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Cheap_Car_Loans___Tips_On_Financing_A_Car

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					Title:
Cheap Car Loans – Tips On Financing A Car


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375


Summary:
Cheap car loans are essentially auto loans that consist of a low rate. For many people, this is a primary
concern. Low interest rates equal lower monthly payments. Hence, car buyers are able to afford more.
Individuals with a high credit score may qualify for a low rate auto loan. Yet, it is possible to obtain a good
rate with average or bad credit. Here are a few tips to help you secure a cheap car loan.


Monitor Your Credit Rating


Do not enter the car buying process bl...



Keywords:
car loan, auto loan, low interest rate



Article Body:
Cheap car loans are essentially auto loans that consist of a low rate. For many people, this is a primary
concern. Low interest rates equal lower monthly payments. Hence, car buyers are able to afford more.
Individuals with a high credit score may qualify for a low rate auto loan. Yet, it is possible to obtain a good
rate with average or bad credit. Here are a few tips to help you secure a cheap car loan.


Monitor Your Credit Rating


Do not enter the car buying process blindly. For the most part, anyone can qualify for a used or new car
loan. Automobiles secure the loan. Thus, if you default, the lender may repossess the car and resell it.
Nonetheless, having a few credit blemishes will result in a higher interest rate. Average car rates are about
6%. But, they can climb as high as 18%


If you are contemplating financing a new or used vehicle, check your credit beforehand. Raising your score
by twenty or thirty points make a major difference. Moreover, paying two percentage points more on a car
loan may increase your monthly payments by $50.


To get the lowest rate possible, improve your credit before applying for a loan. Simple tactics such as paying
down credit card balances, avoiding late payments, and limiting credit inquiries can increase your total
score. This is important because applicants with higher scores obtain better finance packages.
Establish Credit Beforehand or Get a Co-signer


Unfortunately, applicants with no credit history have a difficult time securing a low rate auto loan. To
determine credit worthiness, lenders must assess your credit history. If you do not have any previous
creditors, auto lenders are uncertain of your willingness to repay the loan.


To improve your odds of getting approved, attempt to get a credit card before applying for an auto loan. For
about six months, maintain regular payments and keep a low balance. When applying for an auto loan, your
credit report will reflect a good credit history, which may qualify you for a cheap car loan.


If you are in a hurry to obtain a loan, a co-signer may be able to help. To qualify for a cheap car loan, co-
signers must be at least 18-years-old and have good credit.




Credit Dispute Letter

				
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