With mortgage interest rates at historical lows in recent months, homes are flying off the market and millions of Americans are becoming first-time homeowners. For most, their home will be the most.
© Provided by Xinhua BEIJING, Dec. 20 (Xinhua) China one-year loan prime rate (LPR) came in at 3.8 percent Monday, down from 3.85 percent a month ea
BEIJING, Dec. 20 (Xinhua) China lowered its one-year loan prime rate (LPR), a market-based benchmark lending rate, for the first time in 20 months on Monday.
Difference: $2,144
The table shows an additional $2,144 in interest if you opt for the seven-year loan. Of course, the most cost-saving option is definitely to pay the full sum of the used car in cash. However, if that is not possible, you can consider a shorter loan tenure to save some money on interests.
Remember, a car loan can affect your credit score and any future loans that you wish to apply for. These include personal loans, HDB loans and student loans. Hence, it is important to think twice before applying for any unnecessary loans to avoid bad debts or missed installments.
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