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Wed, Oct 5th - 3:19AM

Tips to Compare Online Auto Quotes

Commuting every day to work in crowded buses or traveling in jam-packed metros is a nightmare. It is for this reason that cars are being given a serious thought. If you own a vehicle, you can go places and get your work done faster. Cars are beyond doubt an essential element of every home!

Driving a car is an amazing experience, but buying it is a great pain. Why? Well, affordability is the main reason. Even used cars have become very expensive these days. One can buy a car only with an auto loan. And is getting loans, easy? I wish it was.

Walking down to every lender, filling up several forms, waiting for loan approval, too much, eh? Want to turn this awful experience into a fabulous one? Want to make it more quick and easy?

By the end of this article; you will be having an exact idea of getting that auto loan which has been so far elusive.

"Any Sufficiently Advanced Technology Is Indistinguishable From Magic" - Arthur C. Clarke

Truly, internet is magic. There is no denying that. It has ushered in an age of quick solutions to everyday problems. It has made the tedious auto loan process very simple. The era of waiting has long gone. So, without wasting any time, let's comprehend the entire process of getting online auto loans.

To Do It the Right Way, It Is Important To Know It Well

When you have to avail instant loans, it is important that you do your homework. You will have to consider how much you can afford to pay and also take care of your credit score.

Money Matters

No matter what any lender tells you, never go for a loan when you cannot afford it. Lenders have the habit of luring you into their schemes and when you cannot pay they just take away your car.

So, please consider how much you can pay and then go for a loan.

What's Your Score?

Your credit history has a lot to do with your loan approval ratio. Avail your free credit score from theAnnualcreditscore.com. Check for any errors and make sure you know your exact credit score. This is important because you will at least know where to apply.

Are You Ready For an Online Shopping Experience?

Get online to search for reliable lending companies. Online companies partner with several institutions to help you avail instant loans.

Different Companies Work In Different Fashion

Few companies work with a particular network of dealers. If a dealer approves your loan, you will have to go him in order to choose your car. Now, if you don't like any car, you can move on to the next dealer who offered you the next-best deal.

Then, there are companies who do not work with any specific dealer group. Such companies will approve an amount for you, which can be used at any dealer. This method is more common than the previous.

Online lenders will have one common thing in their websites. It is the "Get a Quote" option. When you click on that option, you will get a loan application form. You will have to fill in your personal details like your SSN, employment history, income, existing mortgage, current loan payments, etc. If you have already chosen your car, the car's VIN is asked. Also details about the dealer will be requested.

Be sure to complete the application form and don't give any deceiving information. A small difference in income or employment date can cause major changes in your interest rate.

Once you fill the form, the site will send your quote to several affiliated lenders. These lenders will send it to the local lender (of your area). After the local lenders compete for your application, you will receive a list of lenders who are keen to offer you loans.

It may happen that your application is accepted by several lenders and you will have the option of choosing any one. It is also a possibility that you may only be given the name of the lender who offered you the best deal.

Whatever the procedure, you shouldn't really settle on any company without due deliberation.

Compare Quotes

You must compare quotes and not rely on any one online lender. Make use of the "Compare Quotes" option. With it, you will be able to make a side by side comparison of quotes.

It is important to have a broad perspective and understand every aspect before signing the dotted line. So when you compare your quotes, you must keep the following factors in mind:

1. Be Cautious

You need to realize that there are several loan sharks lurking to trick you. You should be alert while dealing online. Ascertain the company's reputation. Read its privacy policy. You shouldn't decide on a company if it asks to pay a huge up- front fee.

Also check the security of the website. If the URL doesn't begin with HTTPS ( https://www.rapidcarloans.net ), it is not secured. Never share your personal details on such a site.

2. The Total Cost

There are several costs that are not obvious but form an important part of your loan. You will have to pay origination/processing fees and several other charges to the lender. Be aware of all the hidden costs associated with the loan.

Make sum of all the monthly payments, fees and charges. Once you do that, it will be very easy to compare auto loan quotes.

3. APR

Lower the APR, the Better It Is!

The Annual Percentage Rate includes interest rate and all the fees and charges. It is shown in percentage and reveals the real yearly cost of the loan. If APR is lower, you will have to spend less on the loan.

When you compare APR, you will come to know that it is not always true that lower interest rates are beneficial. They are good when coupled with lower fees. So, don't go for a loan just because it is available at lower interest rates.

4. Loan Term

Stay Away From Longer-Term Especially When Buying a Car

Any car depreciates as soon as you drive off the lot. A longer-term loan will be dangerous as you will be carrying more risk of owing more than the value of your car. You will have more chances of getting stuck with an upside down loan.

