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For first-time car buyers, one of the most daunting parts of negotiating a good deal right now is interest rates.The average auto loan rate for someone with excellent credit is 5.25%, according to ...
Car loan interest is tax deductible, but only if you're a business owner or self-employed. ... You cannot deduct the remaining 60%, which is part of the interest expense that represents the ...
Allowing car loan interest to be tax deductible “will encourage people to take out more debt on an expensive depreciating asset by stimulating demand for cars,” Lincicome explained, adding ...
The borrower then pays off the financial institution the same as for a direct loan. [citation needed] Typically, the indirect auto lender will set an interest rate, known as the "buy rate". The auto dealer then adds a markup to that rate, and presents the result to the customer as the "contract rate".
Similarly, a loan taken out to buy a car may be secured by the car. The duration of the loan is much shorter – often corresponding to the useful life of the car. There are two types of auto loans, direct and indirect. In a direct auto loan, a bank lends the money directly to a consumer. In an indirect auto loan, a car dealership (or a ...
A no-penalty CD lets you earn a fixed interest rate on your savings without locking up your money. Unlike traditional CDs, which charge a fee if you withdraw your funds early, no-penalty CDs let ...
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