Posts Tagged ‘auto loans’

How to secure No Money Down Auto Loans for People with Bad Credit?

As cars are becoming a necessity for us, the importance of auto loans is rising. When someone applies for a car loan, it’s obvious that he has no ready cash for buying the car. This means making a down payment also becomes difficult. The good news is that you can avoid money down by opting for no down payment car loans. This car financing program is perfect for everyone including people with bad credit.

Is it Possible to get No Money Down Auto Financing with Bad Credit?

Yes. You can easily get approved for no money down car loans for bad credit. All you need to do is ensure the lender of his financial investments. If he considers you a less risky credit borrower, instant approval and guaranteed low rates will be a reality for you.

How to get Guaranteed Approval on No Down Payment Auto Loans for Bad Credit?

These tips will help you get easy approval no down car loans. Bad credit will cease to be a problem when you follow these suggestions. Try and use the maximum of them to enjoy low rates and lower car loan cost.

Co-Signer

A co-signer lowers the risk factor. It is because the lender knows that he can recover his money if you stop making payments. So, start your search for a co-signer today.

Income Proof

Having sufficient income to pay-off car loan is one of the important criteria. You can show your pay-stubs or tax returns as income proof. This way lender will be sure of your regular income and also, regular payments.

Inexpensive Car

Choosing an inexpensive car means reducing your car loan amount. And with the reduction in loan amount, lender’s risk also reduces. This way your approval chances become brighter.

Trade-Ins and Rebates

You can avoid down payment by trading your old car. Ask the dealer to deduct the value of your old car from the car loan amount and forget putting money down. You can also make use of rebates for the same purpose.

Shorter Loan Term

If you opt for a shorter loan term, it means you will be able to pay-off the loan before the end of useful car life. This is perfect for everyone because the risk of upside down car loans reduces substantially.

Choosing the Lender

You certainly don’t want to waste your time in applying with lenders who won’t offer you loans. So, start your research for lenders who offer no down car financing programs to individuals with bad credit ratings.

You can make use of internet for searching sub-prime lenders. They work with bad credit borrowers and have no trouble in providing car loans without down payment.

You can select a reputed online car financing company for loans. They have a huge network of lenders and dealers which makes it easy for them to guarantee quick approval on no money down auto loans for bad credit. Don’t forget to check the reputation of the lender/auto financing company before filling the application form.

All these tips will definitely help you in securing no down payment auto loans. When you follow them, it will make your car loan application stronger and lenders will be compelled to look beyond your credit score. So, don’t forget them during the car financing process.

Rapidcarloans.net offers affordable auto loans for bad credit borrowers. People with bad credit score can enjoy no money down car loans by applying on the secure website. Apply now to enjoy low rates and 100% free car loan quotes.

Be the first to comment - What do you think?  Posted by badcreditcarloans - November 10, 2012 at 7:27 am

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Private Party Car Loans – Know Everything about Buying a Car from an Individual Seller

What’s that one dreadful thing when it comes to getting a car? Most Americans will answer “dealing with the dealer”. Yes, it is so true. We have heard stories about dubious dealers who have conned someone or the other in our social circle. But, we still walk down to the dealership lot half-hearted and full of doubts. You may not know but there is one more option of buying cars. Welcome to the world of private party (non–dealer) car purchase where you don’t have to worry about a fraudulent dealer and his deceitful methods.

Most people are unaware of this opportunity and think that private party sales are risky. Once you completely understand person to person car sale, you will know that the reality is absolutely different.

What Is A Private Party Auto Sale?

Where buyer meets the seller

When you buy or sell your car to an individual without the dealer in picture, it constitutes a private party sale. When you buy a car from an individual, you don’t have to haggle with a dealer. You can meet the seller in person and get all the information from the horse’s mouth.

What Are The Advantages Of Buying A Car From A Private Party?

1. As mentioned earlier, you get first-hand information from the seller. There is no dealer to fabricate the vehicle information.

