Buying A Car – Avoid These 3 Auto Financing Mistakes

December 1, 2015
Posted by: M Ali & Sons Co Japan

Advancements in technology and finance have made life greatly convenient for all of us and given us multiple options to avail the finer things in life.

One of these advancements is car financing which has brought the purchase of vehicles closer for ordinary Pakistani’s by allowing them to avail loans from leading banks of Pakistan.

Auto loans or car financing is a growing trend these days that has also made lives easier for the prospective car buyers. But, when it comes to auto loans, make sure to play smart. There can be many in’s and out’s, and aspects of signing up for an auto financing deal.

Here are few mistakes to avoid while going to auto financing:

The first mistake people tend to make is…

 

Going for a long-term loan:

It may sound very convenient to pay low amount for a long-term loan, but what nobody tells you is that the amount difference within longer time period can add up to a lot of money, which you won’t even realize. It is best to go for a short-term loan plan.

And then this…

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Not focusing on the actual price:

In excitement, it often happens that we get off-track and don’t focus on important things. If you focus on the monthly payments and not on the actual price, it’s very likely that you will end up paying more.

Which brings us to mistake no. 2,

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