auto loan rates

January 29, 2011

Federal Stafford Loan: What is “interest rate reduction for auto-debit”?

katechaos34 asked:

Should interest rate reduction for auto-debit be high or low? What does it affect?


January 28, 2011


Filed under: Howto — Tags: , , , — admin @ 6:25 am
CoopServicesCU asked:

Get down on auto loan rates with Co-op Services Credit Union’s “Get Down on Rates Sweepstakes”, where you can win big! Check it out at


January 25, 2011

How To Get A Car Loan Fast, Even If You’ve Never Applied

bequiahotel asked: for the best car loan information. Auto Loan Rates Slashed In Effort To Stimulate Economic Growth The Obama administration has pressured lenders to get the economy moving again, and as a result now is the best time ever to get a new or used car loan. Even if you’ve never considered buying a car or truck on credit before, you should explore the option. Because auto loan brokers are desperate for your business they are offering some of the most attractive rates ever. Of course you should be an informed consumer when shopping for a loan. That’s why many internet sites like have sprung-up to help consumers make wise loan choices. You can get some of the best rates ever right now, because lenders want to lend to you. Even if you have bad credit Put yourself in the drivers seat. Learn more at http


Car Loan Seattle | Auto Loan Calculator

CarLoanSeattle asked:

Get a fast car loan here. We have an instant online application. Bad credit, no problem. Use our auto loan calculator today. Car Loan Seattle 2162 5th Ave N Seattle WA 98109 (425) 996-7628


January 24, 2011

How Your FICO Score Affects Your Auto Loan Rate

Hector Milla asked:

Just like with other loans, your FICO score impacts your car loan as well. The higher your credit rating score is the lower your auto loan interest rate will be. One large error auto consumers make is looking at cars without knowing what their credit rating is and what types of financing they can receive. Many times auto traders lure consumers in with promotions involving funding that includes 0% basic interest rates and low monthly payments.

These promotions are very misleading. It is your responsibility to know your credit rating as well as all of the financial obligations if you have before you even start shopping for a car. What people don’t seem to pay attention to is that these low rates are really reserved for those individuals that have superior credit ratings and not for those who have poor credit ratings.

Another familiar credit score that you may have heard of is an enhanced score, or FICO Auto Industry Option. This is different from your normal credit rating. The major difference between this score and your standard credit account used to obtain an auto loan is that the rates depend on how you managed your prior vehicle loans. If you have a pre-existing bad rating, but you are creditworthy because of the way you dealt with auto loans in the past, you may be able to secure a loan with a much lower annual percentage rate. If you are a first time car buyer, or have no additional automobile funding on your credit account, you are usually not in a position to obtain these types of flexible car loan terms. You will have to build your credit rating in a methodical manner, and as you construct a positive relationship with lenders, your poor credit score will start to increase.

Auto lenders correct their interest rates based on a range of credit rating factors and features. If your score descends within a particular range of relative scores, you will be offered the going rate of interest for that range and that range alone. In most cases, interest rates fall about 4% for every 20 to 40 points that your rating goes up.

Regardless of what your FICO score is, what is important is that you know what needs to be done to increase it so that you can secure an auto loan efficiently and without much hassle.To speed up your process, you should try to pre-qualify for your auto loan online and get your funding worked out prior to shopping for the vehicle of your dreams. When you do this, you’ll know exactly how much you can afford to spend on your car and how it will affect you financially.


January 22, 2011

How to Finance a Car

Howcast asked:

Expand the description and view the text of the steps for this how-to video. Check out Howcast for other do-it-yourself videos from Dynamic and more videos in the Car Finance category. You can contribute too! Create your own DIY guide at or produce your own Howcast spots with the Howcast Filmmakers Program at Make sure you get the best possible terms on your car loan by doing your homework. To complete this How-To you will need: Your credit rating A pre-approved car loan Math skills On-time payments A down payment (optional) Step 1: Get your credit rating Request a copy of your credit report by logging onto or by calling 1-877-322-8228. You are entitled to one free copy per year. Car loans are based on your credit rating, so make sure there are no mistakes. Tip: Try to scrape together a down payment of at least 15 percent, which will greatly reduce your financing costs. Step 2: Shop before you shop Once you figure out how much you can afford to spend on a monthly payment, and before you set foot on a car lot, get a bank or credit union to pre-approve you for a car loan. Tip: Search online for sites that compare current auto-loan rates. Step 3: Focus on the APR When comparing loans, focus on the APR—annual percentage rate—rather than the monthly payment. It’s more important to have a low interest rate, as long as you can make the payment each month. Tip: Resist the temptation to finance a car for longer than 48 months


January 20, 2011

Shocking Auto Loan Rates at NRLFCU!

Filed under: Autos — Tags: , — admin @ 6:22 pm
nrlfcu asked:

Auto loan rates are so low at NRL Federal Credit Union that some members are having a surprising reaction.


January 18, 2011

How is the interest on my auto loan calculated?

Filed under: Credit — Tags: , , , , — admin @ 8:39 pm
Jessica B asked:

My interest rate is 2.9% and every month, the amount that goes towards interest fluctuates (up and down) by as much as 10 dollars even though I pay the same amount each month. Is the interest calculated monthly (.029/12) * Amount Remaining or is it calculated factoring days in the month and when I paid?

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