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Online automobile financing companies aim to get you affordable car loan for either new or used cars. All auto loans program are designed considering all credit types, so it doesn't matter if you have bad credit, no credit, poor credit or bankruptc

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Creation: 31/05/2010 09:56
Update: 13/12/2010 12:03
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bandu2 : menu_arrow.gif Article: Some Facts About No Money Down or Zero Down Auto Loans - 06/07/2010 12:11

The down payment plays a vital role when qualifying for a car loan, especially if you have less than perfect credit. The student borrowers or borrowers with low income, often due to inadequate finance, do not wish to utilize their own cash as a down payment. But many people carry this myth that cash is the only form of down payment. There are few other options of paying zero down which are discussed in the upcoming Para. Well, quite a lot of car dealers and financial institutes can offer zero down auto loans regardless of your credit history, however you may have to pay higher rates. In addition to that you may not get your favorable terms while the chances of being ripped-off are more and so it’s more of gambling.

One way of the best ways, if you have a car to trade-in is using a combination of trade-in and car loan with no money down. Whereby, you need to trade-in your used car and have the appraised value of the old vehicle deducted from the price of the new car. Most of the new or used car financing companies allow considering trade value as down payment to meet the minimum criteria of money down. Thus, becomes beneficial for both the car dealer and the borrower.

For Instance: If you wish to buy a car for $12000 with no down and have a trade-in worth $100. However, you are required to put down $1000 on the selling price as per the financing terms. So, what the dealer will do is, raise the selling price to $13000 and show that you put down $1100 since the trade value is $100. Whereby, your net purchase price comes to 11,900 i.e. $12000 minus $100 from trade in. Thus your purchase price remains the same as it would have been if the dealer sold the car at $12000 and gave $100 as trade-in.

In this way, it can help you to secure auto loans for bad credit or no credit history and zero down. Moreover, it can give you flexible terms with lower rates. If the car you are trading is not paid in full, that is the only time you need to either go with other options or make a down payment.

Another option you get if you don't have a car to trade or the car you are thinking to trade in is not fully paid is new car rebate where many auto loan lenders allow considering the new car rebates as down payment. These rebates are offer by the lender to help that car buyers meet their minimum required down payment.

There are financing companies offering auto loan programs with zero money down and if you have a vehicle to trade in or buy a new car with a rebate you are most likely get more favorable terms from lenders with lower rates. However, its advisable to put at least 20% money down as there are chance of being upside down or having negative equity where you owe more than the car's worth, if the value of the car depreciate. For the reason, by paying no money down you are starting with zero equity in the vehicle.

Guaranteed auto loan is an assured way of hassle free car financing and within no time you can get your car regardless of bad credit history. People in low income group or students who have just started with their job, do not have enough cash to pay down payment and thus often face difficulty getting a car loan. For them offers a no money down auto loan which helps you finance your car with zero down.

bandu2 : menu_arrow.gif Article: Auto Title Loans - How to Get Cash Loan on Title of Your Car? - 15/07/2010 09:59

There is not a single individual who would probably expect an uncertain condition in the near future. However, it happens with many individuals. Many are left with no option but to take loans to meet the emergency requirements. People might even have a bad credit score but that cannot stop them from getting new loans. In this situation auto title loans can be savior. There loans also known as auto pawn loan or pink slip loans are offered on the title of your car which can get you quick cash immediately. The good news is that borrowers need not tell the reason to obtain such a loan to the lenders. If you have a car, then all your emergency requirements can be easily dealt with it.

Even an individual with bad credit can secure a car cash loan easily as all that matter is the car title. If you have a free and clear title the entire process is hassle free and loans can be easily obtained in minutes. A single click on the mouse is adequate to get the loans. The online application forms have to be filled in as the first procedure. Once the loan gets processed, the borrowers can avail the loan in less than 24 hours. The lender will usually demand some documents for the completion of the process. The borrowers are requested to have their proof of income and the insurance proof ready. A driver’s license is a mandatory requirement along with a phone bill or any other utility bills. The documents of the car have to be kept ready. The auto financing lenders usually do not demand your vehicle as collateral. However, the documents have to be submitted.

The amount borrowed and the interest rate is highly dependent on the current market value of the vehicle. The borrower should have a valid checking account being a citizen of US. It is important to read the fine print before inking the deal. The borrowers have to be careful about the rate of interest which should not go beyond 3% per month. This amounts to 36% annual interest rate beyond which is tough to repay.

