Getting the right auto loan for your car may not be as easy as it sounds. Customers who would like to get a loan for their car really need to spend time to shop for the best products for them. Choosing the right car loan need to suits your lifestyle and budget. The length of your car leasing would vary from 12 months to a few years, depending on which plan that you choose. Some leasing organization would offer you up to 144 Month Auto Loan. However, 12 years leasing period only apply mostly to exotic cars that would costs you more than a hundred thousand dollars.
Who would allow 144 Month Auto Loan?
Only a limited number of banks would do such long term financing, as most banks would only give a financing term up to 72 months, which translated into 6 years leasing period. If that’s the case, buying exotic cars would be pretty impossible if you do not earn millions of dollars each year. So, if you are planning to get a Ferrari or Lamborghini car, you would need to spend your entire savings on the down payment. However, you do not have to worry, there are several agencies that would help you to get your dream car. Some car leasing companies would enable you to get 144 Month Auto Loan with at least a 25 percent of initial payment and would offer you with a slightly higher interest at around 6 to 8 percent per year. The next thing is to have at least seven hundred credit score, while being able to show some proof of your income in a form of document and bank statement.
Let’s take a leasing simulator
So, let say you are buying an exotic car that would cost you around two hundred thousand dollars, including title fees, fees for your documents, and 7 percent of sales tax, you would need to pay at around 215,000 dollars in total. The next step is to pay the down payment at least 53,750 dollars, which accounted at 25 percent of the total price. Moreover, from there you can ask the agent how much you need to pay for the monthly instalment, which can range at around two thousand dollars.
Whichever auto financing company that you would choose, It is recommended before making the final decision on which auto loan policy to be taken, you may need to spend time to talk with your neighbours, friends, and family for a recommendation. Seeking other people’s recommendation regarding which car financing policy to choose may seem to be the most logical first step to eliminate a few companies. Why? Because those people have direct experience with the company’s term and condition.
Next is to seek information online. With the advancement of social media and internet in general, we can now able to read what other people think about anything. Those online strangers might also can give you some helpful insights. More and more people now are getting vocal about complaints on any products that they feel that it is not satisfying. The topic of 144 Month Auto Loan might not be the most popular discussion among people in online forum, but it is worth to try to look for more information online.