finance on used cars

When it comes to finding the best used car financing, the internet is your friend, allowing you compare and view a number if different sites and payment schedules at the click of a mouse. Used car financing is a massive industry, and a highly competitive one at that so if you take the time to browse through the various companies and compare the pricing as well as the terms and conditions for each; you will be able to secure the best possible used car financing possible. This is not only in terms of repayment rates but also in regards to the time frame for repayment.

You may want to utilise a price comparison site in order to help narrow down your research, price comparison sites will be able to do the groundwork for you. Not only will they find the most relevant websites and web pages according to the search parameters you enter, but you can also view in a tabulated, easy to view format all the various pricing schemes of each company. In addition, you will be sort the prices in either ascending or descending order, allowing you to view at a glance the cheapest/most costly sites.

Why not use consumer review sites as well? Consumer review sites are websites where ordinary members of the public are able to write objective, neutral and informative articles which will critique various services and products, providing a break down of the value for money and other salient features. Obviously, such sites are entirely composed of subjective material, i.e. personal opinion, but given that this will be backed by personal experience, this means that a consumer review site is certainly a worthy tool to give some consideration to when searching for used car financing.

There are a number of used car financing specialist sites as well, you simply fill in a form with relevant details such as credit history, price range, budget, type of car you are looking for etc, and the site will be able to return info based on your input. Be wary of the car dealerships who will no doubt try and sell you a loan, claiming that they can give you the cheapest and best possible loan; firstly this is a misnomer because it is typically a lender who provides the loan on behalf of the dealership.

If you do take out a loan as part of your used car financing package, make sure to read thoroughly and be well aware of any and all terms and conditions. A nasty trick used by many a car dealership is that there is a number of penalty and sub charges incurred for trivial or unfair reasons, you may find that you incur a penalty for simply being a day late for paying off an interest payment. Be especially wary of dealerships offering 0% interest loans, technically they are…but only for a limited period of time. In other words, no interest is charged for a short period of time, so long as the loan is paid back within this (usually very short) period of time, otherwise a more substantive interest rate is levied.

If you are perhaps thinking that you will be able to pay off the loan before the deadline, be wary of this, because usually the dealership will want the loan paid back in its entirety. Even one dollar missing and they charge the full amount of interest.

It’s hard to believe, but 2014 is drawing to a close in a hurry, which means it’s time for many businesses to perform a review of their finances for the year and make a last-minute push for any big organizational goals they have. If you have been considering getting some new equipment for your company, beginning the financing process in these last couple months of the year could be beneficial for you.

One such benefit comes through the Section 179 depreciation deduction. This deduction enables taxpayers to deduct certain types of property as expenses rather than forcing the taxpayer to deal with the cost of depreciation.

There are some limits to this deduction. Any deductions filed under Section 179 must be property that is tangible and depreciable, acquired for use “in the active conduct” of business. Common examples include real estate property, vehicles and business equipment, such as computers or medical equipment and technology.

There is also a dollar limitation to the amount that you can claim under Section 179. The maximum one-time deduction you can take in a year is $500,000.

By taking advantage of Section 179 benefits within the next couple months, you’ll be able to get the equipment you still need for your business before the end of the year and benefit from the tax deductions when you file your taxes in early 2015.

Benefiting from payment deferral

Depending on your financing plan, you may also have the option to defer payments until a later time. This means that within the last couple months of this year, you could get the equipment you need now and not worry about making payments until the New Year starts.

For this reason, many companies find it extremely beneficial to get the equipment they need at the end of the year, allowing them to go fresh into the new year with the equipment they need to achieve their company goals.

Work with a leasing company today for assistance in equipment financing

By taking advantage of deferred payment options and Section 179 tax deductions, you can ensure that your equipment will basically pay for itself. Avoid the burden of depreciation by working with our equipment financing specialists in the leasing / financing world.