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CAR LOAN RATES » Auto Loan News

Posted in Auto Loans

With the overstock of car inventories, government tax incentives and generally low interest rates, the time to buy a new car has never been better. Before jumping off your couch and running to your favorite manufacturer to scoop up some bargains, it is important that you are aware of your consumer rights when it comes to auto loans as it could save you money!

In general, consumers with good credit should expect their auto loan rates to be somewhere in the 6% range. As always, the higher your credit score, the lower the interest rate you will be entitled to. The rates not only fluctuate because of your history, but because of the state of the vehicle purchase, the size of the loan and the overall terms of the loan agreement. Depending on who you are and what you do, there may be special circumstance you need to be aware of to get the most affordable auto loan out there.

African Americans need to be especially cautious when shopping for an auto loan. According to theConsumer Federation of America (CFA), that demographic pays an average of 15% interest on a car loan. It is an unfortunate and unfair reality, but those who are fearful of the unjust treatment should shop for their auto loans online with sites like Go Banking Rates as opposed to shopping at the dealer. Online you will solely be judged on your merit and this tip applies to anyone who is fearful of getting charged too much unnecessarily.

Military personal may be entitled to lower interest rates on their car loans because of their enlistment. If you are a service person, it is important to check for military loans, as they will probably offer the best deals out there. Plus, military loans are a bit more flexible as far as not requiring a fixed address or allowing a longer repayment schedule as they understand the special needs of that demographic.

Recent college graduates may also be entitled to deals and incentives that require special attention. Many car manufacturers have special promotions specially targeting new entrants to the work force. With all the student loans you probably have amassed any amount of cash-back, low interest or other type of deal can certainly help out in the long run.


Posted in Auto Loans, Pre-Approved Auto Loans

Before you set foot into a dealer, you should check your credit score, take any steps to correct it and then comparison shop for the best auto loan rates available. By taking the time to explore such websites as Go Banking Rates, you can easily find and then secure an auto loan for your purchase.

Consumer advocates and financial experts both advise that consumers who are in the process of car shopping need to treat the act of buying a car and securing an auto loan as two completely separate transactions. The bottom line is, by doing the advance legwork to secure an auto loan before going to the dealer, you will not be bullied into using their costly financing and will have more negotiating power regarding the actual sales price of the car in question. Your car loan rates will most certainly be lower by securing it before a car purchase.

Buying a new (or even used) vehicle is an exciting rite of passage for any adult, regardless of their age. It is important that when purchasing your car you thoroughly research your vehicle to see if it will meet with your needs and ultimately fit in your budget. Feel free to research your car purchase as much as you like, but putting equal, if not great attention into securing an appropriate auto loan is of great importance.


Posted in Auto Loans, Economy, Financial News

General motors bankrupt

With auto industry powerhouse GM facing bankruptcy,car owners are shaking in fear about the vehicles they own . It's pretty normal tofeel some concern whenone of the Big 3 hits rock bottom; however, experts are saying there's nothing to worry about just yet.

Why Are People Feeling Afraid?
The...



Read Full Article: GM Bankrupt: What Could Happen to Your Car?

Posted in Auto Loans, Economy, Financial News

Despite what promises you may have heard about how closing dealerships will not affect you, dealership service will suffer . 1,124 GM dealerships will be closing, along with 789 Chrysler dealerships. Although they are fighting to stay open, many will in fact be closed by next year as a part of...



Read Full Article: How Closing Dealerships Will Affect You

Posted in Auto Loans

Sometimes, comparing auto loans is more challenging than actually securing them; however, the process doesn't have to be impossible . There are actually some easy ways to go about comparing auto loans , which in turn can make buying a car simple. It's just a matter of making equal comparisons...



Read Full Article: Best Way to Compare Auto Loans

Posted in Auto Loans, Economy, Financial News, Mortgage Rates

Secretary of Treasury Timothy Geithner spoke before Congress about the condition of the economy, stating that he believes the market has shown signs of healing . The financial system has deleveraged itself much more than before, and banks are conservatively adding much needed capital. There were...



Read Full Article: Treasury Secretary Sees Signs of Healing

Posted in Auto Loans

Saving money is chic! More people can be found bragging about the money they saved these days than how much they overpaid for items. If you want to earn bragging rights associated with purchasing a brand new car, there are some simple behaviors and steps you can follow to help ensure you get the...



Read Full Article: How to Car Shop like a Pro

Posted in Auto Loans, Lenders

Taking out an auto loan without feeling under-confident is a rarity, especially for the first-time borrower, which is why it's great to be armed with questions to ask lenders before paying a visit. Luckily, you've reached the right place to find those questions. So let's take a look at some...



Read Full Article: Questions for Auto Lenders

If you have a low credit score , you may be worried about the repercussions you'll have to face from a bad credit auto loan; however, you may be able to make a seemingly bad situation good. In other words, obtaining an auto loan with bad credit doesn't always have to be negative. Let's look at...



Read Full Article: Good Way to Get a Bad Credit Loan

Posted in Auto Loans, Loans, Mortgage Rates

Taking out multiple loans simultaneously is not so common an occurrence for those who are looking for big money; however, if your starting your life fresh, you may be thinking to apply for the car loan and mortgage loan together . If this is an option you've been considering, you first want to...



Read Full Article: Applying for Mortgage and Car Loan

Car Loan Information

Types of Car Loans

Before you begin shopping for a car, it is important to know what auto financing qualifications you meet. Typically, auto loan rates are calculated based on the type of car you want to buy and your credit history. Additionally, you can get financing directly from a bank or have the dealer finance your auto loan.

Auto Loan Rates FAQs

Finding an auto loan brings up a lot of questions. Here's some of the questions we receive most often about car financing and auto loan rates:

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