Vehicle finance loans
Tuesday, August 7, 2007
Vehicle Finance Loans
GPS Vehicle Tracking Systems: Do I Need One?
By Ken Sink
GPS vehicle tracking systems are more affordable and more
popular than ever before, but do you need one? Take this short
quiz and keep track of your 'yes' answers. I’ll help you total
your score and decide after you finish.
Step One: Take Quiz
1. Do I use vehicles in my business? Yes/No
(The definition of 'vehicles' includes heavy, medium and
light-duty vehicles, construction equipment (dozers, graders,
backhoes, etc), cars, motorcycles, RV's, pick-up trucks, vans,
tractor trailers, buses, trailers, dump trucks, snow plows,
limousines, taxis, etc.)
2. Have any of my vehicles been stolen in the past? Yes/No
3. I'd like to know what is going on and where my
employees/vehicles are during the day: Yes/No
4. I'd like to reduce my fuel expenses and know if any of my
vehicles are wasting gas: Yes/No
5. Being able to give my customers accurate and precise
arrival/delivery estimates is important to me: Yes/No
6. It is important to know if any of my vehicles are used after
hours or on weekends for non-business purposes: Yes/No
7. I'd like save up to 30% on my vehicle insurance: Yes/No
8. It is important to know if my employees are speeding or
otherwise abusing my vehicles: Yes/No
9. If any of my employees are using my vehicles to 'moonlight'
or do work without my knowledge, I'd want to know: Yes/No
10. Knowing about mechanical problems before they become
expensive to fix is important: Yes/No
11. If any of my vehicles are ever stolen, I'd like to locate
them within minutes: Yes/No
12. I'd like to have vehicle use data to compare with overtime
requests as a way to guard against errors and fraud: Yes/No
13. I'd like a reminder when it is time to do routine
maintenance on my vehicles: Yes/No
14. Occasionally, customers question when we were at their
location, having the exact date and time recorded in our
tracking system would really help in those cases: Yes/No
15. I'd like to help my employees be more productive by seeing
where they go each day: Yes/No
Step Two: Total Your ‘Yes’ Answers
Add up your 'yes' answers.
* Fewer than 7 'yes' answers:Thanks for taking the quiz, you
don't appear to want/need a vehicle tracking system.
* 7 to 11 'yes' answers: Thanks for taking the quiz. You could
greatly benefit from a vehicle tracking system.
* More than 11 'yes' answers: Thanks for taking the quiz. You
need a vehicle tracking system.
By the way, every question above (except question 1 & 2) is
answered by using GPS vehicle tracking systems.
Step Three: Cost vs. Gain
The average business owner recoups their investment in GPS
vehicle tracking systems within 6 – 12 months after purchase. Of
course, your ROI may vary. Recovering one stolen vehicle may pay
for your entire tracking system.
Vehicle tracking helps you reduce operating costs and boosts
productivity.
Tracking systems reduce vehicle costs by putting a spotlight on
speeding employees, who waste fuel, cause excessive engine wear
and drive up insurance rates. Vehicle tracking systems will also
remind you when it’s time for preventive maintenance, like oil
changes, helping you keep your vehicles on the road and making
you money.
GPS vehicle tracking systems improve productivity by:
* documenting long lunch hours,
* exposing unauthorized breaks,
* comparing driver overtime requests with system reports of
driver activity,
* highlighting unauthorized vehicle use after hours and on
weekends,
* eliminating driver logs.
Many insurance companies offer discounts of up to 30% for
vehicles protected with tracking systems.
Step Four: Due Diligence
GPS vehicle tracking systems are outstanding tools for vehicle
and fleet management, but you need to find the right system for
you. Take a look at the different types of GPS vehicle tracking
systems.
Check a company’s hardware and software, as well as their
monthly data access plan. You’ll also need to decide whether to
buy or lease your GPS tracking system.
Good luck.
About the Author: Ken Sink, owner of My Vehicle WatchDog, is a
veteran with 20+ years of transportation experience, including
fleet management of over 800 vehicles. Visit
http://www.MyVehicleWatchDog.Info for more information about GPS
vehicle tracking systems from Fleet Management Solutions,
Networkfleet and Sprint/Nextel.
Source: http://www.isnare.com
By Ken Sink
GPS vehicle tracking systems are more affordable and more
popular than ever before, but do you need one? Take this short
quiz and keep track of your 'yes' answers. I’ll help you total
your score and decide after you finish.
