Tips on Submitting Money Loans to Buy Cars
Since 2012, has started to tighten the rules for the down payment for the purchase of cars. The amount of DP or Down Payment is about 30% of the total price of the car. So the bank will only provide financing up to 70% only. Even so, there are some leasing parties that provide a ceiling of up to 80%. Not only car loans alone, the application of Down Payment is also applicable to the motor. However, do not be discouraged. You can still buy your own car later. Dreams can definitely be realized. You can still reach the down payment. Could pay installment car that certainly means you can repay Down Payment car, right? However, you may ask: what if using unsecured credit applications? The question now is whether the submission will be used for Down Payment or to buy a car? Here’s what you should consider carefully. It’s just that you do not have to worry about this one because Money Lender Singapore Low Interest provides the best solution for you who want to borrow money.
Yes, there are rules you need to consider when looking to use unsecured credits to buy a car. Basically, the use of unsecured loans to cover Down Payment of car purchases is not recommended. Why? The reason is simple enough. You’ll have two debts, which are no credit for mortgages and car loan repayments. Indeed the Licensed Money Lenders In Singapore provider of unsecured loans may pass your application. This credit product is designed for a variety of consumer needs. So how? Also, note one of the advantages of using credit without collateral to buy a car is the car will be directly in your hands. Ceiling provided by the Licensed Money Lenders In Singapore for this type of credit even up to 300 million. You can just buy a new car when getting financing from credit without collateral, right? Of course, as long as your income is in accordance with the ceiling. The rules in unsecured credit loans are nominal credits not exceeding five or at most six times your salary. If it turns out after the calculation, nominal credit was sufficient to buy a new car, yes, please be.
However, what if it is not enough? Instead of forcing yourself to use credit funds without collateral as Down Payment installment new car, would be wise if choosing a used car only. Used cars are usually priced at a much cheaper price than the new price. There’s even a 1/3 of his new price. Well, of course, it’s lighter, right? But when you choose to buy used cars only, try to be more selective on the condition of the car. Notice whether the body is still smooth or just a little abrasions, the engine is still in top condition and so on. Do not let car care costs even strangle your finances. The point is to have savings first, just buy a car. You certainly do not want to have to fuss over car repayments that cost money for your daily needs? Moreover, car maintenance is much more expensive.