Thursday, November 7, 2013

Low Rate Car Loans – Grab one before they become History

U.S. debt is making everyone uncomfortable. Don’t think that it’s just a pain for Washington. Every American in the street is going to get affected if the government doesn’t come up with a permanent solution.  If the government defaults, investors will lose confidence in America and will start asking for higher rates on bonds. This will push rates higher and your car loan will also become expensive.

So, if you are planning to buy a car in the near future, buy it now. The rates may go higher in the next year. It is quite understandable that making a car purchase quickly is difficult. But, with this car loan guide, you can plan you auto financing program. It’s time to take the benefit of low rates before they become extinct.

Plan your Car Loan today for it may be too late tomorrow

Buying a car is not building castles in air. It is about making meticulous plans and achieving your goal of low rates. To get affordable rates you must:

Be Financial Wise

A low rate auto loan requires you to be financially stable. Lenders will offer you lower-than-usual rates when you are capable of making regular payments. So, you must decide on your capacity of making payments. Prepare a budget. Calculate the total expenses and income sources in future. It will help you in ascertaining an affordable monthly payment.

Also, keep aside money for down payment. Making a down payment lowers the loan amount and ensures the lender of your financial capacity. It will aid you in getting low rate car financing options.

Judge your Score

When you don’t know your credit score, you end up ruining it more. This is because you may apply with a traditional lender/bank for a car loan with bad credit. Most of them don’t offer auto loans to people with credit issues and past bankruptcies. Your credit score will get unnecessary hits and will reduce further.  So, get your credit score before applying for a car loan.

Where to apply with your Credit Score?

Based on the credit score range given below, choose a lender/auto financing program. You can go online or ask you friends for recommendation. But, remember that the lender must be reputed and trustworthy.

330 - 619: Poor Credit Auto Lenders and Online Auto Financing Companies
620 - 659: Sub-prime Car Financing Program
660 - 751+: Any Bank, Credit Union and Car Loans Website.

Knowing where to apply for a low rate auto financing program as it increases the chances of approval. So, make sure that you submit your car loan request to a lender who will cater to your needs.

So, this is how you can prepare yourself for a low rate car loan program. Don’t waste time in contemplating your automobile purchase. It’s advantageous to make a purchase now than in future.

Monday, November 4, 2013

Used Car Loans – Tips for getting Quick Approval in Ohio

Experian Automotive’s analysis of 2nd quarter provides a useful insight in the world of auto financing. From the total car buyers, 84.5% of consumers opted for car loans to buy an automobile. This is because of easy approval criteria, simplified car loan process and reduced rates. Lenders are offering large number of auto loan approvals for new cars and used cars in Ohio. If you have been waiting to buy a car, it’s time to buy it.

How to take Advantage of the Current Auto Financing Market?

Even though, Ohio auto loans are available at reduced rates, you still have to make payments on it. And, you can make easy payments only when you can afford the total loan cost. How to reduce the loan cost? Well, opt for a used car loan in Ohio. It’s simple to avail a used car loan even with bad credit history. It’s because Ohioan lenders have no problem in providing approval on an auto loan of lesser amount.

Instant Approval on Used Car Loans in Ohio – Save Time, Get a Car Now!

Today, cars have become a necessity in the Birthplace of Aviation. And, it’s important that you get the opportunity to buy a car quickly and easily. Even though online auto financing companies have simplified the Ohio used car loan process, it’s extremely important to follow the tips mentioned in this article. These easy tips will help you buy a reliable used car instantly.

Checking your Credit Score

It is crucial for every Ohio car buyer to check the credit score and credit report before starting any loan process. When you analyze your credit report, check for errors. Report the mistakes to the respective credit bureaus and get them removed. It will help you in improving your credit score. This way there will not be any chance of getting higher rates because of errors on your report.

Dealing with Down Payment

Even if you are buying a used car in Ohio, it’s important that you get together money for down payment. A 10% down payment on a used car won’t be much and will be very easy to manage. Also, it will establish your credibility and ensure instant approval.

If you are having trouble making cash down payment, you can go for trade-ins. Exchange your old car for your current car purchase. The dealer will deduct the value of your car from the total cost of the purchase. It will work like a down payment and you won’t even have to pay for it.

Choosing the Car

You must choose the car after getting an Ohio used car loan. This is important because few lenders insist on buying a car from a specific dealer. If you have already chosen a car from a different dealer, your efforts will go vain. So, make sure that you get approved for a car loan first.

These are quick tips to help you get approved for used car loan instantly. So, next time you begin car loan shopping in Ohio, remember them and your auto financing journey will be easy.