Step One: Take Quiz
1. Do I use vehicles in my business? Yes/No
(The definition of 'vehicles' includes heavy, medium and
light-duty vehicles, construction equipment (dozers, graders,
backhoes, etc), cars, motorcycles, RV's, pick-up trucks, vans,
tractor trailers, buses, trailers, dump trucks, snow plows,
limousines, taxis, etc.)
2. Have any of my vehicles been stolen in the past? Yes/No
3. I'd like to know what is going on and where my
employees/vehicles are during the day: Yes/No
4. I'd like to reduce my fuel expenses and know if any of my
vehicles are wasting gas: Yes/No
5. Being able to give my customers accurate and precise
arrival/delivery estimates is important to me: Yes/No
6. It is important to know if any of my vehicles are used after
hours or on weekends for non-business purposes: Yes/No
7. I'd like save up to 30% on my vehicle insurance: Yes/No
8. It is important to know if my employees are speeding or
otherwise abusing my vehicles: Yes/No
9. If any of my employees are using my vehicles to 'moonlight'
or do work without my knowledge, I'd want to know: Yes/No
10. Knowing about mechanical problems before they become
expensive to fix is important: Yes/No
11. If any of my vehicles are ever stolen, I'd like to locate
them within minutes: Yes/No
12. I'd like to have vehicle use data to compare with overtime
requests as a way to guard against errors and fraud: Yes/No
13. I'd like a reminder when it is time to do routine
maintenance on my vehicles: Yes/No
14. Occasionally, customers question when we were at their
location, having the exact date and time recorded in our
tracking system would really help in those cases: Yes/No
15. I'd like to help my employees be more productive by seeing
where they go each day: Yes/No
Step Two: Total Your ‘Yes’ Answers
Add up your 'yes' answers.
* Fewer than 7 'yes' answers:Thanks for taking the quiz, you
don't appear to want/need a vehicle tracking system.
* 7 to 11 'yes' answers: Thanks for taking the quiz. You could
greatly benefit from a vehicle tracking system.
* More than 11 'yes' answers: Thanks for taking the quiz. You
need a vehicle tracking system.
By the way, every question above (except question 1 & 2) is
answered by using GPS vehicle tracking systems.
Step Three: Cost vs. Gain
The average business owner recoups their investment in GPS
vehicle tracking systems within 6 – 12 months after purchase. Of
course, your ROI may vary. Recovering one stolen vehicle may pay
for your entire tracking system.
Vehicle tracking helps you reduce operating costs and boosts
productivity.
Tracking systems reduce vehicle costs by putting a spotlight on
speeding employees, who waste fuel, cause excessive engine wear
and drive up insurance rates. Vehicle tracking systems will also
remind you when it’s time for preventive maintenance, like oil
changes, helping you keep your vehicles on the road and making
you money.
GPS vehicle tracking systems improve productivity by:
* documenting long lunch hours,
* exposing unauthorized breaks,
* comparing driver overtime requests with system reports of
driver activity,
* highlighting unauthorized vehicle use after hours and on
weekends,
* eliminating driver logs.
Many insurance companies offer discounts of up to 30% for
vehicles protected with tracking systems.
Step Four: Due Diligence
GPS vehicle tracking systems are outstanding tools for vehicle
and fleet management, but you need to find the right system for
you. Take a look at the different types of GPS vehicle tracking
systems.
Check a company’s hardware and software, as well as their
monthly data access plan. You’ll also need to decide whether to
buy or lease your GPS tracking system.
Good luck.
About the Author: Ken Sink, owner of My Vehicle WatchDog, is a
veteran with 20+ years of transportation experience, including
fleet management of over 800 vehicles. Visit
http://www.MyVehicleWatchDog.Info for more information about GPS
vehicle tracking systems from Fleet Management Solutions,
Networkfleet and Sprint/Nextel.
Source: http://www.isnare.com
Tuesday, July 31, 2007
Vehicle Finance Loans
Auto or Car Loan
By Terje Ellingsen
An auto or car loan is necessary for most people when they buy
a new or used vehicle. Shopping for a car loan can be done many
places today, including online. Many companies send you a check
for the loan amount and you can simply make this check payable
to the auto dealer or car seller. This is all you have to do to
get the keys to your new or used car.
