Car Loan Dealers
Saturday, June 30, 2007
Car Loan Dealers
Car Loan Debt Relief - Should I Refinance My Car?
By [http://ezinearticles.com/?expert=Mike_Singh] Mike Singh
Are you looking into buying a car? Or refinancing an existing car loan? This article is an excellent starting point of your research. Lets roll ...
You should begin by requesting your credit report and FICO score. These two in combination will give you an idea of how lenders view you. This helps answer the simple question 'Credit-worthy or not?'. The higher your creditworthiness, the better interest rate you will get on your loan.
Its best to request copies from all three major credit bureaus. This is because you never know which report is favored by a lender. Also, this will help iron out any inconsistencies in these reports early in the process.
1) Equifax: PO Box 740241, Atlanta, GA 30374; www.equifax.com
2) Experian: PO Box 2002, Allen TX 75013, www.experian.com
3) TransUnion: PO Box 2000, Chester, PA 19022; www.transunion.com
The next thing to do is figure out the numbers that make sense for your situation. There are times when a 0% loan is on offer by the dealer. This is enticing in comparison to a 5% interest rate or higher. Before you jump on the deal, take another look at the offer. You could be in a better financial position by capitalizing on a cash rebate instead.
This will be clearer with an example of your monthly payment calculation.
In the event that you get a 36-month loan at 4% with a $2000 rebate, your payments (monthly) will be $30 lower. You would also save a little ove $1100 over the cost of the 0% loan. Always run the numbers. If you are a little math-phobic that's okay. Use one of the many online loan calculators available.
Before you go car shopping, you should make arrangements for the financing. This approach has a number of advantages. This will help figure out your budget and how much the monthly payments you will have to make for a loan amount.
One point that people often overlook is that you have a advantage while negotiating the price with the dealer if you will get approved for the loan or not. Fairly often the dealer will take you up on the lower price if their financing offer is acceptable to you. As mentioned earlier, do the numbers before you go car shopping.
One tip regarding accepting dealer financing. If you think the offer is within your price range you can accept it. But nothing prevents you from refinancing the day after. There are costs associated with refinancing a loan. So, do take those into consideration when doing the math.
One added benefit of having researched financing options is advance is your increased ability in weeding out the bad deals. Sometimes you will get different offers on virtually identical cars at different dealerships. Since you have run through different numbers before you will be able to compare deals easily. Of course, do factor in the service you will receive post-purchase in your final buying decision.
Lastly, look at the advantages and disadvantages of leasing versus getting loan or even some other form of financing. For instance if you own your own place, a home equity loan or line of credit could give you access to cash at lower rates of interest.
In the beginning this may seem like a lot of work. But as you get more experience you will get more creative in your financing options being fully aware which ones save you the most money.
Tired of making payments and seeing the interests and penalties pile up? It doesn't have to be that way, check out ' [http://www.zero-debt.info/debt-relief-blog/] debt reduction service help' and ' [http://zero-debt.info/debt-relief-blog/miscellaneous-debt-relief/debt-handling-car-loans-do-your-homework/] car loan debt relief' to start liberating your self from debt today!
Article Source: [http://ezinearticles.com/?expert=Mike_Singh ] http://EzineArticles.com/?expert=Mike_Singh
[http://ezinearticles.com/?Car-Loan-Debt-Relief---Should-I-Refinance-My-Car?&id=517706 ] http://EzineArticles.com/?Car-Loan-Debt-Relief---Should-I-Refinance-My-Car?&id=517706
By [http://ezinearticles.com/?expert=Mike_Singh] Mike Singh
Are you looking into buying a car? Or refinancing an existing car loan? This article is an excellent starting point of your research. Lets roll ...
You should begin by requesting your credit report and FICO score. These two in combination will give you an idea of how lenders view you. This helps answer the simple question 'Credit-worthy or not?'. The higher your creditworthiness, the better interest rate you will get on your loan.
Its best to request copies from all three major credit bureaus. This is because you never know which report is favored by a lender. Also, this will help iron out any inconsistencies in these reports early in the process.
1) Equifax: PO Box 740241, Atlanta, GA 30374; www.equifax.com
2) Experian: PO Box 2002, Allen TX 75013, www.experian.com
3) TransUnion: PO Box 2000, Chester, PA 19022; www.transunion.com
The next thing to do is figure out the numbers that make sense for your situation. There are times when a 0% loan is on offer by the dealer. This is enticing in comparison to a 5% interest rate or higher. Before you jump on the deal, take another look at the offer. You could be in a better financial position by capitalizing on a cash rebate instead.
