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The Auto Loan Expert – The Key to buying a Car - RSS feed - Add to Google

Tue, Nov 29th - 4:20AM

3 Laws to follow for selling your Car in Indiana

Selling a car is a long process. Many a times, providing incorrect paperwork can lead to delays in the process. The major reason for providing incorrect paperwork stems from the unawareness of the laws. Indiana is the 38th largest state by area, amongst the 50 states of America. Additionally, in the year of 2009 the total number of registered automobiles in Indiana was 3.14 million. The numbers point towards the ever-increasing market for selling cars in Indiana. However, before you decide to get rid of your old car in the Hoosier State, make sure that you have proper knowledge of the laws prevalent in Indiana.

1. Provide Bill of Sale

Indiana Bill of Sale

It is a legal document that ensures proof of ownership. Typically, a bill of sale contains data such as the name of the buyer, purchase price of the car and its description. According to the laws of Indiana, you are required to provide the document while selling your car. Additionally, you need to fill in the details of the bill of sale in the Form 44237.

2. Disclosure of Condition of the Car

Provide Full Disclosure of the Condition of the Car

Mentioning the present condition of the car is an ethical way of selling it. The laws of Indiana emphasize on submitting a written application that discloses the condition of the car. It reveals if the car is salvaged or rebuilt. The law applies to cars manufactured in the last seven years. In case, you decide to withhold the information from the buyer, he is eligible to file a lawsuit against you to claim damages in the future. Thus, it is a good idea to provide adequate information to the buyer.

3. Provide the Car Title

Example of Indiana Car Title

A title certificate is an important document that is required for selling your car in Indiana. Without a title certificate, the process will stagnate. If your original title certificate is lost, stolen or broken, you can apply for a duplicate title for the car. You can obtain it from Indiana Bureau of Motor Vehicles. Once you have applied for a duplicate title, you are required to produce the following things:

1. Form 205 pertaining to the application of title registration,

2. A photo identity proof,

3. An amount of $8 fee which is payable to Indiana Bureau of Motor Vehicles.

Often while selling a car, we tend to forget the basic law requirements of the state. It can make the selling process difficult and lengthy. So, do not forget the laws prevalent in the state of Indiana and enjoy a comfortable process.

Are you interested in buying a new car? If you want to become a proud owner of a new car, do not wait till you get rid of your old car. Apply with CarDestination, the auto financing company that makes pre-approved car loans possible for everyone. Get in touch today for quick sub-prime car loans in Indiana State.


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Tue, Nov 22nd - 4:03AM

Military Auto Loans: What sets them apart from Regular Loans?

‘Freedom doesn’t come for free. It requires bravery and sacrifice.’

An individual serving in the military forces is a great hero of our nation. It is a matter of pride to serve the nation and be responsible for the millions of lives.

Auto Loans for Military Personnel

Individuals serving in military are appreciated for their extraordinary work but they too have ordinary needs such as buying a car. If you are military personnel and want to buy a car, military auto loans are tailored to suit your financing needs. The loans can make buying a car easy and provide comfort to your family while travelling to different places.

Why are Lenders lenient towards Military Personnel?

Being in military inevitably puts you at a big advantage and it gets you much better loan deals. So what makes your loan application look good? The answer is simple. It is your steady income and rock solid job security.

There is one more reason. Lenders are more lenient towards you because they understand that you have to stay away from civilization for a long period of time. Therefore, it becomes difficult for you to establish a good credit score in the traditional way. So, lenders go easy on you when they consider your application for the loans.

What makes Military Auto Loans different?

When you are serving the nation, you are the one who is different from the rest. So lenders provide you with an auto loan that is different from the regular loans. So what sets military auto loans apart from other loans? The answer lies here:

  • You don’t have to save a big amount for buying your new car. Lenders allow you to buy a car with a smaller down payment.
  • You get the benefit of long repayment periods and low monthly payments.
  • With the convenience of internet, it becomes easy to locate lenders who specialize in military auto loans.
  • The loans are not only offered to those who are in active services of the military forces but even retired personnel are eligible to apply.
  • You get flexible terms and conditions.
  • Even when you are stationed abroad, you can apply for the loans and buy a car for your family.

So when you have done an exceptional work for the nation, lenders provide you with exceptional benefits. Military auto loans give you benefits which no other regular loans provide. So, apply for the loans and give a comfortable life to your family.

CarDestination.com provides pre-approved auto loans to help military personnel buy the car of their choice. Apply with the reputed loan expert to enjoy no money down car financing.


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Mon, Nov 21st - 4:44AM

3 Regulations to consider while selling your Car in Wisconsin

While many of us may like to hang on to a car for a long time, there comes a time when we eventually have to sell it. The reasons to sell your car may be plenty. Some may wish to sell it because it’s worn out while others may want to invest the same money elsewhere. Whatever the reason, once you have decided to sell your car, considering a few regulations that will benefit you in making the whole process a lot smoother. According to the reports of 2009, Wisconsin had more than 2.53 million registered automobiles. The statistics only point towards the ever increasing demand for cars and the huge opportunity to get the best selling price for your car.

