auto loan rates

August 31, 2009

car loan calculation?

Filed under: Credit — Tags: , , , — admin @ 11:20 am
Sure asked:

I am currently havaing a auto loan with bank.

The rate amount was 17800$ 60 months at 9%.
Total amount with interest for 5 years = 22200.
The monthly payment is 370$.

In the past 6 months I made a 6 paymenst of 500 each = 3000
That 500 , I paid more as early Payoff . But later decided to refinance and stopped paying extra.

the current loan amount shown is 15537
I am planning to refinance for 5.9% and will the new loan amount will be 15537 or less or more.
As I paid more than monthly payments, shldnt my loan amount be less and interest amount also decrease everymonth.

please suggest ??


Auto Loans Rates: Get the Best Rates on Auto Loans

Frank Dervin asked:


Modern world is a world of opportunities and here for success you have to be smart enough to create and catch the opportunities. Same is the case with auto loan rates. The rate of auto loans is much variable than any other loan and you need to wait for the right time with open eyes to make the maximum benefit of any opportunities. Usually the rates offered by the lenders are negotiable but it needs certain skill and timing. When we need some extra cash to buy our dream car or some other vehicle we look for loans and usually in hurry we get a high rate loans. But now it is the time to be smart enough to choose a low rate auto loan.

Auto loans rates is a secured loan scheme where the car, that you would own, should be kept as a security. This security helps reduce the risk in the minds of the lenders. You have two schemes to repay this loan. You have to give some down payment to receive this loan. There are short term loans and long term loans. The difference is very simple and yet it makes you choose. The short term loans have a comparatively higher rate of interest while the long term loans have a lower rate of interest.

The short term loans are to be paid off in about 5 years while you have as long as 20 years for the long term loans. You can go to the banks or financial institutions or to the auto dealers to get this loan. But a simpler way to apply for this loan is your online application. Log on to the website of the lender you have chosen and fill out the online form and submit it. It just takes minutes for your loan to get processed. Everything is done fast and you get your loan within a few days of applying. But before choosing the lender, do your homework properly. Make sure you get the loan at the best rates.


August 29, 2009

Does anyone know of a good autoloan company?

Filed under: Corporations — Tags: , , , — admin @ 2:03 pm
Gwen asked:

Hi im looking to buy a vehicle looking for like a 15,000 loan credit ok, can anyone recommend a auto loan company who has reasonable rates?


August 24, 2009

(Shared auto loan with ex husband sent to debt collectors) how does this work?

kayla8599 asked:

When we got divorced we both agreed to give the car back to the bank as a voluntary repossession since neither one of us could make the payment. My ex husband took the car and said he’d trade it in or sell it to put toward the balance owed, I got calls from the bank stating they have since sent the account repossessions. He refuses to tell me anything. He was the co-signer on the vehicle because my credit was so new. I’m 23 and would like to pay this off as quickly as possible. Problem was I was paying 475 a month for 2 years and only 2000 came off the total amount due! I don’t know what the interest rate is but (stupid I know, I learned my lesson believe me)is that factored into collections when they send it off or is it the total amount due? I’m so confused please help!
who will be held liable first? Will they go after us both for a split amount?
I’m not trying to “get off the hook” I’m just frustrated he’s taken the car and probably sold it, then kept the money for himself without letting me use it for the car.

I have a 4 year old he doesn’t pay for either!


who gives out the best auto loans?

Filed under: Credit — Tags: , , , , — admin @ 7:39 am
Eman asked:

in rates and amount borrowed and new credit applicants?
i know credit unions usaualy do good but is there anyone else that gives better rates.


August 18, 2009

Auto Loans Rates – Find the Loan That You Need



You are looking for auto loans rates but are often unprepared for the task of availing the same. Search for automobile loans is stressful, time consuming, and often confusing. No wonder many people go for the first loan offer they get from a car finance company. However, they soon realize that they have made a terrible mistake.

So if you want to avoid this terrible mistake, you need to begin your search for new auto loan rates by learning about them. First of all you must understand that the kind of auto finance rate that you attract depends on your present financial status, credit scores, monthly income, age, down payment, and the type of car you are interested in buying.


Auto loans are classified into two types secured and unsecured form and where for secured form we need to place collateral against car. No need of such formalities in unsecured form. Interest rate also differs.

Those with good credit scores attract lower rates. In contrast, those who have bad credit history will attract higher interest rates. If you are interested in buying expensive sports car might have to pay higher interest rates. However, the larger your down payment, the lesser interest you will have to pay.

Down payment 25% of loan amount is compulsory in the case of auto loans. Remaining amount you clear through installment basis.

Compare and apply:

Make a list of several lending companies offering auto loans rates. Then check out their policies, reputation, years in business, and the rates they are offering. It helps to get quotes from each company. By comparing you will realize where each company stands and you will be able to make a sound decision. Furthermore, always keep in mind that the rates offered by the company are not fixed. You can always negotiate to bring them down.

These loans are available both in the financial market and through online. More paper work applying through offline. Online mode will be fastest and easiest way for applying loan.


August 12, 2009

i need a car loan, but my credit isnt good enough?

kt_rox100 asked:

Wells Fargo has the lowest interest rates, but my credit report sort of sucks because of my husband not paying his bills in the past(grr). Financers that dont care abut your credit report usually have insane interest rates.
My credit score wont go up for seven years, i learned, and im buying an suv, so i need an auto loan. Is there any place out there that will accept bad credit but doesnt have huge interest rates?


August 10, 2009

Auto Loans Rates- Now Brand Doesn’t Matter

Mark Nikolos asked:


Getting an auto loan rates is not luck, but rather a skill that you must learn. There are loan rates available if you know the tricks of the trade and how to negotiate to get the best deal for you. Remember, you should not be afraid or nervous when trying to negotiate your loan because you will be saving yourself money. That should give you the courage to try and get the best auto loan rate available.

Buy at the End of the Month

Frequently car dealerships have contests and the winner of the contest gets a good prize, whether it is monetary or physical. Generally, these contests are a month long, so by the end of the month the salesman are crazy to make a sale regardless the price. So, you will be able to negotiate a better price on your vehicle during these types of competitions. You can find lenders in local market or you can go for online. It will totally depend upon the terms and the condition that are offered by lenders. So just go for the best possible deal and get your branded car right in front of your lawn.

Have Good Credit

Now this might seem obvious to you, but everyone is not aware how their credit will affect their auto loan rate. If you have great credit, go buy a car whenever you want because you have grounds to negotiate an auto loan on. If you have bad credit, work on rebuilding your credit for several months and then try to get an auto loan. This effort alone will help you in more areas than just your loan rates.

The various forms of availability

In financial market there are generally two types of loan are available- secured type and another one is unsecured. If you possess some healthy assets then you can keep them as collateral and can go for secured type of auto loans. But if you are not ready to take risk regarding your collateral then unsecured type will be good enough for you. So just give a glance to your bank balance and go right option.

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