|
Author: Joseph Kenny Article source: http://www.clearclicks.com/. Used with author's permission.
You've got your eye on that shiny new Lexus - okay, maybe it's a Kia, but it's perfect and you want it to be yours, all yours - as soon as possible. At the same time, you certainly don't want to be saddled with paying nearly double the car's value by the time you finish paying off the car loan. Here are five tips to help you get the best possible interest rate on an auto loan to put the car of your dreams in your driveway.
1. Check your credit rating.
If you don't already know what's in your credit report, this is a good time to find out. Before you apply for an auto loan, get a copy of your credit report to find out what surprises may be lurking in it. You may just find out that it contains erroneous information that should be corrected, or that there's something negative on it that can be either explained away or fixed easily with a couple of phone calls or letters. Either way, it always helps to know what the credit reporting agencies are saying about you before you start shopping around for a loan.
2. If you have good to excellent credit...
...then you may qualify for special incentive financing available through the car dealer. If the car dealer is offering a low, low finance rate, check all the terms and conditions carefully BEFOREHAND online to make sure that you qualify. Most often, that 1% financing rate is reserved for those who have excellent credit and can afford to do a 12 month financing plan. If that's you - then grab the deal. 1-2% financing is a bargain if you can handle the other terms and conditions attached.
3. If you need a longer term than 12 months or have spotty credit...
...arrange your financing yourself before setting foot on the car lot. Check with your usual bank for a new auto loan first, as they may have better interest rates for those who are already established customers, or who carry all their savings, checkings and loan accounts through one bank. It may save you a few percentage points in interest to do business with someone who already knows you.
4. Shop online for the best auto loan available.
At many online credit web sites, you can submit a request for multiple quotes from area finance agencies and lending firms. Simply submit your request for an auto loan quote through an online form, and the web site will submit it to up to four financing firms at once. A representative from each agency will contact you within a few hours to a day or two to discuss your request with you and give you a quote for an interest rate and monthly payment amount that they can offer you. Online shopping for credit makes it easy to compare and pick the best auto loan terms for you.
5. If your credit is bad but you need that car...
...one of your best and most often overlooked options is to find someone to cosign the loan for you. In most cases, when you have a cosigner, you'll get the interest rate that THEY qualify for, which means a lower monthly payment for you. Joseph Kenny is the webmaster of the loan information sites http://www.selectloans.co.uk/ and also http://www.ukpersonalloanstore.co.uk.
Focus Yields Results
Recently several people asked me why I enjoy my outdoor adventures so much. More specifically as my mother might ask me -- how can someone who is afraid of heig...
Know the Right Time for Conceiving with Free Fertility Calendar
Getting pregnant is a common problem that affects lots of couples, men and women who have been married for years and even though they have been trying to concei...
Hearing Our Seriously Distressed Adolescents
Understanding the emotional needs of adolescents.
How Senator Sarbaines and Oxley Destroyed America
You have probably heard of the Sarbaines Oxley Law (SOX) on corporate governance to make corporations totally transparent. And the voters and investors wanted t...
Designing a Comprehensive Franchise Company Computer System
One of the most important management tools a franchised company needs is a great computer system. The system must integrate with all the franchised outlets and ...
Article Marketing 202 -- Creating a Viral Lead-Generating Machine
There is a simple system for creating a viral lead-generating machine. You can follow this system whether you have been marketing for years or for one day. Th...
Taking Back Christmas
Some people would like to skip Christmas, but why not start a movement to take back Christmas from the commercialization and secularization? Here's how...
Information Security for E-businessmen: Just a Couple of Ideas
Unfortunately, businessmen frequently are targets for identity thieves, especially online. Software developers are doing their best to create new ...
Seven Ways to Set Yourself Apart From Other Affiliate Marketers
Okay so you've read (fill in the blank with internet guru's name here)'s book and decided that affiliate marketing is the way for you to earn some extra money o...
Confessions of a Personal Fitness Trainer
As your personal fitness trainer my passion is to teach, coach, understand, push, prod, cajole, investigate, research and apply, over and over… As a 'Fitness R...
Why Do We Feel Happiness?
Although we strive to be happy do any of us ever consider the purpose of having this emotion within us? Most just take it for granted and never really understan...
Three Things to Avoid When Buying a Home
Whether you're a first-time homeowner or moving on up the property ladder, home buying can be tricky. How do you draw the line between a money pit and a diamond...
Do Marketers Really Need RSS?
The recent Forrester Research study, which claims that only 2% of online households in North America use RSS, took the internet marketing world by storm. Does t...
Discover The 8 Steps To A Mountain Moving Faith
If you have faith as a grain of musterd seed you can say to this mountain: move! And it will move! And nothing will be impossible to you." You can transform y...
4 Simple Steps To A Successful Product
The key to a successful product is solving a common problem that many people are experiencing.
The Leadership Thought Provoker Checklist
Common everyday circumstances sometimes cause us to shoot from the hip. When dealing with employees when you are in a leadership role this can be dangerous. Stu...
How To Choose The Right Home Water Filters and Water Purifiers For Your Needs
When it comes to home water filters and water purifiers, consumers have many choices. You can choose from leading name brands such as Brita, Culligan, PUR, and ...
What Many PR Users Ignore
Simply that the behaviors of their most important outside audiences rank pretty low on their list of things to worry about. And this despite the reality that, p...
Quality Web Copy is the Key to Success
Having web copy that is well written can be essential to the success of your online business...
Adding City Names At The End Of Your Keywords Can Bring You More Profits
In recent times, I have been closely studying keywords that have famous city names at the end of them and what I have discovered is nothing short of amazing.
Two Great Forex Indicators: Bollinger Bands and Fibonacci Retracements
The learning and understanding of a number of indicators that will give you an invaluable help on predicting with high probability the directions the forex mark...
Network Security 101
Keeping your network secure is becoming increasingly important as the number of computer hackers continues to grow. This article gives the basics of Network Sec...
Leave Your Dead End Job…For Good!
So here you are…stuck in a dead end job. Are you hitting the glass ceiling in a job you once loved, but now can't stand? Maybe the hours are long. Maybe you can...
Home Hazards That Can Affect Our Pets
Is your home safe for your Furr Kids? It might surprise you to know how many hazards there are in a typical home for the pets we love.
|
Print this page