New Car loans and Used Car Loans
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New and Used Car Loans
The APR on used car loans will almost always be higher compared
to and new car loans. However the repayment periods are usually
much shorter since used cars can be significantly less expensive
than new cars. The exceptions to this are rare and classic cars
which are always highly valued, depending on the condition.
Always check whether your car dealer belongs to
a trade body like the Society of Motor Manufacturers and Traders
to ensure that they comply to motor industry Code of Practice.
This is especially important in the case of purchasing used cars
and you will want to be certain that your rights as a consumer
are recognized should problems arise down the road.
Click on the links below for more information
about car loans
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