New Car Applications Are A Better Risk To Lenders. Lenders, particularly banks advertise car loans with low interest rates. You don't often see low interest rates advertised for used car loans. One reason is that used cars will retain their value longer, especially over the loan term; typically 5 years. Another reason is that new cars are kept in better … [Read more...]
What Is The Interest Rate?
What's Your Interest Rate? Sound familiar doesn't it. This question is asked most often, before any other by people applying for personal and business loans. Interest rates are disclosed on loan contracts based on the strength of an application and once an application for finance has been approved. Before this has happened an interest rate mentioned is … [Read more...]