Monday, June 30, 2008

Auto Loans and Hybrid Car Financing tips

Find out step-by-step how to avoid the auto loan money pit.Car loans are certainly less costly than home mortgages, student loans, or other kinds of loans. So why do so many people end up defaulting and losing their cars? Find out these hidden dangers, unlike home mortgages, student loans or other big-ticket loans, car loans are inherently money pits.

A house can build equity; higher education can increase earning potential; even jewelry can sometimes be re-sold for as much as was paid for it. If you borrow to buy one of those things, you may eventually get a return on investment. But every single car loses significant value and keeps losing as time goes by. So whats the solution: spend as little on your car as possible.Of course, in order to spend as little as possible over the life of the vehicle, you need to get a well-made, fuel-efficient car, rather than the one with the lowest price on the windshield.

Hybrid cars that run on both gas, ethonal, and/or fuel cells must be considered as part of your research when looking for a new car. With gas prices doubling in the last year you must now seriously consider trading in your gas gozzler for a more fuel efficient vehicle.

More Car dealerships are now offering loan incentives for switching to hybrid cars. Allways ask or inquire about more favourable financing rates when purchasing or financing alternative/hybrid vehicles.


David Mc



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