There are some lending companies that are really doing their
best to offer you a great auto loan. Good lenders always have a
friendly and professional customer service, regardless of your
credit rating. Be aware though that the best rates are for
customers with a high credit score. Wherever you apply for a
loan, it is subject to credit approval, which means that your
credit rate will be checked.
Many companies offer an introductory annual percentage rate,
which are changed after 30 or 45 days. However, what you should
look for is the long term interest rate, because this is the
basis of comparisons between offers from different vehicle loan
lenders. You should choose the lender with the lowest annual
percentage interest rate, all other conditions equal.
Another thing to look for in addition to the interest rate is
if and which fees are associated with your auto loan. Many
credit companies add lots of different types of loan fees like
payment fees, annual fees, penalties, etc. These fees should
also be included in the basis you use for comparing lenders. If
the interest rate is low but are eaten up by layers of fees, you
have to look closer at the offer. In all circumstances it is the
total cost of the loan you should compare because this is what
you pay for it.
Once you submit your car loan application online, it will be
reviewed by the lending company and you will receive a response
within a few minutes during business hours. If you apply during
non-business hours, your loan application will normally be
processed the next business day. It's really easy to shop a car
loan on the internet.
About the Author: Terje Brooks Ellingsen is an internet
publisher. He runs the website
http://www.cheap-used-cars.w-eland.com Terje gives advice and
helps people with automotive and financial issues like car
loans, see
http://www.cheap-used-cars.w-eland.com/used_car_loans.htm and
car auctions online, see
http://www.cheap-used-cars.w-eland.com/used_car_auction.htm
Source: http://www.isnare.com
By Terje Ellingsen
An auto or car loan is necessary for most people when they buy
a new or used vehicle. Shopping for a car loan can be done many
places today, including online. Many companies send you a check
for the loan amount and you can simply make this check payable
to the auto dealer or car seller. This is all you have to do to
get the keys to your new or used car.
There are some lending companies that are really doing their
best to offer you a great auto loan. Good lenders always have a
friendly and professional customer service, regardless of your
credit rating. Be aware though that the best rates are for
customers with a high credit score. Wherever you apply for a
loan, it is subject to credit approval, which means that your
credit rate will be checked.
Many companies offer an introductory annual percentage rate,
which are changed after 30 or 45 days. However, what you should
look for is the long term interest rate, because this is the
basis of comparisons between offers from different vehicle loan
lenders. You should choose the lender with the lowest annual
percentage interest rate, all other conditions equal.
Another thing to look for in addition to the interest rate is
if and which fees are associated with your auto loan. Many
credit companies add lots of different types of loan fees like
payment fees, annual fees, penalties, etc. These fees should
also be included in the basis you use for comparing lenders. If
the interest rate is low but are eaten up by layers of fees, you
have to look closer at the offer. In all circumstances it is the
total cost of the loan you should compare because this is what
you pay for it.
Once you submit your car loan application online, it will be
reviewed by the lending company and you will receive a response
within a few minutes during business hours. If you apply during
non-business hours, your loan application will normally be
processed the next business day. It's really easy to shop a car
loan on the internet.
About the Author: Terje Brooks Ellingsen is an internet
publisher. He runs the website
http://www.cheap-used-cars.w-eland.com Terje gives advice and
helps people with automotive and financial issues like car
loans, see
http://www.cheap-used-cars.w-eland.com/used_car_loans.htm and
car auctions online, see
http://www.cheap-used-cars.w-eland.com/used_car_auction.htm
Source: http://www.isnare.com
Friday, July 27, 2007
Vehicle Finance Loans
Inexpensive Motor Vehicle Loans Based On Equity
By [http://ezinearticles.com/?expert=Kate_Ross]Kate Ross
Motor vehicle loans, being not so common, have little flexibility in terms of monthly installments’ amounts and thus, many think that if they can’t afford the monthly payments they can’t afford to purchase their dreamed vehicle. But truth is that there are other sources of finance with much better terms.
Motor Vehicle loans based on equity can provide you with all the finance you need and due to the benefits real estate equity provides you can obtain more advantageous loan terms than with regular motor vehicle loans whether they are secured or unsecured. Thus, if you need finance and can’t afford the monthly payments of regular motor vehicle loans, consider loans based on equity as an alternative.
