Auto or Car Loan
By Terje Ellingsen
An auto or car loan is necessary for most people when they buy
a new or used vehicle. Shopping for a car loan can be done many
places today, including online. Many companies send you a check
for the loan amount and you can simply make this check payable
to the auto dealer or car seller. This is all you have to do to
get the keys to your new or used car.
There are some lending companies that are really doing their
best to offer you a great auto loan. Good lenders always have a
friendly and professional customer service, regardless of your
credit rating. Be aware though that the best rates are for
customers with a high credit score. Wherever you apply for a
loan, it is subject to credit approval, which means that your
credit rate will be checked.
Many companies offer an introductory annual percentage rate,
which are changed after 30 or 45 days. However, what you should
look for is the long term interest rate, because this is the
basis of comparisons between offers from different vehicle loan
lenders. You should choose the lender with the lowest annual
percentage interest rate, all other conditions equal.
Another thing to look for in addition to the interest rate is
if and which fees are associated with your auto loan. Many
credit companies add lots of different types of loan fees like
payment fees, annual fees, penalties, etc. These fees should
also be included in the basis you use for comparing lenders. If
the interest rate is low but are eaten up by layers of fees, you
have to look closer at the offer. In all circumstances it is the
total cost of the loan you should compare because this is what
you pay for it.
Once you submit your car loan application online, it will be
reviewed by the lending company and you will receive a response
within a few minutes during business hours. If you apply during
non-business hours, your loan application will normally be
processed the next business day. It's really easy to shop a car
loan on the internet.
About the Author: Terje Brooks Ellingsen is an internet
publisher. He runs the website
http://www.cheap-used-cars.w-eland.com Terje gives advice and
helps people with automotive and financial issues like car
loans, see
http://www.cheap-used-cars.w-eland.com/used_car_loans.htm and
car auctions online, see
http://www.cheap-used-cars.w-eland.com/used_car_auction.htm
Source: http://www.isnare.com
Tuesday, August 7, 2007
Tuesday, July 31, 2007
Auto Loan Factory
Heal Your Credit Score With Poor Credit Auto Loan
By Karl Harris
Good credit score always assists an individual in borrowing an
amount from the financial market for buying an automobile. But,
what if an individual has poor credit score? Is he eligible to
perform in the financial market and have his own automobile? If
you are waiting for answer, then the answer is yes. And, means
through which he can perform is poor credit auto loan.
Poor credit auto loans are available in two flavours, that is,
secured and unsecured. The security in the secured poor credit
auto loan is the collateral placed. On the other hand, in
unsecured poor credit auto loan various documents and proofs
act as security. The documents may relate to:
• Residence proof
• Employment proof
• Flow of income
• Credit worthiness
These proofs not only act as security but they are also the
grounds upon which the decision regarding the interest rate and
repayment period is taken.
Usually, there are many types of interest rate which are being
offered by lender in the financial market but, most common are:
• Fixed rate of interest
• Variable rate of interest
Interest rate depends on the current market condition, bank
base rate and the amount being borrowed.
It is also true that the secured poor credit loan enables the
person to avail loan on low rate of interest as compared to the
interest rate in the unsecured poor credit loan. Another fact
regarding secured form is that the person can borrow large
amount that is less than or equals to the equity in the
collateral.
Poor credit auto loan, being a bad credit loan are expensive as
compared to other conventional car loan in the market. So, it
becomes necessary to check the pocket and budget before
availing the loan, in order to know whether it is affordable or
not.
The most effective and the cheapest way to get the information
regarding loans and various lenders is through online method.
Accessing through online also lets the person know whether the
lender is authorized and reputable or not. As dealing with
authorized lender, puts positive impact on the credit report of
a person.
But have you ever thought of the facts which create poor
credit? They basically happen when the person fails to maintain
a balance between his expenses and income; that is, overspending
or even bankruptcy etc. So, for the smooth functioning in the
financial market, the person should avoid happening of such
situation through making timely payments.
About the Author: Karl Harris is offering loan advice for quite
some time. To find a used Auto loan, bad credit auto loan,new
auto loan, poor credit auto loans, auto loan quote in US visit
http://www.advancedautoloan.com
Source: http://www.isnare.com
By Karl Harris
Good credit score always assists an individual in borrowing an
amount from the financial market for buying an automobile. But,
what if an individual has poor credit score? Is he eligible to
perform in the financial market and have his own automobile? If
you are waiting for answer, then the answer is yes. And, means
through which he can perform is poor credit auto loan.
