The next best financing option, and sometimes better, is seller of your vehicle. Most vehicle lots have a few lenders that they work with on a regular basis who can help almost anyone in any situation. The advantage of seeking financing at from lot is that they know who to talk to and how to get their vehicles financed. This can save you a lot of time and hassle however it comes at a price. Most third party lenders charge a higher interest rate and auto dealer may add another couple of percent to interest rate as a handling fee. The only way to offset these higher interest rates, other than shopping around a bit, is to be a shrewd negotiator and getting a really good deal on vehicle.

As you can see getting a used car loan can be a little difficult and may cost you more than a new car loan will but it is possible to do. You must carefully examine your needs and then weigh value of a new car verses a used car to determine if financing a used vehicle is even a viable solution for you. If financing a used vehicle is your only option ensure that you negotiate best deal possible and apply as much money as you can as a down payment in order to reduce overall amount of interest and total cost of loan.

This means you have already saved £59,500 simply by not buying for 3 years. But wait, it gets better! Say you then buy same house as before, but this time at new reduced figure of £59,500. Lets also say you are comfortable with payments at $1,200 or so each month. Guess what. Hard as it is to believe (and you can check this with any calculator or spreadsheet that has an 'amortization' function!), You will pay £1,202.69 each and every month for only 11 years, for an interest charge of only $48,255.08. The final cost of house, which is yours after only 11 years, is only $158,755 and change.

Take a moment to think about that. You just saved £200,000 or so, and paid off loan a full 12 years before someone buying an identical house today. Knock off (say) £36,000 in rent while you wait for market to fall, and you STILL save £175,000 or so, for doing ABSOLUTELY NOTHING apart from waiting. Even if 'soft landing' scenario somehow happens (maybe there IS a Santa Claus!!!) you still save £17,000 upfront, and only have to pay £1,200 or so per month for 18.5 years, meaning you only pay back £120,264 in interest, for a grand total of $273,264 - a saving of almost £90,000!

So. The choice is yours. Do nothing, and make a sweet £90,000 to £200,000 profit (plus pay off your mortgage between 6 and 14 years early!) or be 'last sucker in box', and pay full amount! Bit of a no-brainer, really, isn't it?!