Month: April 2022

Guaranteed and Approved Car Finance

A car finance loan with guaranteed and approved terms is something that is quite commonly offered by many lenders and is something many prospective car buyers should consider when trying to get financed for their automobile. Automotive lenders and other lenders of car loans typically advertise using “guaranteed” and “approved” terms so that they can get you to apply even though your chances of qualifying for these terms is not very good. In order to get approved for these kinds of offer you typically need very good to excellent credit and lenders will make little exceptions even though you might petition them strongly.

When a lender tells you that you cannot qualify for these kinds of offers they will then tell you that you may qualify for some other loan with a higher rate and terms that aren’t quite as good as the guaranteed or approved offers. This is what they ultimately want, and as a prospective borrower you must be aware that these are the kinds of tactics lenders use just to get you in the door.

This is not to say that some people cannot qualify for such offers. If you do really have good credit and no significant negative marks on your credit report such as a bankruptcy, you can still get approved, you just have to make sure the rest of your application is in order as well. This means that you should have a provable income and employment history, as well as the kind of make and model car you intend to buy because lenders need this to determine whether they can issue you one of their specialized offers.

In the end you should shop around as much as possible so that you can locate the best deal and find a lender you feel comfortable working with. Try and obtain at least three to five quotes from lenders before you make a final decision as this will increase you chances at finding a low rate and good terms. The more you can improve your credit situation before you apply the better your chances will be at getting approved, so put the time in and you will eventually qualify for that great deal.…

I Have Bad Credit and Need a Car Loan – Where Can I Go to Get Approved With Reasonable Rates?

If you have credit problems and have been searching around the Internet trying to find a place to get approved for car loan, you have probably been met with a lot of resistance. There are so many different scams and gimmicks on the Internet in regards to auto finance for people with bad credit, that it can get really confusing. Especially when you are looking for a real opportunity to get auto finance and all that you seem to be able to find his gimmicks.

Legitimate car loans are available through just a couple websites on the Internet. In fact there are only a few large companies that are actually in the business of providing bad credit car loans to people online. Finding them can be a bit of a challenge but I have a feeling that this article is going to help you out.

You know all those advertisements that you see on television, the radio and your local newspaper? All those ads that say that regardless of your credit, you can get approved? Well, that used to be the case with most car dealerships before the economy tanked. Now, there are fewer and fewer lenders that specialize in bad credit auto finance. So, finding these types of sources in your local area can be a hassle. It’s a good thing that we have something called the Internet, isn’t it?

There are good sources on the Internet that can help you. Getting approved is simple and based upon your monthly income. If you have bad credit and need a car loan, you will find that there are much better opportunities available online for bad credit car finance then there may be in your local area.…

Bad Credit Auto Finance Options

People who are looking at bad credit auto finance will find that there are many different options available that can be structured to meet their needs. Because of the state of the many financial institutions finding the best options may take some time and effort.

There are different levels of “bad” credit. When looking at bad credit auto finance it is important to know which level the individual looking for financing is in. A person with a credit score of below 400 does not have any financing options. This score is below bad. Actually 400 is about as low as it can get. A person with a credit score of 400 will need to have family or friends provide the financing for an auto. In most cases this low of a credit score will not even qualify for a loan with a co-signer.

There are two other levels of “bad” above this score. If one is the next step up, they will be able to get bad credit auto finance completed more easily if they have been paying on their loans regularly for a period of time and the low score was due to a significant event such as medical expenses.

In most cases either level of “bad” will require a co-signer to get a bad credit auto finance loan. The loans that are given for bad credit auto finance are extremely high. Most of the time people getting these loans are trying to re-establish their credit and this is taken into consideration when they apply for the loan.

There are very few financial institutions at this time that will give bad credit auto finance loans to individuals unless they are at the 3rd, or best “bad” level. These are usually individuals who are just coming out of a bad situation, had a history of paying their debts on time and then hit a slump but resumed paying timely after a short time.

