Car Finance

Why Do Used Car Loans Have Higher Interest Rates?

Why Do Used Car Loans Cost More? ✔ Depreciation Risk – Older cars lose value faster, making them higher risk for lenders.✔ Resale Value Uncertainty – If you default, the...

New vs. Used Car Finance: What’s the Difference?

New vs. Used Car Finance: What’s the Difference? Car loans work differently for new and used cars, affecting interest rates, repayment terms, and lender approval criteria. 📌 New Car Finance:✔...

Does Getting Car Loan Pre-Approval Affect Your ...

Does Car Loan Pre-Approval Impact Your Credit Score? ✔ Soft credit checks (some lenders) = ✅ No impact.✔ Hard credit checks (full applications) = ❌ May slightly lower score. 📌...

Should You Apply for Multiple Car Loan Pre-Appr...

Can You Get More Than One Car Loan Pre-Approval? ✔ Yes, you can apply with multiple lenders, but there are risks. 📌 Pros of Multiple Pre-Approvals:✔ Helps compare interest rates...

How Long Does Pre-Approval for Car Finance Last?

How Long Is Car Loan Pre-Approval Valid? ✔ Most pre-approvals last between 30 to 90 days.✔ Some lenders offer shorter (14-day) approvals, while others extend up to 6 months. What...

First Car: Should You Finance a New or Used Car?

New vs. Used Car Finance: What’s Best for First-Time Buyers? 📌 Financing a New Car ✅ Pros:✔ Lower interest rates on new car loans.✔ Includes manufacturer warranty.✔ More advanced safety...