When you are browsing for an Auto Loan / Car Financing, you will have to visit branches, call the call centers or go through a sales agent to collect information. This process requires a fair bit of time and effort. Moreover, you will have to do this multiple times to form a comparison and select the best deal for your Auto Loan / Car Financing. Comparebanks.com provides you with all the information you need about Auto Loans / Car Financing in one window – quick and reliable information.
A critical piece of information in deciding which car you can afford is what the monthly payment for your Auto Loan / Car Financing would be.With comparebanks.com, you can quickly calculate how much your monthly payment will be. You will also be able to easily identify which bank is offering you the Auto Loan with the cheapest monthly payment. However, before you decide to pick the cheapest monthly payment loan, be sure to read our FAQ section!
When you opt for a Auto Loan / Car Financing on a new vehicle, please keep in mind that the vehicle registration cost is not included in the financing amount. Similarly for used vehicles transfer of registration cost is not included in the financing amount.
Whether you’ve taken a Auto Loan for a new or a used car, banks require you to insure the car. Some banks have relationships with insurance companies to provide special rates to their customers. Please keep in mind that this is also an upfront payment for one full year, which is not included in your monthly payments or loan amount, after which the next year insurance is charged in monthly installments.
Trackers are devices that track your vehicle using GPS. All insurance companies offer their services with and without trackers. Some banks require you to have an insurance policy that has a tracker as well.
Let’s say you’ve secured a 7 year Auto Loan / Car Financing. Approaching the second year, you get a bonus from your office or an unexpected profit in your business and decide to pay off your car loan earlier. Banks typically charge a certain percentage to allow you to pay off your loan before its tenure or duration is over. If you feel such a situation may arise in your Auto Loan agreement, please ensure you know what that early settlement charges are.
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