Poor credit auto loans are available in two flavours, that is,
secured and unsecured. The security in the secured poor credit
auto loan is the collateral placed. On the other hand, in
unsecured poor credit auto loan various documents and proofs
act as security. The documents may relate to:
• Residence proof
• Employment proof
• Flow of income
• Credit worthiness
These proofs not only act as security but they are also the
grounds upon which the decision regarding the interest rate and
repayment period is taken.
Usually, there are many types of interest rate which are being
offered by lender in the financial market but, most common are:
• Fixed rate of interest
• Variable rate of interest
Interest rate depends on the current market condition, bank
base rate and the amount being borrowed.
It is also true that the secured poor credit loan enables the
person to avail loan on low rate of interest as compared to the
interest rate in the unsecured poor credit loan. Another fact
regarding secured form is that the person can borrow large
amount that is less than or equals to the equity in the
collateral.
Poor credit auto loan, being a bad credit loan are expensive as
compared to other conventional car loan in the market. So, it
becomes necessary to check the pocket and budget before
availing the loan, in order to know whether it is affordable or
not.
The most effective and the cheapest way to get the information
regarding loans and various lenders is through online method.
Accessing through online also lets the person know whether the
lender is authorized and reputable or not. As dealing with
authorized lender, puts positive impact on the credit report of
a person.
But have you ever thought of the facts which create poor
credit? They basically happen when the person fails to maintain
a balance between his expenses and income; that is, overspending
or even bankruptcy etc. So, for the smooth functioning in the
financial market, the person should avoid happening of such
situation through making timely payments.
About the Author: Karl Harris is offering loan advice for quite
some time. To find a used Auto loan, bad credit auto loan,new
auto loan, poor credit auto loans, auto loan quote in US visit
http://www.advancedautoloan.com
Source: http://www.isnare.com
Friday, July 27, 2007
Auto Loan Factory
Money for Your Car – Secured Car Loans
By [http://ezinearticles.com/?expert=Pamella_Scott]Pamella Scott
Imagine a situation, you are getting late for your office, you run towards bus stop in hope of getting bus, but when you reach there, you find that the bus has left. Then you again start finding taxis to reach your destination. This is the story of most of people these days. A car is the most convenient and accessible way to eliminate such situations. But financing a car on your own is not everybody’s cup of tea. Sometime you have to rely on financial support in form of secured car loan when you are lacking enough finances.
People consider a secured car loan only for buying cars but the truth is that you can use the secured car loans to cater any of your expenses related to car. You can use the loan amount for engine upgrade, paint work, buying accessories such as music systems, interiors, power windows and power steering, repairs and any other modification for your existing car.
You must be thinking about banks and financial institutions for financing your car, but do you know that private lenders are much better option to get the secured car loans. How???........ The answer is private lenders are private lenders are more open towards borrower point of view and offer you loans at low rates with faster approvals.
Secured car loans are secured by the car itself so you should be very attentive in making the repayments on time to avoid the collateral and credit loss. It is recommended to borrow amounts which you can able to repay afterwards out of your sources as other than repayments, cost of maintaining your car (i.e. petrol etc) are also added to your monthly expenditure.
You need to plan your purpose before going for any deal in secured car loan to ensure the efficient use of the money. This is done by going to car dealers, getting the prices of the car, comparing the prices, negotiating with dealers for discounts, additional accessories and car insurance which most of the car dealers provide these days. Also determine your share in financing your car to know the exact amount which you need as a loan.
Every this is done???......now comes the most important task of searching for a good secured car loan dealer. Instead of visiting lenders personally you can visit the large number of loan websites to get the free quotes which you can compare easily with the help of online comparison tools to get the deal of your choice as a secured car loan.
Pamella Scott is an author who can certainly identify your kind of loan. An unprepared borrower might find it very confusing to get out of the jargon of loans in UK. A loans borrower/user demands for timely, reliable, accessible, comprehensive, relevant and consistent loan service. To find Secured loans, [http://www.easyfinance4u.com/secured_car_loan.html]secured car loans, unsecured holiday loans, secured home improvement loans in uk that best suits your need visit http://www.easyfinance4u.com
Article Source: http://EzineArticles.com/?expert=Pamella_Scott http://EzineArticles.com/?Money-for-Your-Car---Secured-Car-Loans&id=306058
By [http://ezinearticles.com/?expert=Pamella_Scott]Pamella Scott
Imagine a situation, you are getting late for your office, you run towards bus stop in hope of getting bus, but when you reach there, you find that the bus has left. Then you again start finding taxis to reach your destination. This is the story of most of people these days. A car is the most convenient and accessible way to eliminate such situations. But financing a car on your own is not everybody’s cup of tea. Sometime you have to rely on financial support in form of secured car loan when you are lacking enough finances.
People consider a secured car loan only for buying cars but the truth is that you can use the secured car loans to cater any of your expenses related to car. You can use the loan amount for engine upgrade, paint work, buying accessories such as music systems, interiors, power windows and power steering, repairs and any other modification for your existing car.
You must be thinking about banks and financial institutions for financing your car, but do you know that private lenders are much better option to get the secured car loans. How???........ The answer is private lenders are private lenders are more open towards borrower point of view and offer you loans at low rates with faster approvals.
Secured car loans are secured by the car itself so you should be very attentive in making the repayments on time to avoid the collateral and credit loss. It is recommended to borrow amounts which you can able to repay afterwards out of your sources as other than repayments, cost of maintaining your car (i.e. petrol etc) are also added to your monthly expenditure.
You need to plan your purpose before going for any deal in secured car loan to ensure the efficient use of the money. This is done by going to car dealers, getting the prices of the car, comparing the prices, negotiating with dealers for discounts, additional accessories and car insurance which most of the car dealers provide these days. Also determine your share in financing your car to know the exact amount which you need as a loan.
Every this is done???......now comes the most important task of searching for a good secured car loan dealer. Instead of visiting lenders personally you can visit the large number of loan websites to get the free quotes which you can compare easily with the help of online comparison tools to get the deal of your choice as a secured car loan.
Pamella Scott is an author who can certainly identify your kind of loan. An unprepared borrower might find it very confusing to get out of the jargon of loans in UK. A loans borrower/user demands for timely, reliable, accessible, comprehensive, relevant and consistent loan service. To find Secured loans, [http://www.easyfinance4u.com/secured_car_loan.html]secured car loans, unsecured holiday loans, secured home improvement loans in uk that best suits your need visit http://www.easyfinance4u.com
Article Source: http://EzineArticles.com/?expert=Pamella_Scott http://EzineArticles.com/?Money-for-Your-Car---Secured-Car-Loans&id=306058
Thursday, July 26, 2007
Auto Loan Factory
Used Car Loans - 3 Tips For Financing Your Used Vehicle Online
By Carrie Reeder
Financing the purchase of a used vehicle can be done through
the convenience of online car loan lenders. Through their
websites you can request quotes, compare terms, and even apply
online. Online car loan lenders save you time and money by
making financing shopping easy. The following three tips will
ensure that you find the best financing for your vehicle
purchase.
1. Request Quotes
It is easy to compare rates online, but you really need to
request quotes to do real comparison. You should compare car
loans much like a mortgage. A difference as little as $17.00 a
month can save you over $1000 on a 60 month loan. Some lenders
charge fees, so watch for those. Sometimes small fees up front
will save you money through lower interest payments over the
course of your loan.
To find low rates consider using a car loan broker. They work
with several different lenders to bring you multiple offers to
choose from. You can also request quotes from individual lender
websites. With either type of site, you will receive your quote
instantly, enabling you to make a quick comparison.
2. Compare Terms
It is equally important to the compare terms of your car loan.
The longer loan term you choose, the more you will pay in
interest. However, longer loans also have smaller monthly
payments. You will also want to look at fees that may be
associated with early repayment or late payments.
Another factor to consider is increasing your down payment to
20% of the vehicle’s value. In some cases, this can qualify you
for a lower rate.
3. Get Prequalified
To gain added leverage in you car purchase get prequalified for
you car loan. By being prequalified, you get a blank check by
FedEx to go shopping with. You can use it to purchase a vehicle
from a dealership or individual.
