Question about Used Car Loan?

[Will O]

I am looking to buy a used car and the person demands cash.1. Can you opt for cash when you receive a loan from a financial institution for a used car?2. If so, how long will it take to actually have cash in hand?3. Where is the best place to get a loan. I have great credit.4. With a great credit score, what precent should i expect to pay interest?

[Postal]

Interest rates can go as low as the high 5s for an auto loan. They usually won't give you cash for an auto loan (they want to buy you an automobile not a big screen TV and they need that collateral). An option you do have is to get a personal loan and then use it to buy a car. Depending on what you have as security (bank accounts or real estate) you can get a pretty low rate (6-8%).Hope this helps.

[Great p]

Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen towardyou can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender