Auto Loan Shopping Tips 101

March 10, 2012 · Posted in Cars · Comment 

Bad Credit Car Loansare so easy, a Caveman can do it!

If you or someone you know is in the market for a bad credit auto loan, your first step should be to get a copy of your credit report. Be sure to see if everything on the your credit report is actually accurate. There may be a good chance that you may find in-accurate information was reported on the report. If you do find a few errors, and you do not begin the process of disputing those items, you may be placed with a lender for your auto loan that is considered to be a “Sub-Prime Lender” rather than a “Prime Lender”, who in most cases will give you a higher interest rate and terms on the car loan.

When applying for bad credit car loans, try and get a report with your credit score if possible. For some time in the past, credit scores were only available to prospective lenders, who in turn used them to make credit decisions for those looking for loans. Now credit scores are available for consumers who want to see their score before shopping for a loan. Your score can be retrieved online from each of the three main credit bureaus: Equifax, Trans Union and Experian. If you have any kind of credit problems, it may be important to find out before you shop. Getting an accurate credit score and overall picture of your credit history will in the long run help you negotiate a better deal when shopping for a car loan online.

Another thing to remember when looking for a car loan is that you dont always have to get a loan through a dealerships finance department. Dealers make money off of every loan they get approved, as a result, if they do get you a bad credit car loan, it will most likely wind up costing you more money than if you shopped around for a loan by yourself. What you would try and do is secure a loan before you go to the dealerships to buy. This will save you a ton of money in the long run, if its possible.

Start searching around. Auto loan rates will be different from dealer to dealer so don’t be in a rush and jump on the first deal your offered if you dont have to. Credit unions are also a great place to look at. For many years in the past, credit unions used to only lend to people with good credit, now that has changed and people with some credit problems can also get auto loans this way. It’s getting easier and easier!

But don’t get me wrong, car dealer do offer a great service that can save you a lot of time shopping around, if you don’t have time to shop. They make the auto loan process quick and painless if you decide to apply through the dealership. It just may wind up costing you some money in the long run. They offer the convenience of dealing with a variety of different lenders and can get you an approval in practically seconds with todays technology. Remember, convenience is something you pay for in this day and age!

Learn more about Bad Credit Auto Financing. Stop by Frank A. Williams Jr.’s site where you can find out all about Auto Loan Quotes Online and what they can do for you.

Are You Looking For Cheap Car Loan Financing Online?

October 9, 2011 · Posted in Cars · Comment 

With the current economical downturn, many of has have found ourselves cutting back on the lifestyle that we use to enjoy. Seeing that we no longer have the luxury of going out and applying for a ridiculous number of loans, it has become quite difficult to get any sort of loan financing. With the current economical downturn and many of us finding ourselves under piles of debt, it isn’t something that a car loan finance company would be ideally looking for.

With the revolution in Information Technology and higher bandwidth of internet connections, several people are attracted to Internet every day. In fact, there are million dollar worth companies that do business only through Internet. This is why several conventional car loan finance companies turned into auto loans online services. But there are many private auto loans online companies that do business only through internet and they are easy to deal with. Availing car loan can be very easy or harder based on your credit history. If you have a bad credit record, it is very difficult for you to get your loan approved from banks.

This is where private auto loan quote companies have an edge. You can cut short time taking procedures and they sanction your loan within fifteen minutes if you have every necessary document. When you relies these car loan finance companies, prepare yourself to pay higher interest rates. Most of the companies will have several other charges associated with loan processing and their closing charges can be heavy. It is not wise simply approaching a car loan finance company because they have a lower interest rate displayed. They still can levy huge amount from you in other ways such as processing fee, possession charges and closing fee.

It is advisable to get complete information from these auto loans online sources till the time of closure of loan. This is the only accurate way to tell which car loan finance is cheaper than other. Since there are many companies offer online car loan services there are chances of scam. Make sure that you are dealing with a company that has good user feedback. Read about different companies online and evaluate their services. Bad customer assistance can be stressful for you, especially when you are dealing with a lot of money.

What you have to realise about auto loans online is that even though they may be offering you a cheap interest rate, some of these auto loans online are known to be scams. For this reason it is important that you take your time researching various auto loans online before you decide to make a commitment. There are various third party sites that you can refer to whom are known to review various auto loans online. The good thing about these reviews on car loans online is the fact that they offer you a true and fair view of the service that they have to offer. There are no catches as they have nothing to gain. If you are looking for auto loans online we advise that you take a bit of time to surf the market. Even though there are many auto loans online to choose from, only a few are worth the money.

Everyone has a need of bad credit car financingoptions every once in a while. Some people need them now; some will need them some time in the future. The best option is to find an auto loan online with a reputable company like DrCarloan.com.