In either case, you have the advantage as a cash buyer. There
is no question about your credit history, so there is the
incentive for the seller to close the deal. Take this advantage
by negotiating a lower price.
About the Author: Carrie Reeder is the owner of
http://www.abcloanguide.com, an informational website about
various types of loans. To view our list of recommended auto
finance companies online, visit this page:
http://www.abcloanguide.com/autoloans.shtml
Source: http://www.isnare.com
By Carrie Reeder
Financing the purchase of a used vehicle can be done through
the convenience of online car loan lenders. Through their
websites you can request quotes, compare terms, and even apply
online. Online car loan lenders save you time and money by
making financing shopping easy. The following three tips will
ensure that you find the best financing for your vehicle
purchase.
1. Request Quotes
It is easy to compare rates online, but you really need to
request quotes to do real comparison. You should compare car
loans much like a mortgage. A difference as little as $17.00 a
month can save you over $1000 on a 60 month loan. Some lenders
charge fees, so watch for those. Sometimes small fees up front
will save you money through lower interest payments over the
course of your loan.
To find low rates consider using a car loan broker. They work
with several different lenders to bring you multiple offers to
choose from. You can also request quotes from individual lender
websites. With either type of site, you will receive your quote
instantly, enabling you to make a quick comparison.
2. Compare Terms
It is equally important to the compare terms of your car loan.
The longer loan term you choose, the more you will pay in
interest. However, longer loans also have smaller monthly
payments. You will also want to look at fees that may be
associated with early repayment or late payments.
Another factor to consider is increasing your down payment to
20% of the vehicle’s value. In some cases, this can qualify you
for a lower rate.
3. Get Prequalified
To gain added leverage in you car purchase get prequalified for
you car loan. By being prequalified, you get a blank check by
FedEx to go shopping with. You can use it to purchase a vehicle
from a dealership or individual.
In either case, you have the advantage as a cash buyer. There
is no question about your credit history, so there is the
incentive for the seller to close the deal. Take this advantage
by negotiating a lower price.
About the Author: Carrie Reeder is the owner of
http://www.abcloanguide.com, an informational website about
various types of loans. To view our list of recommended auto
finance companies online, visit this page:
http://www.abcloanguide.com/autoloans.shtml
Source: http://www.isnare.com
Auto Loan Factory
All About Vehicle Financing
By [http://ezinearticles.com/?expert=Imran_K_Khan]Imran K Khan
The cost of new vehicle has gone up to £20,000 and the best option is to finance a part of the cost from the leading banks or financers. You will find a number of financers or banks at your doorstep ready to finance your vehicles perhaps you have a good credit report. These financers or bank may charge different interest rate and therefore you should be cautious while selecting a particular bank or financer through your dealership for your vehicle financing.
You should carry out a little calculation and should get the best option of vehicle financing. All the banks and financers provide you rate or monthly installment for your loan for the vehicle and thus you can get a fair idea. Although all the dealership has finance and insurance department to deal your finance and insurance at the same shop, even then a rate idea will give you better opportunity to understand the financial terms offered by dealership.
Once you decide to finance your vehicle from a specific creditor, you will be asked to fill up a form by your dealer. The detailed information such as your name, social security number, your present and past employer, your monthly gross income, your present and past address etc may be asked. Your vehicle financer will obtain a copy of your credit report and forward your application on the basis of your detailed credit report.
Your dealer approaches to few banks for approval of finance on the basis of your credit reports. These potential financial companies evaluate your application and on the basis of a credit rating either accepts or rejects your application. In some of the cases a co-signer or guarantees is required to sign your application if a minor deficiency is in your credit report. These financers or banks do not deal directly with the vehicle purchaser and takes their decision on the basis on credit report submitted to them, and other terms and conditions including the finance required. On the basis of the credit ratings obtained on your credit history, the banks or financers offers a buy rate (interest rate) for you through the dealer and if you accepts this rate you are done with your vehicle financing.
You should not only negotiate the vehicle price but you should also ask a rebate and discount from your dealer. There is a huge margin for the dealer and your dealer may offer you some rebate or discount; however it differs from model to model.