When looking for bad credit auto finance loans it is important to be aware that there will be more effort required on the part of the person getting the loan than a person with good credit would need to do. An individual getting one of these loans will want to check the lending institution out thoroughly and find out their policies and procedures on loans.

It is important to what their policies are regarding late payments and whether or not they will report a late payment to the credit bureau if it is one week late. A loan of this type can wind up causing more damage to an already bad credit history and needs to be avoided.

One important thing to remember is that even if one is trying to get a bad credit auto finance they are still the customer. In many cases lenders treat individuals who are getting loans as though they are doing them a favor. However, the customer is keeping the lending institution in business and without the customers who pay the extremely high interest rates the lender may not be in business.…

Getting an Easy Auto Loan – Simple Secrets

It is not difficult to find a reliable and appropriate lender online, as there are hundreds of websites that boast about being the best online easy auto loan lenders. The way we shop and do business has been revolutionized by the Internet.

Now, in order to finance and purchase a vehicle, not a great deal of time is needed. There are many websites that are ready to help you thoroughly in finding the best deals for easy auto loans, so that you may purchase your car or other vehicle as soon as possible.

You can do thorough research to find a reliable and reputed auto loan lender from the comfort of your own home. Proper online research speeds up the process of obtaining the best possible deal for an easy auto loan – and the great news is that anyone can do it, today.

There are many benefits of seeking online loans, not least that they are so accessible and often very quick indeed.

You may choose to try to get a loan by dealing with the lenders face-to-face. Yet, you may find that by doing so, this puts too much power in the hands of the lender.

By choosing online lenders, you can ensure that the whole process of the auto finance deal will be as swift as you want. Furthermore, with proper and complete descriptions about the terms and conditions of the loan on the website, you will get full access to all the hidden information about taking the loan and paying it back in the best suitable manner.

In addition, you can readily compare interest rates, special offers and other facilities provided by the lenders by searching for various online easy auto loan lenders.

Online applications for an easy deal are provided by most of the lending establishments. By opting for an online financing deal with the lender of your choice, you will ensure that the whole process of getting your easy auto loan will be completed quickly.

In many cases, you can apply for simple auto finance online and your loan application will be approved swiftly and within a day you will be able to go and purchase the vehicle of your choice.…

Auto Loan – A Few Key Points to Obtain One

Being in a position to attain a new auto these days means that you either have the cash available to spend or you have yourself a good credit rating and thus can get an auto loan. The first of these points – having a lot of cash lying in the bank, is fairly unusual, and to be honest, the second point – having a good credit rating is now not as common either. With this in mind why not consider a purchasing a used auto rather than new?

Buying a second hand car is not only more affordable but you can actually get lower interest rates too. There are many pre-owned autos that have a good maintenance record and have low mileage on the clock, while at the same time their prices are low too, in comparison to brand new.

Its not however, just so simple to get a used auto loan. Let’s now have a look at a few key points to consider before making the application.

1. Credit rating. With a good to great credit rating – just like when applying for a new auto loan – its easier to attain a used auto loan, and with competitive terms too. It makes sense to assess your own credit ratings before making a loan application. If its poor then take steps to try to improve it – check for mistakes on your credit records and challenge any you feel are incorrect; reduce your credit card debt as soon as you can; reduce any other debts when you can etc.

2. Make the decision how much you are willing to spend paying back your auto loan each month. How much can you afford? If you want to spend more than you can afford, how are you going to get your hands on the money to afford this?

3. Make sure to compare different lending options and companies. The best way to do this is to spend some time on the internet finding out which loans suit your needs and which do not.

4. As an estimate and rough guide, let’s presume you borrowed $5000 on your auto loan. This would entail you repaying around $100 a month – give or take a bit when considering variations of interest rates. For every $1000 you borrow you can expect to pay back about $20 a month. With this in mind it makes it easier to work out how much car you can afford.

