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Finding the Best APR Loan for Your New Car

Posted On : May-04-2011 | seen (730) times | Article Word Count : 480 |

Buying a new car is about balancing cost and need. There are lots of really great cars out there for you to choose from. However you may not have enough money in your savings to buy a new car upfront. In this case an APR loan can help you to afford the car you want.
Buying a new car is about balancing cost and need. There are lots of really great cars out there for you to choose from. However you may not have enough money in your savings to buy a new car upfront. In this case an APR loan can help you to afford the car you want.

Setting Your Budget

APR car loans are widely available and you could borrow anywhere between £1,000 to £20,000 towards your new car. However you do not want to put too much pressure on your finances by overspending. It is important that when you are choosing an APR loan you scrutinise your spending and set yourself a realistic budget. Here are some easy tips to help you get started:

- Make a note of your incomings including any wages and regular payments.

- Now list all of your outgoings over the period of a month. Make sure you include all of your bills and expenses including travel costs, food and other credit repayments (credit cards, store cards, personal loans etc).

- Look at both your incomings and outgoings and decide how much you can set aside to repay a car loan. Ideally you should be looking for around £100 to £200 to spend on your APR loan each month. This should enable you to get a decent size loan to afford the car you want.

- If you feel you would struggle to repay a car loan after looking at your finances then think of ways you could cut your existing costs. For example you could cut down on luxuries like dining out and clothes. This would free up some more money to put towards your new car fund.

Shopping Around

You will need to spend some time looking at the APR loan market to see what deals lenders can offer you. This means shopping around and comparing deals. Comparing APR loans is one of the best ways you have of finding the very best deals for your requirements and price range.

This is easy to do online and you can find some great loan comparison websites that can help you. These save a lot of time and hassle as they can bring together a number of different deals for your price range all at the click of a button. You may find that some lenders are only offering their very best deals online. This is why you cannot afford to ignore the Internet if you are looking for a good APR deal.

It is also worthwhile looking at some offline resources at well. Local dealers for example may be advertising some great APR loan deals in their showrooms that could be very competitive. Dealer finance can be a cost effective choice and also has the benefit of being quick and easy to set up.

Article Source : http://www.articleseen.com/Article_Finding the Best APR Loan for Your New Car_61314.aspx

Author Resource :
You can find some great APR loan options available. These can help you to afford your new car without putting a strain on your finances.

Keywords : Car on Finance, Motor Finance, Apr Loan, Dealer Finance, Car Loan Adviser,

Category : Finance : Finance

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