Home Ownership Is A Must
Equity is the difference between the market price of a property and the amount of debt guaranteed by it. Motor Vehicles also have equity when a motor vehicle loan balance is lower than the market price of the vehicle. However, loans based on the available equity of a motor vehicle are not common and when we refer to loans based on equity we mean home equity.
Thus, in order to obtain loans for purchasing motor vehicles based on equity, you’ll need to be a home owner. This limits these loan niche a bit, but yet, those who qualify, can get real great terms on their loans and finance the purchase of their motor vehicles at a really low cost compared to unsecured motor vehicle loans and even to secured motor vehicle loans.
Benefits Of Loans Based On Equity
Loans based on equity carry many benefits compared to loans that are not secured. For starters, [http://www.yourloanservices.com/home-equity-loan-rate-line-refinancing.html]getting approved for a loan based on equity is a lot easier. There are fewer credit and income requirements for qualifying and you can also get significantly more advantageous terms on your motor vehicle loan this way.
The interest rates charged for loans based on equity are as low as half the rate of unsecured loan or even more. The repayment programs of these loans are significantly more flexible and you can extend them in order to obtain lower monthly payments so as to fit your budget. And last, but not least, these loans provide higher loan amounts which can let you purchase more expensive motor vehicles without having to resort to leasing contracts or other financial products that in the long run end up being more onerous.
The Cheap Financing Solution
Motor Vehicle Loans based on equity are the perfect solution that combines inexpensive financing with higher loan amounts, both characteristics that come very handy when you want to purchase a motor vehicle. In order to find a lender you can search for motor vehicle loans or home equity loans as not all motor vehicle lenders deal with loans secured with home equity. However, with home equity loans the money can be used for whatever purpose, including motor vehicle purchases.
---
Kate Ross is a professional consultant at [http://www.speedybadcreditloans.com]Speedybadcreditloans.com.
You can click [http://www.badcreditfinancialexperts.com/article/]here to read more useful articles on this and other financial issues.
Article Source: http://EzineArticles.com/?expert=Kate_Ross http://EzineArticles.com/?Inexpensive-Motor-Vehicle-Loans-Based-On-Equity&id=482882
By [http://ezinearticles.com/?expert=Kate_Ross]Kate Ross
Motor vehicle loans, being not so common, have little flexibility in terms of monthly installments’ amounts and thus, many think that if they can’t afford the monthly payments they can’t afford to purchase their dreamed vehicle. But truth is that there are other sources of finance with much better terms.
Motor Vehicle loans based on equity can provide you with all the finance you need and due to the benefits real estate equity provides you can obtain more advantageous loan terms than with regular motor vehicle loans whether they are secured or unsecured. Thus, if you need finance and can’t afford the monthly payments of regular motor vehicle loans, consider loans based on equity as an alternative.
Home Ownership Is A Must
Equity is the difference between the market price of a property and the amount of debt guaranteed by it. Motor Vehicles also have equity when a motor vehicle loan balance is lower than the market price of the vehicle. However, loans based on the available equity of a motor vehicle are not common and when we refer to loans based on equity we mean home equity.
Thus, in order to obtain loans for purchasing motor vehicles based on equity, you’ll need to be a home owner. This limits these loan niche a bit, but yet, those who qualify, can get real great terms on their loans and finance the purchase of their motor vehicles at a really low cost compared to unsecured motor vehicle loans and even to secured motor vehicle loans.
Benefits Of Loans Based On Equity
Loans based on equity carry many benefits compared to loans that are not secured. For starters, [http://www.yourloanservices.com/home-equity-loan-rate-line-refinancing.html]getting approved for a loan based on equity is a lot easier. There are fewer credit and income requirements for qualifying and you can also get significantly more advantageous terms on your motor vehicle loan this way.
The interest rates charged for loans based on equity are as low as half the rate of unsecured loan or even more. The repayment programs of these loans are significantly more flexible and you can extend them in order to obtain lower monthly payments so as to fit your budget. And last, but not least, these loans provide higher loan amounts which can let you purchase more expensive motor vehicles without having to resort to leasing contracts or other financial products that in the long run end up being more onerous.
