Posts Tagged ‘Used Cars’

Down Payment and a Co-Signer Can Help You Get a Bad Credit Car Loan in New York

New York is truly the Empire State. The State absolutely rules when it comes to travel destinations. There is the world famous concrete jungle of Manhattan and the illustrious Statue of Liberty. You also have other travel options like the magnificent Niagara Falls, wild Adirondacks and wineries of Finger Lakes.

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Wouldn’t it be great to travel to these wonderful places in your car? A car can give you a chance to explore your State. Not only that, imagine going to work in the comfort of car. You don’t have to take the train or bus anymore. No impatient crowd, no haggling for seats, just peaceful car travel. So, buy a car today and add comfort and peace to your life.

Is bad credit holding you back from buying a car? A bad credit score often creates massive problems. You may have a bad memory of lenders. It is obvious because traditional institutions refuse to write bad credit auto loans and even if they agree, high interest rates are charged from you.

But since recession, many New Yorkers have not been able to maintain a good credit score. This means bad credit is quite common these days. There are several people dealing with it. But they still avail auto loans. Let’s understand how people get reasonable car loans with bad credit.

You must remember that every name has significance. It’s called credit “history” because it’s your history, not your present and definitely not your future. A low FICO score is certainly a hurdle but it doesn’t mean your car dream is over.

It is true that banks won’t even touch your loan application if it mentions a poor credit score. But, there are several subprime auto lenders who offer bad credit auto financing in New York. These lenders have understood that there is a wide gap between the traditional lenders’ expectations and borrower’s reality. And, hence there is a great potential of business. It is for this reason that they offer loans to people with poor credit score.

Before applying for loans, know how bad your credit score is. You can avail a free credit report from freecreditreport.com. There are chances of errors and mistakes in the report and so you must check it thoroughly.

After you verify your credit report, apply for a car loan. Internet can be a great help for getting bad credit auto loans. Go online and fill the application form. As lenders have different criteria, it is essential that you fill application on several websites.

Spend a good time doing research. Compare auto loan quotes and then take a decision.

For improving your chances of approval, you can make a down payment. A down payment will prove the lender of your financial capability. You can also ask someone to co-sign your loan agreement. If you get a co-signer for your loan, the lender will have an assurance of getting his money back. Down payment and co-singer will help you bring down the risk.

Buying a car with bad credit score is not impossible. Smart shopping and alertness while choosing a lender can turn your car dream into reality.

Be a smart New Yorker and make a smart decision by availing bad credit auto loans New York from Rapidcarloans.net. Get the best interest rates for new as well as used cars. Apply now and say good-bye to outrageously high interest rates.

All the best!

Be the first to comment - What do you think?  Posted by newyorkcarloans - January 28, 2013 at 9:22 am

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A Comprehensive Guide to Buy Your Dream Car in Detroit

Cars have been the best invention ever! They have brought a greater change in our life than any of us could ever imagine. Our lives are altered and our social existence has undergone a great change because of the four-wheels. And, well what has been at the center of everything? Detroit. It is the city in which the dream of automobiles was conceived.

Since the establishment of Ford Motor Company by Henry Ford, Detroit has never paused. The Hockey town has steadily grown from a sleepy residence to the hub of sleek cars. Detroiters are known all over the world for their love of car. Their passion for cars can be seen by the huge turnout in the ongoing 2012 Detroit Auto Show.

When automobiles are your passion, you want nothing but the best. This article is an attempt to help you get that best car. It will give you a detailed explanation of making the perfect car purchase.

New or old – car buying can spell trouble if done haphazardly. So, let’s set the ball rolling and begin our journey of buying a splendid automobile.

How Will You Bring It Home?

There’s no such thing as a free lunch. You have to pay for each and everything. And, cars are no different.

Buying a car is not like ordering Jet’s Pizza. You need to think a lot more and prepare a budget. You must understand that a car requires huge commitment on your part. Several expenses will have to be borne. Not only the cost of car, but there are other expenses like registration and title fees, State taxes, insurance, fuel, maintenance, etc.

