when applying for an auto loan
you are like most people, when you purchase a car,
you have to apply for a loan. Most of us don't have
the cash to pay for the car. Boy, would that be nice!
you applying for a car loan?
Then review and follow these auto loan tips before
around for the best APR (annual percentage rate).
This is the actual interest rate you will pay over
the course of one year on the balance of your loan.
if there are penalties for early payoff.
the fine print for "hidden charges"
could be buried there.
your credit score before you apply for an auto
loan. Your score will determine whether you qualify
for a loan and more importantly, what your interest
rate will be. The higher the score the lower your
rate. Find out
how to improve your credit score before you get
an auto loan.
any mistakes on your credit report. It is very
common for mistakes to appear on credit reports. There
is no need to be penalized for mistakes so make sure
to review your credit report for errors and follow
these steps to fix your credit report.
your paperwork in order. You will need to provide
your name, address, social security number, employment
information, whether you own or rent, the amount of
your rent or mortgage, credit card info (card numbers
to make as much of a deposit as you can. The lower
the balance you will finance, the lower your interest
payments will be over the life of the loan.
the factory-to-dealer incentives can help you
negotiate a lower price, helping to reduce your car
loan. This is when the car manufacturer refunds a
percentage of the car's price to the dealer. The dealer
can sell a car at invoice and make money because they
get a percentage back from the dealer. This is public
information and help with your negotiations. The single
best site for this type of helpful knowledge is Edmunds.com
- Here is
an auto loan tip that really me in my most recent
car purchase: I got pre-approved financing from
1-800 AutoYes. I was able to apply for my auto
loan online and the approval process was quick and
easy. Nothing helped my negotiations more than walking
into the car dealership with a check in hand for $30,000
with a great interest rate! They couldn't beat the
rate that I got! Get
your auto loan NOW - FREE 60 Second application
with 1-800 AutoYes.