This will be clearer with an example of your monthly payment calculation.
In the event that you get a 36-month loan at 4% with a $2000 rebate, your payments (monthly) will be $30 lower. You would also save a little ove $1100 over the cost of the 0% loan. Always run the numbers. If you are a little math-phobic that's okay. Use one of the many online loan calculators available.
Before you go car shopping, you should make arrangements for the financing. This approach has a number of advantages. This will help figure out your budget and how much the monthly payments you will have to make for a loan amount.
One point that people often overlook is that you have a advantage while negotiating the price with the dealer if you will get approved for the loan or not. Fairly often the dealer will take you up on the lower price if their financing offer is acceptable to you. As mentioned earlier, do the numbers before you go car shopping.
One tip regarding accepting dealer financing. If you think the offer is within your price range you can accept it. But nothing prevents you from refinancing the day after. There are costs associated with refinancing a loan. So, do take those into consideration when doing the math.
One added benefit of having researched financing options is advance is your increased ability in weeding out the bad deals. Sometimes you will get different offers on virtually identical cars at different dealerships. Since you have run through different numbers before you will be able to compare deals easily. Of course, do factor in the service you will receive post-purchase in your final buying decision.
Lastly, look at the advantages and disadvantages of leasing versus getting loan or even some other form of financing. For instance if you own your own place, a home equity loan or line of credit could give you access to cash at lower rates of interest.
In the beginning this may seem like a lot of work. But as you get more experience you will get more creative in your financing options being fully aware which ones save you the most money.
Tired of making payments and seeing the interests and penalties pile up? It doesn't have to be that way, check out ' [http://www.zero-debt.info/debt-relief-blog/] debt reduction service help' and ' [http://zero-debt.info/debt-relief-blog/miscellaneous-debt-relief/debt-handling-car-loans-do-your-homework/] car loan debt relief' to start liberating your self from debt today!
Article Source: [http://ezinearticles.com/?expert=Mike_Singh ] http://EzineArticles.com/?expert=Mike_Singh
[http://ezinearticles.com/?Car-Loan-Debt-Relief---Should-I-Refinance-My-Car?&id=517706 ] http://EzineArticles.com/?Car-Loan-Debt-Relief---Should-I-Refinance-My-Car?&id=517706
Friday, June 29, 2007
Car Loan Dealers
Lease, Hire Purchase or Car Loan - The Choice is Yours
By [http://ezinearticles.com/?expert=V._Jain] V. Jain
There are so many things for which you need to spend a considerable amount of money. You need money to purchase a house. You need money to purchase household items such as consumer durables. Car is another item which requires a large expenditure. Your savings might not be enough to buy a car. In this case, you need to find other sources of finance. You can get a car on lease, hire purchase or loan.
Not all dealers offer cars on lease. You will have to search for car dealers who offer cars on lease. This is not the end of your search. After finding such dealers, you will have to choose a dealer who offers a car that you are looking for. You should not make a compromise on this issue. Once you get a car on lease, you will be having it for a considerable time. The benefit of a lease agreement is that you will not have to pay a big amount of money. All you need to do is to pay a small amount of lease rentals every month until a certain period. After the expiry of the tenure of the lease agreement, you will have to return the car to the dealer.
If you want to retain the car, you can go for hire purchase. Many dealers sell cars on hire purchase. Here also, you will pay monthly installments until you have paid the entire loan amount along with its interest. The amount of monthly installments in case of hire purchase is higher than the amount of lease rentals. Its advantage over a lease agreement is that you do not have to return the car.
Another mode of financing a car is to take out a [http://www.bad-credit-auto-loan.co.uk/bad_credit_car_loan.html] car loan. Car loans can be obtained from banks, financial institutions and private lenders. It is not a difficult thing to borrow money to purchase a car. Lenders will readily offer you a car loan if you could show your income proof. Even if you are unable to show your income proof, you can get a car loan secured against your property. It is easier to obtain a secured car loan than an unsecured car loan. The rates of interest on car loans are lower than the interest rates on hire purchase.