Make sure you don’t have any major expenses coming up? If so, you will have to save on it and making a decent down payment will become difficult. So, take a wise decision.

Old or New Is like Smokes and Mirrors

The question of choosing an old classic or a sparkling new beauty can be clearly declared as the dilemma of the millennium. If you have simply loved the new 2013 Acura RDX or the Ford Fusion at the Auto Show, you can think of buying a new car. A new car means high investment in the beginning. But, it will definitely have lesser maintenance cost in future.

If you are someone who believes that cars tell a story, pre-owned cars is your option. The Motor City provides you several alternatives when it comes to used cars. Detroiters simply love cars and experiment buying several different makes and models. This means people sell their cars every year. With the beginning of the Auto Show, there are higher chances of trade-ins so that people can buy cars that were on display. This makes the best time to buy a used car as there will be high supply of used cars and on the other side, less people will be asking for it. This puts you in the commanding position. You can negotiate more fiercely.

Detroit is blessed with four distinct seasons. You need a car that can combat the cold and stormy winters and the occasional summer down pour. So, choose a car that is well suited for all seasons.

The Detroit household’s median income for 2005-2009 was $ 29,447 (U.S. Census Bureau). This means monthly income comes to something around $2400. If you consider all expenses of rent and utility, there will still be $200- $ 400 which can be spent on monthly payments. So, you must set your eyes on a car that is well within this range.

New or old- it all depends on your choice. The clearer you are; the easier it will be to narrow down your choices.

How To Cherry Pick Your Car?

While selecting a car, you must do a thorough research. Ask your friends. Also, read expert comments and reviews about a particular model. Websites like the autofocusdetroit.com, detroitnews.com and freep.com can help you with new developments in the automobile industry.

Hedge your bets by selecting few cars. If you choose just one car and it doesn’t have a good history, you will have to make a fresh start.

If any of the chosen cars is a pre-owned, make sure that you get its VIN. Check its history. If it’s been salvaged, it’s better to stay away from it. Also, ask your trusted mechanic to check it.

Last But Not the Least

Once you are sure about your car, all you need to do is get it registered at the Detroit SOS Branch Office. The city follows laws of the State of Michigan. Here’s a list of offices located around the Rock City.

1. SOS Branch Office
550 Washington Blvd.

Detroit, MI 48226

2. SUPER!Center Branch Office
3046 W. Grand Blvd.
Detroit, MI 48202

3. SOS Branch Office
8717 Joseph Campau Street

Hamtramck, MI 48212

4. SOS Branch Office
7760 W. Vernor Highway
Detroit, MI 48209

5. SOS Branch Office
14301 Woodward Ave.
Highland Park, MI 48203

Most branches are open on weekdays from 9 to 5. On Wednesdays, the office is open from 11 to 7. This is only true for those located outside the city buildings. You must remember that the SUPER! Center and PLUS offices are open for more hours.

You will have to get the vehicle’s title within 15 days of the purchase. Late registration fees are $15. Title transfer fee is $15 and you will also have to pay 6% use tax.

Applying for the title requires you to have the proof of vehicle ownership and valid identification. The Michigan Law and Federal Law require the disclosure of actual odometer reading while transferring or assigning car title. You can avoid it if your vehicle is not self- propelled, is older than10 years, or weighs more than 16,000 pounds.

If you want to buy a new license plate, a valid Michigan no fault insurance certificate is required. It will be fun to choose your plate from several designs. If you have 1984 model or a newer vehicle, license plate fees will be calculated as a percentage of the MSRP. If it’s older than that, the fee is calculated by taking into account the weight of vehicle.

You also have the option of transferring your old license plate. You will need your current valid registration and title of the new car to which you want to transfer the plate. This will cost you $8.

You will go to the SOS office without a car to your name, but will leave with your dream car. So, this is how the car buying process can be done.

Don’t wait anymore to drive your dream car. Allow yourself the privilege of a car and revel yourself in the glory of a city that breathes and thrives on cars.

