The fact
You need a car, badly.

Problem area
You’re hard of cash.

Solution
No problem. There are innumerable auto loan providers.

Hard facts
(1) The path is full of potholes.
(2) You must negotiate along this highway.
(3) You’ll have to be a smart guy!
(4) Else you’d be duped!
(5) Don’t lend your shoulders for others to shoot their guns from!

Hence, you must assume the role of a gambler, nay The Winning Gambler. You must know when to call the shots! Know what cards (read cars and loan providers) to play (keep/choose) and when to quit (whom to reject)!

It won’t be an easy game, though. For, you can’t bank only on dame luck. To be able to successfully lay your hands on your dream car, you’ll have to proceed keeping the Aces close to your chest. The keyword here is “successful”.

The reason is simple: Appearances are deceptive!
The car you’re inspecting may be outwardly ‘fine’, but the engine may in dire straits. In simple words, first know the opponent (the loan providers and the car dealers – used cars as well as the new ones) to beat them!

Here are the finer points:

• Don’t be a dumb person!
• Equip yourself with the basic knowledge about a car.
• Don a pair of jaundiced specs. Always read between the lines.
• Take each statement of the representative (of the loan provider or the car seller) with a pinch of salt.
• Glib talk is dangerous.
• Critically examine the Marketing Representative’s ‘all-rosy’ picture.
• Pose a poser that is diametrically opposite to what the Marketing Executive (ME) is placing before you.
• Check out the after-sales service response.
• Ask for credentials and testimonials from the MEs (auto loan giving firms and also the car selling companies – both for new as well as the used autos).
• Spend some time calling up those references (clients) to cross check the claims.
• However, it is always better and advisable to personally visit those references and have a tête-à-tête about the particular firm.
• Know about the problems they are facing with regards to the car.
• It is also important to learn about the insurance firms extending loans to them.
• Obviously, you’d be able to get a bird’s eye view of the advantages and pitfalls of car loans as well as brand new cars and used ones.
• Weigh the pros and cons.
• More often than not, it’s advisable to depend on your instincts instead of taking experts’ views (which come only at a price!). What’s more, many such consultants will cleverly manipulate your views in favor of their client loan giving and car selling firm(s). They do it in lieu of commissions from those companies.

Ultimately you will be the better judge. The wearer knows where the shoe actually pinches. You are buying your dream car – brand new or a used one. You’re paying. So, you have all the right to delve deep into the machine and know the details. Else you’d be in the receiving end.