Car Financing Options: Which One Is Your Preference?

Car Financing Options: Which One Is Your Preference?

There are financing options to choose from when planning to purchase a car. It is usually offered by a bank or car dealership, depending on the type of promo available that a purchaser wants to avail. These car financing options give the buyers the freedom to choose a payment scheme that suits their financial capabilities.

Ultimate car financing option

The in-house auto financing assistance is an option that the dealership gives to the buyer. It offers quicker approval that sometimes can go as fast as two hours. Some other advantages of in-house financing are the promos that come with it, including:

  • Free chattel mortgage fees
  • 1-year comprehensive insurance
  • LTO registration

But, in-house financing offers higher interest rates. It means that the borrower pays more over the SRP of the car as compared to bank financing.

in-house auto financing assistance


The downpayment normally starts from 20% – 50% of the actual pricing of the car. The remaining percentage and the interest rate are paid in monthly dividends. It is called monthly payment or what they call monthly amortization. It has a loan period that goes from 12-60 months.

The down payment amount and the loan period longevity depend on the lender’s approval.

Build credit

Anyone who purchased a vehicle through in-house financing at a car dealership has likely seen a big jump in the credit score – just a month or two after buying a car. Improving your credit score has long-term benefits that pay off outside the car loan. With better credit, it is easier to get lower interest rates on a car loan or mortgage.

Bank financing and in-house financing – which is better?

The better financing option relies on the financial capability of the borrower. When you have a strong relationship with a bank, bank financing is better. But, did you know that bank financing has negative feedback due to their delay in loan approval? If you are a purchaser, you don’t want to get trapped with these delays, especially if you are excited.

If you are in a rush and want to settle things like buying your favorite and dreamed car, you would choose in-house financing as the better option. You don’t want to wait for a third party to confirm the loan, you may pick the in-house financing. The all-in packages and some other freebies might cope with the higher rates it offers.

An in-house financing option will be the best candidate for your car purchasing experience.

Automobile Parts

Imported Automobile Parts on the Wheel

When looking for cars, free automobile classifieds are definitely the best option for buying a car. There is a growing trend to buy and sell cars online, and there are hundreds of free car classifieds sites that allow you to post ads for free. Cars of all makes and makes are available in these free classifieds for cars. The car market is definitely growing and free classifieds have become very popular with buyers and sellers alike. There is no doubt that using classified ads is now the best way to sell cars profitably and effectively to present your car to a much wider audience.

The effectiveness of free car classifieds lies in the fact that a potential buyer can have all the details of the vehicle they want to buy at their fingertips. It definitely saves a lot of energy and facilitates direct contact with the person concerned. Posting free car classifieds on a more popular classifieds website is sure to attract more potential buyers. However, when posting these free car classifieds, it is imperative that you provide detailed information about the vehicle. It is a common misconception that when doing car advertisements, most people seem to lose some basic details about the car such as the actual model name, the mileage, or even the year of manufacture.

free automobile

Potential customers would like detailed information on the vehicle they want to buy. Therefore, it is important that you include all the subtleties. Online customers are temporary buyers and all inquiries that come to you will be potential buyers and after that. You can communicate with buyers by listing their address while posting your ad in these free car classifieds and negotiating their terms and conditions before finalizing the deal.

Free Automobile Classifieds is a comprehensive solution for both sellers and buyers. Although there are paid sites that allow advertising, it seems counterintuitive to pay for something that can be done for free. Also, when paying for ads, you are limited to the characters you can use in your ad, which may mean leaving important details that can bring you a higher sale price. Free car classifieds have fewer restrictions and will allow you to make the best deal. Listing your car in free car classifieds increases your chances of getting the money you deserve for the car you have taken care of all these years.