Posts Tagged ‘dealership’

How to be ready for No Credit Auto Loans?

People with no credit history are often envious of car buyers with good credit ratings. Even though banks and traditional lenders have a strict lending policy for buyers with no credit score, you can obtain no credit auto finance for buying a new car. Auto loans are not impossible for a person without established credit history. Remember that most loan rejections occur because the credit borrower doesn’t have the right knowledge and doesn’t apply at the right place. So, before you apply for a loan, let’s get you ready for the loan program.

Haste is Waste

Car financing is a lengthy process, and there is no quick fix solution to it. To become successful in getting no credit car loan approval, you must approach it like you approach a test. Just like a test needs preparation and hours of study, auto loans also require some planning. You need to learn the requirements of the lender and increase your approval chances.

Create a Car Budget – Without a proper budget for a car and car loan, you will end up choosing a high-priced car. When you buy an unaffordable car, you will increase your chances of ruining the credit score. So, list down all your income and expenses and ascertain a monthly payment amount that is comfortable for you.

Complete the Paperwork – Lenders will require the following documents:

1. SSN

2. Financial Documents like pay-stubs, receipts of utility bills, etc.

3. Bank Statements

4. College Acceptance Letter, if you are a College Student

5. Employment Verification Letter, even if you are part-time employee

Down Payment and Co-Signer – Lenders’ risk increases when they provide auto financing to an individual without any credit history. It is because they cannot ascertain your borrowing history. So, they require down payment or co-signer. Lenders may even require you to provide both the things if you have:

1. Very low income

2. Recently joined work

3. Chosen a very expensive car

Once you are ready with all the paperwork and down payment, you have to make the following choices:

A. Used Car vs. New Car

Today, buying a new car with0ut any established credit history is possible. But, there are chances of receiving slightly higher interest rates. If you earn a stable income of more than $1800 per month (gross monthly income) and can manage higher payments, you can buy a brand new car.

But, if you want to opt for an affordable option, it is always advisable to buy a reliable used car. Once you complete your education and start your job, you can buy a new car. By then, you would have established a good credit history which will be an added advantage.

B. Dealer vs. Private Party

If you want to buy a used car, you have two options. Either you can buy it from a dealership or purchase a vehicle from your friend, colleague or neighbor. It will be considered as private party car purchase. Dealership will provide you with the benefit of warranty and reliability whereas private party purchase will ensure a lower price. Lenders offer no credit auto loans for both the types of car purchases and choose any one.

C. Online Lenders vs. Dealership Finance

When you are done thinking about the car, you have few options to consider for your loan. You can either apply with an online lender or choose dealership financing. Both the options are convenient for a no credit buyer because each provides approval with fewer restrictions.

Once you decide on the above-mentioned factors, you will be ready for no credit auto loans.

Rapid Car Loans is a leader of the auto financing market. It has helped several young car buyers in obtaining zero credit auto loans. Contact the company for obtaining quick approval on first-time car buyer program. Apply now.

Be the first to comment - What do you think?  Posted by carloans4nocredit - November 1, 2014 at 4:04 am

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A Low Income Auto Loan Is a Boon to Borrowers with Low Income

A car is one of the basic requirements in America. But, low income often poses a challenge in satisfying car needs. If you are facing the same problem, worry no more. Low income auto loans are here to make your car dream come true. Read more to know more.

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Be the first to comment - What do you think?  Posted by Alan Hendricks - March 19, 2012 at 8:19 am

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How to Get a Good Deal on Car Loans in New York State?

The North Eastern State of New York is famous all across the world. Ever on its heels – Manhattan, wild Catskills, enormous Adirondacks, hilly Central New York and the Niagara Frontier, the state is full of natural diversity.

To explore the beautiful Empire State, car is your best option. New or used cars require an investment on your part. You need money for buying your dream car as well as for other collateral expenses. But, don’t think a car is out of your reach because of the huge finance required. You have the option of car loans. Yes, auto loans can make your car dream a reality.

You may consider loans as a necessary evil but a little caution can turn them into a heaven-sent gift. If you stay alert while availing loans, you can definitely strike a good deal. Let’s understand how to avail a perfect car loan for your perfect dream car.

First of all it is important to ascertain your affordability. You must exactly know how much you can spend on payments each month. For this, calculate your monthly income and deduct all expenses. The remaining amount can be utilized as payments.

You can also take help of online calculators. Several auto loan websites have this application. You will be able to know exact amount of payments.

After you calculate your budget, it’s time to know your credit score. According to the amendment to U.S. Fair Credit Reporting Act (FCRA), you are entitled to receive a free credit report once every year. Go to the website annualcreditreport.com and avail your credit report.

An excellent credit score will allow you to get low rate car loans. Credit rating is a major factor in lowering your interest rates. NY lenders will also consider your ratings and ascertain your financial history.

