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      Looking for help on car loans #3538

      I am in the process of buying a new car and to do this I am going to take out a car loan. With the loan is it going to be better to get the lowest payment that I can? And should I worry about the fact that I want to pay the loan off earlier than what the lender is stating?

       

      Best Answer Chosen by Voters:

      Those that get the lowest payment each month are paying less right now, however, in the long run, they end up paying more. The reason for this is that they do end up paying more interest in the long run which increases the total amount that they are paying. For this reason, if the person can afford to go with a shorter time period, then they are going to have to pay back less in the long run. However, if the person can only afford the lesser payments, then this is what they are going to have to do. In regards to paying off loans early, each lender has a different policy. Most lenders are fine with paying off the loan early, however, some lenders will charge a penalty for doing this. The person must make sure that they are checking out these terms before they make a decision.

      Question about buying a new car #3536

      am getting ready to buy a new car, and have absolutely no knowledge about cars. Are there any tips that someone can give me in order to make sure that I do not purchase a huge mistake that I will regret later?

       

      Answer chosen by voters:

      Since you do not know much about cars, the best advice that can be given is to take the car to a mechanic to look over that you trust. This is the most sure fire way that you are going to make sure that you are getting something that is going to stand up against the way that you drive. However, if this is not an option for you, for whatever reason, then you should make sure that you take a few tips in with you. First, rub the inside of the exhaust and see if you find fresh oil, this could mean that the car burns oil. Check the tread of the tires to make sure that you are getting something that is safe. You may also want to consider checking all the liquids to make sure that they are not mixing, which could signal a huge problem. Make sure to test drive and feel for any vibrations as this could be a problem later down the road.

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