What is the average amount financed in an auto loan
14674.58
73% of new car purchases are financed, according to this website: http://www.newcars.com/how-to-buy-a-new-car/auto-financing.html
One way or another, the loan has to be paid off. If you trade the car in, you can get the payoff added to the amount financed on the new car.
Whoever is selling you the new car and then they roll it into the amount you are paying for the new car, charge you to do this and if it is dealer financed, they get the interest on that money. Basically you pay off the balance at a higher rate than you were paying.
It completely depends upon the amount financed and the rate of the loan. Used versus new does not dictate these terms, as some used cars are worth more than new cars.
Yes, no worries as long as that car has no defects and it is in good condition.
what is average amount of liability insurance for cars in new york
It varies according to the dealer.
It was about $3542 for a new car during this time period. This amount is much less than what a new car goes for now.
There is an average new car mark up of about 500-900 $ mark up plus an average hold back amount of 1,000 so do the math
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.
No