Posts Tagged ‘automobile lenders’

Forget Rejection, Bad Credit Auto Loans Are Here To Fulfill Your Car Dream

Bleak economic indicators, depressing hiring numbers, dreary spending and miserable condition of monthly payments are all consequences of the 2009 recession. Well, the recession has created havoc in everyone’s life and everyday is a battle for Americans.

But, Californians have always been famous for hard-work and “never say never” attitude. It is the dedication of Californians that make it the largest economy of the world’s most powerful country.

Knowing the attitude of Californians, several lenders have trust in you. You may think that buying a car is difficult in this economy. But, the case is not so. There are ample opportunities with you to buy your dream car. The option of bad credit auto loan is one of them. This loan type is useful for those who are suffering from a poor credit score.

There are many confused souls who do not understand bad credit score. Well, let’s make it simple for everyone.

Bad credit is nothing but your credit score gone awry. A credit score basically means numerical representation of your credit worthiness. The most commonly used score model is FICO score. TransUnion, Equifax and Experian are three of the largest U.S repositories. They handle your credit scores.

Every credit bureau has separate criteria for calculating your credit score. This is the reason a same individual has different credit scores at the same time.

Generally, a score above 700 is considered excellent. If your credit score is below 500, it is usually a bad credit score. But, this doesn’t mean the doors of opportunity are closed on you. Lenders have their own criteria. Your credit score may be bad for someone and average for another lender.

So, the bottom-line is that you shouldn’t stop searching. Remember a quitter never wins. Explore as many options as possible. All you need to do is search for lenders who offer affordable California auto loans for bad credit. You can seek help from your local lenders or widen your search with the help of internet. Internet allows you to complete your loan process in a quick span.

When you search online, make sure you choose a secured website for filling the application form. A valid security certificate means the site is safe from phishing. So, check the security of the site.

The Down Payment

There are several things that can affect your auto loan. How much amount you put in as down payment is also important. Down payment is the initial upfront amount that you pay while making a purchase. You can increase your loan approval chances by making a huge down payment. This will reduce the lender’s risk and will also ensure him of your financial capability.

The Co-Signer Rule

This is another way of raising the probability of approval. If you ask someone to co-sign your auto loan, the lender’s risk gets divided. If you have a co-signer, he guarantees the repayment of your loan. So, search for someone who trusts you and is ready to co-sign your loan agreement.

What Documents Are Required For Your Bad Credit Auto Loan?

Proof of Income

If you are a salaried employee, then it is important that you send a copy of last two months’ pay stubs.

For self-employed or individual contractor, pay checks are out of question. Hence, it is necessary that you submit your IT returns of at least three years. It will include:-

>> Form 1040 (U.S. Individual Income Tax Return)

>> Schedule C (Profit or Loss from Business)

>> Schedule SE (Self-Employment Tax)

Bank Statements

Regular bank statements are a proof of your stable economic condition. Lenders want to ensure that their money is going into right hands and hence would be interested in understanding your personal accounts.

Your Residential Proof

A copy of your recent Mortgage Statement Utility Bill like phone or electricity is enough for lenders.

Vehicle information

You will also need to submit details of your car. A new car will require information like the purchase price, VIN, car’s year, make and model.If it’s a pre-owned car, you will have to additionally give information about the car’s mileage, title and also provide a disclosure of any liens, if any.

Now, California is widely known for its car culture. Auto lenders have understood the importance of car in the Golden state and so, they are offering affordable loans. After understanding the easy availability of bad credit auto loans in California, the only thing left for you is to apply.

So, apply now and get ready to enjoy the beautiful scenic vistas of California in your car. Don’t forget to drive on the Golden Gate Bridge and enjoy the panoramic view of the San Francisco Bay.

Avail bad credit car loans California from RapidCarLoans.Net and drive your dream in style. We believe that your bad credit score is no reason to deny you an affordable auto financing option. So, apply now and achieve your car dream.

Be the first to comment - What do you think?  Posted by californiacarloans - December 16, 2013 at 10:17 am

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Quick and Easy Guide to Help You Get Car Loans for Bad Credit in Colorado

For every American, cars are a necessity and the same applies to the residents of Colorado. Cars are a must to commute everyday to work and also for enjoying the beauty of the Centennial State. If bad credit score is keeping you away from buying a car, bad credit auto loans are your answer. Read the article to know more.


Be the first to comment - What do you think?  Posted by coloradocarloans - April 12, 2012 at 6:51 am

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Dealership Financing Can Benefit Bad Credit Borrowers in Getting A Car Loan

A poor credit score can ruin car dreams. There are many people who are suffering because of their past financial mistakes. But, all this won’t pose any problem because you can get auto financing options from car dealers. Know how dealership financing is good for bad credit borrowers.


