auto loan rates

January 30, 2010

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!

Julie

January 26, 2010

How to Find Lower Auto Loan Rates on the Internet

Terry Asbra asked:


Nowadays many auto loan companies have come online in order to reach a broader audience. This also includes those companies who are trying to target those people who want to sign up for an auto loan immediately regardless of what interest rates are offered to them. Usually, if you don’t know how to go about it you can end up getting an auto loan with a very high interest rate online. This is why it pays to know how to get the best rates when you are searching for an auto loan online.

The good thing about doing a search for an auto loan online is that many brokers will offer you a convenient application which you can use online to compare various lenders. Some websites will even allow you to do a side by side comparison of various lenders while other websites will email you with the best auto loan options they have. Auto loan brokers online work really hard to try to get as many customers as they can and they are often willing to negotiate low rates with a lender you are interested in. This often results in much better deals if you do business via their website.

In order to get a more accurate quote I would always advise that you fill out the auto loan application form with as much detail as possible. Even the slightest difference in your income or your employment can mean a reduced interest rate.

Finding a good rate requires that you know exactly how to balance the rate you are offered as well as the duration of the loan. Loans with a shorter period often are accompanied with a lower interest rate but require a higher monthly payment. You will need to take a long hard look at your monthly budget to see what type of auto loan will work best for you.

Another good way to get a lower interest rate is to give a down payment when you are applying for an auto loan. A large down payment can significantly save you a great deal of money in monthly payments. If you put down a 20% down payment for your car you will qualify for very low interest rates even if your credit is really bad. You will also now be paying a much lower interest rate on 80% of the vehicle which you have financed.



Ralph

January 20, 2010

Auto Loan Refinance Question?

skiairplane asked:


My credit union approved me to refinance my vehicle for 3 years at 2.9% for a max of $25, 750.00. I owe $29,000.00. I will have to come up with the difference of $4000.00 which I only have $1000.00 of. I can take it off of one of my cards at 0% interest till 2010 and pay it off in 3 months. My question is is that wise? My current rate is 7.9% on the vehicle. When I bought it a year ago my score was much lower then it is now. Any thoughts?

Marjorie

January 9, 2010

Auto Loans Rates: Negotiate Interest Rate Smartly

Carney Alden asked:


 

Owning a car has now become a status symbol and we always look for our dream car to come at our door. The only hindrance between us and our desired vehicle is lack of sufficient cash in hand and we are afraid of the high interest rates while thinking of auto loans. Now you can have a cheap rate auto loan by using some key ideas and your personal negotiating power. Auto loan rates are variable and we must be smart enough to make the use of the opportunities. The most important factor while dealing with interest rates of the auto loans is your credit record. So you get your credit score before looking for auto loans. Any score above 750 is considered as good credit and you can easily negotiate with lender to get a cheap loan. People suffering from bad credit can find it difficult to get the interest rate low.

 

Auto loan rates are usually low towards the end of the month as firms want to increase the number of sales of the month. So you can wait for some days and go to lenders during end days of the month to have a cheap rate loan. Next thing that can help you to get a cheap loan is the down payment you make. Down payment reflects your repaying capacity and so if it is high the lender can get the interest rate low. You must be smart while dealing with lenders and should not put your all efforts at the start of the negotiation. Start with a low rate and move forward. As no one wants to loose a customer, you will surely get the desired deal. Lastly, don’t stick to a particular lender and look for all the options available so that you can have the option to get a better deal. Online search is the best option to deal with many lenders within short period of time.



Annette

January 6, 2010

Lowest Auto Loan Rates – How To Find the Lowest Rates Around

Hector Milla asked:


When the time comes to shop for a new car the last thing you want to be worried about is finding financing.

Financing can be an easy thing to achieve for some Americans, and be a worrisome tasks for others. Credit is almost the most important factor in obtaining the best auto loan rate, but with some companies it doesn’t have to be the deciding factor.

Hector Milla Editor of the “Direct Auto Loan Lenders” website — http://www.DirectAutoLoanLenders.com — pointed out;

“…Before you walk into a car dealership, try checking your credit report and score. Checking your credit report will give you the advantage to negotiate with the finance guy. Start out by researching the internet for companies that would best suit your credit score…”

Shopping around your local banks can also give you a better advantage for obtaining a better rate. Many banks are offering special introductory rates to individuals with a more than sub par credit rating. In this economy there are many financing deals available, but many aren’t advertise.

Also talking your family member or neighbor can also give you insight as to where to find a good rate. If you have a family member that has recently purchased a vehicle ask if they can give you the name of their finance company. Most finance companies provide discounts for referrals. This loop hole may benefit you and your referring friend.

“…Finding the lowest auto loan rate can sometimes be a difficult task to accomplish. Using these steps of researching the internet, asking around and checking your local bank can spark up some interesting deals. Remember to research each company and check their background on the Better Business Bureau to see if they have a satisfaction rating. No matter how tarnished your credit history is, there is always a finance company that is willing to help you…” added H. Milla.

Further information and instant approval auto loans regardless of your credit by visiting: http://www.DirectAutoLoanLenders.com



Kimberly

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