5. Payment Liberties

You can always benefit by making few extra payments. See if you can negotiate and have pre-payment privileges. Compare loans on the basis of number of extra payments allowed.

Also check for any pre-payment penalty. There are lenders who will impose a penalty for paying off the loan early. You shouldn't agree on such a term as it is of no benefit to you.

If you consider all the factors, it will be useful to eliminate those scam websites. The internet is useful only when you are guarded.

Get online, stay vigilant and you will find that affordable auto loan within just few clicks.

Choose wisely and don't forget to compare!


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Wed, Oct 5th - 3:17AM

Think Smart; Buy Online - The Mantra for Buying a New Car

The plush leather seats, the new alloy wheels, power windows, a powerful engineÖ. Just the talk of new car gets adrenaline pumping.

Buying a NEW car is simply splendid! But you need to be sure while making the purchase. You donít want to buy something that doesnít go with your style, something that doesnít meet your expectations.

So, you must research before buying your dream car. Doing research for the perfect car can be quite appalling. But as they say hard work pays well.

So, letís start with some easy tips to help you through this equally exciting and maddening process of buying a car.

Itís All about MONEY

Itís true that money makes the world go round. When you buy a car, it is essential that you have enough financial standing to buy your dream or at least to get your loan approved.

You must sit and calculate the estimated expenditure you want to incur.

Donít think that your expenses end with buying a new car. You will have to pay for registration, taxes, insurance, maintenance, fuel, etc. Donít forget the car loan that you will need to pay off. So, take your time and then decide the budget. You will also have to determine the down payment amount. You must know that the higher you pay, the lesser you will have to shell out for loan and interest.

If you have a pre-decided budget, it will be easy to narrow down your search.

Information Helps You to Take Correct Decisions

You shouldnít buy a car just because your friendly neighbor gave great reviews about it. It is always better to first scrutinize information and then to form an opinion. By doing this, you will be ensured of buying a perfect car.

Different Individuals - Different Reasons

If youíre a city guy/gal, you will need a small and compact car to help you drive on the crowded streets.

If you have a family, you will need a car that has advanced safety features and enough space for everyone.

If you are the adventurous type and constantly search for thrill, SUV is perfect for you.

So, decide whatís best for you and then search for brands in that category. Make use of internet to get a detailed analysis of several brands and models. Also study articles and reviews about their features.

Once you are through with it, write down the standard options that should be fundamental in your car and also a list of other additional factors you may pay for.

A Picture Speaks A Thousand Words

Once you choose your favorite cars, view their images. You will get inside-out pictures. This will give you a perfect idea of how the car looks.

You must also read safety ratings by Government authorities. Check for any recalls by the manufacturer.

Once you have knowledge about brands and model, you will have more power to negotiate.

Rebates and Incentives

With the present economic condition of the automobile sector, companies are attracting consumers with the help of rebates and incentives. This is where you can save. Choose a car that offers a higher rebate amount and incentives like 0% down payment.

Resale Value

When you decide on the car, you should also consider its resale value. As soon as you start your car, it loses some value. You obviously donít want to buy a car that has a low resale value. So, go for a car that earns money even when you sale it.

Buy a New Car at the Click of Mouse

Internet is the best thing that has happened to us in the last century. Before its advent, almost the entire car buying process took place at the car-lots. But with online options available, you can buy your car without leaving the four walls of your home.

Several online companies will help you buy your dream car in no time. All you have to do is fill in your preference and select the car from the given options.

Research Filters

Companies provide you with online form. There are several browsing categories available. You can search on the basis of price, model, make, style, year of production, fuel economy, popularity, etc.

Test Drive

Donít forget to test drive the car you want to purchase. You should also check other models and finally select a car that lives up to your expectation.

When You Get Everything Online, Why Not Loans?

Once you decide the car, you will have to think about finance. You can easily avail loans with the help of internet.

Many companies have websites where you just have to fill the form and get your loan approved. If you have a good credit score, availing auto loans would be very easy. In a situation of bad credit score, you can always go for bad credit car loans.

You shouldnít opt for the very first online company that offers you a quote. Shop around, compare car loan quotes, check the companyís credibility and ensure that the agreement terms suit you.

Trade-In Your Old to Buy a New

When you have a brand new car, you donít need the old one. So, why not put it to good use? Trade-in and reduce the payable amount of your new car.

Make Your Offer

Once you have completed your search and have come down to your favorite one, make the offer. If the dealer doesnít agree to your terms, donít go for anything that is unaffordable.

I always believe that unless and until you have that Eureka moment for the car, donít buy it. You are spending your hard earned money. So, donít let it go waste. Buy only when you feel it.

Hope you find your dream car soon!

All the best!


