Car Loan Guide

Car Loans Tougher To Get

admin — Tue, 27 May 2008 02:41:39 +0000

The trouble that banks have experienced with bad mortgages is now bleeding into auto finance, and it is getting tougher to get a car loan. Sales of new cars will be down to around 15 million this year, compared with 16.5 million last year. This will represent the worst year in the industry since 1995. This is directly related to tougher financing standards. Leading auto lenders such as Chase, GMAC and Capital One are pulling back on their willingness to lend and many applicants are being turned away, unable to purchase a car.

Now more than ever, shopping around for a car loan is important.

A Post from RateZip.com's: Auto Loan Rate Guide

Behind on Car Loan Payments and Want to Trade in?

admin — Sat, 23 Feb 2008 17:13:12 +0000

If you have fallen behind on your car loan payments, you are not the first person in the world to do so. Sometimes this happens when circumstances of life change, and often the original car is no longer ideal, complicating matters further when you go to trade in.

It doesn’t matter if you are behind on your payments, you can always trade one vehicle for another, but you will encounter some issues: first, you may owe more money on the old car than it is worth plus any fees for late payments. Plus, the interest rate may have increased because you were late.

Your best bet initially is to try to call the lender to help you get current on your payments and reduce your interest rate back to normal. If not, you may want to contact another car loan lender to see if they will refinance your loan to a lower rate.

A Post from RateZip.com's: Auto Loan Rate Guide

Bad Credit Loans Leading to Record Number of Repos

admin — Fri, 15 Feb 2008 00:44:21 +0000

It is expected that there will be a 10% increase in car reposessions, this on top of a 10% increase in reposessions last year. At fault many see the super-easy to qualify for car loans that have been offered in past years.

Auction and repo lots have been growing in inventory signficantly, and lenders have started to crack down on loans to borrowers with very poor credit, no verifiable income or no downpayment.

A Post from RateZip.com's: Auto Loan Rate Guide

Getting a Car Loan before a Car Auction

admin — Fri, 08 Feb 2008 02:45:35 +0000

Auctions are one of the smartest places to buy a used cars. You can almost always get vehicles at much lower prices than you would at a dealership or through a private sale. If you don’t have the cash to pay for the car in full at the auction, you’ll need to come prepared with a pre-approved car loan.

Often the auctions themselves will promote auto finance companies that are eager to lend money to auction buyers, but such financing on site is usually not the best deal. Smart consumers will shop for the terms of their auto loan in advance and obtain a lender preapproval, which they can take in hand to the auction.

Search RateZip to find car loans before you head out to the auction. Speak to the lender of your choice and come to the auction pre-approved!

A Post from RateZip.com's: Auto Loan Rate Guide

Welcome to RateZip Car Loan Guide

admin — Thu, 29 Nov 2007 23:43:31 +0000

We know that dealers rarely offer you the best deals when it comes to auto finance, so count on us to highlight some of the best deals and rates for auto loans here, as a compliment to the RateZip interest rate search engine.

A Post from RateZip.com's: Auto Loan Rate Guide