Car loan

What is the process of obtaining a loan? State why down payments are important. How does the time frame on the loan affect you? How does value change over time for this purchase? State three things every person should know to buy this item.

When obtaining a car loan, you first have to pick out that set of wheels that fits you. After you have picked out that car, you submit your loan application to get pre-approved for the loan. The car dealership will deal with your application as soon as possible and hopefully they approve the loan.

In order to having a better chance of getting a loan, putting a down payment is important because the more money you put down on a loan, the less you have to pay and the lower the interest is going to be. The time frame on a loan affects you a lot. Usually most car loans are either 36 months or 72 months. The less months you have to pay, usually the higher the interest is going to be and more you would have to pay monthly. If you get the 72 months, it's usually going to be lower interest and pay less each month, but that's another two years you would have to pay. whenever you purchase something whether it's a new car or a new house, over time the value of that item will drop. Especially with cars, because every year new cars come out with different models. The longer you have the car, the more the value on it will drop. There are many things to know when buying a car, but there are three main things that every person should know before purchasing an automobile. First, they should be able to pick out the right car that fits them. Secondly, you have to be able to apply for a loan and hopefully get it approved. Finally, make sure to pay your bill each month. If possible, try and pay off the car earlier because it will end up cheaper. 

Here is an informational video 
 http://www.videojug.com/interview/car-loans-and-other-means-of-payment

News article about how to get a car loan
http://www.carloan.com/car-loan-news/best-cars-for-bad-credit.aspx