Recent economic recession has left millions of people with bad credit score. Banks and financial institutions understand this bitter truth and so you don’t have to worry about your score. There are several lenders in and around New York State who offer bad credit car loans. For improving your chances of approval, you can make a down payment or ask someone to co-sign your loan.

With the advent of internet, you are no longer forced to visit offices of several lenders. It is the fastest way to secure a loan in New York. You can just log in to the companies’ websites and fill the application forms. Apply on those websites which offer free car loan quotes. If you don’t keep this in mind, you will have to waste dollars for just getting the quotes. Applying with more than one company increases your chances of getting lower interest rates and better services.

Your best loan quote won’t be the one with lowest price. It is essential that you consider several aspects before making a decision. Calculate the APR. It will help you to know the interest rate for a whole year instead of just monthly payments.

Also, it is important to understand the loan conditions. There is no point if the lender offers low interest rates but charges pre-payment penalty. Explore all options before deciding on one lender. Pick up a lender that offers flexible loan terms. Also, check for hidden fees.

Your ultimate aim is to save money over the period of loan term. So, it is crucial that you choose the best dealer.

Make a wise choice and achieve your car dream.

Take a wise decision by availing auto loans in New York from RapidCarLoans.Net. Non-obligatory car loan quotes and transparent loan conditions are just few of the benefits. Apply now and fulfill your auto dream.

All the best!

Be the first to comment - What do you think?  Posted by newyorkcarloans - March 17, 2012 at 9:54 am

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To Get Instant Approval on Auto Loans, Know What NY Lenders Expect From You

Imagine travelling to the boroughs of NYC in your car. Driving to the picturesque Catskills and the astounding Niagara Falls in your luxurious car would be so much fun than using the scarce public transport, wouldn’t it?

A car has several benefits in the State of New York. Not only it will take you places, but will also provide you comfortable travelling. It is sheer thrill and adventure to drive your own car. If you do not have a car, you are definitely missing on fun.

Do not shy away from buying a car just because of financial constraints. Times have changed and now you have the opportunity of buying your perfect car at competitive rates. You are no longer required to avail exorbitantly high auto loans.

Internet has changed the way we live. You now have the option of availing auto loans at the click of mouse. This means you are no longer required to walk down to the lender’s office. You also have the option of faxing your documents.

When you use the online option, it is important that you choose a secured website to share your information. Check the website’s security certificate. Also, ensure the company’s reputation.

The online lending company will provide you an application form. Fill all required details and hit the submit button. The company will forward your application to the lenders who will then contact you.

To get instant approval, it is important that your information is convincing. If you have a bad credit score, you can avail instant approval on auto loans by making a down payment or by asking someone to co-sign your loan agreement. This will prove your credibility as a borrower and will also offer the extra edge to obtain loans.

Getting loans in the Empire State can be difficult if you do not know the criteria. It is very essential to understand what lenders expect from you. If you know it, it becomes easy for you.

Proof of Employment

Instant loans can only be given to trustworthy individuals who can guarantee regular payments. Employment ensures payments and hence, lenders want you to be employed with the same employer for at least a year. You can show your pay stubs to prove your employment. If you are a 1099 contractor, you can use your tax returns for the same.

Age

To avail instant auto loans, you must be above 18 years of age.

Valid License

When you avail instant auto loans, your car will be used as collateral. So, the lenders want to ensure safety of car and would be interested in knowing about your driving.

Proof of Insurance

Until you pay-off your loan, your lender will have interest in your car. If anything goes wrong with car, the lender’s interest would be affected. Hence, lenders would want you to buy auto insurance.

The above said conditions can be fulfilled by any working individual and that is why, it is easy to obtain instant approval on your new car financing and used car loans.

To increase your approval ratio, apply on several websites. It is a known secret that lenders have their own criteria for accepting an application. So, it is highly possible that a lender rejects your application because you have a bad credit score whereas another lender may accept it.

Instant approval on auto financing is achievable when you take quick decisions. And to take quick and accurate decisions, precise information is a necessity. Hence, clear every doubt of yours. Ask the lender about interest rates, hidden fees, charges, pre-payment penalty, etc.

As you get quotes from several lenders, you will have the opportunity of comparing them. You should not compare on the basis of monthly payments. Calculate APR. It will give you the idea of interest rate for the whole year. It will help you compare car loan quotes on the same pedestal.

Also, do not consider the lowest option as the best. You must also consider the loan term. A loan with very low-interest-rate spread over several years is of no good use. This is so because the car will lose its value over the loan term.

Availing quick approval is easy when you know what lenders expect from you. So, match yourself to the lender’s expectation.

Simple car loan application process and transparent lending conditions are the reasons why RapidCarLoans.Net is a well-known name today. Avail instant car financing in New York and get ready to drive your dream car.