There are several type of vehicle financing options are available to you including fixed rate financing and variable rate financing. There are various factors that determine your annual percentage rate or APR and these are your credit report history and your financial condition, market conditions and current financial rate. You can also negotiate about your annual percentage rate (APR) with the dealer at any time during vehicle financing but before purchase of vehicle.
Approved Car Finance experts in providing [http://www.approvedcarfinance.co.uk/finance/vehicle-finance.html]vehicle loans in the UK for quality new and used vehicles. Our aim is to provide the car you want at the price you can afford.
Article Source: http://EzineArticles.com/?expert=Imran_K_Khan http://EzineArticles.com/?All-About-Vehicle-Financing&id=415826
By [http://ezinearticles.com/?expert=Imran_K_Khan]Imran K Khan
The cost of new vehicle has gone up to £20,000 and the best option is to finance a part of the cost from the leading banks or financers. You will find a number of financers or banks at your doorstep ready to finance your vehicles perhaps you have a good credit report. These financers or bank may charge different interest rate and therefore you should be cautious while selecting a particular bank or financer through your dealership for your vehicle financing.
You should carry out a little calculation and should get the best option of vehicle financing. All the banks and financers provide you rate or monthly installment for your loan for the vehicle and thus you can get a fair idea. Although all the dealership has finance and insurance department to deal your finance and insurance at the same shop, even then a rate idea will give you better opportunity to understand the financial terms offered by dealership.
Once you decide to finance your vehicle from a specific creditor, you will be asked to fill up a form by your dealer. The detailed information such as your name, social security number, your present and past employer, your monthly gross income, your present and past address etc may be asked. Your vehicle financer will obtain a copy of your credit report and forward your application on the basis of your detailed credit report.
Your dealer approaches to few banks for approval of finance on the basis of your credit reports. These potential financial companies evaluate your application and on the basis of a credit rating either accepts or rejects your application. In some of the cases a co-signer or guarantees is required to sign your application if a minor deficiency is in your credit report. These financers or banks do not deal directly with the vehicle purchaser and takes their decision on the basis on credit report submitted to them, and other terms and conditions including the finance required. On the basis of the credit ratings obtained on your credit history, the banks or financers offers a buy rate (interest rate) for you through the dealer and if you accepts this rate you are done with your vehicle financing.
You should not only negotiate the vehicle price but you should also ask a rebate and discount from your dealer. There is a huge margin for the dealer and your dealer may offer you some rebate or discount; however it differs from model to model.
There are several type of vehicle financing options are available to you including fixed rate financing and variable rate financing. There are various factors that determine your annual percentage rate or APR and these are your credit report history and your financial condition, market conditions and current financial rate. You can also negotiate about your annual percentage rate (APR) with the dealer at any time during vehicle financing but before purchase of vehicle.
Approved Car Finance experts in providing [http://www.approvedcarfinance.co.uk/finance/vehicle-finance.html]vehicle loans in the UK for quality new and used vehicles. Our aim is to provide the car you want at the price you can afford.
Article Source: http://EzineArticles.com/?expert=Imran_K_Khan http://EzineArticles.com/?All-About-Vehicle-Financing&id=415826
Monday, July 23, 2007
Auto Loan Factory
Bad Credit Is No More A Roadblock In No Credit Check Auto Loan
By Dick Spencer
Widening of the financial market has opened its doors for all
the people either with poor credit score or with good credit
score. During the process of widening, market has launched
various bad credit loans as per the needs and requirements of
person, such as bad credit business loan, bad credit tenant
loan and many more. In the same manner, the person willing to
own an automobile can avail no credit check auto loan. This
implies bad credit is no more a hurdle in applying for no
credit check auto loan.
Earlier, it was seen that the person was denied the loan just
for the mistake committed in the past regarding leniency in
making repayments. But now, no matter what is the reason for
the bad credit of a person, whether it is CCJ’s, IVA’s and even
bankruptcy, he still is eligible for no credit check auto loan.
Even a person with poor credit can apply but his credit score
plays a crucial role in the decision regarding amount which
will get approved and its repayment period.
