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Finding Auto Loans for a Home Design or Staging Business

Posted on Sep 18, 2012 by Thalia Green
Sep 18

Designing a home or providing staging services as a growing company often requires the purchase of a van or similar vehicle to transport furniture, artwork and other design elements for the space. Before looking for an appropriate vehicle, finding financing solutions is a necessity for the continued growth of the company.

Obtain Credit Information

Business owners need a copy of the company credit report and a personal credit report before seeking an auto loan. According to CarsDirect.com, verifying the information in a credit report and disputing inaccurate data is important before seeking funds. If information is inaccurate, then it can lower the score and result in a denied loan.

Personal credit may or may not be necessary, depending on the auto loan and the amount of time since the company was established. Newer businesses will often need the owner’s credit information due to the limited information available on the company.

Read the Paperwork

Lenders are required to provide information relating to the loan. According to the Federal Trade Commission, the Truth in Lending Act requires full disclosure of details relating to the interest rate, terms, conditions and monthly charges on the loan.

Finding the right lender for the loan requires comparing the details. The contract will fully disclose all of the information and ensures the interest rate and payment plan is appropriate for the company budget.

Buying a van or truck to transport furniture and goods for a home staging or design company requires financing solutions. With a great credit rating and comparison shopping, it is possible to find an appropriate loan for the business.

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Choosing the Right Repayment Term for Your Auto Loan

Posted on Sep 07, 2012 by Thalia Green
Sep 07

When you go to apply for an auto loan, one of the questions your lender will ask is how long you want the repayment term to be. The repayment term affects two major factors: your monthly payment and your total interest cost. Before you visit the lender, learn the benefits of longer and shorter repayment terms.

 

Benefits of a Longer Repayment Term

  • Lower monthly payment because payments are stretched out over a longer time frame, which can help alleviate strain on your cash flow and live on a balanced budget
  • Making payments on the auto loan will provide you with more years of credit history, which can help you boost your score and get better rates on loans in the future

 

Benefits of a Shorter Repayment Term

  • Finish paying off the auto loan sooner, which makes that portion of your monthly income available for other purposes, like paying down debt or saving for a down payment
  • Pay less total money in interest because you are paying down the principal balance of your loan faster than you would be on a longer repayment term
  • Gain equity in your vehicle faster, which helps you avoid being underwater on your auto loan when you get your next vehicle

 

Choosing a repayment term isn't a decision you should jump into without understanding the implications of your choice. There are advantages to longer and shorter terms, so choose the length that works best for your needs.

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Brief outline of guaranteed car loans

Posted on Nov 21, 2011 by Thalia Green
Nov 21

If you are among those who are financially challenged, the most affordable strategy to purchase a car is by getting a car loan. This platform provides you with an opportunity to come up with a budget and make flexible repayments of the loan. Those who have just graduated from college and need a car should not despair since there are guaranteed car loans available from several lenders. However, in order to get a good deal on your car loan, below is some useful information that you should keep in mind.

 

Credit history

People with high credit scores stand a good chance of getting low interest car loans. It is also possible to improve your credit rating by taking a car loan. As you make you repayments, your credit ratings go up and this ensures that you have a good credit history which you may need in future.

 

Online lenders

The best way to make comparisons of the different offers available in the market is to use the internet. There are a myriad of online lenders who offer different terms and conditions for the car loans. It is possible to get online quotations very promptly. Armed with the information from different lenders, it becomes easy to make a choice.

 

It is important to appreciate the efforts that online lenders make in ensuring that the approval process is very fast. You can have your car loan approved and processed within two business days. The pace is amazing which gives online lenders a competitive edge over the traditional lenders such as banks and credit unions that have got a vigorous and slow approval process.

 

• Determine your financial ability

Every car loan applicant should have an idea of how much money that he or she can comfortably repay. Many people have found themselves in trouble by taking loans that are beyond their ability to repay.

 

By selecting a car that is not too costly, you stand a chance of lowering the interest rate on your car loan. 

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Tips on how to get cheap car loans

Posted on Nov 17, 2011 by Thalia Green
Nov 17

A car is not intended to have life expectancy. People often change cars for various reasons. With this kind of trend, there is an increasing demand for car financing. Many people with financing needs are not aware of where they can get the cheap car loans. The best approach is not to take the first car loan that you are offered. Take time to carry out research and make comparisons of the different offers available in the market. It is worth noting that there are a myriad of auto loan issuers online who are ready to provide interested eligible applicants with the amount of money required for their car loan. However, the main difference with the companies is that they offer different rates of interest on the loans which makes it beneficial to make comparisons before making the final decision.

Below are some tips that you can use to identify a cheap car loan:

 

• Do intense research

The advantage that those interested in securing car loans have is the fact that there are several companies willing to offer them with credit as long as they meet the basic requirements. This market is actually controlled by the buyer who has a choice to refuse any other kinds of offers. The best approach is to collect information on the different offers in the market and then make the necessary comparisons. Since each financial institution is run independently, the rates of interest and other fees tend to differ.

