Is 72 month financing a good idea?
Is 72 month financing a good idea?
A 72-month car loan can make sense in some cases, but it typically only applies if you have good credit. When you have bad credit, a 72-month auto loan can sound appealing due to the lower monthly payment, but, in reality, you’re probably going to pay more than you bargained for.
Can you get a loan to modify car?
An auto loan modification is different than a refinance, but can have some of the same benefits. If you had been making your payments until a recent event changed your ability to, then you may be able to apply for a loan modification.
What is a reasonable car payment?
To cut to the chase, it’s smart to spend less than 10% of your monthly take-home pay on your car payment, so you can keep your total car costs below 15% to 20% of your income. That might leave you feeling you can afford only a beat-up Yugo. But there’s an interesting caveat to this rule of thumb.
How much can you modify a financed car?
You can do anything you want to it as long as you keep making the payments. 2 things to keep in mind: If you somehow don’t make your payments and the car is repossessed, you also lose all your mods when they take the car. Modifications do not affect the warranty as much as some people will have you believe.
Can you mod a car on HP?
Is there any way to modify a car on HP finance? Yes – but you need to ask for permission first. If you don’t, you may void the terms of your agreement, and the finance company is entitled to ask you to pay the remaining balance in full. Alternatively, they may take the car back and sell it at auction.
Why do dealerships offer 0 APR?
When shoppers with only average or poor credit histories reach the dealership, they find out that they don’t qualify. That’s when buyers find out about a higher interest rate that will earn more money for a dealer or an automaker. Dealers use 0% financing to get people into the showroom.
Does 0% APR mean no interest on a car?
A 0% APR deal typically means the lender is not charging interest or fees on the loan. That means all your monthly payments will go toward the loan principal. The 0% APR loan deals are mostly available for new cars or in rare cases, certified pre-owned cars. Unfortunately, most lenders do not offer 0% APR.