Before applying for no credit check auto loan, there are
certain things, which the person is required to consider. They
are:
• Which automobile do you want to buy
• Determine your financial needs
• Which form of no credit check auto loan are you going for-
whether secured or unsecured
Availing loan from the physical market is long and time
consuming process. So, it’s better to avail loan through online
method. The market has number of online lenders who provide
funds as per the convenience of the borrower. Online method
also saves time and money of borrower as it involves no
processing fees and the borrower can apply when he feels
convenient either from home or office.
While applying, the person is required to ask for the loan
quotes which enable the borrower to compare the different loan
offers. Loan quote is the statement which shows an estimate of
the cost involved in the loan deal. The borrower must always
choose the deal with minimal cost which results in easy
repayment.
No credit check auto loan is an excellent opportunity for all
the poor creditors to own an automobile. It also helps in
improving the credit rating if timely repayments are made.
Repayment period of no credit check auto loan depends on the
amount being borrowed and the term chosen by the borrower. But,
it is always advisable that the person must choose short
repayment period as this will enable him to save money. And,
it’s also better because the person should unburden himself
with debts as early as possible.
About the Author: Dick Spencer is working with National Auto
Approval. He has a master degree in Business Administration and
expert in Auto finance. He writes about various finance related
topics. To find auto loans, bad credit auto loans, no credit
check auto loan, cheap auto loans, personal auto loans in USA
visit http://www.nationalautoapproval.com
Source: http://www.isnare.com
By Dick Spencer
Widening of the financial market has opened its doors for all
the people either with poor credit score or with good credit
score. During the process of widening, market has launched
various bad credit loans as per the needs and requirements of
person, such as bad credit business loan, bad credit tenant
loan and many more. In the same manner, the person willing to
own an automobile can avail no credit check auto loan. This
implies bad credit is no more a hurdle in applying for no
credit check auto loan.
Earlier, it was seen that the person was denied the loan just
for the mistake committed in the past regarding leniency in
making repayments. But now, no matter what is the reason for
the bad credit of a person, whether it is CCJ’s, IVA’s and even
bankruptcy, he still is eligible for no credit check auto loan.
Even a person with poor credit can apply but his credit score
plays a crucial role in the decision regarding amount which
will get approved and its repayment period.
Before applying for no credit check auto loan, there are
certain things, which the person is required to consider. They
are:
• Which automobile do you want to buy
• Determine your financial needs
• Which form of no credit check auto loan are you going for-
whether secured or unsecured
Availing loan from the physical market is long and time
consuming process. So, it’s better to avail loan through online
method. The market has number of online lenders who provide
funds as per the convenience of the borrower. Online method
also saves time and money of borrower as it involves no
processing fees and the borrower can apply when he feels
convenient either from home or office.
While applying, the person is required to ask for the loan
quotes which enable the borrower to compare the different loan
offers. Loan quote is the statement which shows an estimate of
the cost involved in the loan deal. The borrower must always
choose the deal with minimal cost which results in easy
repayment.
No credit check auto loan is an excellent opportunity for all
the poor creditors to own an automobile. It also helps in
improving the credit rating if timely repayments are made.
Repayment period of no credit check auto loan depends on the
amount being borrowed and the term chosen by the borrower. But,
it is always advisable that the person must choose short
repayment period as this will enable him to save money. And,
it’s also better because the person should unburden himself
with debts as early as possible.
About the Author: Dick Spencer is working with National Auto
Approval. He has a master degree in Business Administration and
expert in Auto finance. He writes about various finance related
topics. To find auto loans, bad credit auto loans, no credit
check auto loan, cheap auto loans, personal auto loans in USA
visit http://www.nationalautoapproval.com
Source: http://www.isnare.com
Friday, July 20, 2007
Auto Loan Factory
Low Interest Rate Auto Loan - Increase Chances Of Getting
Approved For A Low Rate
By Carrie Reeder
Getting approved for an auto loan is easy. However, obtaining a
low rate auto loan may be a bit more challenging. When financing
any sort of merchandise, the interest rate received makes a huge
difference.
If you have bad credit, a lender will likely charge a higher
rate. In some instances, this may significantly increase the
monthly mortgage payments. If shopping for a new or used
vehicle, adhering to the following tips will increase your odds
of snagging a low rate auto loan.
When is the Best Time to Apply for an Auto Loan?
If financing an auto loan, timing is a crucial factor. For the
most part, lenders prefer applicants that display stability.