Just as you would with any form of loan, with your used auto loan in place, try to ensure you pay your dues in a timely manner. If you are to get into the habit of missing a payment here and there, you are thus putting your car at risk as it could be repossessed. Furthermore, your credit score will take an unhealthy plunge too. Late payments can knock a whopping 100 points of your credit rating in no time! The lower your credit score then less chance of being able to get a loan in future, and even if you do, you will suffer with far higher interest rates.…

10 Tips to Save Money When Financing a Car

Thousands of car buyers are likely to come out every day and make their purchase. But many will pay far more than they have to because they fail to reflect and choose the best ways to financing their car before they buy.

A new car is in the top three most expensive purchase many us will make, after our residences. So, consider all available options carefully before buying committing to the purchase. Shockingly, research shows that nearly one out of three buyers does not even haggle over the price of a new vehicle, and just 3 out 20 spend more than an hour inquiring on financing.

Most people are not in the position of paying cash to buy a new car and it just isn’t in the realm of possibility. And even if it is, one may not want to use their saving to buy a new automobile. That means that you are either going to be getting a lease on the vehicle, or buying it through financing. When you’re buying, you’re probably financing it through the dealership, a banking institution, credit union, another financial institute, or maybe even a relative, a friend or someone close to you.

It is important to know as the cost of cars is on the up, it’s now more important than ever for buyers to make sure they get the best deal. In the bargaining on the purchase and on researching the right finance approach or insurance policy, at the very least several hours at home with a computer and phone at hand will make a dramatic difference to your money outlay.

Here are some tips:

1. Improve your credit;

If you plan on buying a car in the near future, it is absolutely necessary to spend some time cleaning up your credit report. If you can’t do it yourself many companies specialize in this and will do it for as low as $30 per month.

2. Borrow against your 401K;

If you are young, have a secure job and income and have the option to borrow against your 401K, any interest you’d be paying would not be lost. Check with your financial institution for the details and how much you can borrow.

3. Borrow from someone you know;

That is if you know you will pay them back as promised and agreed. In this case you could go one step further to make them comfortable in guaranteeing the loan by putting up some collateral such as the title of car at least.

4. Get at least 10 quotes;

Once you have a copy of your credit report and credit score, get 10 quotes from 10 different credit sources. This will also help when asking for a better rate and or negotiate a better sale price. Sometimes low APR credit cards will do just fine.

5. Get pre-approved;

This should be done on the ideal time to shop for a car loan is before you shop for a car. You can drive the car right off the lot. No waiting for the loan approval and disbursed and taking the check back to the dealer. In most cases the loan can be approved by your lender quickly.

6. Put a bigger down payment:

As part of your negotiations for a better interest rate, suggest a different percentage of down payment for a reduction in rate.

7. Dealer Financing;

With many car companies having their own lending affiliates you can pick a car and a loan in one application. The process is usually quicker than applying for a bank loan, and dealers are more likely than banks to qualify buyers with less-than-perfect credit ratings. They also usually help customers with special needs, like first-time buyers and students. Car companies often offer low-rate promotional financing on certain cars. This option can be more expensive, particularly for poorly informed buyers.

8. Negotiate the Terms;

3, 5 or 7 years? Which is right for you and which can you qualify for? Negotiate the car’s price before you talk about the terms of a loan, so the dealer can’t hike the car’s price to give you a lower-rate loan. Even when you get low dealer financing rates of 1% to 6%, there’s a catch… these loans are generally short term. Since many must be repaid in 24 months, monthly payments can be high.

9. Bank, Credit Union or Lending Institution;

Banks and credit unions usually offer set, where you cannot negotiate rates, but less expensive than dealer financing. They will push the unnecessary expense of credit life insurance, which ensures that the loan will be paid off if you pass on. Credit unions that offer auto loans typically offer lower rates than banks and financing companies. But finance companies are the …