As Robert Jain and other names in the world of finance can attest, car financing can be a challenge if you're not prepared. With so much information that can be found online, or through your finance specialist, it's easy to become overwhelmed. One of the ways to make things easier for yourself is knowing some of the common myths regarding car financing. These are just a few that deserve to have light shed upon them.
"The best deals go away quickly." Just because deals are only good for certain stretches of time doesn't mean that they can never come back. In fact, dealerships will run deals on a regular basis to incentivize buyers to visit their lots. Even if the same exact deal you saw last month doesn't appear, you're likely to find one that's just as good, if not better, if you shop around enough. Bob Jain, as well as other authorities on finance, will say the same.
"You should always buy a car online." One of the reasons this particular myth continues to circulate is the idea that virtually everything seems to be cheaper online. While the accuracy of this statement is debatable, it should be noted that you can get the same affordable price in person that you saw online. Most dealerships are good at honoring these prices. Furthermore, you'll still have to negotiate other expenses, like insurance, so it's not like the price you saw online will be the exact one you have to cover.
"You won't be able to pay off your car early." This is yet another car financing myth that many buyers seem to take as fact. If you have the means, it's entirely possible to pay off your car early. In fact, it's recommended that you do this so that you don't have to continually pay interest on your car over the next several years. You'll still have to pay for insurance, which is typically a monthly cost, but the car itself can be bought in full as soon as you'd like.
For those that have been looking to purchase cars, financing is a topic worth researching. No matter how much information you find online, it's encouraged that you read up on every detail. After all, it's possible that what you've learned isn't one hundred percent accurate. By taking the time to comb through all the little details, you will be able to purchase a car that you've had your eye on without breaking the bank.
"The best deals go away quickly." Just because deals are only good for certain stretches of time doesn't mean that they can never come back. In fact, dealerships will run deals on a regular basis to incentivize buyers to visit their lots. Even if the same exact deal you saw last month doesn't appear, you're likely to find one that's just as good, if not better, if you shop around enough. Bob Jain, as well as other authorities on finance, will say the same.
"You should always buy a car online." One of the reasons this particular myth continues to circulate is the idea that virtually everything seems to be cheaper online. While the accuracy of this statement is debatable, it should be noted that you can get the same affordable price in person that you saw online. Most dealerships are good at honoring these prices. Furthermore, you'll still have to negotiate other expenses, like insurance, so it's not like the price you saw online will be the exact one you have to cover.
"You won't be able to pay off your car early." This is yet another car financing myth that many buyers seem to take as fact. If you have the means, it's entirely possible to pay off your car early. In fact, it's recommended that you do this so that you don't have to continually pay interest on your car over the next several years. You'll still have to pay for insurance, which is typically a monthly cost, but the car itself can be bought in full as soon as you'd like.
For those that have been looking to purchase cars, financing is a topic worth researching. No matter how much information you find online, it's encouraged that you read up on every detail. After all, it's possible that what you've learned isn't one hundred percent accurate. By taking the time to comb through all the little details, you will be able to purchase a car that you've had your eye on without breaking the bank.
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To learn more regarding what you have just read, kindly consult Bobby Jain.. Free reprint available from: Robert Jain: Debunking The Most Common Car Financing Myths.
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