CAR LOAN RATES » Auto Loan News

If something sounds too good to be true then it probably is, especially when it comes to auto loans. Whether you get your auto loan through a financing officer directly at a dealership or through an independent financial institution, it will be a binding contract once signed. As with any contract, you need to take the time to read the fine print on your auto loan so you understand all the terms.

What you find in the fine print of an auto loan will depend on what type of deal is being promoted or advertised. Federal regulations require an honest and upfront process of disclosure for auto loan contracts. If you are considering a normal auto loan not based on any promotions or advertisements, it's still important that you review the fine print of the contract for all the details.

When reading the fine print of auto loan terms at a dealership, you must pay attention to the small details that can cause big problems. Dealer auto loans may look great on paper, but extended loan periods, huge down payments, balloon payments and administrative fees may be hidden in the fine print. Dont ever succumb to the pressure of signing a document before reading all the details. You can also avoid bait-and-switch scams and other tricks that can cause you to pay more for the life of your loan.

When it comes to refinancing auto loans, many consumers are surprised to find out that it is possible for them to qualify for refinancing on a car.When most people hear the word "refinance," they usually assume it refers only to refinancing a mortgage. They are often pleasantly surprised that they can take advantage of low interest rates and speed up the time it takes to repay their auto loan by refinancing their car, as well.

How does auto refinancing work? If you already understand how to refinance your home, then that should give you a pretty good idea of how refinancing an auto loan works, too. Basically, the process of refinancing an auto loan is pretty much the same: you apply for a new loan from a lender who will furnish you with a lower interest rate than you are getting on your current auto loan. If you are approved for the loan, you will then use the money from the new lower interest rate loan to pay off your current auto loan with the high interest rate.

There are some differences between refinancing your home and refinancing your auto loan. The good news is, you will not have to get an appraisal on your auto the way you would for your house, where the value of the loan is based on the equity in your home. The amount you get for an auto refinance loan is entirely based on how much it will take to pay off the auto loan you already have. However, the bank will only finance up to the amount that your car is worth. If you owe more on the car than the Kelly Blue Book value, you will need to pay down your loan before you can qualify for auto loan refinancing.

Many banks and credit unions, and even credit card companies, offer good terms on auto loan refinancing, and you can shop online for the best rates on auto loan refinancing. Compare different lenders before choosing the best auto loan refinancing rate for you.

You've probably seen the advertisements on television from auto dealerships who claim to be able to work with any buyer to get an auto loan, regardless of your credit history. "Bad credit or no credit, as long as you have a job, we can get you a guaranteed auto loan!" This seems to be the motto...

When you get ready to purchase a vehicle, typically, the auto loan that you apply for is what is called a secured loan. What this means is that the bank, dealership or financial institution is using your car as collateral for the loan. The automobile secures your credit with the bank or...

Pentagon Federal Credit Union is offering 3.99% APR financing on new and used vehicles.

With credit becoming more difficult to secure at low rates, good auto loans will be increasingly hard to come by.

Have you come across any better deals?

When you apply for your auto loan, as with any other loan, you will be requested to supply certain documentation that proves that you are a good credit risk and have the financial ability to repay the loan . Your credit score, along with the documentation you supply, will be factored into the...

So youve gotten your new car home from the dealership. Youre quite pleased with yourself because youve negotiated low monthly payments, and even though the taxes and warranty set you back, you feel youve made a sweet deal on a new car. Then your friend asks, how much are you paying in interest...

Taking advantage of auto loan refinancing is an attractive option for many consumers, since refinancing an auto loan allows you to pay a lower interest rate on your car loan, and may also speed up the amount of time it takes to pay off the full balance of your loan . But some question remains as...

The simplest way to understand the term capitalized cost reduction also sometimes called "cap cost reduction is as a down payment on your leased vehicle. When you buy a car, you make a down payment to reduce the amount still due on the auto loan. Similarly, when you lease a car, any cash down...

Perhaps a sales event is happening at a dealership and you are able to negotiate a great deal on your dream car. If you close the deal, you can drive away in it today. Theres only one little problem: you dont have 20% for the down payment. You do, however, have a credit card in your pocket and...