Paint the town red in your very own car with Rapidcarloans.net. We offer the most reasonable auto loans in Detroit. New or old, bad or no credit – our wide network of skilled lenders and dealers allows us to serve one and all. Apply on our website and say yes to the best car loans in town.

Best of Luck!!!

Be the first to comment - What do you think?  Posted by michigancarloans - January 11, 2013 at 9:01 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 Buy a Pre-Owned Car in the Beaver State?

The automobile has not merely taken over the street; it has been dissolved in every inch of our culture. We, Americans are totally passionate about our cars. It has totally become a part of our life, a part of our own self.

If you don’t own a car, you haven’t experienced the joy and thrill associated with it. Just holding the steering gives a great adrenaline rush. If you want to buy a car in Oregon, there are plenty of options.

Don’t restrict yourself to new cars. Pre-owned cars can also serve your purpose. Don’t worry about buying a lemon. Oregon DMV now requires the manufacturer to add “Lemon Law Buyback” to the title. So, by looking at the title you will be able to learn about the car’s history.

There is another incentive for buying a used car. As the year is approaching its end, dealers would be more interested in achieving their sales target. It is the right time to buy a used car. You will get several discounts and incentives.

Information Leads to Perfection

You must remember that buying a car is a major decision. Even if you buy a used car, it will be with you for at least 2-3 years. So, it is important that you take time to think about it. You can take a well thought decision only after knowing everything about buying a used car in the Beaver State.

This article will take you through the entire process of buying a used car. Right from budget and finance to registration with the Oregon DMV, you will understand everything. So, let’s start with it.

Money – Wise

When it comes to money, it is important that you stay on top of things. First of all, think how much money you can spend on the car. Well, there are used car loans but hardly anyone will offer you money for paying registration fees and insurance. All the collateral expenses will be borne by you. Make arrangements for it and make regular loan payments.

Needs Are the Basic Drive for Car Purchase

The basic work of your car is to take you places. It is important that it does its work effectively. If you live in the hilly region of Cascades, then you definitely need a sturdy SUV. If your home is near the windswept Pacific region, then almost any car would be fine for you. Not only geography, but it is essential that you consider your needs. If you are student, it is important that you consider a low maintenance car. If you have to travel long distances every day, a fuel-efficient car is required.

Efforts in Gaining Knowledge Is Never Wasted

A well – prepared customer wins half the battle. If the seller knows that you are unaware of car buying concepts, he’ll take you for a ride (a ride which will definitely include exorbitant prices).

If you want to buy an electric car model, Electrifying Times is an information magazine published in Oregon. Sports Car Market is another magazine in Oregon. You must also take opinion from your family and friends. If you are lucky, you may end up buying a good car from your cousin.

Choosing Your Car – Let your mind do the work

Once you get knowledge about cars, it’s time to get out and play your game. Dealers are interested in making profit. So, it is essential that you play your cards right. This is the time to make a rational decision. Let emotions take the back seat.

On the basis of your needs, choose your car. You must never narrow down your search to one. Keep your options open.

Make a choice of 3 or 4 of your favorites cars. Get VIN of each car to know the car history. Avoid car with a salvage title or several accidents.

You must ask your trusted mechanic to inspect the vehicles. Ask him to check for any signs of water and rust. If any vehicle is flooded, it will have moisture in the headlight/tail-light compartment or the engine will be rusted.

Once the mechanic Okays the cars, test drive is essential. You get the best idea when you use it. Pay attention to the car’s steering ability and acceleration.

After test driving the cars, you will be able to select the best one. After you make a choice, it’s time for registration.

Title and Registration

A dealer in Oregon does the work of submitting title and registration. If you bought your car through a private party, you will have to undertake the process. In any case, knowing the process can make things easier for you.

If you are buying a used car, you must get the car title from the seller. Ask the previous owner to release his interest in car by signing the reverse side of the title. The seller will write your name and address, date of sale, sales price on it. Ensure that the information is accurate.

