Rebates On Car Loan Offers

Dec. 1, 2010 - PRLog -- In order to stay ahead of their competition, businesses and companies keep on introducing new offers and discounts so that their turnover doesn’t get affected. In the lending industry, it is quite difficult to keep the clients as more and more lenders are joining the business every year. Moreover, since the new lenders are providing the car loan services at reduced rates, it becomes almost impossible to convince the applicant to listen to any other offer. In these times, there are few offers such as zero percent financing and rebates which ensure that the car loan (http://www.consumercarloan.com) is given. Out of these two, rebates are more popular because of their immediate finance value.

For beginners, rebate is a reduction in the loan amount or the down payment which the applicant has to provide. Most dealerships offer rebates on down payment so as to ensure that some money is still earned on the loan. However, the rebate amount varies depending on the amount which the dealer is asking for the down payment. For example, if the loan amount is 17000 dollars, then the amount required for down payment is approximately 2000 to 3000 dollars. Dealers usually offer a rebate of 500 to 2200 dollars in this amount which can vary according to the credit score of the applicant.

Car loan borrowers should always try that if the rebate is provided, it should reduce the interest charged over the term or cancel it entirely. Moreover, if one is actually getting a profit on the rebate then it should be chosen immediately. However, there is one thing which the borrower should be aware of. Some dealers provide rebates and then charge a high interest rate to make money on the loan. Rebates should be taken as a good car loan (http://www.consumercarloan.com) offer but agreeing to a high interest rate can make this profitable option turn into a very expensive and un-affordable venture.

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