2. No high pressure car-price negotiation.

3. No dealership commission means lesser price.

How to Make a Perfect Private Party Car Purchase?

Make sure it is no junk

When you buy a used car, you need to check it properly. You certainly don’t want to end up with a lemon or a clunker. Don’t go for a very old car because most State Lemon Laws don’t cover them. So, while buying a used car from private seller, follow these important guidelines -

1. Get the car’s VIN (Vehicle Identification Number) and run a Vehicle History Report. It will let you know if the car was ever salvaged or flooded. The report will be helpful in convincing your lender that the car is not junk.

2. You must also check the car’s title. Most of the times, it will have a lien on it. If the same is with your car, then ask the seller to arrange a meeting with his lender (seller’s lien holder). Discuss at length the conditions and the duration in which the title will be transferred to you. It is always good to talk this out in advance.

3. Get the Odometer Disclosure Statement from the seller. It will have the exact number of miles that the vehicle has been driven. Most lenders insist on getting one from the seller.

4. Ask your trusted mechanic to inspect the car.

How to Get a Private Party Car Loan?

A private party auto lender takes risk in offering auto financing options because there is no additional dealer’s warranty. Also, the vehicle is not a certified one. So, lenders want you to fulfill their criteria.

Here are the requirements of private party auto loans -

1. Your age should be at least 18 years old. If you are getting a joint loan, then at least one of the applicants should be 18.

2. A Valid SSN is mandatory.

3. Your gross monthly income should at least be $2,000. A recent pay stub or IT returns (if self-employed) can be used as a proof.

4. Your employment term at the current and the last job should be more than six months.

5. You must be staying for at least six months at your current residence. Utility bills and rent receipt can be used to prove the term.

6. No open bankruptcy.

7. The vehicle should not have been driven for more than 80,000 miles nor should be older than six years.

All these requirements are pretty standard for a car loan and nothing out of the blue. Private party car loans are easy to obtain. There are quick and simple because of no dealership is involved. With several lenders offering private party loan, it is easier to buy a car and fulfill your dream.

Be the first to comment - What do you think?  Posted by privatepartycarloans - April 9, 2012 at 9:48 am

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Tips for Getting an Affordable New Car Loan

There might be situations where you would not have adequate funds to buy your dream machine. There are auto loans available to every individual and this is a wise option to consider. So how do you repay your new auto loan? The lender might give you several ways to repay the loan amount in terms of monthly payments. I have tried to explain the concepts involved in amortization and the process through which you will get a new car loan with low monthly payments.

Introduction to new car loan:

On getting the car loan approval, the borrower is expected to start repaying the loan payments every month. The dates will be fixed before which the monthly payment amount should be paid for the new car loan that was taken. This amount will include both the principal and interest amount to be repaid. A variable payment plan will help the individual to pay higher amounts at his discretion.

Process to get new car loan with low monthly payments:

It is important to do the ground work in an efficient manner. The internet era has made the entire world a global village. Almost any information can be found online and the individual need not step out of the house in search of information. There are several websites giving plentiful information about the various lenders and their auto loan products. This kind of information will include

1. Auto loan features and their benefits

2. Various fees and charges applicable for the product

3. Customer reviews on these products

4. Comparison of similar products and features from various lenders

5. Amortization calculators to check how much you should repay

6. Apply online to obtain free quotes from multiple vendors

This gives a better hand to choose the best of products according to the individual requirements. The calculators are one of the best tools to find out the exact amount of money that you would require and to know how much you would spend on interests.

The next step is to apply by filling out online applications done at free of cost. The individuals will get a prompt response in less than 30 minutes of time. By this way, comparison of features and interest rates becomes very easy for the borrower and he will be in a better position to take a decision. Deciding upon the best product, it is now time to pick up the top 3 lenders and start the negotiation with them. Mostly the interest rates would be negotiable depending on the financial background. Negotiation becomes very easy if you have some amount of money as upfront payment.

