We are fortunate enough to live in a state where we can get a car loan for the price of a new car, and it’s one of the best places to do this. But, you have to pay for that car loan first, which can be a pain. Most people don’t realize that you can get a car loan for a lot less than you would pay for a new car, and many people will pay a higher interest rate than they would for a new car.
How about a new car? We need one. Not for a new car, but for a car with a $100,000 price tag.
Here in the midwest (and the rest of the country) we can get a car loan for the price of a low five-star hotel room and still pay for our car loan in full. Well, at least the rest of the country if you are a person who lives in a state like New Hampshire. But, you have to pay for that car loan first, which can be a pain.
This is a very common problem. Many people are turned off by the idea of paying extra for a new car. Why should I pay a little extra for a car that I already paid for? If you don’t have a job, you don’t have to pay that car’s sales tax. (It’s worth noting that this tax is usually the hardest part of getting a new car loan.) But, there are exceptions to this rule.
New Hampshire auto finance is one of the least regulated states in the country. The state is also one of the most expensive to finance. If you want to finance a car in New Hampshire, you have to use a lender who is willing to accept state auto sales tax as a down payment. This makes sense because it reduces the number of people who are willing to finance a car by having to make a smaller down payment.
Because auto finance is so difficult to get in New Hampshire, it is also rare in other states. But here is where we get into an interesting situation. When the auto finance lender makes a down payment, they can only make a down payment of about 70 percent of the amount you pay for the car. And they’ll have to take a 50 percent credit fee or an interest rate of 1.5 percent of the amount you pay.
If you are using a credit score of less than 400, you are eligible to use the auto finance lender’s services. But you have to have a down payment of more than 70 percent of the amount you pay for the car.
This is actually the first time in a while that I am completely speechless about a situation like this. In fact, I am in so much shock that I don’t even know what to say. It is the first time in the history of the auto finance industry that this has happened.
It’s the best thing that can happen to someone who is about to make a loan. And it is almost the worst thing that can, either. If you go ahead and put down a down payment below the required amount, you will be barred from the auto finance lenders services. I know it sounds like something that should never happen, but I have never heard of anyone getting in trouble for this.
I have also never heard of anyone getting in trouble for this. I guess that makes sense. I would think that this would mean that the lenders would be able to see that you have defaulted on the loan, and then the lender would demand the entire amount of the loan be paid back. This is the same as a car loan, except it is being done by the auto finance industry.