Follow Regulations for Selling Car in Wisconsin

Follow Regulations for a Smooth Car Selling Process

It is essential to consider the following Wisconsin regulations while selling your car in the state:

1. Complete the Transfer of Title

In order to sell your car, you need to ensure that the transfer of the title of the car is made successfully. According to the laws of Wisconsin, you can only sell your car if the title of the car is under your name. If it is either missing or damaged, you will have to apply for a duplicate title at the Wisconsin Department of Transportation. You will have to fill the replacement title application (Form MV2119) in order to obtain a duplicate title. Once you have received the title, you can move ahead with the process of selling your car in Wisconsin.

2. Disclose Accurate Brand Information

A brand disclosure is an essential element that you should consider while selling your car. It gives the buyer the required information so that he/she can make an informed decision. Consider the following different brand titles that your car can receive:

  • ‘Rebuilt Salvage’ -Your car will be allotted the title if it is salvaged and the damage is more than 70% of its market price.
  • ‘Flood Damage’– You will receive the title if your car was flooded and the damages total up to 70% of its market price.

During the selling process, if your car has any kind of brand title, it is mandatory for you to share the information with the buyer. In case, you withheld such information, you can be penalized up to $5000. Therefore, make it a point to disclose the correct information while selling your car in Wisconsin.

3. Submit Odometer Mileage Statement

Prior to selling your car in Wisconsin, you need to submit a statement of the current odometer mileage. An odometer mileage reading measures the total number of miles that the car has travelled. If your car is less than ten years old, you are required to submit the statement. Every seller should submit it to the Wisconsin Department of Transportation.

Selling your car is an important step. Keep the above regulations in mind while selling your car in Wisconsin. It will ensure a smooth car selling process and enable you to buy your next car easily.

If you are interested in buying a new car in Wisconsin, do not wait till you sell your old car. Apply with CarDestination.com for guaranteed auto loans in Wisconsin. Enjoy immediate approval on bad credit auto loans.


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Sat, Nov 19th - 9:03PM

Cosigner- A Helping Hand for Quick Auto Loan Approval

With the rising delinquencies, one thing is sure, the lenders have become skeptic about lending money to people with credit issues. Now, they are more cautious regarding their investments and need an assurance before lending money to anyone.

A Cosigner for your Auto Loan Application

Does it mean that a person with low FICO score or zero credit history won't get an auto loan? Of course not. The credit borrower only needs a helping hand in the form of a cosigner to support his loan application. So, let’s get enlightened about a cosigner and how he will affect your loan application.

Who is a Cosigner?

A cosigner is a person who signs the loan documents along with the credit borrower. He is obligated to pay for the auto loan if the credit borrower fails to repay the borrowed amount.

The lenders see a cosigner as a guarantee for regular loan payments. That's why; having a cosigner by your side will support your loan application positively.

When do you need a Cosigner?

When a credit borrower has credit issues such as a bad credit history, a zero credit score, repossession in the past, etc., the lender will be reluctant in approving his loan request. He will require a cosigner to provide guarantee of regular monthly payments.

If you fail to make timely payments or decide to avoid them, the cosigner will have to shoulder the responsibility of the loan amount and he will have to pay it to the lender.

What are the Eligibility Criteria for a Cosigner?

A person with a very good credit history and a high FICO score is considered as a strong contender for becoming a cosigner. A friend, a family member, a neighbor, etc. is eligible to become cosigner for your auto loan.

Remember that the cosigner must be enlightened regarding the loan terms and payment schedules. And most importantly, he should support your loan application willingly.

What are the Advantages of having a Cosigner?

  • Your loan application will get approved easily as the lender will enjoy the necessary trust and with the help of the cosigner.
  • Despite your credit issues, the lender will provide you with low interest rates because of the cosigner.
  • Making timely payments will boost your credit score and put an end to your credit issues.
  • The lender will not scrutinize your financial details and raise unnecessary queries.
  • Getting auto loan approval becomes easy.

A cosigner is a helping hand that will ensure quick and definite auto loan approval. So, find someone who can become your cosigner and apply for an auto loan without any tension.

Having a cosigner has its perks. But, do not worry if you do not have a cosigner. CarDestination, the company that provides bad credit no money down auto loans also works with people who are unable to find a cosigner. Apply for no cosigner auto loans and get loan approval quickly.


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Thu, Nov 3rd - 12:14AM

Understanding the Nitty-Gritty Details of Making an Online Car Purchase in Florida

Buying a car is one of the most expensive experiences in our lives. While buying a car, there are plenty of options to choose from. Therefore, shopping around becomes the utmost important aspect when you are selecting a car. When you shop around in Florida, there are two means of buying a car; namely from a physical dealership or making an online car purchase. Florida, being the third most populous and eighth most densely populated state in the United States of America, has many transactions that include online car purchases. Though, the process of making an online car purchase in Florida is not a complex procedure, you need to understand the nitty-gritty details of the rules prevalent in the state.

