and of course sometimes it is hard to tell the difference. One of the best tips when buying a car from a private dealer is to pay a small fee to have a car data check carried out. This will check such things as the previous owner of the car, mileage data associated with the vehicle and if there are any problems relating to finance or insurance. When going to look at a second hand car sold by a private buyer you should consider taking someone with you who knows about cars. If you don't have someone who knows enough about cars and what to look for when buying second hand then it could save you money and heartache in the long run if you were to pay a mechanic to go and look over the car with you before committing yourself to purchasing it. When buying privately make sure that you learn as much as you can about the make and model of the particular car that you are going to look over. Do an online search through used cars for the model and make sure that you have a very good idea of what that particular make and model is selling for. When buying privately always make sure that you go and look over the car in daylight. If the seller is wary of letting you do this then it is very likely that they have something to hide. The seller should be able to answer all your questions willingly about the history of the car. If they tell you they don't know or are unsure because they are selling the car for a friend or relative then you should stay clear and look elsewhere. They should also be able to provide you with all the necessary documentation relating to the cars history. If you are buying from a dealer then be aware of all the added extras which they could try to entice you with and ask yourself if you really need them. Also be careful when it comes to taking any payment protection insurance associated with any car finance through them as this can boost the price up drastically of the car. MotorCarLoans offers a free to use and independent service for car finance and car loans. We also provide car insurance as well as other car-related products such as breakdown cover, gap insurance, car warranty, as well as useful articles and guides. Article Source:http://EzineArticles.com/?expert=Louis_Rix cars - New Car Loans - How Much Can You Afford To Borrow? Before you start car shopping, first figure out what you can afford for a car payment. Look at your budget, research auto loans, and investigate lenders. Once armed with this information, you can choose a car that you can both enjoy and afford. Expense Of A Car According to the FCIC, a car payment should be less than 20% of your after living expenses budget. While this is a good number to start with, you will want to look at your own budget numbers. Be sure to include other miscellaneous car costs, including fuel, insurance, and licensing fees. You will also want to plan on a down payment and enough cash for the initial license, registration, and sales tax. Terms Of Auto Loans Auto loans vary with their terms rather than financing options. With a down payment of at least 10%, you can expect to find reasonable rates. While you can find auto loans with zero down, rates will be much higher. In fact if you can put down more than 10%, you will save more money in interest charges than if you get a lower rate. Another way to pay less for your auto loan is to opt for a shorter term. You can get a seven year loan, but you are adding hundreds of dollars for those lower monthly payments. However, base your decision on what you can afford with your budget. Auto Loan Lenders Auto loans aren't simply limited to your dealership or local bank. You can find hundreds of online financing companies who can offer you a great deal. Take a couple of hours to request quotes. Compare the rates and terms to select the best deal. Even if you have poor credit, still check with conventional lenders. More and more are offering sub-prime lending. You may be surprised at the low rates offered to those with damaged credit. You can also opt to be pre-approved, which will give additional leverage when negotiating your car deal. The application process is handled online, and you walk into the dealership with a blank check. The loan is finished when you fill in the amount and sign final paperwork.