auto loan rates

April 8, 2010

Bad Credit Auto Loan Rates – Online Lenders Offering Lower Rates

Jason Lanier asked:


You’re thinking about getting an auto loan but you’ve got “slow credit”? Have you thought about applying for an auto loan but are concerned that you won’t get approved and that if you do, you’re going to end up with high auto loan interest rates?

The solution is on the internet with online auto loans…

There are many different companies that can help you, however not all are created equal. Just like every other kind of business, there are good and there are “not so good”. You’ll find that there ARE reputable lenders online that can help you, but finding them may be a bit of a challenge if you’re not familiar with financial services. (Recommended Site)

One of the best things that you can do is to not accept the first offer that you are given, especially if it’s at a car dealership. Make sure that you’re getting the best deal for you, and not necessarily for the dealers commission check. There’s good options for you if you just take a little time an check them out.

Make certain that any lender that you deal with online is legitimate and reputable. Some are in great standing with the Better Business Bureau, which is always a good sign. Others just come and go and aren’t even around for very long at all. Using a respectable, legitimate source to get a real auto loan quote is the only way to go if you want a real loan that will be affordable and allow you to drive something that you’ll be proud to own.

The best auto loan rates for people with bad credit can be found with some good companies. Remember to always avoid predatory lending practices and make sure that you read the fine print in any auto loan contract!



Connie

March 28, 2010

Auto Loans Rates – What to Look for While Taking an Auto Loan

Kalvin Jason asked:


Nobody from the middle class can afford to pay the entire cash at a time to buy a car. At most one can pay some upfront payment and get the rest of the amount financed by someone. The amount of upfront depends upon the type of loan you are taking. This means that there are several kinds of auto loans rates available: both on the internet as well as with your local banker.

While there are limited options available with your local banker, you can find an unlimited number of schemes with the money lenders operating on the internet. You can check out the different schemes of each lender and then zero in on to the best scheme. The auto loans rates vary from lender to lender and within the different schemes available with the lender. You can ask for a quotation or else you can use the free loan calculator available on most websites.

The loan rates depend on the following factors:

1. The amount you are getting financed. This excludes any upfront payment you are willing to make. In case of 100 per cent finance, the interest rate is the highest.

2. The type of loan you are taking: unsecured or secured. Auto loan rates are less for the secured loans as you place some collateral. For unsecured loans, the rates are a bit higher than that of secured loans. For unsecured loans, you do not place any collateral as such.

3. The tenure of the loan: When you take a short term loan, the interest is applied to the loan amount and then is distributed into equal parts. As the number of parts is less, you get to pay higher instalments but then you save on the interest. In contrast, a higher rate of interest is applied to longer period. The advantage is that though the interest rate is high, you get to pay lower amount as instalment.

To save you the headache of calculations, many websites offer loan calculators so you can yourself calculate the different instalments for different schemes and different loan amounts.



Leslie

March 24, 2010

Auto Loans Rates: Making Life Simpler

Kalvin Jason asked:


 

A vehicle is a must for flexibility in commuting and is also a luxury element. Owning a car makes you a part of that society which believes in having luxury. You earn well, your credit is good but still spending it on a car at a go is not something you can afford. A monthly instalment scheme which will help you get a car should work out better. Auto loans rates offer you just that very instalment scheme you are looking for. So now your car is not a far away dream.

Auto loans rates are 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. The auto loans rates short term loans and the auto loans rates 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.



Darren

February 4, 2010

Auto Loans Rates: so Now Your Car is not a Far Away Dream

Carney Alden asked:


Owning a car makes you a part of that society which believes in having luxury. You earn well, your credit is good but still spending it on a car at a go is not something you can afford. A monthly installment scheme which will help you get a car should work out better. Auto loans rates offer you just that very installment scheme you are looking for.

Auto loan rates are influenced and keep changing with the credit score of the borrowers. There are multiple auto loans in the market, some are for good credit holders and some are for bad credit holders. To get the cheap rates, there is a small trick. If you are among those who can bargain well, then you are lucky. If you can bargain smartly and effectively, you can get a loan rate which suits you completely. It is better to start the bargain with very low rates so that, at the end, you can get affordable and easy payable rates.

