Maya asked:


Hi,

I am about to buy a 2007 Corolla LE. I want to check the best interest rate for an auto loan with bank of America (where I have an account), capital one and local credit union before hearing the dealership rates.

I have pretty good credit score. (Experian : 740). No other loan and debts. But less credit history. Only 1.1/2 years, and my monthly income is around 1800. So if I apply online for Bank of america and Capital one auto loan to check how the rates are, will that affect my credit score when I go to dealer after 2-3 days?

Rodney

Ducky_077 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?

Hector

mememe asked:


I want me a 2005 chrysler sebring so baddddd!! And whats the best place to apply for that loan besides my shady credit union? I been with my credit union for 6 years now…and if i was to take my income tax check there they crazy @#$%^ want to hold it for 10 days, like the dam check aint mines!!

Amber

Jose Perez asked:




Lowering Interest Rates on Your Car Loan

Due to the low demand for cars, auto loan providers have been drastically cutting interest rates. As the demand for new car rises, these auto loan industry will be forced to change policy on their lending guidelines. This means that in the near future, interest will be going up. In case you were waiting to get an auto loan, now is the best time for you to do just that.

A lot of auto loan shoppers do not pay any attention to the rates or term on the auto loans. They only thing on their mind at that given time is that beautiful car which they will be parking in their garage very soon. If they would concentrate rather on the rates and terms been issued to them, they will definitely be paying lower interest rate on that car loan. Imagine a five year loan were you are able to save $40 a month because of reduced interest rate, that would fetch you over $2000 in savings. Imagine what you could do what that money.

They are various ways reduce your interest rate. The best way to lower your interest is to shop around. By getting as many quotes as you can, you will be able to get the best deal out there. If you are afraid that shopping around might reduce your credit score, there are some companies online were you can submit your information with an idea of what your credit score might be. These companies will take your information and submit it as many lenders as possible. it is best you have a firsthand knowledge of your credit report before you after that auto loan.

By paying points on the loan, you can actually buy down your rate. This will actually reduce your interest. Most lenders will actually allow you to pay points on your loan in return, you will get a lower interest rate. If you can afford the extra charge, then I would advise you to go for it. By going this route, it will definitely reduce your monthly payment. When your monthly payment is checked with your monthly personal expense, the lenders will see that you are at less risk of defaulting.

Whenever you go searching for an auto loan, you should keep getting a lower interest rate in mind instead of wondering about the sweet ride you will have while driving home. Keeping focused when shopping for a car loan will save you much in the long run.

Steve

kevandcambria asked:


I’m 22, been working at my full-time career-type job since July (just graduated college in May)…my credit score is about 730, and I have had a coupel credit cards for about 2 years, been payign rent for a couple years as well…basically what I’m getting at is do you think I have enough credit history to get approved for an auto loan (without being burned with an inflated interest rate)? You can rule out a parent as a co-signer because my dads credit is probably much worse than mine.

Amber

Russell Hadden asked:




Are you in need of car finance at lower rate? Do you face a lot of problems because you did not acquire a suitable finance? If yes, refinance car loan rate are the right option for you to avail instant funds at low interest rate with flexible refund options. There are a number of UK lenders in the monetary market that avail you with better deals and low rate. Therefore you can easily fulfill all your necessities on applying for this credit.

You can get numerous benefits on availing this form of advance. They are as follows:
* Instant availability of funds through online mode.
* Quick finance to acquire your dream car.
* You can acquire this advance at competitive rates.
* Easy cash with low rate and bendable repayment options.
* Speedy funds at reasonable rate of interest.

To be eligible for these advances, you need to fulfill certain conditions as,
* The borrower needs to be a permanent citizen of UK.
* He/she needs to have celebrated your eighteenth birthday.
* He/she needs to have a bank account in your name.
* He/she needs to hold a job in a reputed organization for a minimum period of 6 months.
* Lastly you must earn a minimum of £1000 per month.

You can simple apply and avail an accurate deal. All you need to do is to fill a single application form online with all your necessary details. on submission of the form the lender verifies all your employment and banking details and grants you sanction within 24 hours in your bank account.

Online method is the simplest way to obtain instant funds right in your account. By comparing finance amount you can get better deals at low rates. These credits are approved within less time because it requires less documentation and paperwork.

Carla

Save Darfur! asked:


I want to buy a car from private party what are the requirements for a 15,000 loan?
credit score?
what are the best places to apply?
for how long should I make the loan so i have affordable payments?
Best Interest rate I can get for a poor-fair credit score?

Marvin

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 www.howcast.com or produce your own Howcast spots with the Howcast Filmmakers Program at www.howcast.com 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 annualcreditreport.com 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 …

Doris

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?

Kelly

Thomas Ajava asked:




Interest rates on car loans have never been so low as they are now. That being said, all indications are rates will be going up in the near future as the Federal Reserve start pumping them up in general. Now is the time to lock in low interest rates if at all possible.

Many people don’t pay particular attention to the terms on car loans when they buy for the simple reason they are fixated on the car in question. This is a rather obvious mistake because even small changes in the amount of money you pay in interest can save you a lot of money over the length of a loan. If you save $50 a month on a loan by bargaining for it, that equates to a savings of $3,000 on a five year loan. This is the kind of savings that certainly is worth the effort of making.

So, how can you lower interest rates on your car loan? Well, the first step is obvious. You should shop the loan to as many lenders as you reasonably can. Unlike home loans, you tend to get a pretty good range of quotes from different lenders. They can range by a point or more depending on your credit situation. Try it and you’ll be surprised by how different the offers are.

The second strategy is to buy down your rate. This is done by offering to pay points on the loan. A point is equal to one percent of the total loan value. If you are seeking a car loan for $25,000, a point would be $250. If you offer to pay points up front to the lender, they will lower your interest rate.

This approach has two benefits. The first is some lenders will view you as less of a risk and will thus be willing to lower the rate enough that you save significantly on interest payments over the life of the loan. The second benefit is your monthly payments should be reduced as well. While this won’t save you money per se, it will give you some cash flow relief each month.

You should always aim for a low interest rate on your credit obligations. Interest payments can add up quickly over time, so even small savings can amount to major savings. Make sure to run the numbers with a calculator to see just how much you can save.

Peter