Healthy credit scores will help you to grab the best of car financing available at lower interest rates where the borrower can finalize the deal. It is very important to be careful while doing the paperwork so as to reduce future risks.

Be the first to comment - What do you think?  Posted by Rock Watson - March 18, 2012 at 3:48 am

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No Money Down Auto Loans – A Reality For Sub-Prime Borrowers

Buying a car is an unpleasant experience when you are troubled by bad credit scores and huge down payment amounts. Make it pleasurable by availing no money down auto loans for bad credit borrowers. Yes, they are a reality. Here’s all that you need to know about the loan type.

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Be the first to comment - What do you think?  Posted by Alan Hendricks - March 16, 2012 at 7:02 am

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Buy Your Splendid New Car with New Auto Loans

Buying a car is fun when you know you have got the best car loan deal. Take a wise car loan decision by knowing every aspect of financing your dream car. Read to get a complete understanding of the many car financing options available with you.

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Be the first to comment - What do you think?  Posted by Alan Hendricks - March 12, 2012 at 1:05 pm

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Buying a Car from Your Neighbor is Easy with Private Party Auto Loans

A car’s basic purpose is to take you places. The lender shouldn’t mind if it is purchased from a dealer or a private party. Here’s your gold mine of information to help you get approved for private party auto loans. Get the best tips to buy your dream car.

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Be the first to comment - What do you think?  Posted by Alan Hendricks - February 24, 2012 at 11:24 am

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Auto Loan Tips to Help You Get Instant Approval

Are you finding it almost impossible to get the auto loan you are looking for? Are you disappointed because you do not have enough money? Are you simply baffled and confused and dread the idea of applying for auto loan? Look for guaranteed car loans which may actually solve your problem.

Though getting a loan may seem an uphill task, it may not be so difficult once you know the tricks to the trade. Try going with the flow and consider the following suggestions as tips.

Credit scores: Before you start thinking of taking out an auto loan, know your credit scores accurately. Try to seek help from credit bureaus or from professional if you are unable to understand the scores. Do not be ashamed if you have poor credit scores. Do not try to cover them up. Doing so may jeopardize your chance of getting the loan. Just face up the fact that you had made some wrong decisions and it is time to make amends.

Application: When you are making applications, it may involve many formalities and documentation work. Hence it is better to keep all your financial reports ready. You may feel it to be a lot of hassle. But do not lose your patience. Keep your calmness and go through the procedure one after the other. However, it is a lot easier if you try online application. Browse through Internet and you will come across a number of lenders willing to help you out. Go through their terms and conditions and then apply.

Security: Auto loans are also easy to get if you have additional collateral. Show the lender that you have asset to support which may be house, boat, farm, second car, etc. Even when you are bankrupt, you may have stable source of income and it will actually help your standing in front of the lenders.

Choice of a car: An auto loan may be one of the best ways to purchase the dream car. When you are making your choice, there are two major things that you have to look for. One the price of the car should be well within your payment capacity. And two the value of the car should not be depreciating more than your payment ability. These two are important because if you choose a car of very high price range, then you apply for a high amount of loan. For high amount of loan, the rates of interest charged will be high if you cannot pay substantial down payments. Then the monthly payments you will have to pay will be higher and may lead to defaults. And defaults will take your credit ratings further down. Again, if you choose a car whose wear and tear is more than your payments, then you are entering into a deal which may lead to upside down on car. It is so because by the time you pay off the loan, the car will be no more than the scrap value and then your loan amount exceeds your car value which creates a negative equity.

If you understand the importance of these factors in getting a car loan, it might not be that difficult for you to get that auto loan.

Be the first to comment - What do you think?  Posted by Rock Watson - February 21, 2012 at 12:52 pm

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How to Avail Bad Credit Auto Loans in the State of Washington?

