Image

2810 Fieldstream Drive North, Wilson, NC 27896


Phone: 252-237-4357

Fax: 252-243-2681

November/December 2017

Financing Your New Wheels

Article Image

There’s no lemon law for auto loans. So shopping around for financing before you shop for a vehicle can prevent you from getting a sour deal. Here are a few things to consider.


Compare Rates

It goes without saying that a lower annual percentage rate will save you money, so do some comparison shopping. Look up the rates offered by local or national banks and credit unions, and check out online lenders. The dealership where you buy your vehicle may offer financing. Dealers often have relationships with several lenders. But you won’t know if the dealer’s terms are competitive unless you do your research first to see what other lenders are willing to offer.


You may also be able to take advantage of low or zero-per- cent financing from the automobile manufacturer, although you may have to forgo a manufacturer’s rebate to get it.


Total Cost

The loan’s term—the number of months until the loan is paid off - is another consideration. The longer the term, the higher the loan’s total cost. A shorter term means higher monthly payments, but the loan will cost less overall. So consider obtaining the shortest loan term that you can comfortably afford.


Remember, too, that a longer loan term means it takes longer to build equity. This can be important if you decide to trade or sell the car - or if the car is stolen or destroyed - before the loan is fully paid. Putting a substantial down payment on the vehicle can help.


FR2017-0629-0022/E


SUBSCRIBE

Enter your Name and Email address to get
the newsletter delivered to your inbox every month.


CONTACT US

Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.

* HD Vest affiliated advisors may only conduct business with residents of the states for which they are properly licensed and registered. Securities offered through HD Vest Investment Services®, Member SIPC, Advisory services offered through HD Vest Advisory Services®, Insurance services offered through HD Vest Insurance Agency LLC. 6333 N. State Highway 161, Fourth Floor, Irving, Texas 75038, (972) 870-6000. Bradley's Tax & Financial Management is not a registered broker/dealer or registered investment advisory firm. This newsletter was created by a Third Party and was not written or created by named representative and does not represent the views and opinions of HD Vest Financial Services® or its subsidiaries.
Bradley's Tax & Financial Management and LTM Client Marketing, Inc. are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.

The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.