He will also have to sign the Bill of Sale (Form 735-501). It is mandatory for the seller to notify the DMV about the sale within 10 days from the date of sale. As a buyer, it is your responsibility to apply for a title within 30 days of purchase. If you don’t do so, you will be charged a late title transfer fee. The fee is $ 25 (31- 60 days). After 60 days, you will be charged $ 50.

See that the Lien Release (Form 735-524) form is duly filled.

After you receive these documents from the seller, you will have to fill the Application for Title and Registration (Form 735-226). If you are renewing your old license plates, give insurance information. The title fees are $77. It is important to carry cash or check as DMV doesn’t accept debit or credit cards.

There are some conditions if you are renewing your license plates and you live in Portland or Rogue Valley (Medford) area, or if you are trying to register a car with no Oregon registration. It is essential that you pass Department of Environmental Quality (DEQ) inspection. The requirement is as follows:

1. Portland – 1975 models and newer require testing

2. Medford – 20 years old and newer models must be tested.

You will have to undergo the tests even if your vehicle runs on alternative fuels and hybrids. If you decide on choosing a specialty plate, you will have to mention the name in the “Remarks” section.

If you want to transfer the old plates, you can do that. Your license plate should be one that the DMV still issues. Also, it can be transferred to same vehicle type only. The State DMV charges $6 as transfer fee.

Once the DMV headquarters receive your applications and documents, your plates will be mailed to you in 5-10 business days. You will receive car title in about three to five weeks.

So, that’s how you can go from walking on two to cruising on four. Buying a car in Oregon is simple and easy.

So, when are you going to change from tiring walks to comfortable cars?

Change is good when it is affordable. Your car buying experience will be pleasurable when you get the most reasonable auto loans online. No longer a dream, low-interest rates are a reality with RapidCarLoans.Net. Apply now for auto financing in Oregon and feel the difference!

All the best for change!

Be the first to comment - What do you think?  Posted by oregoncarloans - March 12, 2012 at 6:15 am

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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.

Coverage:

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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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Understand the California Laws for Buying a Used Car

Just an invention yesterday, an absolute inevitability today! Since the simple steam engine automobiles in 1769 to the present day mean machines. Cars have been a thing of awe in past and a total necessity now.

California is the third largest U.S. state. A beautiful Mediterranean climate makes it optimal for road trips. A wide network of freeways, expressways and highways is another reason why Californians truly need a car.

As buying a new car is very expensive, going for a used one is a good option. But most of us are apprehensive of buying a car. We all have been deceived by car dealers for long.

You don’t have to worry anymore as the California Car Buyer’s Bill of Rights will help you. The bill which came into practice on July 1, 2006 has had a great impact on the purchase of new and used vehicles.

The Law provides you with the following privileges:

Two-Day Return Option On Used Cars

You have the option of returning the car in two days or as per the duration decided by the seller. So, now you don’t have the “three-day cooling off period” which was previously offered by the dealers for canceling a contract.

The only condition for availing this right is that the value of the car should be $40,000 or less than that.

If you want to avail the Return Option, the dealer will ask for a Restocking Fee. When you return the car, the dealer will deduct the Return Option Charge and pay back the balance. The Return Option Charge and Restocking Fee are based on the price of the car. Some dealers may also offer you the Return Option for free.

But keep in mind that there are few rules for returning the car. They are as follows:

1) The car should be in the same condition as you purchased it from the dealer. Normal wear and tear is allowed but nothing more than that.

2) You shouldn’t drive the vehicle for more than 250 miles. You can only exceed the limit with the permission of the dealer.

3) You must return the car and the original documents vis-à-vis before the due date although you can keep contract copies with you.

If you have bought the used car in a trade-in and the dealer sold your car, you will get the fair market value or the price listed in the agreement, whichever is greater. Keep in mind that you won’t get the car back.

Buyer Disclosures

Under the new Law, dealers must provide you the following in writing:

>> The actual price of the car exclusive of extra options and add-ons.

>> The price for add-ons like anti-theft devices, safety devices, service contracts, extended dealer warranty, etc. should be given separately.