We, Americans are all proud car lovers. Cars are a necessity for everyone and more so, if you are living in Washington. Travelling in the Evergreen State, a car is indispensable as there is very little public transportation outside the main cities. Also, it offers a well-maintained road network which means cars are the most convenient way to travel.

The only thing that causes a hurdle while buying a car is your bad credit score. If your bad credit score is troubling you, then this article is for you. There are several Americans dealing with bad credit scores and yet are able to get a reasonable auto loan.

Washingtonians! Even you can buy your dream car irrespective of your bad credit score. How do you do it? Here are few tips to help you avail a bad credit auto loan.

Think Practical

You must understand that you have a weak credit score and so it’s obvious that you will have to pay more than someone with a good credit score. You must keep this in mind so that you don’t feel dissatisfied in the end. Also, remember that choosing an expensive vehicle can unnecessarily increase your loan amount.

Decide on the exact loan amount. Also, know the amount of monthly payment that you can easily pay. For that, prepare your budget. Deduct all your expenses from your gross income and you will know the amount to spare for the loan payments. You can take help of the car loan calculators which are available online.

Nothing Is More Dangerous Than Ignorance

Yes, the words of Martin Luther King hold true even in the context of your car loan. If you are unaware of your credit score, the lender may cheat you and ask for a higher interest rate. Trust nobody but yourself and hence, get your credit score. There are several websites that help you get it.

Your credit score is determined on the basis of your report. The Federal Law allows you to check your credit report once a year and that too without any cost. You can go to annualcreditreport.com and get your free copy. Check for any errors. There are several cases where errors and identity theft have played havoc. If you find any discrepancy, report it to the credit bureaus.

Are You Ready?

To avail bad credit car loans, you must meet certain criteria. You will have to prepare your documents which will be needed by the lender. Here’s a list of all the papers:-

1. Proof of Income

You must be earning something between $ 1,000 – $ 2,000 per month.

If you are a salaried employee, send a copy of last two months’ pay stubs to the lender. If you are a self-employed or individual contractor, you will have to submit your IT returns.

2. Bank Statements

Bank statements are like your personal diary. One can know everything about your finances from them. Lenders want to know if their money is safe with you and hence, will ask for your bank details.

3. Your Residential Proof

Most lenders want you to stay for at least six months in your current residence. You will need a residence proof and anything from a phone or an electricity bill will serve your purpose. If you are paying rent, then a receipt from your landlord can also be used as a proof.

4. Vehicle Information

Your car details will be required by the lender. If you haven’t selected your car and are waiting for the loan approval, it’s okay. But, you must submit the details as soon as you decide on a car.

Purchase price, VIN, car’s year, make and model are essential. If you are buying a used car, don’t forget to get the odometer disclosure and make sure that the title is clean.

It’s Time You Look Around

There are several options for availing a bad credit auto loan. Nonetheless, you will have to search for that one lender who offers you a perfect deal. Banks and dealerships are an option. But, if you want to have more choice, internet is your answer. There are several online auto financing companies that can help you in getting a loan. Most companies have a nation-wide network and hence, it would offer you more alternatives.

Don’t fill the application form if the company charges you for it. There are many companies that offer free car loan quotes. Don’t forget to ascertain the website’s reliability. You can do so by verifying the security certificate. Once you are sure about everything, fill the form and get yourself approved.

So, remember your bad credit score can no longer cause you any pain. With this comprehensive bad credit auto loan guide, it can no longer be the reason of your rejection.

Get ready to enjoy the beautiful “Evergreen State” in your dream car. This is the time you forget all about your bad credit score and enjoy the rugged coastlines, mountains and deserts of Washington.

Get ready to drive your dream car with RapidCarLoans.net – Our bad credit auto loans Washington program is designed for all those who are suffering with a bad credit history. We offer loans at affordable interest rates. So, apply on our website and forget all your bad credit woes.

All the best in your search for that perfect auto loan.