About the Author: The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting bad-credit-auto-loan as a finance specialist.
For more information please visit [http://www.bad-credit-auto-loan.co.uk] http://www.bad-credit-auto-loan.co.uk
Article Source: [http://ezinearticles.com/?expert=V._Jain ] http://EzineArticles.com/?expert=V._Jain
[http://ezinearticles.com/?Lease,-Hire-Purchase-or-Car-Loan---The-Choice-is-Yours&id=132930 ] http://EzineArticles.com/?Lease,-Hire-Purchase-or-Car-Loan---The-Choice-is-Yours&id=132930
By [http://ezinearticles.com/?expert=V._Jain] V. Jain
There are so many things for which you need to spend a considerable amount of money. You need money to purchase a house. You need money to purchase household items such as consumer durables. Car is another item which requires a large expenditure. Your savings might not be enough to buy a car. In this case, you need to find other sources of finance. You can get a car on lease, hire purchase or loan.
Not all dealers offer cars on lease. You will have to search for car dealers who offer cars on lease. This is not the end of your search. After finding such dealers, you will have to choose a dealer who offers a car that you are looking for. You should not make a compromise on this issue. Once you get a car on lease, you will be having it for a considerable time. The benefit of a lease agreement is that you will not have to pay a big amount of money. All you need to do is to pay a small amount of lease rentals every month until a certain period. After the expiry of the tenure of the lease agreement, you will have to return the car to the dealer.
If you want to retain the car, you can go for hire purchase. Many dealers sell cars on hire purchase. Here also, you will pay monthly installments until you have paid the entire loan amount along with its interest. The amount of monthly installments in case of hire purchase is higher than the amount of lease rentals. Its advantage over a lease agreement is that you do not have to return the car.
Another mode of financing a car is to take out a [http://www.bad-credit-auto-loan.co.uk/bad_credit_car_loan.html] car loan. Car loans can be obtained from banks, financial institutions and private lenders. It is not a difficult thing to borrow money to purchase a car. Lenders will readily offer you a car loan if you could show your income proof. Even if you are unable to show your income proof, you can get a car loan secured against your property. It is easier to obtain a secured car loan than an unsecured car loan. The rates of interest on car loans are lower than the interest rates on hire purchase.
About the Author: The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting bad-credit-auto-loan as a finance specialist.
For more information please visit [http://www.bad-credit-auto-loan.co.uk] http://www.bad-credit-auto-loan.co.uk
Article Source: [http://ezinearticles.com/?expert=V._Jain ] http://EzineArticles.com/?expert=V._Jain
[http://ezinearticles.com/?Lease,-Hire-Purchase-or-Car-Loan---The-Choice-is-Yours&id=132930 ] http://EzineArticles.com/?Lease,-Hire-Purchase-or-Car-Loan---The-Choice-is-Yours&id=132930
Thursday, June 28, 2007
Car Loan Dealers
Researching the Best New Car Loan Interest Rate
By [http://ezinearticles.com/?expert=Carrie_Reeder] Carrie Reeder
You don’t need to accept the loan interest rate the car dealer offers you.
This may come as a bit of a shock to some car buyers who have begrudgingly
accepted a less than desirable rate because they didn’t think there was an
alternative. By doing a bit of research into current loan rates before
purchasing a new car, a person can save lots of cash in the long run.
Secure Financing First
It’s a good idea to secure financing for a new car before even picking out the
car. This can be done through a bank or credit union, and it takes a lot of the
pressure off the car-buying process. Many times a dealer may actually be able to
beat the interest rate, and that makes for a win-win situation because you
ultimately wind up with the best rate possible.
Become Familiar with Current Interest Rates
Make sure to check out one of the many websites available that follow and
forecast interest rates. It’s good to know what the interest rate trends are for
new car loans before applying; this way there is no surprise if rates are much
higher than you thought. After all, interest rates are constantly changing. Just
because your last car loan was at 3.9%, it doesn’t mean you’ll be able to find a
deal like that on future loans.
Compare Rates Online
Some websites act as loan brokers in the sense that they will take all the
necessary information and disseminate it to several lending institutions in
order to secure the best rate possible. Sometimes the best route to go is
through your own bank. If they have the lowest rates you can find, then there is
no reason to go through all the hassle of applying to many different lenders.
Researching the best new car loan interest rate is really worth it, and can save
quite a bit of money if done right.
