Easy Way To Get Used Car Finance

Used car financing follows the same basic principles as new car financing, but can be more expensive due to several factors. Because of the higher risk for lenders in used car loans, the interest rates on the loans are typically higher, the loan terms are shorter, and the down payments are bigger. On the loan terms, according to the Consumer Banking Association, 29 percent of used car loans carry a loan term of more than 5 years, while the same figure for new car loans is 40 percent.1

The higher risk reflected in the financing terms for used cars is partly based on the collateral value of the used car, which is lower than the value for a new car. The value of a used car is also more uncertain, which also translates into higher risk of financing.This gap between new and used car loan rates used to be more extensive, but increased competition among lenders, partly thanks to Internet, has narrowed the gap between the borrowing rates.

However, you typically won’t find similar financing deals as new cars have from time to time, such as manufacturer-backed zero percent financing (or cash back) deals. The leading manufacturers for such interest-free financing deals on new cars have been Ford and GM. They do these deals to clear inventory and improve overall sales (as they make money on these special deals on the sales, not on the financing).

However, somewhat similarly, selling used car dealers in uk decrease the selling prices of their cars the more time the car has been on their inventory. If the car has been unsold for a longer period of time, the dealers usually unload them at car auctions or sell my CAR to other dealers for little or no profit. They need to do this to better match their inventory of cars to the changing seasons and changing tastes of used car buyers.

Dealers may also improve their sales by offering attractive used car financing rates, like manufacturers do for new cars. These financing incentives are generally not as good as they are for new cars

Economic Benefits of CNG conversions

Compressed Natural Gas (CNG) is today one of the most viable fuel option alternatives. Even though it has been used for domestic purposes for many years, it has not achieved mainstream use as automobile fuel. However, this is slowly changing with most people shifting their attention to fuel-efficient vehicle models. As an alternative to buying a fuel-efficient car, most car owners are turning to CNG. But the big question is: what are the benefits of converting to CNG?22

One of the best benefits of converting your car to use CNG is that it is less expensive compared to gasoline. In most cases, the cost of natural gas can be as little as $0.64 a gallon, which is not always the case with traditional gas.

Besides that, it is also worth noting that the use of CNG makes the car engine relatively cleaner and safer. In sharp contrast to gasoline, compressed natural gas does not produce harmful deposits when combusted. The result is a cleaner engine that is more efficient. On the same note, this also prolongs the life of spark plugs and converters. Since carbon deposits that could contaminate the oil are reduced to the bare minimum, oil changes is also subsequently reduced.

The abundance of CNG, particularly in the United States, is another outstanding benefit why you should convert. The United States has an extensive r23esource of natural gas without mentioning the fact that there is an established network of pipelines. On the same note, compressed natural gas also results in a quitter running engine, thanks to the high octane levels of CNG.In addition to that, CNG is environmentally friendly in comparison to conventional fuel – petrol. With the use of CNG, the emission of carbon monoxide, which is a major cause of global warming, is significantly reduced by up to 10%. This not only benefits the vehicle warranties, but the environment at large.

We got our car converted to CNG by one of the best Cng conversion companies in Oklahoma i.e. Ace CNG Experts, they were really professional and expert in cng conversion.