The Cheap Financing Solution
Motor Vehicle Loans based on equity are the perfect solution that combines inexpensive financing with higher loan amounts, both characteristics that come very handy when you want to purchase a motor vehicle. In order to find a lender you can search for motor vehicle loans or home equity loans as not all motor vehicle lenders deal with loans secured with home equity. However, with home equity loans the money can be used for whatever purpose, including motor vehicle purchases.
---
Kate Ross is a professional consultant at [http://www.speedybadcreditloans.com]Speedybadcreditloans.com.
You can click [http://www.badcreditfinancialexperts.com/article/]here to read more useful articles on this and other financial issues.
Article Source: http://EzineArticles.com/?expert=Kate_Ross http://EzineArticles.com/?Inexpensive-Motor-Vehicle-Loans-Based-On-Equity&id=482882
Thursday, July 26, 2007
Vehicle Finance Loans
You Can Refinance Your Motor Vehicle Loan
By [http://ezinearticles.com/?expert=Mary_Wise]Mary Wise
Refinancing is an excellent option for escaping the high financial pressure that motor vehicle loan installments can imply. Thus, if you fear that you won’t be able to afford the monthly payments or that too many sacrifices must be made in order to do so, you should consider motor vehicle loan refinancing as a viable option to solve this problem.
Refinancing: The Concept
The concept of refinancing a loan is a very simple one. It basically consists on taking a loan in order to repay an outstanding loan. The new loan must feature different loan terms that in one way or another must provide advantages for the borrower. These advantages can be varied and not always consist on savings. In this case for example, the overall cost of the loan may be higher but the monthly payments will be lower so as to make the loan more affordable.
The money obtained from the new loan is used to fully cancel the previous loan and thus, the relation between the borrower and the first lender is extinguished. It is always possible to refinance with the same lender but it is highly unlikely. It is common however, to renegotiate the loan terms which is a form of refinancing but it seldom happens when the borrower is still repaying the loan as it usually happens only when negotiation is forced through a default on the loan repayment.
Usually when you take a new motor vehicle loan to refinance a previous one, the loan terms are not significantly modified. Chances are that you’ll have to agree on higher interests but lower payments by means of extending the [http://www.badcreditfinancialexperts.com/motor-vehicle-finance.html]loan repayment program. The new loan will be secured on the same vehicle as the previous loan will be canceled.
A Refinance Alternative
However, if you really want to benefit from refinancing and you have sufficient equity on your home, you can request a home equity loan instead of a motor vehicle loan. Home equity loans come with more advantageous loan terms and thus you won’t only be able to obtain more affordable payments but you’ll also be able to get further benefits.
Home equity loans come with lower interest rates, lower monthly payments, higher loan amounts, longer repayment programs, fewer fees, less insurance costs, etc. This implies that financing through home equity is in the long run a lot cheaper than resorting to other loan options and thus, by using a home equity loan, you can save thousands of dollars over the whole life of the loan.
With the money obtained from the home equity loan you can cancel the motor vehicle loan and any other debts that you may have. Thus, you could end up with a single and more affordable monthly payment that will bring a lot of ease to your financial life.
---
Mary Wise, a professional consultant at [http://www.badcreditloanservices.com]Badcreditloanservices.com with twenty years in the financial field, helps people in the process of securing personal loans, mortgage, refinance or consolidation loans and preventing consumers from falling into the hands of fraudulent lenders.
You will find more useful tips and interesting articles by clicking [http://www.badcreditfinancialexperts.com/article/]Here
Article Source: http://EzineArticles.com/?expert=Mary_Wise http://EzineArticles.com/?You-Can-Refinance-Your-Motor-Vehicle-Loan&id=416693
By [http://ezinearticles.com/?expert=Mary_Wise]Mary Wise
Refinancing is an excellent option for escaping the high financial pressure that motor vehicle loan installments can imply. Thus, if you fear that you won’t be able to afford the monthly payments or that too many sacrifices must be made in order to do so, you should consider motor vehicle loan refinancing as a viable option to solve this problem.
Refinancing: The Concept
The concept of refinancing a loan is a very simple one. It basically consists on taking a loan in order to repay an outstanding loan. The new loan must feature different loan terms that in one way or another must provide advantages for the borrower. These advantages can be varied and not always consist on savings. In this case for example, the overall cost of the loan may be higher but the monthly payments will be lower so as to make the loan more affordable.