To see a list of recommended lenders for a
[http://www.abcloanguide.com/autoloans.shtml] new car loan lowest
interest rate, or for a
[http://www.abcloanguide.com/freecreditreport.shtml] bad credit new car
loan, visit ABC Loan Guide.
Article Source: [http://ezinearticles.com/?expert=Carrie_Reeder ] http://EzineArticles.com/?expert=Carrie_Reeder
[http://ezinearticles.com/?Researching-the-Best-New-Car-Loan-Interest-Rate&id=205723 ] http://EzineArticles.com/?Researching-the-Best-New-Car-Loan-Interest-Rate&id=205723
By [http://ezinearticles.com/?expert=Carrie_Reeder] Carrie Reeder
You don’t need to accept the loan interest rate the car dealer offers you.
This may come as a bit of a shock to some car buyers who have begrudgingly
accepted a less than desirable rate because they didn’t think there was an
alternative. By doing a bit of research into current loan rates before
purchasing a new car, a person can save lots of cash in the long run.
Secure Financing First
It’s a good idea to secure financing for a new car before even picking out the
car. This can be done through a bank or credit union, and it takes a lot of the
pressure off the car-buying process. Many times a dealer may actually be able to
beat the interest rate, and that makes for a win-win situation because you
ultimately wind up with the best rate possible.
Become Familiar with Current Interest Rates
Make sure to check out one of the many websites available that follow and
forecast interest rates. It’s good to know what the interest rate trends are for
new car loans before applying; this way there is no surprise if rates are much
higher than you thought. After all, interest rates are constantly changing. Just
because your last car loan was at 3.9%, it doesn’t mean you’ll be able to find a
deal like that on future loans.
Compare Rates Online
Some websites act as loan brokers in the sense that they will take all the
necessary information and disseminate it to several lending institutions in
order to secure the best rate possible. Sometimes the best route to go is
through your own bank. If they have the lowest rates you can find, then there is
no reason to go through all the hassle of applying to many different lenders.
Researching the best new car loan interest rate is really worth it, and can save
quite a bit of money if done right.
To see a list of recommended lenders for a
[http://www.abcloanguide.com/autoloans.shtml] new car loan lowest
interest rate, or for a
[http://www.abcloanguide.com/freecreditreport.shtml] bad credit new car
loan, visit ABC Loan Guide.
Article Source: [http://ezinearticles.com/?expert=Carrie_Reeder ] http://EzineArticles.com/?expert=Carrie_Reeder
[http://ezinearticles.com/?Researching-the-Best-New-Car-Loan-Interest-Rate&id=205723 ] http://EzineArticles.com/?Researching-the-Best-New-Car-Loan-Interest-Rate&id=205723
Wednesday, June 27, 2007
Car Loan Dealers
How To Save Money On Your Car Loan
By [http://ezinearticles.com/?expert=Joseph_Kenny] Joseph Kenny
Buying a car often means that there is a lot of paperwork. In fact, sometimes it seems that all the paperwork is designed just to confuse the buyer and take away a lot of the savings that were negotiated. The truth is this may actually be the case with some lenders - especially car dealers who also finance. There may be a way around it, though, and here are a few tips to help you avoid the confusion.
If you want to save some money at the car lot, then it would be a real good idea to start by looking at your own credit report. The lender, any lender, will give you an interest rate and a limit on how much you can borrow according to the information found in your credit report. You can get one free each year online. Look it over carefully and make sure that there are not any errors on it. Notice that it also shows your overall indebtedness. If you owe too much, then this will mean you will not be able to borrow very much.
You will then want to go online and see what kind of a car loan you can get. Go after a preapproved car loan. This will let you know exactly how much money you can borrow and it will show you what kind of car you should look - the price range. Get several quotes online and then compare them carefully to know which one is the better deal. It will take a little time, but it will enable you to save some money.
A preapproved car loan means that you are already given the money for your car. Once you accept a lender's terms, they will send you a blank check, with a specified credit limit. You can buy whatever kind of car you want within the specified cost range. Receiving the blank check does not mean that you are obligated to the loan, either - only signing it and using will do that. You will be limited to a number of days to use the check, though, and this will probably be between 30 to 60 days.
