auto loan rates

September 27, 2009

car loan advice?

Curious asked:

it’s my understanding that auto loans are simple interest, yes? what happens when you want to refinance a high-rate loan? I know you get a pay-off amount that becomes the principal for the new loan. Does this mean you’re only paid interest for the time you made the payments? The pay-off balance doesn’t include the interest for life of the old loan? Sorry to be so wordy, but I’ve only bought two cars in my life — one new and one used and never refinanced.
thanks to all. I’m not looking to buy a car myself but am trying to figure out how to help a lame-brained relative with a really super-crummy deal she just made because I wouldn’t co-sign to bring the interest rate down. she’ll apparently be paying $700/mo for 84 months for a VW Jetta. they clearly saw a live one coming when she walked thru the door. (pmnts would have been over $400 on my good credit, which is still way too much, but apparently young people don’t need advice, just co-signers)


What would my used auto interest rate be?

Filed under: Credit — Tags: , , — admin @ 6:52 am
hfdh asked:

If I had a cosigner, $8000, and can I use the loan on any type of car lot?
For a loan
I’m also 18


September 25, 2009

Private party auto loan can anyone approve me? ?

tjblue18 asked:

I have credit scores of 617,625,689 I just purchased a home and im now try to get to my next step in life we have only had 1 car for the last 5yrs i have 2 kids that are growing we need a bigger vehicle and me and my wife work in different towns on different shifts.i am trying to by a truck from my friend for 8500.00 .i have a chargeoff that should be a repo on my record from 2002 for 11000 it was a lemon had to replace the engine 3 times in 3 yrs! my wife has a judgement for about the same issue but for 5000 we applied at wellsfargo together and got denied we know we will end up paying a big interest rate but that fine thats why were goin w/ a good used vehicle.we dont have credit cards my only debt is the military for 11000.we dont have very much rotating debt.i ve worked for the state prison for 2 1/2 yrs. should i maybe apply alone? any suggestions please!


September 24, 2009

Necessary Things You Should Know While Applying For Bad Credit Auto Loan Financing

Auto Loan Finance asked:

Buying a car online i.e. on the internet is getting very popular nowadays. Online car buying saves one a lot of time, energy and money. Vast information about different car models and their prices can be accessed online, without having to rush from one car dealer to another to see different car models. The majority of individuals don’t realize that up to what extent the economy has affected the average employee. Individuals who used to have superior credit now fight back to make monthly payments because of a lack of employment.

Large amount individuals have had their credit rating depressingly affected through the economic recession. This has made it tough for millions of individuals to avail various loans to gain Car Loans for Bad Credit. Bad credit car loan is a lot more complicated to obtain approval for today compared to a few years ago. If you’re interested in availing any kind of loan standard there are some things, which you need to carry out and make sure you get, approve.

Perhaps the first thing anybody who is in the hunt for a loan need to do is apply for a credit report. By having glance at your credit score, you could see how good or bad your ratings are. If you’re having from a low rating you should take firm steps to get better your attractiveness to potential lenders. Paying down your debt is a superior way to progress your credit. Reducing your debt would get better your attractiveness for various lenders, which are available. Having a better rating would mean that you acquire access to lower rate of interest and larger loans.

An additional benefit to repaying your debts is the upgrading it would have to your debt to income percentage. The debt to income ratio is made use of by number of lenders to decide whether or not a borrower is eligible to gain a loan approved. Availing bad credit auto loan financing is much essential for individuals looking to buy a car. Looking for the right lender would ensure that you search out the best rate of interest on your loan application. If you’re interested in getting bad credit auto loan financing it is essential to search the precise lender and ask auto loan quote. Carrying out a complete search of the different auto loan lenders would give you a good estimation of what lenders are available.

One needs to get accurate information about the car dealer, the car model, its price and features before taking a decision. Facts about the vehicle’s safety, mileage, and maintenance costs also should be carefully considered. The car dealer from whom the car is being bought, should have a good reputation in the market, and should be an authorized dealer. Credit unions, Banks as well as other regular monetary organization, might reject a credit application from an individual having absolute no credit, and will not approve a car loan with no credit. One may not be able to buy a fancy car with bad credit, but can buy a cheap car that fits in your budget.


what is the max auto interest rate in arkansas?

Filed under: Buying & Selling — Tags: , , , , , — admin @ 11:25 am asked:

I received a loan from GE Moneybank for a Honda motorcycle and the interest rate was 17.9%!! I heard that Arkansas is only allowed to charge 10% interest for vehicles. Please help if you know the law.


with a FICA score in the high 700 range can I find any low interest auto loans and what might that rate be?

valvevalvevalve asked:

Toyota is not offering incentives on the Camry Hybrid. Can the dealer secure a low interest loan for me through another source? What rate could I expect?


September 23, 2009

Capital One auto loans?

linkinparkchic asked:

Has anyone used Capital One for an auto loan?
If so what interest rate did you receive and how was your credit at the time. Or do you know what your fico score was like at the time you applied? I’m asking because mine isnt that great and I’m wondering what kind of interest rate I should expect. My score is a 658 with Experian due to past bankruptcy in 2003.


September 22, 2009

Ramifications for a cosigner on an auto loan?

jmh60441 asked:

My ex-wife really damaged my credit a couple of years ago. I need a vehicle now as I’m switching employer’s and have to give up my company car. I make good money, so the payment is not an issue, it’s just really unfortunate that my credit still suffers as a result of my divorce two years ago. My question is that if my girlfriend co-signs for me to get a favorable rate, will it affect her ability to purchase a vehicle, say a year or so down the line?
Defaulting on the loan won’t happen, but won’t her debt to income ratio be more limiting her ability to get a vehicle?
Yes it has been two years, but the cards were closed that she opened in my name and are shown on my credit as “charge off’s”. As part of the divorce agreement, I paid $12k to settle/close all of these accounts. I don’t have any credit cards now and no balances.

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