>> A copy of your credit history if you are getting a car loan from the dealer himself. The dealer will have to mention the credit reporting agency also.

There are several other laws which help you while buying a used car. One of them is the California State “Lemon Law”. It gives you the right to refund or replace your new or used car if it has some serious fault.

We have the Bill of Rights, but what about the Responsibilities?

Everyone is responsible for their own fate. The State of California assures that you will be safe while buying a car. But you also need to be alert.

It is essential that you meticulously check the car. A used car may have major problems so it is crucial that you ask your mechanic to inspect it.

Verify that the car meets the California standards and is currently registered in the State.

When you buy a car, make sure that the seller provides you with a Smog Certificate.

Do not sign any documents until you have understood them. You can also get a copy of the contract in the same language in which you communicated with the dealer. This will make certain that you understand every term accurately.

You also have the task of finding affordable financing for a car. You can avail it from a dealer or a financial institution. You also have the choice of internet. When you go for an online search, make sure that you compare car loan rates and go for the best available option.

Alert today, happy driving tomorrow!

Rapid Car Loans provides car loans in California at reasonable rates. We specialize in providing loans for used cars. Visit www.rapidcarloans.net to know more about the wide range of loans that we offer.

Be the first to comment - What do you think?  Posted by californiacarloans - November 18, 2011 at 3:36 am

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All That You Wanted To Know About Student Auto Loans

You need not worry about your student status, when you apply for such loans. There are auto lenders who might try to influence you to compromise. However, you do have the right to demand the best for yourself. The market of money lenders is huge and you can always opt for that lender who would offer you the best deal.

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Be the first to comment - What do you think?  Posted by ezcarfinance - November 4, 2011 at 3:21 am

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Lower Interest Rate Is Not the Only Criteria to Compare Auto Loan Quotes

Commuting every day to work in crowded buses or traveling in jam-packed metros is a nightmare. It is for this reason that cars are being given a serious thought. If you own a vehicle, you can go places and get your work done faster. Cars are beyond doubt an essential element of every home!

Driving a car is an amazing experience, but buying it is a great pain. Why? Well, affordability is the main reason. Even used cars have become very expensive these days. One can buy a car only with an auto loan. And is getting loans, easy? I wish it was.

Walking down to every lender, filling up several forms, waiting for loan approval, too much, eh? Want to turn this awful experience into a fabulous one? Want to make it more quick and easy?

By the end of this article; you will be having an exact idea of getting that auto loan which has been so far elusive.

“Any Sufficiently Advanced Technology Is Indistinguishable From Magic” – Arthur C. Clarke

Truly, internet is magic. There is no denying that. It has ushered in an age of quick solutions to everyday problems. It has made the tedious auto loan process very simple. The era of waiting has long gone. So, without wasting any time, let’s comprehend the entire process of getting online auto loans.

To Do It the Right Way, It Is Important To Know It Well

When you have to avail instant loans, it is important that you do your homework. You will have to consider how much you can afford to pay and also take care of your credit score.

Money Matters

No matter what any lender tells you, never go for a loan when you cannot afford it. Lenders have the habit of luring you into their schemes and when you cannot pay they just take away your car.

So, please consider how much you can pay and then go for a loan.

What’s Your Score?

Your credit history has a lot to do with your loan approval ratio. Avail your free credit score from theAnnualcreditscore.com. Check for any errors and make sure you know your exact credit score. This is important because you will at least know where to apply.

Are You Ready For an Online Shopping Experience?

Get online to search for reliable lending companies. Online companies partner with several institutions to help you avail instant loans.

Different Companies Work In Different Fashion

Few companies work with a particular network of dealers. If a dealer approves your loan, you will have to go him in order to choose your car. Now, if you don’t like any car, you can move on to the next dealer who offered you the next-best deal.

Then, there are companies who do not work with any specific dealer group. Such companies will approve an amount for you, which can be used at any dealer. This method is more common than the previous.