An Online Car Purchase in Florida

There is no shortage of car buying options in Florida. However, the following points will help you while you make an online car purchase in Florida:

  • Ensuring a Motor Vehicle Check

motor-vehicle-check-florida-car-destination

Any car that is titled in Florida can be inspected for potential damages under ‘Motor Vehicle Check’. The test is conducted by the Florida Department of Highway Safety and Motor Vehicles. Essentially, the ‘Motor Vehicle Check’ examines if the car has any outstanding payments or if the car has been a victim to flood damage. Additionally, there are several other motor history tests that can be conducted to estimate any potential damage made to the car. Therefore, prior to making an online car purchase in Florida, make sure you have carried out all the required tests.

  • Complete Required Title Procedures

Car Title Florida

In the case of an online car purchase, the dealer is required to apply for the title registration on behalf of the buyer. According to the rules prevalent in Florida, the dealer is given a period of thirty days to complete the title registration procedure. Florida Department of Highway Safety and Motor Vehicles acts as a formal authority that regulates the car purchases, provides licenses and resolves disputes and grievances. Thus, it becomes essential to complete the required title procedures within the stipulated time frame.

  • Consider Taxation

Sales Tax on Online Car Purchase in Florida

Different states have different rules regarding taxes on the purchase of a car. Florida has rules relating to taxation that include the imposition of sales tax. The current sales tax rate in Florida is 6 percent on the total purchase price of the car. In case you make an out-of-state purchase, you are liable to pay a sales tax that is prevalent in the state from which you are buying the car. Additionally, many counties in Florida impose a discretionary sales surtax. The sales surtax is applicable when you reside within a county of Florida that imposes it. The sales surtax is applicable to the first $5000 amount of the car purchase price and its form is DR-15DSS. It contains all the information regarding surtax rates in different areas of Florida.

The aspect of taxation is often ignored while making an online car purchase. However, considering the current sales tax rate in Florida will help you in making an accurate calculation of the amount that you will be spending on your car.

An online car purchase expands your current car shopping options and exposes you to new possibilities. Making an online car purchase in Florida is not a difficult task. However, it is best to understand the nitty-gritty details in making an online car purchase in Florida because it will help you to become an informed purchaser.

Want to buy a car in the Sunshine State? You need to obtain bad credit no money down car loans in Florida to help you expedite the car buying process. CarDestination.com will provide you with pre-approved bad credit auto financing in Miami, Jacksonville, Tampa and every other part of the state.


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Wed, Nov 2nd - 12:31AM

3 Tips College Students Must Follow While Purchasing a Used Car in North Carolina

When you own a car, college life tends to become a lot easier. A car for college students can be a means for a quicker commute to class. Additionally, having a car can be a convenient means of running errands and simplifying daily chores. North Carolina, being the ninth most populous state in United States, is home to many community colleges and state universities. Therefore, the upsurge in the number of college students opting for used cars has increased in the state. While buying a used car in North Carolina may not be a difficult process, there are some tips that will help you along the way.

Consider the following tips as you set out to purchase your used car in North Carolina.

Get an Inspection before You Purchase Your Car


Get the Car inspected

Whenever buying a used car, it is imperative to evaluate its condition. North Carolina has two sets of inspection checks, namely the vehicle emissions inspection and the vehicle safety inspection. The vehicle emissions inspection, also known as the On-Board Diagnostic Emissions inspection, checks the emissions of the car. On the other hand, the vehicle safety inspection examines the safety of the components of the car; for instance it inspects the working condition of headlights, directional signals, steering and the brake systems. For many first-time buyers and college students, it is one step that is often overlooked. Therefore, before you purchase your next car, make sure to get an inspection.

Ask for a Written Disclosure of Car Damages


Obtain Written Disclosure from Seller

With little or no experience of purchasing a car, asking for a disclosure of the car damages can greatly impact your decision to buy it. Under the laws of North Carolina, the seller must provide a written disclosure if the cost of damages exceed 25 percent of the fair value market price of the car. The written disclosure should be obtained before the purchase is finalized. The seller must disclose specific details of damages such as flood damage and reconstruction of essential car components. Asking for a written disclosure from the seller is essential. It is because the seller is not entitled to inform you about the car’s condition if the damages do not exceed 25 percent of the market price. Thus, if a seller is not providing you with a written disclosure of the car damages, reconsider your purchase decision.

Get Protected Under the Magnuson-Moss Warranty Act


Avoid buying a Lemon Car

The Magnuson-Moss Warranty Act is a federal law prevalent in North Carolina that protects the buyer of any product with price more than $25. Also, it includes any manufacturer warranty during the purchase of the product. Under the act, you can be protected against a used car in North Carolina that does not perform as it is expected to. The Magnuson-Moss Warranty Act states that if your car requires repairs even after two or three repair attempts, you are entitled to a relief. Understanding the various acts prevalent in North Carolina can come to your help when you purchase your next car.

Purchasing a car is major investment. For college students who are new to the various rules of buying a used car, the above tips will guide you when you set out to make a purchase in North Carolina.

Buying a used car becomes easy when you obtain a bad-credit North Carolina auto loan. Apply with CarDestination to enjoy quick and stress-free approval on first-time car buyer’s program.



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