CAR LOAN RATES » Auto Loan News

When buying a car, especially in the midst of challenging economic times, it’s a good idea to create a budget that reflects a manageable percentage of income. This budget can be different depending on how much you make, as well as how many additional disposable assets you have.

How to Track Your Budget

One great way to make sure that you stay on track when buying a car is to create a budget that includes all of your transportation expenses. These expenses might include your auto loan payments, insurance payments, fuel expenses, maintenance and repairs, taxes and licensing, parking expenses (if applicable), and/or public transportation.

You love your brother as you do all family, but he has a less then perfect past with responsibility. After years of hard work and dedication, he has finally settled into a positive groove with a secure job, growth potential, a lovely new wife and a new sense of financial responsibility. Unfortunately, his credit history shows the damage of his past choices and he is now requesting your assistance co-signing a car loan.

Your first reaction may be to agree, but you should understand you leave your own credit open to potential risk in this situation. Before making the decision to co-sign on a loan for anyone, weigh the advantages and disadvantages of co-signing an auto loan thoughtfully first.

There is a  possibility that if you apply for an auto refinance loan for a car of a certain age or mileage, it will be turned down. However, there are times that the same scenario might result differently. If you’re looking to refinance a car that has seen better days, you may want to read into how to get an auto refinance loan:

Usually, when a loan company looks at financing a car, it takes into consideration:

There are a lot of used auto loan financing options out there, which leads potential car buyers to wonder if banks are the best places to get used auto loans. Depending on your personal situation, a bank may be best; however, there may be other suitable ways to get your hands on the used car loan rate you need.

Credit Unions Loans

Abilene Telco Credit Union has already been offering members some of the lowest car loan rates possible, but now you can knock off an extra .25 percent off the interest if you meet certain qualifications. This means you could obtain an auto loan rate as low as 3.74% APR.

Only members are eligible for car financing with this credit union. Loans must be for a new or used vehicle with a 60-month term and monthly payments must be at least $20. Interest rates are subject to credit approval. In order to qualify for the extra .25 percent discount you must refer a new member, open a checking account or refinance a loan from another bank or credit union.

If you’re looking for a used vehicle with an auto loan rate that won’t cost you an arm and a leg to pay each month, you may have been recommended a long-term used car loan. There’s no doubt that a 72-month (6 years) or 84-month (7 years) loan would help stretch out those payments, but essentially, this type of loan can often work against you.

Since long-term used auto loans are looked down upon, why is it something you might consider? And if you would consider it, how can you get your hands on one without getting burned by high interest rates? Here are a few tips to think about …

Don’t pay more for your new car than you have to. Make your next vehicle purchase affordable with car financing from Credit Union 1. This credit union has a limited-time offer for a new car loan interest rate as low as 2.99% APR.

This rate applies to members only applying for new car loans with terms up to 60 months. The rate is subject to credit approval and may change at any time.

If you’re looking for auto loan quotes that you can actually afford, you may have already searched tirelessly to no avail; but the good news is that there are places to find good quotes. You just have to know where to look. Of course, if you’ve spent minutes, hours, or even days searching then you’re probably feeling lost and frustrated. But don’t stress anymore. Help has arrived!

Find the Best Auto Loan Quotes:

You’ve probably heard about auto refinancing floating around from friends, family, or even loan experts. But you may not be aware of the pros and cons of taking on this action. So if you’re considering going through with auto loan refinancing because you need money, it’s good to learn what these pros and cons are before diving in. Let’s look at the pros and cons of having an auto loan refinance:

Pros of an Auto Loan Refinance:

There are so many options to choose from when deciding on a new car purchase: Automatic or standard? Red, green or blue? SUV or sedan? Additional questions you may have could even relate to the type of loan you choose and whether an add-on auto loan is a smart option or not.

How Add On Auto Loans Work