Many people just consider rate of interest to lower the rates. But annual percentage rate or APR is the important thing to look for when calculating the total loan cost. Down payments are important feature which affects the other loan features. If the down payment is big, the interest rate is low and the loan term is long. Long term loans have low interest rate than the short term loans. a good credit scorer can get the loans with lower interest rate comparing to a bad credit scorer, whose interest rates will be little higher. Secured loans are low in interest rates and extended loan term than the unsecured loans.

Auto loans are generally secured with the car itself. Many lenders also take other assets as the collateral against the loan amount. The borrowers can get these auto loan rates online and by visiting the lender’s offices. These days online mode is more convenient.



Joel

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 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

December 28, 2009

With Cheap Auto Loan Rates, Enjoy the Drive

Frank Dervin asked:


In todays fast pace life, time is money. Hence, the more time you save, the more you earn. Now, probably, you can’t continue using the public transport for ever. Because, if it is cheaper service, it requires more time than otherwise. So, there comes a time when it is better to spend a little on automobile than spending more time. Because, for you time is more important than money. But even in this case, when you have handsome earning and a good credit, paying full amount of money at once to buy a car is not something everybody can afford. A monthly installment scheme which will help you get a car should work out better. Auto loans rates offers you just that very installment scheme you are looking for. So now your car is not a far away dream. Very soon you can enjoy the drive…

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. The auto loans rates short term loans and the auto loans rates 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 have varied options to visit lenders to get auto loans at cheap rate but the most convenient is to sit in comfort of your home, search online and shortlist an auto loan provider who offers cheap rate. Log on to the particular lender’s website 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.



Scott

December 10, 2009

Auto Loan Rates – Using Online Lenders to Get the Best Quotes Outside of Dealer Financing

Jason Lanier asked:


If you don’t know what you’re doing, you can get smoked at a car dealership. Most people don’t understand the process that a dealership goes through when comparing quotes and approvals for your auto loan. Understanding this and knowing how you can use the same process to your advantage with an online auto loan, can save you thousands of dollars in excess finance charges and fees.

This is how it works…

When you go into a dealership to get approved for a car loan, the dealer submits your credit application, along with information about the vehicle that you’re purchasing, to several lenders. Each lender responds with an answer that either approves your loan or not, with varying stipulations (if you have bad credit). The dealer then searches through the responses and picks the approval that will make the dealer the MOST money.

How do dealers make money on my loan or auto loan rates?

Believe it or not, a dealership gets incentives for sending your loan through some companies. Finance companies will even pay cash money to finance managers that steer business their way. For example, one company when I was a finance manager, would give me a $500.00 Wal-Mart gift card if I sent them 20 customers a month. Not a bad deal, huh? So do you think that when I could give a customer a better rate with another company, or send them to the more expensive company that was padding my wallet, who do you think the deal went to? You guessed it and that’s one of the reasons that I left the car business.

Also, dealers make money by inflating your interest rate. If you get approved at let’s say, 12%, the dealer can add 3 percentage points to your loan. Some finance companies allow the dealer to add as much as 6 percentage points. So if you walk out paying 15% interest, when you could have paid 12%, think of how much money you would save if you were able to cut the middle man out of your auto loan rate.

The only way around it is to REVERSE the system an put it to work for you.

You can submit your information to lending services online that will cut out the middle man. Buy initiating the financing end of your car purchase online, you can get better auto loan rates, and save money on excess finance charges that you didn’t have to pay to begin with. It’s only dealer profit that stands in the way of you getting better rates and a better approval that is more affordable. When there is no one that has a commission check at stake, it’s amazing at how much better of a deal you can get.

http://www.BuyingCarswithBadCredit.com can help you with lower loan rates. If you have bad credit, there are sources that are willing to help you to overcome the challenges that you are facing, while helping you to rebuild your credit with a good auto loan.



Michele
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