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Car Credit And Financing Facts For Car Shoppers

What you should know about credit before you go car shopping. Car financing and credit facts you should know before you go to the dealer. Get a credit report to learn your credit score so you know where you will stand with financing. (ARA) - Whether you've decided you've gone through your last winter without four-wheel drive, or you're rewarding yourself for making it through the recession with your financial health intact, summer is a great time to begin shopping for a new car. And experts predict that car dealers, still stinging from some of the worst sales years in motoring history, will...

Beware the car-loan catch

While low-interest finance is tempting, it often doesn't add up to a better deal. No-interest or low-interest car loans are the latest salvo from car manufacturers desperate for sales. When a car dealer offers you money for nothing, there must be a catch, right? Well, yes and no. The good news is that special advertised rates of 0 per cent to 1.9 per cent interest from car makers such as Holden, Ford, Nissan, Toyota and Kia do deliver on their promise. The catch is, you may end up paying more for your new car than you would if you had shopped around and paid cash, or even if you had take...

Time for a better way to help car makers

In November 2008, during the depths of the global financial crisis, the big car makers of Detroit - General Motors, Ford and Chrysler - asked Congress for as much as $US25 billion of urgent assistance. The car industry in the biggest free market in the world was haemorrhaging dreadfully as car finance companies stopped lending and consumers opted for more fuel-efficient vehicles imported from Asia and Europe. So heated was the US bailout debate, and so sceptical were US senators in particular, that there were open calls for the US car makers to be left to go bankrupt. It is history now, but th...