Posts Tagged ‘buying a new car’

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 Brand New Car in California-A SMART Decision

When you live here, you get a little bit of everything. Beautiful weather, sandy beaches, almost 52 weeks of golden sunny days- the State of California is truly the Golden State. It is a beautiful place to live. Californians believe in living life to the fullest and this belief holds true even while buying a car. In 2010 alone, there were a staggering 1.17 million new vehicle registrations.

Buying a car is an investment and a very strenuous process. It can be exhilarating and worthwhile only when you find a perfect car at affordable rates.

When you are buying a car, you can either go for an old classic or a contemporary model. But buying “fresh off the lot” is a personal aspiration for many. It is like a status symbol. If someone buys a new car, he is considered to have “made it” in the big land of Uncle Sam.

Latest engineering, chic style, fuel efficiency, and innovation will be offered by a new car. It will also have superior safety devices. And to top it all, who doesn’t enjoy the new car smell? Isn’t it thrilling to own a car that is truly yours, one that’s never been driven by anyone else?

The best thing about a new car is that it gives you peace of mind. You need not worry about the car’s history and doubt whether the car was salvaged or not.

Most dealers will offer you attractive incentives for buying a new car. It can be anything from a cash rebate to 0% financing. Manufacturers are also offering strong incentives on new car sales.

It is easier to buy a new car than ever. So when you can afford the Real Mc Coy, why go for a pre-owned washout?

An overwhelming number of cars are launched in California every year. 2012 Toyota Camry was launched on August 23, 2011. Even Ford is set to launch its all electric car-Focus in California next year. You will soon be seeing the Italian beauty back on roads as Fiat is re-entering the U.S. market after a 27 year hiatus.

All this is quite intimidating. You have quite a lot of cars to choose from. So, it becomes essential to research.

There are several options to search for a car. Most dealers give their ads in local dailies and TV channels. Ask for opinions from your friends and family. Californians are passionate about their cars so taking opinions from them will definitely refine your perspective.

Also make use of the internet. There are multiple sites that offer new cars for sale and others who provide a detailed review. You can also get an idea about the safety of a car by comprehending several articles and safety reports about the particular model. Insurance Institute for Highway Safety (IIHS) is popular for providing this sort of information.

Understanding the importance of internet, car dealers have started their own “Internet Division”. This means you can communicate with the dealer’s Internet Administrator via e-mail, fax or phone.

“Tomorrow belongs to people who prepare for it today.”

It is essential that you consider the re-sale value of the car. Every car loses its value the second you drive off the lot. There are only few cars that have a high re-selling value. Make sure that the car you choose also has the same virtue. Refer Kelley Blue Book website for a reliable re-sale value.

“Seeing is believing.”

So, go to the near-by dealers and explore various car options. Don’t buy the first car you like at the very first dealer. Comprehend everything and then go for the kill.

It’s great to have that Eureka moment while buying a car. When you know that you have found your perfect car, negotiate the price. The “sticker price” is always higher than the actual worth because every dealer knows that the buyer will negotiate.

The other aspect of buying a car is FINANCE. With interest rates lowering to almost 3% for new auto loans, new cars are a reality.

Before you go for an auto loan, you will have to decide on few other things.

Buying a car is not a one-time expense. You should think of its cost as the total cash outflow over its useful life. You will have to pay for Title registration, insurance, taxes, maintenance, etc. So, do not spend all on the price of the car and do save for the future.

Figure out how much down payment you can afford. Make use of the online car loan calculators to calculate your monthly payment.

You obviously need a robust credit score for availing car loans at lower interest rates. But, you can improve your chances by going for a trade-in.

Owing to the 2009 “cash for clunkers” program, more than 600,000 used cars were taken off the market. And with the economic downturn, the sale of new cars has also reduced. This means that the demand for used cars is increasing and on the other hand its supply is constantly declining. The result is a steady decline in the price difference between the new and used cars. You can take advantage of this situation and trade-in your used car for a higher price.

A higher price means you need new car loan for a lower amount. This will automatically translate into lower interest rates.

When you avail an auto loan, you can go for traditional options like the car dealers or banks and other financial institutions.

But the best way is to use the internet. Your work will be done PDQ. When you have the entire world at the click of mouse, why choose other options? You can visit websites of several companies and get quotes from them. Don’t worry if you have a less than perfect credit score. There are companies which specifically deal with bad credit score.

