Posts tagged ‘credit report’

Auto Financing – Guaranteed

In these trying times many families and individuals are suddenly finding themselves without a job. This quickly ruins the good you have spent years building up. Payments become overdue and there is nothing you can do about it. You are likely forced into taking a job at a drastically reduced wage and that doesn’t help you to get the car you so desperately need! Well, good news.

You Can Still Get the Car Loan You Need

It is no longer a must to have a huge income or perfect credit rating to get the car loan you need. Lenders are just as desperate for your business as you are for theirs! You can find many lenders extending bad credit car financing. A little research is all you need. Find the lenders and learn exactly what you need to do to improve your chances of getting accepted.

Trust the Experts

There are many more lenders than you may think, who are experts in dealing with credit problems of any kind. These lenders are easily approachable and they may be able to help you get the right loan for you. Even if you are rejected by dealerships, these lenders know the tricks of the trade and can often arrange to have your loan approved.

Dealers Can be Tricky

Don’t let the dealer pull your credit report, this could be a very costly mistake. Instead, find a reputable lender you can trust and allow him to handle your credit issues on a regular base. Browsing for cars does not automatically entitle every dealer to look at your credit report. The more inquires about your credit score, the worse this looks to potential lenders. A better plan would be for you to know your score and to have your own copy of the report.

Although you might not want to go around broadcasting your credit score, it is okay to discuss your credit issues with people you can trust and who can give you sound advice. And unless a lender is serious about financing your car loan, he has no business looking at your credit report!

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

Picking the Perk That’s Right for You

Low interest financing, zero-interest financing, a cash rebate? Deciding which deal is best for you can mean the difference between a good deal and a great deal on a new vehicle.

The U.S. automobile industry has surely taken a beating these last few years and it shows in their unwillingness to put just anyone behind the wheel of a pricey automobile. These days you better have great credit before you walk to the local dealership, but if you do, there are great deals to be had. Just make certain you carefully examine the deals before you decided which is right for you.

With a zero-rate or low-interest rate vehicle loan you get exactly that. A lower interest rate. You need to have some really outstanding credit to qualify for one of these loans but they offer you a really good deal if you can get one. You can also expect to put a lot more money down on your new vehicle, even with great credit. Banks simply don

Effects of failure to pay an auto loan

Failure to pay the payments involved in an auto loan would probably create significant repercussions on your credit report. However, there are still a number of less serious outcomes in case you fail to make the loan payments. Lenders are businessmen so they don

New car loan interest rates: How to obtain lower payments

Obtaining the best car loan interest rates may not be that easy and usually takes some time. What is important is that you are able to complete a good research before going to the nearest dealership to buy the car so that have would be a great chance of getting a good rate. Bear in mind that the rates involved in a car loan vary according to its structure and the credit history you own.

Although you might find the best rates offered by internet based lenders by using, lending institutions such as banks and credit unions are also capable of providing you with the best loan rates that are available in your area. This article provides you with a guide on how to obtain the best rates from these credit institutions.

Know your credit score

One of the most important things that you need to do before visiting the car dealership is to know your credit score. Review your credit report and your credit score by using MyFICO. Examine all of the information included on the credit report and make sure that all of these are correct. In case some of the information written on the report is not correct, you need to file a complaint from each of the three bureaus.

Search for existing special financing rates

You also need to check the special financing rates offered by manufacturers to their buyers. You can either check the special offers and incentives by checking the manufacturer

Car buyers guide in getting the lowest car loan rates

Buying a vehicle is an exciting experience but getting the lowest car loan rates to finance the vehicle would further make the experience more exciting. However, finding the right car is most of the time difficult since there are many car models offered on the market. The good thing is that getting the best car loan rate is easy to obtain. This article provides some tips that you can consider before going to the dealership.

Check your credit report

The best way for you to increase the chances of getting the best loan rates is checking your credit report. You need to examine the entries included in it to see if each of these is correct. This is important since most lenders base their calculations of the interest rates of your loans with the credit report. Do not hesitate to correct the wrong entries included on the report. You can also provide justifications of these incorrect entries when you go to the lender to apply for a loan.

In case the report shows that your credit score is low, make sure to improve this by looking upon your unpaid premiums. Paying your old dues improves your credit score therefore making you a lesser risk customer. This will not only affect the interest rate you get form auto loans but also the other loans that you wish to obtain.

Search for more financing deals

Searching for more financing deals helps you choose the offer that has the best rates included in it. You can do these by looking upon the available loan deals offered online. Using the internet also allows you to determine the offers solely offered for online applicants. These loan offers most of the time involve lower rates compared to those offered by banks and other credit institutions.

You can also check the loan rates offered by banks, credit unions, and dealerships. Compare their rates with those that you obtained from the internet.