The borrower must be aware of the late payment charges and other fees to be paid while processing the loans. The first job is to make a good amount of research on the internet about the lenders. Pick out the top 3 or 4 lenders from your list. You can then proceed to fill out their online application form. You must make sure that the lenders do not charge for filling out the form and asking for a quote. Upon doing this, you will be contacted by the lenders who will discuss the financial requirements. Make sure that you get the deal that fits your requirements in all ways. Getting auto loan for car title is a good way to meet all the emergency requirements.

bandu2 : menu_arrow.gif Article: Used Car Loans for College Students - The Best Deal - 08/10/2010 10:14

Are you a college student and keen to get a car for yourself? Is it the first time you will be buying the car? It is difficult for a college goer to purchase a car given he has no monthly stable income. Even if you are working part time, your salary may not be enough to meet both your education expenses and financing your car.

Having a car at your disposal has somehow become the necessity of life especially for college students. Well, go ahead and decide on the car you wish to drive. And if you find that the new car you were looking for is way out of your affordability, do not be disheartened. You can try to find a used car of the same make. The choice of college students to buy a brand new car or to get a used car depends entirely on their financial strength. And it is not much cause of worry because the lenders are now willing to finance them, be it a new auto loan or a used auto loan. The best deal about these loans is that you can buy a good quality car in good condition at reasonable rates.

The college students should try to avoid SUVs as they may end up eating into the income as a fortune will need to be spent on the gas. So, do a little research before deciding on your choice and try to get in touch with a reliable car dealer and not anyone around the corner running your way with attractive auto loan offers. If you are trying for pre- approved auto loan, go for pre approved used car loan. Also try to get the best deals for the car. When buying a used car, remember to get the VIN or the vehicle identification number and check its service history.

When a college student applies for used car auto loans, he or she can encounter a mixture of responses. While lack of credit score can be a hinder to get that used auto loan approved, and lack of option of down payment may not make the dealer happy enough. But if you search hard enough then you will find that there are lenders who wish to cater to auto loans for college students. These lenders readily offer college students with the options of no down payment or flexible down payments at cheaper rates. Flexible down payments can range between six months to one year and monthly payments on the used car loans can be calculated accordingly. Furthermore, low rates of interest work in favor of the college student when applying for the used vehicle loan.

It is the responsibility of the college student to calculate the loan amount required by him/her with accuracy and then apply for the most suitable used student car loans available. The student shall however keep in mind the additional costs like insurance, repairs, etc that may come up eventually. You can enjoy your ride only when you give sincere efforts and got your maths correct enough to be confident that you can pay off the used car loan in time along with the interest.

bandu2 : menu_arrow.gif Article: Is Finding a Bad Credit Car Loan a Tedious Task? - 08/10/2010 10:16

Most people considered it to be a cumbersome process and an impossible task. Bad credit means the borrower might have little or no credit history in the past and it might be due to several reasons. Buying a new car is not only for people with good credit rating and who can support their dream with the help of their independent wealth. However, every individual has the right to get an auto loan and the lenders believe in this. There are many financial lenders who have got a tie up with manufacturers to offer loans at cheaper interest rates and also to people with lower credit rates. Bad credit car loan offers you the luxury to have your own car.

With bad credit car loans, the financial lenders would not evaluate the credit status of borrowers. However, the lenders might demand a collateral for the money offered as loan. This is a good way to secure the loan as the newly bought car itself can act as collateral. The borrower can have several advantages on using such a scheme.

>> The borrower need not pay any amount as down payment.

>> The borrower can get lower interest rates as he is providing collateral

>> The borrower need not provide or submit any other documents as collateral

>> The process will get over in a hassle free manner and they can own the car absolutely

>> By paying the loan amounts promptly, they can improve their credit ratings

Did you ever give a thought of reaping these many advantages in getting a bad credit auto loan? If not, here is a good chance to enjoy all the benefits offered by the dealers and manufacturers. The interest amount could be further lowered by paying good down payment. The required amount will be approved to the borrower and he is free to make his own choice in buying the new car. It is important for the borrowers to discuss about other terms and conditions to ensure that there are no hidden charges and other fee amount.

However, car financing for bad credit rates will not be considered for very long terms. They will be treated on par with personal loans and if the borrower is unable to repay the loan amount, the financier will not hesitate to take away the car. Hence, it is important to fix the monthly payments accordingly. It is highly recommended for the borrowers to choose a flexible monthly payments such that he can recover easily even if slips to pay one or two months. Under such conditions, it is better to fix up with a long term loan.

The above said procedure can be a golden opportunity for you to obtain a car loan and to drive your dream car without any hassle. Financial lenders are waiting to help you drive your car. Make the best of this opportunity.