Posts tagged ‘credit rating’

What You Need to get a Car Loan

If you plan to finance your next car purchase you are not alone: more than 90 percent of all new car buyers need some sort of financing to buy their new vehicle.

If you are planning to buy a new car and finance it there are a few things you will need to do to make the experience less painful and more satisfying in the long run.

First Decide on the Car You Want

First things first. If you need a car try to determine exactly which one you want. Be a savvy consumer and investigate the different models and brands on the market. Look for the qualities you want, like interior space, cargo room, price and mileage. You should also consider the service record of the model you are considering: have previous buyers been happy with their new vehicle or have there been a number of service issues? Consider everything carefully before deciding on which model you want, but make certain you narrow down your choice before you ever set foot on a dealership lot.

How Much Can You Afford

You should start looking at financing options. How much car can you afford and what sort of financing can you get for it? These are questions you need to ask yourself and find answers before the real shopping begins. If you let the dealership make all these decisions for you, you might end up with a vehicle you would rather not have. A new car purchase is a big decision and one you have to live with for several years. Do your homework and don

How to obtain cheap car loan rates

Individuals who want to buy cars are always searching for cheap car loans. This is because a cheap car loan allows you to end up paying lesser amounts for the vehicle. Due to this, the savings could turn into a greater amount of money after several years. However, getting a cheap car loan depends on several factors. These auto loans rates are sometimes difficult to find, but there are certain procedures that could help you find one. Some of these procedures include the following:

Step 1: Know your credit rating

Always bear in mind that your credit rating has something to do with the loan rates you obtain. This simply means that when your credit rating is higher, it would be easier for you to obtain a cheap car loan. In order to know your credit rating, obtain a copy of your credit record from one of the three agencies handling it.
Look at the items included in the report and make some queries on items that you think are not correct. You need to do this before applying for a car loan for this allows an ample time to correct the problems in your credit report. Also make sure you have no other loans that are considered overdue. As soon as you know that your credit report is in order, you can now start looking for a cheap car loan rate.

Step 2: Do an extensive research

Before doing your search, make sure to arm yourself with some important facts. Figure out how much you are willing to spend and how much down payment you can afford. In case you don