Online lenders will have one common thing in their websites. It is the “Get a Quote” option. When you click on that option, you will get a loan application form. You will have to fill in your personal details like your SSN, employment history, income, existing mortgage, current loan payments, etc. If you have already chosen your car, the car’s VIN is asked. Also details about the dealer will be requested.

Be sure to complete the application form and don’t give any deceiving information. A small difference in income or employment date can cause major changes in your interest rate.

Once you fill the form, the site will send your quote to several affiliated lenders. These lenders will send it to the local lender (of your area). After the local lenders compete for your application, you will receive a list of lenders who are keen to offer you loans.

It may happen that your application is accepted by several lenders and you will have the option of choosing any one. It is also a possibility that you may only be given the name of the lender who offered you the best deal.

Whatever the procedure, you shouldn’t really settle on any company without due deliberation.

Compare Quotes

You must compare quotes and not rely on any one online lender. Make use of the “Compare Quotes” option. With it, you will be able to make a side by side comparison of quotes.

It is important to have a broad perspective and understand every aspect before signing the dotted line. So when you compare your quotes, you must keep the following factors in mind:

1. Be Cautious

You need to realize that there are several loan sharks lurking to trick you. You should be alert while dealing online. Ascertain the company’s reputation. Read its privacy policy. You shouldn’t decide on a company if it asks to pay a huge up- front fee.

Also check the security of the website. If the URL doesn’t begin with HTTPS ( https://www.rapidcarloans.net ), it is not secured. Never share your personal details on such a site.

2. The Total Cost

There are several costs that are not obvious but form an important part of your loan. You will have to pay origination/processing fees and several other charges to the lender. Be aware of all the hidden costs associated with the loan.

Make sum of all the monthly payments, fees and charges. Once you do that, it will be very easy to compare auto loan quotes.

3. APR

Lower the APR, the Better It Is!

The Annual Percentage Rate includes interest rate and all the fees and charges. It is shown in percentage and reveals the real yearly cost of the loan. If APR is lower, you will have to spend less on the loan.

When you compare APR, you will come to know that it is not always true that lower interest rates are beneficial. They are good when coupled with lower fees. So, don’t go for a loan just because it is available at lower interest rates.

4. Loan Term

Stay Away From Longer-Term Especially When Buying a Car

Any car depreciates as soon as you drive off the lot. A longer-term loan will be dangerous as you will be carrying more risk of owing more than the value of your car. You will have more chances of getting stuck with an upside down loan.

5. Payment Liberties

You can always benefit by making few extra payments. See if you can negotiate and have pre-payment privileges. Compare loans on the basis of number of extra payments allowed.

Also check for any pre-payment penalty. There are lenders who will impose a penalty for paying off the loan early. You shouldn’t agree on such a term as it is of no benefit to you.

If you consider all the factors, it will be useful to eliminate those scam websites. The internet is useful only when you are guarded.

Get online, stay vigilant and you will find that affordable auto loan within just few clicks.

Choose wisely and don’t forget to compare!

Be the first to comment - What do you think?  Posted by carloantypes - October 6, 2011 at 6:38 am

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What to Look For in a Pre-Owned Car?

Everyone wants to buy their own car. Congestion in public transport system and complete freedom with a personal car are the reasons why we absolutely need cars.

For buying a car, you need to have sufficient resources. Don’t worry if you aren’t born with a silver spoon, you can still own a car. There are several lending companies who will give you an auto loan.

There is no harm in going for used cars / pre-owned cars, if you do a thorough research. They are easily available with car dealers, leasing companies, auctioneers and private parties. You can get a plethora of information about pre-owned cars from classifieds in newspapers or you can also use the web.

Are you apprehensive of buying a pre-owned car? Are you worried whether the car was involved in a severe accident or not? Do you doubt that it was flooded?

Don’t worry about all these things. There are several sites that offer appraisals for used cars. You can know the complete history of a car with the help of Vehicle History Report. You will get to know about the car’s title records, car insurance, salvage records and accident history. Make sure that the vehicle has a clean title and no bank loan on it.

You should also confirm the Vehicle Identification Number (VIN) to know about the year, model and odometer records.