A tremendous effort was put in by you to reach the position where you are now. You are not only capable of buying a new car, but you also deserve one. So, buy a brand new car and paint the town red.

When you have struck gold in California, why not enjoy it?

We, at Rapid Car Loans offer you hassle free auto financing in California. We have a nationwide network of lenders who will provide you car financing at the most affordable rates. All you need to do is fill in the simple application form.

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Be the first to comment - What do you think?  Posted by californiacarloans - December 3, 2011 at 4:24 am

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Facts to Remember About New Car Auto Loan

Are you considering buying a new car? Wondering about the various things you have to undergo to finance your car purchase? Do not be so alarmed because a new auto loan is just the thing you are looking for. There are manufacturers, dealers, banks, financial institutions, credit unions, and private lenders to name a few. They are all ready to finance the automobile financing you are keen to get. Whenever you are opting for any of the above mentioned options for a car loan, keep in mind some of the aspects related to loan. Some of these are being discussed below to help your understanding.

Credit score: You should have a clear idea of your credit score before you even attempt to get a loan. Credit score acts as a vital factor in getting car loan approval. If you have ignored the financial statements for long, now is the time to take a careful look at it. You should know where your credit ratings stand. However, if you are a first timer, you will have no credit scores to produce. Whereas, if you have very good credit scores, it will be easy for you to get the loan required for your luxury car. But if you have poor credit scores or no credit scores, you might have to pay more. As, the rate of interests and down payment asked for is high as you are considered more risky than others.

Affordability: Before you apply for the new car auto financing, check your financial condition. It is essential to know how much you can afford to pay on a monthly basis without turning broke. If you take a loan more than your paying capacity, you will end up in defaults. Your financial strength will weaken and your credit rating will take a nosedive. So the general idea is your income should be enough to cover all your expenses and afford a little saving for contingencies.

Terms and Conditions: When you are talking to the dealer or the lender about the loan, make sure you understand all details of the agreement. Get the clauses explained so that there are no hidden costs involved. Clear the terms about the down payments, rates of interest, repayment period. If you are opting for any discount offers or advertised offers, be careful so that you do not have to shell out more than you had calculated. Be confident and do not be tricked into something beyond your reach.

Check Endorsement: When you have satisfied yourself with the details of the car loan program, you are ready to apply. Once your loan gets approved, you will be in hurry to pay and get that car. In the meantime, check out the car carefully and satisfy yourself that it is in good condition. Then get the deal in writing from your dealer stating all the terms and conditions you had discussed with him. Sign the agreement and then only handover the check. If you give away the check early, the dealer may change the terms and conditions which will endanger your position.

Be the first to comment - What do you think?  Posted by ezcarfinance - November 16, 2011 at 5:12 am

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Four Steps to Improve a Credit Score With Bad Credit Auto Loans

Assume that you have been thinking of buying the dream car and you are bogged down by your poor financial reports. Your statements show bad credit ratings and low credibility. It implies you are in a bad position to take loans. If you are depressed over these bad credit scores and find it very difficult to cope with your financial conditions, it is time to relax.

The bad credit auto loans program can not only help you to buy the car but also help you improve your financial position. You may be surprised to hear that a loan can help your credit scores, but it is true. You can accomplish this objective if you stay focused and follow a definite plan in a disciplined way without mistakes.

Calculate: The idea of improving credit ratings with help of a loan is a revolutionary one which tends to benefit millions when applied properly. The first step is assessing. You will need to evaluate your financial position accurately. Know the key monetary strengths and weaknesses that you have. Calculate your income and expenses so that you know how much money you can spare every month in addition to your current expenses. That will be the exact amount you can afford as you monthly loan installments.

Search: Once you know your financial capacity and credit scores precisely, start looking for bad credit auto lenders who are willing to offer loans to people with poor credit you will come across numerous lenders. You can look in the banks, dealers, manufactures, credit unions and even private lenders. Many will be offering special discounts and promotional offers, do not be mesmerized by them. Stay alert and get all the details from these lenders regarding the loan. It shall definitely include aspects such as rates of interest, repayment period, discount offers, penalties involved, terms and conditions. By the time you finish collecting all the information, you will have a big dossier by your side.

Comparison: Now begins the pain sticking process of comparison. You will need to compare all the loan schemes you have in the dossier. You will have to determine the loan scheme that suits your requirement the best. You will also have to ensure that the monthly payment calculated for that particular scheme should be equal to or less than the affordable amount which you have calculated previously. If you choose a loan which is beyond your payment capacity, then the result may be disastrous as you will again end up with default payments and it will further take your credit ratings down.

