the Cost of Auto Loans

This was a loan for a new vehicle purchase. They offered me a 7% rate which was pretty good but they also offered a three years no interest alternative to qualified buyers. The payment was five hundred and forty-two dollars if you opted for the zero interest three year option. They charged a certain amount for every one thousand dollars.

I felt the quality of the loan was good. The company has great customer service. One good thing about the service was that you didn't throw a lot of your money away on a high interest rate. One thing that was not so good was that because it was spread out over only three years, the car payment was pretty high. All in all, i believe that the service was pretty good for the price. For instance, it only ended up costing me a few dollars for the handling fees of the loan because it had no interest.

If people have access to extra cash, then i would certainly recommend a zero interest deal if they can get one. I say this because why would you throw away extra money on the high interest rates if you can help it? If I had to do it over again, i would have saved more money and put a bigger down payment on the car so that I wouldn't have had to finance so much money.