Wednesday, June 11, 2008

Auto Finance

There are still many young people who do not have the means or income of buying a new car. They have to content with buying a second hand car. They usually shop for financing their car with a bank or some finance companies on a certain terms and conditions. There are many finance companies available in the market offering competitive rate of interest for the loan. Some usually offer low rate of interest in the beginning with a penalty clause that the amount if not paid by a certain date then a penalty will be imposed. One has to be very careful before signing of any of such document.- There are some finance companies which even offers zero percent interest on used car loans . There is a catch in this. Remember, no company will do business at a loss. So be careful in such dealings.

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