Author : Musa Aykac
A few years ago it used to be almost impossible for any family to get a nice car for themselves But over recent years this policy has changed dramatically Now more and more companies are popping up all over the place that are offering car finance for people that too be honest cannot even afford it, and this is probably why the economy has crashed as bad as it has over recent times
Lets have a brief look at the downsides of salesmen offering people finance on used vehicles
1) Car salesmen have a habit of off loading dodgy vehicles, or getting broken or crashed cars and repairing them, they are basically in it for the quick buck So in the end by offering people finance they are going to have high complaint rates flying around everywhere People just will not put up with broken cars in this day and age, they are paying money why on earth do they deserve to be ripped off
2) Are used cars really worth the high interest rate? Firstly you are getting it from a garage so they are increasing the price it is worth and secondly adding interest onto that will make it an overall huge amount
3) The finance companies end up paying in the long run, they borrow money themselves from the banks and then give that too the garages, people then cancel their monthly payments because they do not want broken cars that they have shelled out a fortune for
The third problem is the worst and it is something that should be deeply looked into by authorities if they want to stop the economic downturn, because it is what has made the economy as bad as it is The reason we are in the midst of the credit crunch at the moment is because of outrageous lending policies that banks and financial figures have been giving on homes, properties and of course cars
By all means get a brand new car on finance as you are guaranteed to get a few years out of it without the vehicle breaking down But if it does break down then you have your warranty as well So you can always look at getting it repaired for minimal costs The same cannot be said for used cars, you have to be careful in what you decide to buy as it could end up costing you a huge fortune
If you want to buy New Cars, Buy a Ford and Buy a Toyota
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