New car loan rates: Useful advice in getting lower auto loan payments

When you are planning to buy a new car, you should include the existing new car loan rates as one of the things that need to be considered. This is important because the loan rate that you would be getting has significant impacts on the expenses involved in making the vehicle purchase. It is therefore necessary for you to obtain the best loan rates in order to spend lesser amounts on a car loan and avoid getting stuck in a tight financial situation. This article provides you with some tips on how to get the best auto loan deal with lower payments.

Secure a copy of your current credit report

Before you decide to submit an application for new car loan you need to secure the latest copy of your credit record. You can request a free copy of this from credit agencies such as Experian, Equifax, and TransUnion once a year. Examine the entries included on the report for possible errors and make sure that all of entries written on it are correct. In case there are errors, file a complaint on each of the credit agencies. Wait for the error to be corrected before submitting your application for a car loan.

Doing these things are important since your credit report serves as the most important basis for calculating the interest rate of the car loan that is suited to your financial condition. Always bear in mind that a good credit record allows you to obtain lower loan rates while bad credit record results to higher interest.

Know your credit score

You also need to know your credit score before you apply for a new car loan. Just like the credit report, the credit score is used by lenders in calculating the interest rates applicable for you. A good credit score means lower interest while bad credit scores most of the time results to higher interest.

Prioritize loans from prime lenders

Most car buyers prioritize loans provided by prime lenders for the rates of these loans are most of the time lower than what other types of lenders are offering.

How to obtain the most affordable auto loan APR

When you are planning to buy a car, you would probably use an auto loan to finance this. This simply means you wish to obtain the most affordable auto loan APR that is available. Using this article we would try to look for the best rates that suit your needs.

Check your credit score

Always expect that the rates suited for you would change from time to time due to the credit score you own. You can determine your credit score by requesting a copy of your credit report from one of the credit reporting companies, but best way to find out is by applying for some loans. If your score is low, lenders would offer you a higher APR. However, if your score is high, you can obtain a lower APR.
After checking your credit score, shop around for loan offers and try to determine which of these are applicable for you. Request for loan quotes from different lenders and make short list of the rates to avoid missing some rates that might be suitable to your financial situation.

Determine how much you can afford

After checking your credit score and knowing the rates of the loan offered, try to figure out how much you can afford. Compare this to the loan rates you included in the shortlist. Take note of the affordable ones try to ask about the usual APR tied to these loans. Through, this you would identify which of these has the lowest APR.

Choose the loan with the lowest APR

After knowing how much you can afford for a loan, choose the offer with the most affordable APR. Try asking if having a co-signer with better credit record would help reduce the interest rate of the loan.
After choosing the loan with the lowest APR, try to request for a calculation of the payments involved. By doing this, you would determine the amount of payments involved and you would be able to prepare for these payments every month until you are able to pay the entire loan balance off.

Useful tips in selecting the best auto loan rates

Selecting the best auto loan rates allows you to save money from car buying. You can use these savings for other expenses such as for maintenance and repair of the vehicle in the future. In addition to this, getting the best rates from a loan helps you pay the remaining loan balance off and gain full ownership of the car. However, you need to take some useful tips in selecting the best loan rates. This includes the following:

Tip Number 1: Know the effects of your credit record with the loan rates that you can avail

Knowing the relationship of your credit report with the car loan rates helps you select the best loan rates suited for your current credit status. You can request a copy of your credit report from one of the credit reporting agencies. Take note of the entries incorporated on the report. This would help you determine your credit worthiness.

Always bear in mind that a positive credit record allows you to obtain the best loan rates offered by lenders as well as the number of loan deals suited for you. A negative credit record on the other hand reduces the number of loan offers applicable to your credit situation.

Tip Number 2: Take note of the available loan terms

Besides looking upon the available loan rates you should also check the terms of the loan offered. You might get lower monthly premiums but you would eventually be paying more than what is necessary. Select a shorter loan term as much as possible. Although it involves higher monthly payments compared to long term loans, a short term loan allows you to pay the loan off early and provides you savings from paying too much on the loan

What’s My FICO Score?

In the process of obtaining any loan, the lenders are going to check your FICO Score.

How will this application impact my Credit Score?

There is alot of concern out there that by shopping around for the best price on car financing will hurt your credit. That is untrue. According to, “most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score.” The lenders know that you aren’t going to take all the car loans you apply for, and you shouldn’t be punished for doing your homework to find the best rate available for you. That should actually be considered a good thing. This time period for loan shopping and how it is considered 1 inquiry is typically 3o days.

Free Credit Score and Report

There are many places to get a credit report, but unfortunately, that only shows you your credit history. Lenders will definitely look at your credit report, but more importantly, they will want to know what your Credit Score is. Our partner is offering that valuable Free Credit Score you should be looking for, in addition to a self credit improvement feature.