Thus, steady employment is a must. When applying for an auto
loan, wait until you have been with your current employer for
at least six months. If you have a habit of switching employers
every two to three months, an auto loan lender may consider you
a risky applicant, and increase the auto loan rate.
Establish Credit History
Before financing a home or auto loan, establishing previous
credit history will work to your advantage. Auto loan lenders
are more apt to offer lower rates if you have maintained a good
relationship with a previous creditor.
Building a good credit history is easy. You may do so by
applying for a major credit card, gas card, or retail credit
card. Upon receiving the card, make a few purchases, and pay
the balance each month. This will reflect positive on your
credit report, and quickly boost credit score.
Keep a Low Credit Card Balance
When judging an applicants credit history, lenders will also
assess whether a loan applicant can afford a particular
vehicle. If you have acquired a lot of debts, this may prevent
you from obtaining your dream car. Therefore, attempt to reduce
debts before applying for a car loan. Fewer debts will increase
your spending power, and make you eligible for prime rates.
Wait at Least Two Years after Filing Bankruptcy
If you have filed a recent or past bankruptcy, try and wait at
least two years before applying for an auto loan. After a
bankruptcy, lenders consider you a big credit risk. You may get
approve for financing; however, the interest rate may climb as
high as 18 percent.
Instead, focus on rebuilding your credit history. Immediately
following a bankruptcy, apply for a bad credit credit card. If
possible, attempt to open at least three new lines of credit.
By doing so, you will re-establish a good credit history and
improve credit score. After 24 months, you will likely qualify
for a reasonable auto loan rate.
About the Author: Try using
http://www.abcloanguide.com/autoloans.shtml for a Low Interest
Rate Auto Loan online. ABC Loan Guide's recommended lenders are
reputable and competitive in their rates.
Source: http://www.isnare.com
Approved For A Low Rate
By Carrie Reeder
Getting approved for an auto loan is easy. However, obtaining a
low rate auto loan may be a bit more challenging. When financing
any sort of merchandise, the interest rate received makes a huge
difference.
If you have bad credit, a lender will likely charge a higher
rate. In some instances, this may significantly increase the
monthly mortgage payments. If shopping for a new or used
vehicle, adhering to the following tips will increase your odds
of snagging a low rate auto loan.
When is the Best Time to Apply for an Auto Loan?
If financing an auto loan, timing is a crucial factor. For the
most part, lenders prefer applicants that display stability.
Thus, steady employment is a must. When applying for an auto
loan, wait until you have been with your current employer for
at least six months. If you have a habit of switching employers
every two to three months, an auto loan lender may consider you
a risky applicant, and increase the auto loan rate.
Establish Credit History
Before financing a home or auto loan, establishing previous
credit history will work to your advantage. Auto loan lenders
are more apt to offer lower rates if you have maintained a good
relationship with a previous creditor.
Building a good credit history is easy. You may do so by
applying for a major credit card, gas card, or retail credit
card. Upon receiving the card, make a few purchases, and pay
the balance each month. This will reflect positive on your
credit report, and quickly boost credit score.
Keep a Low Credit Card Balance
When judging an applicants credit history, lenders will also
assess whether a loan applicant can afford a particular
vehicle. If you have acquired a lot of debts, this may prevent
you from obtaining your dream car. Therefore, attempt to reduce
debts before applying for a car loan. Fewer debts will increase
your spending power, and make you eligible for prime rates.
Wait at Least Two Years after Filing Bankruptcy
If you have filed a recent or past bankruptcy, try and wait at
least two years before applying for an auto loan. After a
bankruptcy, lenders consider you a big credit risk. You may get
approve for financing; however, the interest rate may climb as
high as 18 percent.
Instead, focus on rebuilding your credit history. Immediately
following a bankruptcy, apply for a bad credit credit card. If
possible, attempt to open at least three new lines of credit.
By doing so, you will re-establish a good credit history and
improve credit score. After 24 months, you will likely qualify
for a reasonable auto loan rate.
About the Author: Try using
http://www.abcloanguide.com/autoloans.shtml for a Low Interest
Rate Auto Loan online. ABC Loan Guide's recommended lenders are
reputable and competitive in their rates.
Source: http://www.isnare.com
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