Be the first to comment - What do you think?  Posted by carbuyingtipswa - at 6:27 am

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Treat Dealership Auto Financing as a Game – You Win if You Negotiate

Every business survives itself on profit!

Dealers are in for business. They are also trying to earn their bread like everyone else. So, don’t think that availing loans from them is a bad idea.

You might think that it is risky to buy a car from dealers. There are chances of buying a lemon or salvaged car. But, don’t worry about the quality of cars. Most of the cars are bought from wholesale auctions. So, often the cars are new and are driven for lesser distance. All you need is a little bit of caution to find that perfect car.

Dealers are not bankers. They have tie-ups with finance companies and banks and work for a commission. Also, few automobile manufacturers have their own finance companies. Dealers can also help you avail finance from such captive finance companies.

It is not mandatory for you to avail car loans from a dealer. This is just a service offered by dealers and you can reject it any time.

Generally, banks won’t even touch your application if it mentions bad credit score. But, dealers are quite liberal in that sense. They finance bad credit borrowers and those with past bankruptcy as well.

Before you go to a dealer, it is necessary to work out a budget. It will be beneficial if you also have a vague idea about the type of car you want to buy.

You should be prepared for a great deal of marketing. The salesman will want you to believe that he is offering the best deal and you will not get any deal better than this.

Once you reach the dealer’s lot, be alert. You must never tell the dealer how much you want to spend on monthly payments. Don’t tell him about the trade-in until you have negotiated the price. If you do so, he will deduct the trade-in car’s value before only. You will lose chance of any further bargain.

You must remember that everything is negotiable and you must negotiate your interest rate, loan term, conditions and rules, rebates, down payment, etc. Don’t forget to ask about pre-payment penalty. You shouldn’t sign until you’re satisfied about each and everything.

Be wary of add-ons. They might be absolutely unnecessary. All these add-ons won’t do anything other than increasing your auto loan amount.

Rust protection, undercoating, paint protection, etc. are already applied at the factory. So, you need not pay the dealer for all this. It is better if you do it on your own.

Don’t pay the “Dealer Prep” fee. This is charged just to take off the plastic and prep the car for you. You can do that on your own. This will save some $300 for you.

You also don’t need to buy expensive anti-theft system from the dealer. You can get it installed from a shop at a lesser price.

So, while availing dealership financing, you must be smart and not let the dealer increase the purchase price. Once you understand your needs, you will be able to say no to unwanted schemes and offers.

Dealers try to offer you everything under one roof. Take advantage of it. You are no longer required to visit several lenders. This is very large benefit compared to all the bargaining.

Don’t consider all this a hassle. Instead, consider it as a game. Take it as an opportunity to experience and explore something new. You will win if you save and the dealer will win if you don’t negotiate.

So, go out there and win the game. All the best!

RapidCarLoans.net is always available to help you with your easy car financing needs. Our huge network of dealers/lenders will not stop until you have a car of your own. Apply now to get rid of your financial woes.

Be the first to comment - What do you think?  Posted by Rock Watson - January 31, 2012 at 4:50 am

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How to Buy a Car Being a College Student?

Cars were just a mode of transportation. This was when they were considered nothing but plain-simple automobiles. Today, cars are loved and pampered and they definitely make bold statements.

For America…We are simply a nation of car lovers! From a toddler to the elderly, everyone is just passionate about cars. Car is a dream for many and it’s great when you get to achieve your dream at an early age.

But buying a car in college seems impossible, isn’t it? There are several reasons for it like lots of money, ridiculously high interest rates, deceiving dealers and lenders.

Well, the reality will be exactly opposite for you. Think it’s a gag? It’s time you reconsider buying a car because students now have the option of getting pre-owned as well new cars and that too at affordable interest rates.

How is that possible? The answer is a bit of awareness and some smart work. When you decide to buy your car and probably your first one, it is essential to have an idea of cars and lenders who will finance you. This article is an earnest attempt to help you with car buying. So, let’s start by solving the confusion of buying a new or a pre-owned car.

