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Franklin
January 25, 2011
September 4, 2010
Used Car Auto Loan Rate
Christopher Whitcomb asked:
Nowadays as more and more cars are introduced the around the globe, everyone has a desire to own one. Individuals even do not mind buying a used car, if they get one in a good condition. The Modern scenario is such that most of them buy cars or most expensive commodities on credit. Even while buying used cars, you can avail loans if you can make the necessary payments. However, there are numerous financial organizations, which provide used car loans. Henceforth, it is imperative that we should study the used car auto loan rate that is offered by them for making the eventual decision.
When it comes to the number of sources from where you can get such loans, you will be glad to know that there are many of them. When someone wishes to get loans for buying used cars, the most important point that should be considered is getting them on the lowest used car auto loan rate available. Most financial organizations usually offer loans at a very low interest rate. However, they have hidden costs involved, which eventually make you pay more than what you acquired.
Apart from taking care of the used car auto loan rate, there are some other points on which you should pay attention. These auto loans should have a shorter payment period. As the used car usually costs less, it is advisable to take only a part of the price as loan and pay the rest upfront. Usually when used cars are bought from any dealers, they offer lowest available used car auto loan rate. It is seen that usually finance companies lower the rate for the auto loans, if the down payment is a good percentage of the price of the car.
The best way to know which financial companies provide used car auto loans at the lowest rates is to search on the web. Apart from the information of the rates, you can also find the reputation of these companies with a single click. Again, you also have the option of comparing offers of most companies providing used car loans. By making comparative studies, one can make the eventual decision without any trouble. You will usually get an opportunity to make an application on the internet without running off to the nearest branch.
Marvin
Nowadays as more and more cars are introduced the around the globe, everyone has a desire to own one. Individuals even do not mind buying a used car, if they get one in a good condition. The Modern scenario is such that most of them buy cars or most expensive commodities on credit. Even while buying used cars, you can avail loans if you can make the necessary payments. However, there are numerous financial organizations, which provide used car loans. Henceforth, it is imperative that we should study the used car auto loan rate that is offered by them for making the eventual decision.
When it comes to the number of sources from where you can get such loans, you will be glad to know that there are many of them. When someone wishes to get loans for buying used cars, the most important point that should be considered is getting them on the lowest used car auto loan rate available. Most financial organizations usually offer loans at a very low interest rate. However, they have hidden costs involved, which eventually make you pay more than what you acquired.
Apart from taking care of the used car auto loan rate, there are some other points on which you should pay attention. These auto loans should have a shorter payment period. As the used car usually costs less, it is advisable to take only a part of the price as loan and pay the rest upfront. Usually when used cars are bought from any dealers, they offer lowest available used car auto loan rate. It is seen that usually finance companies lower the rate for the auto loans, if the down payment is a good percentage of the price of the car.
The best way to know which financial companies provide used car auto loans at the lowest rates is to search on the web. Apart from the information of the rates, you can also find the reputation of these companies with a single click. Again, you also have the option of comparing offers of most companies providing used car loans. By making comparative studies, one can make the eventual decision without any trouble. You will usually get an opportunity to make an application on the internet without running off to the nearest branch.
Marvin
April 19, 2010
Would I be approved for an auto loan or lease with a 719 credit score?
Ryan H asked:
My main goal is to just get approved, but if I could get competitive terms, that would be a plus. I know I’m not going to get the BEST rates, but I’m hoping it would be around 7%. According to FICO when I ordered my credit report, they say a 7.2% rate could be expected with a 719 score. I’m 19 and have one credit card that I pay off in full every month (only use it for gas when I already have cash – just to build my score) and two student loans.
I have $2800 for a down payment, and if I buy, I’m looking for a 60 month term. Also, I’ve been at the same job for 3 years and have been promoted to assistant manager. My job does not show up on my credit report though, and I was wondering why that was (I pay taxes, it’s a “real” job, not under the table) — but next to it, it said it didn’t effect my score so I left it alone.
I’m sorry, but buying a car with 130,000 miles on it is not worth the $2800.
Phillip
My main goal is to just get approved, but if I could get competitive terms, that would be a plus. I know I’m not going to get the BEST rates, but I’m hoping it would be around 7%. According to FICO when I ordered my credit report, they say a 7.2% rate could be expected with a 719 score. I’m 19 and have one credit card that I pay off in full every month (only use it for gas when I already have cash – just to build my score) and two student loans.
I have $2800 for a down payment, and if I buy, I’m looking for a 60 month term. Also, I’ve been at the same job for 3 years and have been promoted to assistant manager. My job does not show up on my credit report though, and I was wondering why that was (I pay taxes, it’s a “real” job, not under the table) — but next to it, it said it didn’t effect my score so I left it alone.
I’m sorry, but buying a car with 130,000 miles on it is not worth the $2800.
Phillip
April 6, 2010
Is there a difference between an auto loan and buying the car with a credit card?
Daniel asked:
I have a car that has 20% interest rate but i received a credit card offer that has no interest for the first 6 months then go to a 14% apr. would that be cheaper than keeping the loan i already have?
Thanks for all the answers, but i forgot to say that i already have the car, i have had to for about 18 months of the 60 month loan. I also already have the credit card with the car limit high enough to pay off the rest of the loan, im just not sure if it is a good idea because i dont know if the payment of a loan is different than a loan on a credit card.
Daniel
I have a car that has 20% interest rate but i received a credit card offer that has no interest for the first 6 months then go to a 14% apr. would that be cheaper than keeping the loan i already have?
Thanks for all the answers, but i forgot to say that i already have the car, i have had to for about 18 months of the 60 month loan. I also already have the credit card with the car limit high enough to pay off the rest of the loan, im just not sure if it is a good idea because i dont know if the payment of a loan is different than a loan on a credit card.
Daniel
November 26, 2009
Auto Interest rates?.broad I know, I’m looking for a general idea of what to expect?
Penguins = Stanley Cup asked:
I am buying a new car looking to finance about $11,000. I had my credit run at a dealership just to see if I would qualify…they denied my request saying that I have good credit but not enough history and that I would require a co-signer. My parents will co-sign, both have excellent credit. My question is what kind of rate should I expect? The average rate in my zip code for a 48 mo. new car loan is 6.78%. The lowest available advertised I’ve seen is about 4.75%. Should I expect something around the low (4.75) the middle (6.78) or the high (7+)? Am I in any kind of position to argue for a better rate if a high one is offered considering my co-signer vs my credit worthiness?
John
I am buying a new car looking to finance about $11,000. I had my credit run at a dealership just to see if I would qualify…they denied my request saying that I have good credit but not enough history and that I would require a co-signer. My parents will co-sign, both have excellent credit. My question is what kind of rate should I expect? The average rate in my zip code for a 48 mo. new car loan is 6.78%. The lowest available advertised I’ve seen is about 4.75%. Should I expect something around the low (4.75) the middle (6.78) or the high (7+)? Am I in any kind of position to argue for a better rate if a high one is offered considering my co-signer vs my credit worthiness?
John