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What You Need to Know Before Applying For a Car Loan

This ppt will provide the best guidance regarding how to get a car and what are the steps for getting a car loan.<br>For More Information Visit: http://bestusautofinance.com

JosephShields
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What You Need to Know Before Applying For a Car Loan

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  1. How to Get a Car Loan PRESENTED BY HTTPS://BESTUSAUTOFINANCE.COM/

  2. OUR DISCUSSION FLOW • What is Car Loan? • What Are the Steps for Getting a Car Loan?Consideration When Negotiating Total cost • Reasons why you should get a pre-approved car loan • Top 5 Common Car Loan Mistakes to Avoid • Things to keep in mind when taking a car loan • Eligibility Criteria for a Car Loan in US

  3. What is Car Loan? A car loan is pretty much what you think is a personal loan that helps you to purchase an automobile. In return, the borrower agrees to pay back the lender the amount of the loan plus interest, usually in monthly payments, until the amount owed is fully paid off.

  4. What Are the Steps for Getting a Car Loan? • Start with a Budget • Check your credit score card • Explore all your Loan options • Get Pre-Approval • Negotiate the Total Cost • Close the Deal

  5. Consideration When Negotiating Total cost Length of the loan APR and interest rate Additional add-ons Special offer or discounts

  6. Reasons why you should get a pre-approved car loan • You can know how much you can borrow • You’ll know your interest rate and EMI • You can choose a deal that works for you • Keywords used

  7. Top 5 Common Car Loan Mistakes to Avoid • NOT CHECKING THE CREDIT SCORE AND FOIR ( FIXED OBLIGATION TO INCOME RATIO) 2. NOT COMPARING THE LOAN OPTIONS 3.KEEPING THE LOAN TENURE LONG 4. NO DOWNPAYMENT 4. FINANCING FOR ADD-ONS

  8. 1. Check your credit score Things to keep in mind when taking a car loan 2. Pre-owned vs new car 3. Negotiate the cost and extras 4. Choose the lender 5. Look for the best loan terms • loan eligibility • financing • loan coverage • interest rate and type • tenure • repayment 6. Hypothecation formalities

  9. Eligibility Criteria for a Car Loan in US • Minimum 21 years of age. • Maximum 70 years of age at maturity (conditions apply) • Minimum Net Annual Salary of Rs. 2,40,000 p.a. for all approved car models. • Income eligibility based on latest salary slip and Form 16. • Minimum of 1 year continuous employment.

  10. For More Information Visit: http://bestusautofinance.com

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