auto loan rates

January 6, 2011

Cheap Rate Auto Loans – Finance Your Car at a Lower Rate

Frank Dervin asked:




These days, getting a loan is not a big deal. Anyone who fulfills certain basic conditions relating to his age and citizenship can raise enough funds by means of loans. But the problem arises when at the end of the year, you find that your monthly salary has been used just in paying the expenses of routine life and no savings have been made so far to pay the installments of the loan.

The fact is that, your monthly savings could have been managed to pay the amount of the loan, but the interest on these loans was so high that you were not able to collect sufficient funds to repay the principal amount even. The same can be the case with the auto loans. But, all these worries have been removed by the help of Cheap rate auto loans. The extra feature of these loans is that these carry a very low rate of interest. It has made these loans the most favorite loans by the UK citizens.

These loans are not only helpful in financing your car at lower cost but also assist you in collecting essential information about different sellers of the cars. This facility is provided online. The expenses that you might have incurred in making market surveys are totally minimized through these loans. Besides this, your time is also saved. This is the most convenient kind of buying the right and most suitable car.

These loans may require you to pledge any of your assets, like your home, to the lenders so that they can offer you the lowest rates of interest. Sometimes, the period of repayment is also influenced by the value of this security. However, the settlements can be made by both of you depending upon the amount of the loan. In addition to this, these lenders also finance the used cars at very nominal rates.

Suzanne

September 12, 2010

Credit/Auto loan question?

Cheyenne asked:


I am looking into getting a loan for a new car. I’m being told that my interest rate is 15%. That seems high to me. There are 3 negative marks on my credit report but all were under $500 and have since been settled. I have had an auto loan for 7 years and have never been late on a payment. I just opened a small limit credit card and pay it off each month. Should my interest rate really be that high?

Also if I open a savings account at a credit union how soon would I be able to get a loan through them?

Thanks for any advice
Yes, the dealership is finding the lender. My previous lender was Chrysler and they will only finance Chrysler vehicles so I can’t go through them. The dealership actually told me that several banks flat out denied me. I have a copy of my credit report and it’s not all that bad. I’m going to call the credit union today.

Colleen

July 7, 2010

Credit Score, Auto Loans and Interest Rate?

Cupcake asked:


I just pulled my yearly credit report and my score is 648. A year ago I think it was 540, so it’s jumped up quite a bit. I’m considering getting a newer used car (Mini Cooper or VW Bug) next spring once I have enough saved up for a small down payment.

I’m curious as to what kind of an interest rate I might be looking at and how much of a loan I could receive. Granted I’d rather get a new car, but getting a loan on a $19,000 car with mediocre credit probably isn’t the smartest bet. :) This will be my first car and I want something that’ll last me for a bit.

Carlos

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