After you have found the car you are interested in, go online and do a little searching for the value of that car. Also, see what kind of deals there might be on the Web. This will give you a real good idea as to what kind of price that dealer is actually offering you. Obviously, if it is much higher than other dealers, you will want to go somewhere else to buy your car.
When you are talking with the salesman and other staff at the car dealer’s, be sure to negotiate for some better terms. Since you are coming to them with a check in your hand, this will give you a better position for negotiations. They are interested in the cash and don't want to see you walk out with the check in your hand. That check actually gives you greater leverage with them - so be sure to use it to your advantage.
Other tips for saving money on your car loan include paying as large of a down payment as possible. The more cash you put down - the smaller the size of the loan and the less it will cost you in the long run. Another way is to make sure that you are actually getting the proper trade-in value for your old car.
Joe Kenny writes for the Loans Store, offering [http://www.ukpersonalloanstore.co.uk/car_loans_doc.html] car finance, or read the article, [http://www.ukpersonalloanstore.co.uk/articles/vehicle_financing_understand.html] Understanding Car Finance
Visit today: [http://www.ukpersonalloanstore.co.uk/] UK Personal Loans Store
Article Source: [http://ezinearticles.com/?expert=Joseph_Kenny ] http://EzineArticles.com/?expert=Joseph_Kenny
[http://ezinearticles.com/?How-To-Save-Money-On-Your-Car-Loan&id=563982 ] http://EzineArticles.com/?How-To-Save-Money-On-Your-Car-Loan&id=563982
By [http://ezinearticles.com/?expert=Joseph_Kenny] Joseph Kenny
Buying a car often means that there is a lot of paperwork. In fact, sometimes it seems that all the paperwork is designed just to confuse the buyer and take away a lot of the savings that were negotiated. The truth is this may actually be the case with some lenders - especially car dealers who also finance. There may be a way around it, though, and here are a few tips to help you avoid the confusion.
If you want to save some money at the car lot, then it would be a real good idea to start by looking at your own credit report. The lender, any lender, will give you an interest rate and a limit on how much you can borrow according to the information found in your credit report. You can get one free each year online. Look it over carefully and make sure that there are not any errors on it. Notice that it also shows your overall indebtedness. If you owe too much, then this will mean you will not be able to borrow very much.
You will then want to go online and see what kind of a car loan you can get. Go after a preapproved car loan. This will let you know exactly how much money you can borrow and it will show you what kind of car you should look - the price range. Get several quotes online and then compare them carefully to know which one is the better deal. It will take a little time, but it will enable you to save some money.
A preapproved car loan means that you are already given the money for your car. Once you accept a lender's terms, they will send you a blank check, with a specified credit limit. You can buy whatever kind of car you want within the specified cost range. Receiving the blank check does not mean that you are obligated to the loan, either - only signing it and using will do that. You will be limited to a number of days to use the check, though, and this will probably be between 30 to 60 days.
After you have found the car you are interested in, go online and do a little searching for the value of that car. Also, see what kind of deals there might be on the Web. This will give you a real good idea as to what kind of price that dealer is actually offering you. Obviously, if it is much higher than other dealers, you will want to go somewhere else to buy your car.
When you are talking with the salesman and other staff at the car dealer’s, be sure to negotiate for some better terms. Since you are coming to them with a check in your hand, this will give you a better position for negotiations. They are interested in the cash and don't want to see you walk out with the check in your hand. That check actually gives you greater leverage with them - so be sure to use it to your advantage.
Other tips for saving money on your car loan include paying as large of a down payment as possible. The more cash you put down - the smaller the size of the loan and the less it will cost you in the long run. Another way is to make sure that you are actually getting the proper trade-in value for your old car.
Joe Kenny writes for the Loans Store, offering [http://www.ukpersonalloanstore.co.uk/car_loans_doc.html] car finance, or read the article, [http://www.ukpersonalloanstore.co.uk/articles/vehicle_financing_understand.html] Understanding Car Finance
Visit today: [http://www.ukpersonalloanstore.co.uk/] UK Personal Loans Store
Article Source: [http://ezinearticles.com/?expert=Joseph_Kenny ] http://EzineArticles.com/?expert=Joseph_Kenny
[http://ezinearticles.com/?How-To-Save-Money-On-Your-Car-Loan&id=563982 ] http://EzineArticles.com/?How-To-Save-Money-On-Your-Car-Loan&id=563982