 

• Keeping a good credit rating

With a good credit score, it is possible to negotiate for lower rates of interest. The credit bureaus are in a position to provide you with your credit report. In case of any controversy, it is best to address it with the relevant bodies before applying for a loan. Ensure that you adhere to your loan repayments in order to maintain a healthy credit rating.

 

Note that, the lower cash that you borrow, the lower the rate of interest. Therefore, save up some funds and then top up the remaining small balance with a loan and you will benefit from getting lower interest rates. 

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Information on car loans and credit score

Posted on Nov 10, 2011 by Thalia Green
Nov 10

Those looking at acquiring a new car may probably be concerned about their credit scores. This is because; one’s credit rating is an important factor that is considered during the loan approval process. With the current economic turbulence, it is only natural for many people to lag behind in paying some of their bills. Previously, a large percentage of the lenders would only approve car loans for those with very high credit scores of six hundred points and above. However, times have changed since the lenders are also dealing with business challenges such as increased competition and the adverse effects of the economic recession.

 

The interest rates on the car loans offered in the past were quite high. In this day and age, those who have a credit score of above four hundred and eighty usually get reasonable interest rates. There are several online lenders who are ready to approve car loans very promptly as long as the applicants meet the basic requirements. It is possible for one to get more than one offer from lenders who are ready to issue out these loans. However, do not be too quick to jump in to the first boat that comes along; take time to do some research. It is also worth mentioning that loan approval for people with bad credit is also possible today. Surprisingly, the approval process for such loans is also very fast.

 

Competition in the auto industry has compelled the players and stakeholders to work together in a bid to lower the average credit score needed for approval of a bad credit low interest loan. The lenders have reduced on the credit score expectations with the aim of making car loans accessible to more people.

 

It is very simple to identify a car loan lender online. This is because there are many sites that issue this service. However, one should ensure that he or she deals with a well renown company since there are those that are out to take advantage of innocent applicants. 

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Steps to Putting a Down Payment Together

Posted on Oct 28, 2011 by Thalia Green
Oct 28

In most cases, when you are applying for an auto loan with bad credit or an auto loan with no credit, you'll need to make a down payment. If you don't have the money in savings, it may seem like an insurmountable obstacle. However there are many ways that you can put the money together that you need to get your next car.

 

Sell some stuff.
You might be surprised at what people are willing to buy! The truth is just about anything can be sold, provided that you pick the right price, and the right audience. Clothes, knick-knacks, toys, kitchenware, outdoor gear, and many other items are great possibilities for making a little extra money. If you're crafty, you could also repurpose or update older items to make them more appealing for potential buyers. Get inspiration from one of the numerous crafting blogs on the web.

 

Cut unnecessary expenses.
There might be more "fat" in your budget than you realize! If you dine out at restaurants, frequent coffee shops, or go out to the movies, you have room to trim the budget. Think about ways that you could cut your expenses temporarily to help you grow your down payment next egg.

 

Take a second job.
It will mean sacrificing your free time temporarily, but you could also take a second job on the evenings or weekends. There are a number of ways you can make money from home. Google "work at home jobs blog" to find some options. It's important to note that you should never pay someone for the privilege of working for them. Anyone who says you need to pay to get work is not a legitimate offer, with the possible exception of the occasional background check fee.

 

Remember that you'll only need to sacrifice your time and resources temporarily, and that the end will justify the means. When you get discouraged, keep your end goal in site. Imagine how great you'll feel driving in your new or new-to-you car! 

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Buying Your First Car

Posted on Oct 18, 2011 by Thalia Green
Oct 18

If you're a student in college and ready to buy your first car, you may be surprised to know that many dealers are eager to do business with college students, even if they have limited credit or no credit. Here are some things to think about if you are planning on buying a car.

 

New or Used?
When you buy a car you should have some idea as to how long you plan on keeping it. There are definitely benefits to buying a new car if you a college student. Many dealers offer special car loans for students, which can make it very affordable. In addition, a new car means that there is less likelihood of needing to pay for repairs with the car. If you are planning on keeping the car for several years, getting a new car might be the way to go. On the other hand, buying used means that you can often get a great deal, as the car has already taken its biggest depreciation hit. Financing for students is also available for used cars, through your local financial institution.

 

Do some research
Just as you would research a subject for a term paper, it's also important to research the car you will be buying. You should begin your search by deciding on the make and model. Reviews from websites such as Consumer Reports can help you determine which car will be right for you. You'll also want to consider the year the car was built, as sometimes the design of a car can vary greatly from year to year.

 

Get a checkup
Once you have determined the type of car you want and found a dealer or seller, you should take the car to a local mechanic so they can look it over and let you know about any possible problems. This step is necessary for used cars only. If the mechanic finds any issues, you should attempt to negotiate with the seller to either get them fixed or to adjust the price accordingly.

 

Because you'll be using your car every day for at least the next couple years, you should not take this purchase lightly. Do your homework and you'll be sure to get a great deal. 

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Steps In The Car Buying Process

Posted on Oct 10, 2011 by Thalia Green
Oct 10

Buying a carThinking about buying your first car? If you're new to the car buying process you might be a bit worried about what you can expect. Here is a suggested process to follow when buying a car.

