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Rebates or Zero Financing – Choosing the Right Auto Loans

There are a number of financial institutions and lenders which provide the finances (auto loans) to individuals with which they can buy their personal automobile. Due to the increasing competition between various lenders, many offer their finances along with several offers which they think can attract their possible borrowers. Two of the most famous offers are zero finance and rebate. Many people wonder as to which option should be chosen to get the best deal out of their auto loans. The following lines might provide some help while making the choice.

Zero finance means that the dealership wouldn’t charge any rate of interest from the borrower when providing the finances. A rebate means that the company would charge some interest, but they would offer them a deduction in the down payment or reduce the amount which has to be paid. Zero percent is good when one is getting the car of his/her choice, the loan term is good and the price charged on the car is also affordable. There are dealers which offer zero financing on a couple of car models and charge a higher price. One should always consider the total amount that has to be paid and also consider that he/she is getting the car he/she wants and not that is forced onto them.

Rebate option is good when the rebate exceeds the amount one has to pay in interest. It means the borrower is actually making a profit on the auto loans. Even if it cancels out the interest charged for the term, it is still a profitable venture as one is getting the car he/she desires without paying much to the dealer.

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