The money obtained from the new loan is used to fully cancel the previous loan and thus, the relation between the borrower and the first lender is extinguished. It is always possible to refinance with the same lender but it is highly unlikely. It is common however, to renegotiate the loan terms which is a form of refinancing but it seldom happens when the borrower is still repaying the loan as it usually happens only when negotiation is forced through a default on the loan repayment.
Usually when you take a new motor vehicle loan to refinance a previous one, the loan terms are not significantly modified. Chances are that you’ll have to agree on higher interests but lower payments by means of extending the [http://www.badcreditfinancialexperts.com/motor-vehicle-finance.html]loan repayment program. The new loan will be secured on the same vehicle as the previous loan will be canceled.
A Refinance Alternative
However, if you really want to benefit from refinancing and you have sufficient equity on your home, you can request a home equity loan instead of a motor vehicle loan. Home equity loans come with more advantageous loan terms and thus you won’t only be able to obtain more affordable payments but you’ll also be able to get further benefits.
Home equity loans come with lower interest rates, lower monthly payments, higher loan amounts, longer repayment programs, fewer fees, less insurance costs, etc. This implies that financing through home equity is in the long run a lot cheaper than resorting to other loan options and thus, by using a home equity loan, you can save thousands of dollars over the whole life of the loan.
With the money obtained from the home equity loan you can cancel the motor vehicle loan and any other debts that you may have. Thus, you could end up with a single and more affordable monthly payment that will bring a lot of ease to your financial life.
---
Mary Wise, a professional consultant at [http://www.badcreditloanservices.com]Badcreditloanservices.com with twenty years in the financial field, helps people in the process of securing personal loans, mortgage, refinance or consolidation loans and preventing consumers from falling into the hands of fraudulent lenders.
You will find more useful tips and interesting articles by clicking [http://www.badcreditfinancialexperts.com/article/]Here
Article Source: http://EzineArticles.com/?expert=Mary_Wise http://EzineArticles.com/?You-Can-Refinance-Your-Motor-Vehicle-Loan&id=416693
Monday, July 23, 2007
Vehicle Finance Loans
Car Loans For People With Bad Credit – Advice On Getting A Bad
Credit Loan
By Carrie Reeder
Automobiles are easy to finance with adverse credit. In fact,
many consumers opt to get approve for an automobile loan in an
attempt to boost their credit rating. If financing a vehicle,
you have the option of securing your own private financing or
accepting a loan package offered by the dealership. Here are a
few tips to help you secure auto financing with bad credit.
Know Your Credit Rating Beforehand
Do not enter the car buying process blindly. Before beginning
your search for the perfect automobile, request a copy of your
free credit report. This way, you have an accurate picture of
your credit rating. If your score is high, you can expect a
good offer. Then again, if your credit is fair or bad, you may
not qualify for prime rates.
The best financing is usually offered to applicants with a
credit score of at least 720. To ensure a good rate on your new
or used auto loan, attempt to improve your credit rating. The
tactics for boosting credit scores are simple; however, a
significant increase will take time. To begin, submit payments
to creditors on time. Decrease and eliminate debts. If your
credit report contains errors, contact the credit bureaus to
get the matter resolved.
Loan Shopping for the Best Rates
Bad credit applicants can expect a typical auto loan rate of 8
to 9 percent. On the other hand, good credit applicants may
obtain rates as low as 1.9 percent. Before accepting a loan
with a high percentage, explore all loan options.
Dealerships will offer you a loan package. However, their offer
may not be the best. Do not immediately agree to dealer
financing. If you have poor credit, the dealership will likely
raise the final interest rate by one or two percentage points.
This tactic will increase their profit.
After you receive the dealership's offer, contact at least four
other auto loan lenders and request quotes. The quickest way to
obtain a bad credit auto loan quotes is online. Complete an
online quote request with an auto loan broker. These brokers
will match you with several reputable sub prime lenders. After
receiving and reviewing your request, lenders will make you an
offer. In some instances, brokers may offer better rates than
car dealerships.
About the Author: View our recommended lenders for
http://www.abcloanguide.com/badcreditcarloans.shtml or view all
of our http://www.abcloanguide.com/autoloans.shtml.
Source: http://www.isnare.com
Credit Loan
By Carrie Reeder
Automobiles are easy to finance with adverse credit. In fact,
many consumers opt to get approve for an automobile loan in an
attempt to boost their credit rating. If financing a vehicle,
you have the option of securing your own private financing or
accepting a loan package offered by the dealership. Here are a
few tips to help you secure auto financing with bad credit.