Apply: Once you are sure about the loan, go ahead and visit the concerned lender. Bargain the rates and other details to get the best offer. Then apply for the auto loan with confidence. When your loan gets approved, visit the dealer where you had seen your car. Negotiate the terms and conditions with the dealer and get it into a written agreement. Once the dealer and you have signed the deal, forward the check to him and get possession of the car. Further, make sure that you do not default on any of the payments of the loan and with time your credit scores will automatically improve.

Be the first to comment - What do you think?  Posted by ezautofinance - December 16, 2010 at 4:46 am

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No Money Down Car Loan with Low Income

Bad credit car loan rates are not fixed, and they vary a lot from lender to lender. However even rates for no money down auto loans is different for different lenders, and these rates are calculated on the basis of different parameters. Generally, people with less than perfect credit have to pay higher interest rates.

Research Well On Bad Credit Car Loans

A research says that 1/3rd of the consumers do not take time to research the topic well. There are a lot of simple queries which might deter you from going ahead with a bad credit car loan. Try to get as much information as possible about the vehicle and the type of loan which you are willing to take. If you fail to do this, you might be making a recipe for financial disaster. Before you get dejected by the struggle of getting poor credit car finance, just keep in mind that there is a lot of competition in this industry which is beneficial for you as a consumer. The intense competition between lenders, gives you an opportunity to exercise your right to choose between good and bad. Those who offer a flexible rate should be chosen over others who are not ready to work in the interests of the consumer. If the market is really competitive, you can further negotiate and get guaranteed auto loans.

Types of Bad Credit Auto Loans

Basically, there are two types of bad credit auto loans, secured and unsecured. The nature of the loan will impact your chances of getting a loan directly. Secured loans are loans which require the borrower to show and place assets as security against the loan which is taken. Since, the lender has something as security against the loan which is being given; lower interest rates are given to the borrower. But in case of unsecured auto loans, interest rates are higher.

Be aware of the market scenario when you are willing to take a bad credit auto loan, and this will avoid fraud. It is also suggested by experts in the field of used auto loans, that a person should at least know the basics of the loan.

Be the first to comment - What do you think?  Posted by autoloan - December 13, 2010 at 6:03 am

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What Is Subprime Auto Lending And How Is It Different From Traditional Financing?

Subprime lending has become the new buzz word in the market and there are many other names added to it. They can be called as second chance auto financing, near prime lending, non prime lending. This is a form of lending where maximum risk is exhibited by the lenders. Subprime auto lending is not realized in most of the cases because of which the entire process becomes a risk for the lender. These are loans associated with the secondary markets and there is a rise in the number of people seeking this kind of loans.

There are several factors that are considered by sub-prime auto lenders. Factors such as credit rating, amount of the loan, employment stability, and financial background are some of the common factors that are examined in detail. The term of sub prime auto loans is more of a colloquialism when compared to the traditional kind of loan. A car loan offered at subprime rate is considered risky than offering a mortgage loan. However, prospective borrowers consider this as a pathway to fulfill their dream of buying a new car even when they have less than perfect credit.

Cars have become an integral part of life. It becomes very difficult to commute to office, home, party, events and many other places. It helps them to be mobile in all possible ways. Any dealer will under estimate your financial condition when the credit rating is not perfect. There are lenders who are specialized in offering subprime car loans. It is important to understand the basic differences between subprime and traditional loans.

The interest rate would be high when compared to normal loans. Given the fact of having bad credit rate, it is probably a greater risk for the lenders to offer the loan. The reason to charge higher interest rates is obvious which will lead to higher APRs.

The terms and conditions could be even stricter when it comes to subprime car financing. There could be huge penalty imposed when you miss to pay a single payment. But this is the way subprime lending works.

The duration of the loan will be shorter and it is recommended to finish off the loan as early as possible. It might be a slight inconvenience for some of the borrowers. However, the lenders are not ready to extend their risk limit.

The above said points should be an eye-opener when you think about subprime auto loan lenders. Consider these 3 points before selecting your lender. It is a great boon for people not having stellar credit and have been toiled and moiled because of the recent recession. Make the best use of this opportunity to find the best of subprime lenders.

Be the first to comment - What do you think?  Posted by rapidcarloans - December 9, 2010 at 10:22 am

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