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5 Terms You Must Understand When Applying for a Car Loan

5 Terms You Must Understand When Applying for a Car Loan

Whether you are buying a new car or a used car, cars are expensive, so many of us turn to car financing. While car financing is a very common practice, it is important that you understand the various terms associated with applying for a car loan. Credit Rating A credit rating is a tool used by creditors to determine your reliability as a loaner. Your credit rating is calculated based on your credit history, which is accumulated over your...

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Car Loans from Family

Of course it is common knowledge that when we apply for car loans from the bank, from the lending company, or from the car dealership financing, we will have to pay their declared interest rates because that is how they make money. But if their rates are too heavy on you, maybe you can ask for an auto loan from your family? Let’s face it—there are family members who are in a better position, in short wealthier than us. That is a reality of...

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