Retail finance schemes have flourished mainly because the consumers are not willing to wait to enjoy the fruits of their labour. Instead of saving for years to accumulate a capital sum to purchase an asset on a future date, consumers want to enjoy the asset today and are willing to pay a slightly higher cost for it. Rising inflation encouraged the consumers to understand and accept the concept easily. Availing finance hedges the consumer from inflation.
Car finance can be very confusing.
Unfamiliar words, lengthy technical contracts, and manipulative sales techniques can make shopping for finance more difficult than shopping for a car. With the right data, the salesman will be at your mercy. It always helps to call two or more finance facilitators while choosing a finance scheme. Understand Time-Value of Money. Before you sign the dotted lines - Try to get a copy of the Agreement or contract before you get into one.