If you are still not sure about a pre-owned car, then you should buy a CPO (Certified Pre-Owned) car. Manufacturers certify that the car has passed all the essential inspection and also provide an extended warranty. This means you get a used car which is almost new and that too for a lesser price.

But be wary of dealers who issue their own brands of certification. When compared to manufacturer/factory certification, they seem to be a charade. This is so because you will be charged higher for the certification and there won’t be much significant difference than a non-certified car.

When the dealer offers you a price, you must compare it with the market value. You can use the Kelly Blue Book value. The company is a pioneer in providing authentic information about car pricing and information. This will ensure that you are not paying more than its real value.

CRITERIA

When you decide to avail auto loans, your lending company will want you to fulfill certain criteria. So when you choose a car, make sure it does fulfill them.

Three to five years old cars are excellent when it comes to car loans. Your car shouldn’t be older than 8 years. If it’s older than that, there is no point in buying a car that goes the way of dinosaurs.

Your car shouldn’t be driven for more than 65,000 miles. The lenders set a limit to determine whether the car is too old or not. Generally, a car more than 65,000 miles means the car is used for more time and its value has also depreciated.

Few lenders would also want you to have a stable job and a constant place of residence. You should be going for the same job for approximately 3 years. The same is required for your residence. Your income is also considered when you buy an auto loan.

Your credit score is also important as it shows your credit history and details about your debts and payments. A credit score less than 540 indicates that you will be paying higher interest rates.

Purchasing a car is an important decision. So, it is necessary that you accurately decide on the car and the lender. You can make use of the internet to search for lending companies. Do compare car loan quotes and select someone who offers you comfortable loan terms.

Hope you soon get a car of your own. All the best!

RapidCarLoans.net provides car loans at reasonable rates. We specialize in providing loans for used cars. Visit www.rapidcarloans.net to know more about the wide range of loans that we offer.

Be the first to comment - What do you think?  Posted by carloantypes - September 27, 2011 at 6:14 am

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How to Get Approved for Used Car Refinancing?

Lots of people are unaware about the process of refinancing auto loans. Car refinancing can be of great deal in saving a huge amount of money. Refinancing can be done even for used car loans. This is not restricted only to new cars and vehicles. Are you going through a series of economic troubles and find it very difficult to repay the loan amount? Have you started to defaulting monthly payments continually in the past? This is the right time to think about refinancing used car loan as your savior. What are you waiting for? Think and act. Go ahead and explore your opportunities.

There are several reasons attributed on why the borrowers might want to refinance their used car loans. Some of the commonly attributed reasons are

1 Not able to repay the existing monthly payments

2. The monthly payments can be huge and leave a hole in your pocket every month

3. The terms and conditions of the existing used car loan are not flexible

4. The interest rates on the existing loan are very high

5. The borrower might want to save some money in the long run and divert that funds for other expenditure

The reasons are many and it will go on. However, the above said reasons are some of the commonly happening ones. It is clearly understood that refinancing used car loans is purely to save money in the long run. It will help you to get relieved from the financial burden and clutches.

It is important to understand that when the borrowers opt for refinancing at earlier stages, they can certainly save more money than expected. One factor to consider while applying for automobile refinancing the used car loan is that make sure the value of the car is higher than the loan amount quoted. Understand that the lenders have all the rights to seize the car if the loan amount is not repaid properly. One more important factor is that having a bad credit will make the task of refinancing completely impossible. Take some time to pay off the monthly payments promptly with the existing lender and gain some credibility. Approach another lender after building up the credit rating.

Whom should I approach?

There are several lenders and banks ready to offer these kinds of car loans. Even the existing lender will be in a better position to help the borrowers in getting a refinance of used car loans. There are several websites available presenting complete information about the lenders offering these kinds of loans. The internet can be of great help in choosing the lenders and the information present will help the borrowers to make wise decisions in picking up the lenders. Comparisons and reviews will educate the borrowers on several aspects.

Be the first to comment - What do you think?  Posted by carloantypes - August 3, 2011 at 7:31 am

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