Know Your Credit Rating Beforehand
Do not enter the car buying process blindly. Before beginning
your search for the perfect automobile, request a copy of your
free credit report. This way, you have an accurate picture of
your credit rating. If your score is high, you can expect a
good offer. Then again, if your credit is fair or bad, you may
not qualify for prime rates.
The best financing is usually offered to applicants with a
credit score of at least 720. To ensure a good rate on your new
or used auto loan, attempt to improve your credit rating. The
tactics for boosting credit scores are simple; however, a
significant increase will take time. To begin, submit payments
to creditors on time. Decrease and eliminate debts. If your
credit report contains errors, contact the credit bureaus to
get the matter resolved.
Loan Shopping for the Best Rates
Bad credit applicants can expect a typical auto loan rate of 8
to 9 percent. On the other hand, good credit applicants may
obtain rates as low as 1.9 percent. Before accepting a loan
with a high percentage, explore all loan options.
Dealerships will offer you a loan package. However, their offer
may not be the best. Do not immediately agree to dealer
financing. If you have poor credit, the dealership will likely
raise the final interest rate by one or two percentage points.
This tactic will increase their profit.
After you receive the dealership's offer, contact at least four
other auto loan lenders and request quotes. The quickest way to
obtain a bad credit auto loan quotes is online. Complete an
online quote request with an auto loan broker. These brokers
will match you with several reputable sub prime lenders. After
receiving and reviewing your request, lenders will make you an
offer. In some instances, brokers may offer better rates than
car dealerships.
About the Author: View our recommended lenders for
http://www.abcloanguide.com/badcreditcarloans.shtml or view all
of our http://www.abcloanguide.com/autoloans.shtml.
Source: http://www.isnare.com
Friday, July 20, 2007
Vehicle Finance Loans
New Car Loans
By Eddie Tobey
Once you find your dream car, you will have to figure out how you can afford it. There are many financing options available, of which the new car loan is the most feasible.
When applying for a new car loan, the first thing to consider is your financial situation. Determine how much you can afford to pay each month, as car financing is a long-term proposition. Most of the new car loans run for five years, so you should be able to meet this financial obligation for five years.
Before actually settling on a new car loan, it is advisable to shop around and compare prices of the various loan companies. The dealer’s rate is not always the best rate. Get quotes from finance companies and banks, and then choose the company offering the best rate and terms for your new car loan. The dealer may add unnecessary things to your loan amount, like tow packages and undercoating. You should decline all this, as it just adds to the price of the car, and serves no other significant purpose. When getting a new car loan, it is better to pay as much of a down payment as possible, as this lowers the amount to be financed. This in turn lowers your monthly payments.
There are some advantages to new car loans, like lemon law coverage, factory support, and full warranties. There is also a possibility of receiving lower financing rates with new car loans. However, as new cars cost more, there is limited room for price negotiation, which leads to a larger loan amount. Taking out new car loans also makes you take the hit for depreciation.
Car Loans provides detailed information on Car Loans, Car Loan Calculators, Bad Credit Car Loans, Used Car Loans and more. Car Loans is affiliated with New Auto Loans.
Article Source: http://EzineArticles.com/?expert=Eddie_Tobey
http://EzineArticles.com/?New-Car-Loans&id=230594
By Eddie Tobey
Once you find your dream car, you will have to figure out how you can afford it. There are many financing options available, of which the new car loan is the most feasible.
When applying for a new car loan, the first thing to consider is your financial situation. Determine how much you can afford to pay each month, as car financing is a long-term proposition. Most of the new car loans run for five years, so you should be able to meet this financial obligation for five years.
Before actually settling on a new car loan, it is advisable to shop around and compare prices of the various loan companies. The dealer’s rate is not always the best rate. Get quotes from finance companies and banks, and then choose the company offering the best rate and terms for your new car loan. The dealer may add unnecessary things to your loan amount, like tow packages and undercoating. You should decline all this, as it just adds to the price of the car, and serves no other significant purpose. When getting a new car loan, it is better to pay as much of a down payment as possible, as this lowers the amount to be financed. This in turn lowers your monthly payments.