All the best!

Be the first to comment - What do you think?  Posted by newyorkcarloans - at 9:51 am

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How Easy Is to Get a Car Loan in California with Poor Credit?

Are you from California and worried about how to finance your car? And your poor credit score is adding to your worry? Residents of California who have poor credit can actually take a break from their worries because bad credit car loans are now easy to get. They are just a click away and can be accessed from the comforts of your home or office with no application charge to pay.

You may come across many dealers who are willing to give you the car even before your poor credit auto loan gets approved. However make sure that you do not fall prey to them. In such a case, you are likely to be called back and will have to renegotiate the rates of the poor credit car loans. Instead, wait until your vehicle loan has been approved and you have signed the written agreement after studying the terms and conditions offered for the loan. This is to ensure that there are no blunders from the part of the dealer and you know exactly what you are getting into in terms of payment, and interest rates. There certainly should not be any hidden costs involved because a car loan is a means of relaxation in your life and not unnecessary tensions.

Getting a bad credit car loan is not a very difficult task in reality. There are many dealers who will find you the right car or SUV within your budget even with bad credit. In California, there are options of securing horrible credit auto loan with the help of collateral. In such cases, the Californians prefer a secured debt for the loan because they have lower rates of interest than the interest rates on conventional loans.

Ensure that you have done a thorough checking on the lender’s credibility. In California, the law covers the risk which the consumers may face when opting for car loans of this type. Federal Truth in Lending Act requires disclosures like APR and long terms to be made. When you are investigating the dealer and the lender, make sure that you know the disclosures that are essential to be made by such lenders.

In case you are looking for bad credit auto loan, you can try reputed ones among the various auto loan dealers. They provide straight and simple solutions to owning autos for Californian residents even when you have poor credit. Getting in touch with a dealer will definitely make your experience a lot more enjoyable and hassle-free.

The Californian auto loan services offer their services at no charge and include most of the paper work like application review, processing, suggesting the most suitable scheme to finance your purchase and finding you a reasonable and dedicated dealer with proper customer services. They are best to work with due to their wide network of lenders and financers. Since there are no limitations in California on the rates of interest, so go ahead and compare the rates to get the best deals.

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

Be the first to comment - What do you think?  Posted by californiacarloans - December 3, 2011 at 4:23 am

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Deciding on The Right Used Auto Loan Program

Most people cannot imagine about moving on without a car. But before you buy one, it is advisable to do some investigation. Buying a car starts from deciding the car you want to buy and continues to how you will finance your purchase and ends with having signed the deal. It may not be that your budget allows you to purchase a brand new car. Rather you may have to satisfy yourself with a used car and get it financed through a used auto loan program.

Do not feel low about it. It is economical in today’s world and it will still be a new car to you. Besides, used cars in good shape and good mileage are the most affordable things. Take a look and find the car you need, and then check the prices both at the nearby car lots and at your local market. This will give you a generic idea and will help you to make comparisons. Once you have decided about which car to purchase, now comes the part of automobile financing.

If you do not have that extra cash available to finance your purchase, you can easily opt for a used auto loan. Whenever you visit a dealership, it may offer you loans. Keep them in mind so that you can compare the rates once you have visited most of them in your town. You can also go online and put your figures in the used auto loan calculator and you will get the amount you will need to pay. You can get an idea whether it is within your affordability.

It is now time to find a lender. For used auto loans, banks may not be the best option as there is a general trend that the banks reject applications for used auto loans citing that the value of the used car is not worth the risk involved. It is best if you approach private lenders and local ones for the used auto loans. Ask your friends if they know any lender. Expect to pay a down payment and a good rate of interest. Yet it will be economical in comparison to purchasing the new car.

To understand how you stand to benefit by availing a used auto loan go through a simple planning. Before you start off with the purchase spree, know how much you can pay monthly if you procure a used auto loan after paying off your regular expenses. The monthly payments are going to be higher if you are on bad credit even if you are willing to opt for a used vehicle loan. A lot depends on the condition of the car also like the age of the car and its mileage. When you are calculating the monthly payments, take into consideration the term of the loan, the upgrade and repair costs and the state or province taxes involved. Once you have made the calculation, make sure that it is not a tight fit; else you will stay tensed about making the payments than enjoying your car.

Be the first to comment - What do you think?  Posted by ezcarfinance - November 10, 2011 at 4:32 am

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Get Prepared to Apply for Low Rate Auto Loans

Whenever you are thinking of opting for the low rate auto loan, keep some of the factors in mind. These will help you get through the whole process with a relaxed mind. Here are some aspects like budget, credit rating, down payment, lenders which you can take care of from beforehand.

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Be the first to comment - What do you think?  Posted by ezcarfinance - November 4, 2011 at 12:13 am

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