 

Step 1: Look at your budget (or, make a budget if you don't have one.)
Before you even head to the car lot, you'll need to do some homework to make sure you can afford the car payment. If you don't already have a budget, now is the time to create one. List all of your income at the top, followed by all your expenses. Everything you spend money on during the course of an average month should be included, even "fun" expenses like money for evenings out or your morning coffee. You may find it helpful to also journal all of your expenses for a month or two, if you're not really sure where your money goes.

 

Step 2: Research the car.
Once you have an idea of your budget, the next step is to research your car. Keep in mind how you will be using the car, how many people on average will be travelling with you, and what features are important to you. Remember that when you budget for your car, you'll need to not only allot money for the car loan payments, but you'll also need to budget for gas and regular maintenance, such as oil changes.

 

Step 3: Shop for the car loan.
Now that you have an idea of what kind of car you want, and what price you can afford, you should begin shopping for car loans. Most dealers have onsite financial departments, but by no means is this your only option. You may also find options for financing through your local bank or credit union. Interest rates can vary greatly among lenders, so it's worth it to shop around and get a few different options for your car loan.

 

Step 4: Visit the car lot.
You might be surprised at the amount of research that should be done before going to the car lot, but this is so that you get the best deal possible. Car salesmen are quite good at turning car buying into an emotional process. By doing your homework in advance, you'll be able to lead with your head rather than your heart.

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Financing a Car Purchased On Ebay

Posted on Oct 05, 2011 by Thalia Green
Oct 05

Ebay is quickly becoming a popular source for used cars. If you are comfortable shopping on Ebay, you might also enjoy shopping for your next car on Ebay as well. However, many car buyers wonder if it is possible to finance a car purchased on Ebay? The answer is not only is it possible, but there is more than one way to do so. In this article we will discuss some of the ways you can finance your car if you purchase through Ebay.

 

Ebay Motors Financing Center
To respond to the demand created by customers, Ebay has created the Ebay Motors Financing Center. This allows the auction winner to finance the car. The Financing Center does not handle the loans directly; they take the information provided by the customer and match them up with a lender, who then collects the payments. This service is available on a variety of vehicles, including cars, trucks, SUV's, and even less traditional vehicles such as boats and snowmobiles. A wealth of information about Ebay's financing is available on the website; be sure to review it so that you know how this option works.

 

Financial Institutions
Of course, just because you purchase the car through Ebay does not mean that you need to get your financing through Ebay. You do have the option to set up financing through a bank or credit union. Depending on your relationship with the bank and your credit history, you might find that your bank can give you a better rate than Ebay's Financing Center. If you choose to go with this option, you would either have the bank wire the money to the vehicle seller, or you would send them a cashier's check via certified mail.

 

Private Financing Through The Seller
If you are buying a car through a larger seller, you may find that the seller is willing to negotiate financing with you directly. If this option is available, you may find that it's worthwhile to do so, depending on the rate that is offered.

 

Although most purchases on Ebay are done via cash or credit card, there are definitely financing options available for those who wish to buy their next car off of Ebay. Be sure to shop around and see what options are available to you. It's hard to say who will give you the best deal, but it is always a good idea to get quotes from two or three sources before you decide who to use for your car loan. 

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Is refinancing right for you?

Posted on Oct 03, 2011 by Thalia Green
Oct 03 There's a certain satisfaction that people get when they know they've gotten a great deal. If you've ever gotten a clothing item or appliance at a steep discount, you are no doubt familiar with the feeling of euphoria that follows acquiring such a purchase. However, you rarely have a second chance to get a good deal once the transaction has been made. Refinancing, however, is an exception to this rule.

 

Refinancing is a hot topic these days. Depending on the size of your car loan, even an interest rate deduction of a couple percentage points can mean a savings of a few thousand dollars! Refinancing is attractive to many, but the motivations are diverse. Here are some reasons that people consider refinancing.

 

Paying off debt faster.
With little promise of the economy getting better in the forseeable future, people are becoming more committed to reducing their debt. Getting debt under control means independence; no matter what may come, you have 100% ownership of your items that you have no debt on. This is true whether it is your television, your car, or your home! If you want to pay off debt faster, refinancing your car is one way to do that. A reduction in your interest rate can free up additional money to attack other debt and get it under control.

 

From leasing to buying.
At the end of a lease, many customers make the decision to buy. Banks or credit unions can be quite helpful in refinancing the loan, which will allow the lessor to approach the dealer as a cash buyer.

 

Buyer's remorse.
Finding out that you paid too much for a car can be a humiliating experience, but there are solutions to this problem. If you have good credit, a bank or other financial institution can be quite helpful in bringing the interest rate under control. They take over the loan, get new business, and you get a lower rate. It's a winning proposition for both buyer and lender.

 

If you are thinking about financing a new or used car, Carloans.com can help wade through the various options and give you the best offers available for your situation. A loan advisor is assigned to each customer, and they help determine which lenders would be most beneficial. Regardless of your motivations, the end result is the same. You save thousands of dollars, and have the satisfaction of knowing you made a smart decision. 

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