There are some advantages to new car loans, like lemon law coverage, factory support, and full warranties. There is also a possibility of receiving lower financing rates with new car loans. However, as new cars cost more, there is limited room for price negotiation, which leads to a larger loan amount. Taking out new car loans also makes you take the hit for depreciation.
Car Loans provides detailed information on Car Loans, Car Loan Calculators, Bad Credit Car Loans, Used Car Loans and more. Car Loans is affiliated with New Auto Loans.
Article Source: http://EzineArticles.com/?expert=Eddie_Tobey
http://EzineArticles.com/?New-Car-Loans&id=230594
Monday, July 16, 2007
Vehicle Finance Loans
Used Car Loans - 3 Tips For Financing Your Used Vehicle Online
By Carrie Reeder
Financing the purchase of a used vehicle can be done through
the convenience of online car loan lenders. Through their
websites you can request quotes, compare terms, and even apply
online. Online car loan lenders save you time and money by
making financing shopping easy. The following three tips will
ensure that you find the best financing for your vehicle
purchase.
1. Request Quotes
It is easy to compare rates online, but you really need to
request quotes to do real comparison. You should compare car
loans much like a mortgage. A difference as little as $17.00 a
month can save you over $1000 on a 60 month loan. Some lenders
charge fees, so watch for those. Sometimes small fees up front
will save you money through lower interest payments over the
course of your loan.
To find low rates consider using a car loan broker. They work
with several different lenders to bring you multiple offers to
choose from. You can also request quotes from individual lender
websites. With either type of site, you will receive your quote
instantly, enabling you to make a quick comparison.
2. Compare Terms
It is equally important to the compare terms of your car loan.
The longer loan term you choose, the more you will pay in
interest. However, longer loans also have smaller monthly
payments. You will also want to look at fees that may be
associated with early repayment or late payments.
Another factor to consider is increasing your down payment to
20% of the vehicle’s value. In some cases, this can qualify you
for a lower rate.
3. Get Prequalified
To gain added leverage in you car purchase get prequalified for
you car loan. By being prequalified, you get a blank check by
FedEx to go shopping with. You can use it to purchase a vehicle
from a dealership or individual.
In either case, you have the advantage as a cash buyer. There
is no question about your credit history, so there is the
incentive for the seller to close the deal. Take this advantage
by negotiating a lower price.
About the Author: Carrie Reeder is the owner of
http://www.abcloanguide.com, an informational website about
various types of loans. To view our list of recommended auto
finance companies online, visit this page:
http://www.abcloanguide.com/autoloans.shtml
Source: http://www.isnare.com
By Carrie Reeder
Financing the purchase of a used vehicle can be done through
the convenience of online car loan lenders. Through their
websites you can request quotes, compare terms, and even apply
online. Online car loan lenders save you time and money by
making financing shopping easy. The following three tips will
ensure that you find the best financing for your vehicle
purchase.
1. Request Quotes
It is easy to compare rates online, but you really need to
request quotes to do real comparison. You should compare car
loans much like a mortgage. A difference as little as $17.00 a
month can save you over $1000 on a 60 month loan. Some lenders
charge fees, so watch for those. Sometimes small fees up front
will save you money through lower interest payments over the
course of your loan.
To find low rates consider using a car loan broker. They work
with several different lenders to bring you multiple offers to
choose from. You can also request quotes from individual lender
websites. With either type of site, you will receive your quote
instantly, enabling you to make a quick comparison.
2. Compare Terms
It is equally important to the compare terms of your car loan.
The longer loan term you choose, the more you will pay in
interest. However, longer loans also have smaller monthly
payments. You will also want to look at fees that may be
associated with early repayment or late payments.
Another factor to consider is increasing your down payment to
20% of the vehicle’s value. In some cases, this can qualify you
for a lower rate.
3. Get Prequalified
To gain added leverage in you car purchase get prequalified for
you car loan. By being prequalified, you get a blank check by
FedEx to go shopping with. You can use it to purchase a vehicle
from a dealership or individual.
In either case, you have the advantage as a cash buyer. There
is no question about your credit history, so there is the
incentive for the seller to close the deal. Take this advantage
by negotiating a lower price.
About the Author: Carrie Reeder is the owner of
http://www.abcloanguide.com, an informational website about
various types of loans. To view our list of recommended auto
finance companies online, visit this page:
http://www.abcloanguide.com/autoloans.shtml
Source: http://www.isnare.com