Old or New – What Do You Like?

Every car buyer has to answer this question. New or old is a major dilemma and is as old as the origin of car. It is essential that you study the pros and cons of every car before buying it.

The major plus point with a used car is its cost. If you have a tight budget, this is your best choice. If you get a manufacturer certified pre-owned car, then it’s like buying a new car at lower prices. As the manufacturer approves the car, you can stop worrying about shady dealers manipulating your purchase. You can buy luxury brands like Lexus and Mercedes with their CPO programs and feel relaxed about your decision.

If you love the smell of a new car, then you can go for a brand new sparkling car. A new car will definitely be low on maintenance and will be covered under manufacturer’s original warranty. If you decide to buy a new car, then there’s some great news for a student like you. Just like the pre-owned cars programs, manufacturers also offer incentives for buying a new car. Nissan offers Signature GRADUATE® for college students and those enrolled in graduate school. Even FORD offers incentives for students. When you buy a new car from FORD, you will receive $ 500. You will also get other current public incentives offered by FORD. All you need to have is the Proof of Student Eligibility.

How to Choose an Auto Lender?

When it comes to buying a car or for that matter any other thing, money is the pre-requisite. Everyone says that ready money is a faithful friend but you must keep in mind what Benjamin Franklin said, “Remember that credit is money.”

All you need to do is find a trustworthy lender. Now, the best and easiest way to get to lenders is the web. There are several online auto lending companies that offer student auto loans. Keep in mind to go for only those companies that offer no obligatory/free quotes.

If you select a company that has a single lender, it would be a disadvantage for you. Why? You will obviously apply on several websites which means there will be many checks on your credit report. It will lower your credit score unnecessarily. So, make sure you select a company that has a network of lenders.

How to Fill an Online Application Form?

Filling an online form is not difficult. The only problem is that you don’t have any one from the lender’s side to solve your doubts. You will have to solve all your queries by mailing the company.

To avoid wastage of time in mailing and waiting for the answer, here are few of the common things required by the lender.

Basic Information

You will have to give your basic information such as name, residential address, cell-phone number and e-mail address. There is one problem when it comes to contact information. Applicants generally give cell-phone numbers which are not working. So, it is essential that you give accurate numbers.

Other than that, you have to specify information regarding your loan. Mention the kind of loan you want. If you want to avail private party auto loans, choose the relevant option. Don’t forget to mention the application type – single or joint.

Social Security Number

The most basic requirement for applying online is having a Social Security Number. It will be required by the lender to run a credit check. It is essential that you choose a reputable online company because you just cannot give your SSN to any shady lender.

Employment and Income Details

Your part-time job can also help you get auto loans. Generally, lenders want you to have stable employment for at least one year.Now, don’t worry if you are employed for less than that. There are certain companies that provide loans even if you are employed for six months.

Lenders want you to be capable of making regular monthly payments. So, they do have a minimum income requirement. It is essential that you at least earn gross$ 1,000 per month.

Pay stubs can be used as a proof for showing your employment status.

Credit Score

Generally, students have a zero credit score. This often creates problem because most companies don’t have the option of zero credit in their forms. So while filling your form, you can choose average credit score. If your application gets accepted, you can then tell the lender’s representative about your situation.

Student Identity Proof

Most lenders don’t require college/ university details at the time of filling the application form. You are supposed to tell everything when the company representative calls you. The lender will require your Student Identity proof at the time of signing the contract.

So, this is how you can fill the application form. Once you fill it, the lending company will contact its group of lenders. They will bid for your application and then the lender with the best deal will call you.

So, don’t wait for anything now. Log in to your personal computers and get a real opportunity of driving your car.

All the Best!

Be the first to comment - What do you think?  Posted by Rock Watson - January 15, 2012 at 3:58 am

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