auto loan rates

March 13, 2011

My auto loan is in my grandfathers name.What should I do if he passes away?

Filed under: Buying & Selling — Tags: , , , — admin @ 3:10 am
Kyle asked:


We have a $35,000 loan to which he is the soul signer. I make all of the payments and also make $75,000 a year. I’m 23 and my credit score is like 615. I’ve filed bankruptcy and it has been discharged for like 14 months. I was approved for $18,000 myself but with him being the soul signer the rate was way better. My question is what should I do if he were to pass away?

Dale

January 9, 2011

Need help with a Bad Credit Auto Loan?

suzann gilliland asked:


Has anyone got a bad credit auto loan? I need one, and can’t seem to find one. I’ve tried applying for a bunch, and can’t seem to get one.

I’ve worked at my job about 10 months, rented for about 1 year 2 months, and make about 1500 a month gross. My credit has been awful since June when I stopped paying on about 8 different credit cards. So it’s definately rated at BAD.

Any feedback would be great! Thanks in advance!

Steven

January 1, 2011

How long do i have to wait before refinancing my auto loan?

Filed under: Buying & Selling — Tags: , , , , — admin @ 11:59 pm
luvbug7982 asked:


6 months? a year? im working on my credit, its getting better and better but i just bought a car, interest is a little high but i got it hoping that making my monthly payments on time will also boost my credit rating. Of course, i dont want to end up paying all the interest on it so im wondering how long i should wait before trying to refinance with another bank at a better rate?

Tony

December 2, 2010

Where should I go to finance an auto loan?

jc asked:


Should I use my bank, a credit union, the dealer? If I have good credit, which will give me the best interest rate and monthly payment?

Gilbert

October 8, 2010

Is it cheaper to buy car from a private party or from a dealer?

Filed under: Buying & Selling — Tags: , , , , , — admin @ 11:53 pm
Lakerfan asked:


Here is the scenario: If I buy from the dealer, the interest rate on auto loan is 5.5%. If from a private party, I would need to apply for a personal loan with interest rate 10%.

Ted

September 21, 2010

What interest rate can I expect to get on a $15,000 Auto Loan?

TrogdorTehGreat asked:


I’m 22 and I don’t have any credit. I don’t have any debt but all of my bills are in my fiance’s name so I’ve yet to establish any credit history.

I’m getting my first Credit Card this week, and intend to use it/pay it off for the next 3-5 months. I’m hoping this will at least help me build and a small amount of credit history although I know it has a lot to do with longevity but I’m in need of a car soon.

Realistically, if I have a co-signer with very good to outstanding credit, what type of interest rate can I expect on a $15,000 60 Month loan?

Chester

August 15, 2010

Can someone explain auto loan interest?

Phillyfan23 asked:


In investigating some auto loan potentials for me, a poor credit borrower…here was one proposal i saw…

The amount financed …car and taxes …would be 17,848

The interest rate is 18%, and it lists finance charge as 11,663.71 for a total of 29,512…its a 72 month term

The rate i expected as with my credit its in line with what it should be…but does that seem right for the total charges, i mean the total finance charges is over 50% of the total cost…

I’m not sure how they calculate interest in these things, but can someone with knowledge help me out to see if i’m not being burned besides the interest rate?

Carla

August 11, 2010

Auto loan question on new purchase?

darkwizard3533 asked:


i just got an auto loan for $8200 with 6.25% APR. sounds good right? well heres the problem. on the sales contract listing the financing details heres whats listed:

term is 60 months, 6.25% APR, $8200 financed. thats well and good.

but heres the swirly part. Finance charge is listed as $4280. this is supposed to be based off APR and amount financed and this value from what ive found is way to high.

this results in my payments being about 48 dollars higher,a nd as a result my total price payed at the end of the of the 5 years is $12480.

the auto loan calculators ive tried online show payments of $159

the contract shows $208 payments. the problem appears to be the finance charge as being calculated way to high. everything ive found
points to it being way to high.

this is supposed to be financed through a third party, a credit union. the dealer was supposed to set things up for me. seeing as the math is completely screwed, but im only getting $8200 financed at 6.25% apr through the credit union im curious as to how this is gonna work out. the dealers contract shows one things, but everything else shows another.

i have a separate sale contract showing the final price of $8200 after tax title and my down payment. so what i owe and the interest rate can’t be disputed. but the financing numbers on the other contract are bogus.

of course this is the day after. go me i wait till now to research this crap. :(

Duane

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