For now, buying a car on credit is easier because there are many finance or leasing companies that offer offers and facilities to attract potential creditors. Indeed, if compared to having to buy by cash, the way credit is far more popular. Because by buying a car through credit, you can allocate money to other things so that your money is not used up to pay in cash. http://www.2588000.com/title-loan-no-inspection-discover-more-information-about-easy-title-loans-online/ for further explanation
But for those of you who want an auto loan application approved, it’s good to do a few things below:
Contact the Nearest Car Dealer
If you have a friend who works at a car dealer, don’t hesitate to look for information from him. Or maybe you often get broadcasts on mobile phones relating to promos given by a leasing company, don’t hesitate to ask.
Ask if there are good promos given by car leasing to you if you pay by credit? Also, consider in detail both the price and specifications. Don’t forget to ask how long the process of applying for your car loan reaches the acc.
When you are determined to buy a car, you should choose a car that suits your family’s financial budget. It is undeniable that currently there are many variants of prices offered by car manufacturers. There are many choices, ranging from cars that vary to shapes and models that can be adjusted to your choice.
We recommend choosing a car that meets your pocket both in terms of price, model and type. If it is not realistic, then in the future you yourself will be inconvenienced in terms of arranging installment payments each month. If it is not capable you should not be forced.
Choose a Trusted Car Leasing Company
When you have chosen the type and advantages of your chosen car, you should immediately find out which leasing company you will choose. Usually, leasing companies have prepared a lot of offers. Be careful when choosing a car leasing company.
Choose a car leasing company that provides a competitive down payment price, with low interest, a period that is flexible enough and has a price reality that is quite competitive with its competitors.
Consult the Installment Scheme
If you have chosen a source of financing, it is better if you do consultations relating to credit plans that must be adjusted to your ability. Do not be influenced by the lure of the seller. Some things you need to consult are:
Down Payment and Large Installments
It is better to prepare a down payment based on a percentage of the price of the car. The amount is usually around 20-30 percent. As an example, if the price of the car you want is 200 million, then you must prepare 40-60 million. Plus there are administrative costs and other costs.
The greater the amount of down payment you give, the greater the opportunity for you to choose the installment amount and also the tenure of the credit period. In addition, you can also ask for a discounted price so that your down payment becomes lighter.
Choose a credit period that does not exceed the economic limit of your car. This is because, if more than four or five years, more and more extra expenses will be spent on repairs. Even though you still have dependents to pay the car payments. Thus, this will threaten your expenditure to be twice as much.
There are indeed a number of things that need to be understood relating to lending rates on the market. Indeed technically there are two types of interest rates, namely fixed interest rates (flat-rate) and floating rates or follow market rates (floating rates). Please note that in some banks and financial institutions have fixed interest rates, but only in the initial year of the credit period
After firmly choosing which leasing you will choose, there are still a few things to get your car loan application approved, such as: Meeting the complete administrative requirements accompanied by the original documents.
Usually in some areas, if you have a local ID card the process of granting credit will be simplified. This is because people with a domicile ID card in question will be able to be trusted.
Form of a Personal Account
Before deciding to take any credit, you should make a healthy personal account. Because usually, the leasing party will trust all the personal account statements that you have. This is because it involves 5C, namely Character, Collateral, Capital, Condition, Capacity which is the basis for providing credit. Because your personal account statement will take the form of a savings or checking account.
With a healthy account, the lender will trust more. Healthy, in this case, does not only mean that the money coming in is bigger or more in amount.
Healthy, in this case, is your account whether income or expenditure must be balanced and must be an active surplus. Active surplus, in this case, means that your personal account even though the income is not much but in nominal income can continue to grow.
In this case, it can be interpreted that it can still be saved, or it can be used to cover unexpected personal expenses. Although a little, but in your personal account, you are active every month, whether it’s debit or credit.
Consider It Well
Consider carefully whether you really need a car at this time or not. Adjust to your needs and ability to pay. Do not just because you want to have your car in debt which will ultimately have an impact on your expenses and your household budget later.
Even so, hopefully, a few tips so that approved car loans can be useful for you. Well, for those who want to apply for a used car loan, it can be seen here.