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The new FX bristles with advanced technology, as any
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2008 New York (NYIAS) Auto
Show
Latest 2008 Cars and automotive news updated in real
time. Read everything related to the auto industry, new
cars models, reviews, automakers financial results and
much
Latest 2009 Auto Cars
Latest 2009 Cars and automotive news updated in real
time. Read everything related to the auto industry, new
cars models, reviews, automakers financial results and
much.
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Auto-Rates |
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The Best Auto Rates in the Business
Are you ready for a new car? If so, you made a good decision by
looking into auto rates before buying. Having a loan ready prior to
buying can make you a more attractive candidate to dealerships.
Similarly, you are probably aware that you will not get the best
deals on auto rates at the dealership. Dealerships are notorious for
overcharging customers when it comes to financing a car. You might
get a great deal on your new vehicle, but you will get taken to the
cleaners if you decide to finance through the dealership. |
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Why are car loan rates?
One thing I have wondered about is why car loan rates in India are
so volatile? When I purchased my car in October 2005, I got a 3-year
loan at a fixed interest rate of 8% p.a. But only a few months
later, I saw that rates has jumped up to ~11%. This certainly wasnt
the case for home loans, which went up only 0.5% (if at all) during
the same period.
Today, the Economic Times reports that car loans will see an
interest rate hike for the fourth time in a row in as many months,
by 0.75 - 1%.This takes loan rates to the 13-14% range, a fairly
large increase compared to what I paid over a year ago. I dont have
statistics on what % of people finance their cars versus buy them
outright - but I doubt this is good news for car manufacturers. |
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Time to Buy a New Car
For many people, its difficult to let go of an old vehicle. They
often hold a lot of sentimental value. Maybe your car has even been
good to you over the years, never dying on you when you need it or
costing too much in repairs. Unfortunately, every car has its day,
or at least |