Be the first to comment - What do you think?  Posted by Alan Hendricks - March 20, 2012 at 11:22 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.


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

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Do not Be an Impulsive Car Buyer – Take a Well-Informed Decision with Car Loan Tips

There is nothing worse than getting your car loan on impulse. When it comes to auto financing, Americans take hasty decisions. But, you can take an educated decision by taking help of these essential auto loan tips. This article will provide all the information for choosing a perfect car loan for your perfect car.


Be the first to comment - What do you think?  Posted by Alan Hendricks - February 4, 2012 at 9:40 am

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How Does A Pre Approved Auto Loan Work?

Is it high time to replace your old car? Have you planned to buy your dream car with the help of an auto loan? It is highly recommended to search for pre-approved loans from the financial institutions. There are umpteen numbers of auto loan lenders offering competitive interest rates in the market. There are lots of advantages in obtaining these kinds of loans. These loans will give you better negotiating powers with the dealers. You might be entitled to many of the featured and exclusive programs offered by the dealers by holding a pre approved car loan.

Pre approved auto loan applications are streamlined and the borrowers can save energy and time by applying online being at home. Most of the lenders have their internet presence and information can be obtained from these sites. The applications are short and will require fewer details.

How does it work?

What do you mean by pre-approved auto loan? The customer will be filling out applications to see whether he/she meets the basic eligibility criteria to obtain the loan. It indicates the customer is not applying for a specific type of loan at a specific interest rate. The duration of the loan period is not fixed and even the amount of loan is not fixed. If the customer meets the eligibility criteria, the loan would be approved to move forward with the application. The next phase would demand the customer to choose the type of car loan heshe desires to obtain.

The lending institution might come up with projected results as the customer is approved for $9,000 loan at a slightly different interest rate. It is up to the customer to check for the standard interest rates in the market and then continue with the procedure. It is always recommended to have good amount of financial knowledge before approaching these lenders. A thorough analysis of the competitive market rates will help the customers to get better interest rates and save money in the long run.

Sometimes, the loan amount approved might not take care of all the expenses and the customers can go ahead and apply a different kind of automobile financing. For customers with healthy financial background, all seems to be working and their cases will not be neglected under any circumstances. There are several ways to obtain pre-approved auto loans in today’s scenario. With the advent of technology, the internet is flooded with websites and people can take information by making a Google search on the lenders.

Pre approved auto loans will work like magic when you intend to buy the dream car. The borrowers can negotiate with the dealers and ask for more rebates and discounts having a pre-approved auto loan. Do not waste time and start hooking for information right now!

Be the first to comment - What do you think?  Posted by ezcarfinance - November 28, 2011 at 4:04 am

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Auto Loan Refinancing – Benefits and Requirements

Refinancing your car loans is a good option to escape from the ill effects of economic recession and low paying jobs. It is easier to obtain such loans even if your credit score is in bad shape. Finding an auto loan lender offering refinancing loans is not a difficult process. There are certain criteria to be met in order to be an eligible candidate to apply such refinance a car loan.


It is important to meet the following requirements.

1- The value of the car must be greater than the loan amount that is applied for.

2- The car must not be greater than 5 years old.

3- The amount owed on the car must be a minimum of $7500. However, certain lenders will have varying amounts when it comes to this aspect.

Benefits of Refinancing:

If you had bought your car with bad credit rates, the credit score must have improved to a greater extent over a considerable period of time. This will have a positive impact on your credit rating. You are now eligible to refinance your car loan with low rates. You have all the rights to negotiate with the lender to reduce the interest rate. This will help you to save hundreds of dollars in the long run. You will be able to save money which can be spent for other expenditure.

What is the Process?

The first step is to take the help of internet in finding the lenders offering car loans at lower interest rates. Get the applications filled and get a quote from them. There are lots of lenders who are ready to do business with you thanks to down turn in the economy. Lenders desperately need their business to carry on. You need to give out basic information such as make and model of the car, your salary details and employment details. You must be a citizen of US and must be above 18 years of age. You have to fill out the VIN details of the automobile.

The most difficult and easy part is in selecting the right kind of vendor. You must choose the lender according to your financial requirements. The best lender can be picked up after a thorough research in the internet.

On selecting the lender, try to have direct contact with the car lenders and arrange for a meeting. Negotiate the terms and conditions so as to gain maximum benefits in the long run. Factors such as high mileage or older model will have a negative impact. You need to be careful in picking up the right deal. Make sure the vehicle shows less than 70,000 miles. Make sure you know every inch of detail about the vehicle restrictions offered by the lender.

The process is quite simple if you are thoroughly educated on this subject. Do your research works properly before approaching a lender. You can start saving money in this way by refinancing your car loan.

