Posts tagged ‘auto finance’

Low Cost Auto Finance Packages

Deciding to buy a new car is not something most of us jump into lightly. Much thought and preparation go into this decision as it is an expensive investment. Not only do you have to carefully examine your budget to see how much you can afford, you also have to be prepared to make payments for several years. Since most people need a car loan to buy a new car, finance companies try to make it possible for everyone to get one.

Choose Your Lender Wisely

Choosing an auto finance company is also not something to jump into lightly. Do your homework and make sure to read all the fine print before you sign anything. Online lenders offer all types of car loans to people with various credit ratings. From low interest rate car loans for people with a good credit history to bad credit loans, no credit check loans and after bankruptcy car loans for people with less than perfect credit history. Many online lenders offer instant loan approval so you aren’t sitting by the phone nervously waiting for the bank to call. In some cases you may even get approval the same day.

Benefits of Shopping Online

One of the main benefits of searching for a car loan online is that you can instantly compare loan offers from several lenders at the same time. Many sites are set up as comparison only sites. They don’t actually offer any loans themselves. Much like a comparison shopping site for goods. This is also a good way to assess rebates and discounts and decide which is best for your situation.

Various Financing Packages

Finance companies and banks offer various auto financing packages. Each package has its own set of rules and regulations, such as:

  • the length of the loan
  • how much your monthly payment will be
  • the rate of interest
  • and the size of the down payment

Bottom Line

How much of a down payment you put on your new car is essentially up to you. But, lenders do have a minimum amount they are willing to accept. Do your homework and you will get the right loan for you!

Rebuilding Credit

There are circumstances that hit us in the face sometimes and the only solution is bankruptcy. But what happens if your car is ready for the car graveyard and there is now no credit for you to show a lender?

Some Lenders Are Willing to Take the Risk

Well this is where a car finance service provider can step in and help you in your dilemma. If you still have a reasonable amount of money coming in, have a look and see what you have left over to make on a car loan payment. If you have enough extra left over, then you are still able to get that car you so desperately need.

Times Have Changed

Under the old conditions there would be no hope whatsoever of achieving this monumental task, but legally you are still actually eligible to get a loan.
What you must do though is have very valid reasons as to why you have gone bankrupt. Most of the financing programs have a time limit of 6 to 12 consecutive months for you to pay off this loan. They expect that your conditions will be improved by than.

You just need to keep away from the auto credit options because that brings very high interest rates and possibly some charges that are not told about up front.

Draw Backs

Using auto finance is advantageous but does have some draw-backs. It

Tips in obtaining financing for an exotic vehicle

Car financing can also be used to finance an exotic car. This may sound like a conventional car financing. Financing an exotic vehicle is more risky and involves greater capital outlay. This type of financing requires careful planning compared to conventional car loans. You need to do the necessary procedures involved in order to obtain your goal of exotic car ownership. Obtain the proper financing option for an exotic car using the following tips.

1. Figure out the proper budget for the exotic car purchase. Consider the budget that you can afford and the available sources of funds to pay for the monthly payments involved in the exotic car financing. Be realistic in making the budget to avoid getting additional risks.

2. Consider the possible assets you own and use it to obtain the best financing terms offered. These assets include home equity and life insurance. You can also apply for personal loans by using these assets as the collateral. You can use the amount from your personal loan to finance the exotic car purchase. Personal loans are advisable since this type of loan involves lower interest rate and longer loan terms.

3. Look for credit terms and financing with competitive interest rates for exotic car using the internet. Look for online exotic car lenders using popular search engines such as Yahoo or Google.

4. Search for exotic car financing offers from banks and other credit unions. It is advisable to start searching for this type of financing from banks where you have an existing personal, business, checking, and savings account. You need to do this since banks are known to offer financing for their loyal and existing customers. Your local bank might offer you a better financing for your car since they have a record of some of your financial transactions with them.

5. Reverse the credit application process by allowing exotic car lenders to compete for the chances of financing your exotic car purchase. Competition between lenders could possible give you lower interest rate and monthly payments.

How to sell a car and provide financing for the buyer

Car financing can be an attractive method to attract buyers for the car you sell. Besides this, you can also place advertisements on the local newspaper and the internet to further extend the chances of getting attention from car buyers. In addition to this you should also prepare the car as well as the necessary documents needed to allow the buyer to obtain financing. You can easily do this using the steps below.

1. Prepare the car for the upcoming sale. Inspect the car

How to get cheap car finance

Getting cheap car finance is important to save money when buying a vehicle. This allows you to obtain car loans with lower interest rates, down payments, and monthly payments. In order to get budget friendly car finance, you should learn how to look for it. There are many useful ways to get this and some of these are written below.

  1. Search for the best loans offered

Search for loans with lower interest rates offered. Look for lenders who are ready to give the loan you need. Doing this allows you to pay lower monthly payments and lesser hidden charges.

Start searching by keeping in touch with lenders. They are the best source of information when it comes to the existing interest rates. Try consulting the nearest banks, credit unions, and online lenders. You can get a pre-approved loan and fill out some application forms from them. Just make sure to take these forms home. Evaluate all the rates offered and select the best one.

When searching for best loans offered, take the credit score you own into consideration. The credit score determines the applicable interest rates for you. Secure a copy of the credit score you own from leading credit agencies such as Equifax, Experian, and TransUnion. Doing this helps you find better interest rates available.

  1. Select a car with the lowest interest rate

Getting cheap car finance can also be accomplished by choosing a car with the lowest interest rate tied to it. Lenders usually offer low interest rates for longer lasting vehicle types and latest car models.

  1. Make your loan term short

Reducing your car