ECONOMICS
CREDIT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Ask your parents to borrow money for the purchase
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Save up and pay cash for a used car in your price range
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Save up a nice down payment and finance the remaining cost
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Allow your grandparents to cosign your loan for a new car
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Detailed explanation-1: -While personal loans may be easier for car buying if you’re purchasing a vehicle from an individual rather than a dealership, their interest rates are usually higher than what you’d get from a comparable auto loan. So if you’re looking to spend the least amount of money, an auto loan is usually your best bet.
Detailed explanation-2: -Choose an authorized dealer. Buy at the right time. Bargain hard for final price. Don’t buy insurance from the dealer. Bargain hard for goodies. Never pay anything till everything is decided. Exchange precaution. Go for extended warranties. More items
Detailed explanation-3: -Fix your budget The first and foremost step while planning for a car purchase is determining how much you can spend. Choose between new and pre-owned car Once you have fixed your budget, it is important that you decide whether you want to buy a new car or a pre-owned one. More items
Detailed explanation-4: -1) Check the Car’s Condition: 2) Maintenance Records: 3) Check Registration Certificate: 4) Car Insurance: 5) Transfer of No Claim Bonus: 14-Oct-2022