Be the first to comment - What do you think?  Posted by carloanrefinancing - October 25, 2011 at 4:39 am

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Know What Second Chance Auto Loans Are

Some individuals have less than perfect credit score. For them, there are loans which give them a second chance to secure a car loan. These are the second chance auto loans. This is a prospect to rebuild your reputation in the “credit world.” It is difficult to get second chance auto loans for most of the people and they need to be totally aware of their financial conditions to get it approved.

There are pros and cons to everything. There is no exception to this rule when it comes to auto loans also. Although you will be given the money to purchase the car of your choice, you need to be aware of some fine prints. Second chance auto loans are normally approved to individuals with a bad credit history. Therefore, a high credit risk shall be considered in your case if you are applying. A few conditions such as a ‘higher than average interest rate’ also come along with it. Some loans you apply for may seem easy. But in such a case, you have to keep in mind the time in which you will be repaying it. Some companies do not allow much time for repayment. This means that less your payback time, more will be your monthly payment amount. So, keeping that in mind, you are required to do your homework first. Before you apply for loans, just take out some time to chalk out how much you would like to spend. You must also bear in mind, how much you can afford to spend on a car payment every month.

When second chance automobile loans are concerned, online resources are very useful for individuals with a bad credit. Bad credit auto loan lenders are pretty experienced with it concerns helping individuals with bad credit. In some cases, these loans are rather easy to obtain. When searching online for such a loan, make sure you choose a company that connects you with several lenders where each of them would try to give you the best deals. This gives you great advantage as a customer since you can choose the lender you want to work with rather than spending time shopping around.

Tips To Get Your Approval:

The most important thing is to watch out for the repayment terms. The redemption fees play a vital role here. The key point is to avoid excessive redemption fees so as to minimize the loss. It is recommended to avoid very short term loans as they will give you very high monthly payments.

If your credit score is bad, there is a possibility of lenders charging exorbitant interest rates on the second chance auto financing. If you have declared bankruptcy in the past, you will face this.

Several financial institutions will do a perfect background check in the preliminary phases when you apply for a car loan. This does not guarantee that the loan will be approved. Hence, it is always better and recommended to avoid such lenders those who charge fee during the preliminary process.

Be the first to comment - What do you think?  Posted by Auto Car Loan Financing Online - September 26, 2011 at 8:18 am

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Post Bankruptcy Auto Loan – FAQs

Obtaining bankruptcy auto loans is a lot easier now. Many individuals use auto loans to begin rebuilding their score and you can do it too. By searching for automobile loans online you can receive multiple offers from multiple lenders all within a minute or even less.

If you have filed for bankruptcy but have been discharged, many lenders and car dealerships might not welcome you warmly. But the good news is there are several lenders who are willing to overlook this problem. They are ready to give you a second chance to start all over again. If you can afford to make consistent monthly payments, you can be approved of post bankruptcy auto financing.

The following questions might strike you after you are bankrupt and yet wish to buy a car:

Will an auto loan be approved after filing bankruptcy?

Yes, these auto loans are actually quite common. It has helped several individuals to get a car for themselves at the time of their need. You can apply for car loans even after bankruptcy. Since every online auto lender and every situation is different, you might or might not need a co-signer. As far as loan rates are concerned, the interest varies according to the lender.

What is the need for bankruptcy car loans?

Auto loans are a great way to rebuild your credit score after bankruptcy. Since bankruptcy is a high-credit risk, the interest rates are likely to be higher than the normal rates. This must not bother you much as your main focus should be on rebuilding your credit score.

How long to wait before getting a loan?

Depending on the situation, the amount of time you’ll need to wait before applying for a loan varies by lender. Financing a car after you have filed bankruptcy isn’t as difficult as it may seem. Depending on the where you go for financing your car, there are few places where you’ve got to wait until your bankruptcy has been completely discharged. Few lenders and finance companies also work to help individuals get auto loans while their bankruptcies are still open.

Auto financing post bankruptcy

If you decide that auto loans after bankruptcy are the best for you, then you can go the long route. You can go around to several dealerships and find out from them if they have special financing. From this you can get a fair idea what their car loan rates are. However, there are several financing companies which provide you with an online quote. This helps you to find out whether your loan has been approved or not. The whole process takes less than a minute.

What to do next?

There are legitimate lenders on the internet who will offer you numerous auto loans to compare. You will find several offers with different rates that will fit your individual budget. From the comfort of your home, you can find for yourself the best car loan and begin to build your financial history once again. Reasonable financing with practical terms is only a single click away.

Be the first to comment - What do you think?  Posted by ezautofinance - April 22, 2011 at 11:06 am

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