There are legitimate low interest loans but make sure there are no other costs involved, which are not being openly revealed. Following are some questions that you need to ask yourself when considering a low-interest loan:
- Is this a limited time offer?
- Is there a time limit in which the loan will have to be paid off?
- In order to qualify for a low interest loan, will the price of the vehicle be increased?
- Will you be required to provide a larger down payment?
- Will there be any lump sums due at the end of the loan?
- Are these low rates available for all vehicles in stock or limited models?
- Are you required to purchase additional options such as rust proofing or an extended warranty in order to qualify?
- Are you required to take delivery of the vehicles within a certain timeframe?
- If there is a manufacturer’s rebate or incentive involved? Would you be required to give this back to the dealer?
Make sure you are clear and understand these things before considering these loans.