Used car loans can be very similar to new car loans. There are a few differences, however. Used car loans often have higher APR rates (Annual Percentage Rates), which means that you will pay slightly more interest on them. Used cars are also less expensive in Sweden, so even with slightly higher interest, you will be saving money. Online lenders and credit unions, such as https://finansis.se/billan/, generally charge you less for a used car loan than a bank will.
If you are buying a car from a person, you will need to get a person-to-person loan. This means that instead of paying monthly payments to that person, you will borrow the money from another source (a bank or credit union, perhaps) and pay the car in full. Then you make your monthly payments to the lender.
There are a few things to keep in mind when you buy a used car. You will want to know the car’s history. This might mean doing a title search to establish if the car has been seriously damaged previously, seeing the repair history, and getting a professional to look the car over for you.
There are a few other things to remember when you are buying a used car: never pay cash on the down payment. If the deal doesn’t go through, you will want proof that you paid that money, so always pay with a check or credit card. Be sure that your car will be under warranty: if necessary, purchase the extended warranty.
If you are looking at prices for used cars online, find out if these prices include the cost of safeties and other tests. Some used car dealers charge for a safety and emissions test. If you find another person to complete these tests for you, you will end up saving money.
Buying a used car is often a great way to get a good mode of transportation for not too much money. Check out the other tips on car loans to make sure that you are making all the right decisions, and good luck on your search!