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Mon, Sep 26th - 10:31PM

What to Look For in a Pre-Owned Car?

Everyone wants to buy their own car. Congestion in public transport system and complete freedom with a personal car are the reasons why we absolutely need cars.

For buying a car, you need to have sufficient resources. Don't worry if you aren't born with a silver spoon, you can still own a car. There are several lending companies who will give you an auto loan.

There is no harm in going for used cars / pre-owned cars, if you do a thorough research. They are easily available with car dealers, leasing companies, auctioneers and private parties. You can get a plethora of information about pre-owned cars from classifieds in newspapers or you can also use the web.

Are you apprehensive of buying a pre-owned car? Are you worried whether the car was involved in a severe accident or not? Do you doubt that it was flooded?

Don't worry about all these things. There are several sites that offer appraisals for used cars. You can know the complete history of a car with the help of Vehicle History Report. You will get to know about the car's title records, car insurance, salvage records and accident history. Make sure that the vehicle has a clean title and no bank loan on it.

You should also confirm the Vehicle Identification Number (VIN) to know about the year, model and odometer records.

If you are still not sure about a pre-owned car, then you should buy a CPO (Certified Pre-Owned) car. Manufacturers certify that the car has passed all the essential inspection and also provide an extended warranty. This means you get a used car which is almost new and that too for a lesser price.

But be wary of dealers who issue their own brands of certification. When compared to manufacturer/factory certification, they seem to be a charade. This is so because you will be charged higher for the certification and there won't be much significant difference than a non-certified car.

When the dealer offers you a price, you must compare it with the market value. You can use the Kelly Blue Book value. The company is a pioneer in providing authentic information about car pricing and information. This will ensure that you are not paying more than its real value.

CRITERIA

When you decide to avail auto loans, your lending company will want you to fulfill certain criteria. So when you choose a car, make sure it does fulfill them.

Three to five years old cars are excellent when it comes to car loans. Your car shouldn't be older than 8 years. If it's older than that, there is no point in buying a car that goes the way of dinosaurs.

Your car shouldn't be driven for more than 65,000 miles. The lenders set a limit to determine whether the car is too old or not. Generally, a car more than 65,000 miles means the car is used for more time and its value has also depreciated.

Few lenders would also want you to have a stable job and a constant place of residence. You should be going for the same job for approximately 2 years. The same is required for your residence. Your income is also considered when you buy an auto loan.

Your credit score is also important as it shows your credit history and details about your debts and payments. A credit score less than 540 indicates that you will be paying higher interest rates.

Purchasing a car is an important decision. So, it is necessary that you accurately decide on the car and the lender. You can make use of the internet to search for lending companies. Do compare car loan quotes and select someone who offers you comfortable loan terms.

Hope you soon get a car of your own. All the best!

RapidCarLoans.net provides car loans at reasonable rates. We specialize in providing loans for used cars. Visit www.rapidcarloans.net to know more about the wide range of loans that we offer.


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Mon, Sep 26th - 10:29PM

Things to Consider Before Going for Lease Buyout Financing

In the fast lanes of life, no one can imagine living without their cars. You can easily drive your dream car if you lease it.

Your leasing company will also give you the option of buying the leased car. There are two kinds of car lease buyouts or payoffs:

1) Lease-end buyout (at end of lease period)

2) Early buyout (during the lease period)

Buying your leased car is always better than buying a used car from a dealer who is an absolute stranger to you. You know the car's history and if you have been maintaining it properly, then it is advantageous to you.

Also if you have surpassed the mileage restrictions and don't want to pay the exorbitant additional fees, buyout will be very useful.

For buying the car, you will need to avail an auto loan. But before that, it is essential that you consider few things. Prevention is better than cure, isn't it?

Read the document carefully

You need to be cautious while dealing in any financial matter. If your company doesn't allow an early buyout, it is not wise to go for it. The reason is that you will have to pay heavy penalties or extremely expensive termination fees. So, do read the lease agreement carefully.

The condition of the car

While going for lease buyout, carefully check the condition of the leased car.

If you have been maintaining it well, then you need not worry about it. But if the leased car has depreciated a lot, there is no point in buying it.

Understand the Purchase option price/Residual value

Your lease agreement will have a "Purchase Option Price" which is set by the leasing company. This is the price that you will have to pay if you decide to buy the leased car.

The price is set taking into account the value of the car at the end of the lease period and an additional purchasing fee.

Don't forget to see how your leasing company manages your payments. Few companies consider initial payments on the car as interest payments instead of payments on the principle. So, you may owe much more than the residual value.

Compare the residual value with the market value

You will be at the benefit only when the market value will be higher than the residual value of the car. You can determine the market value with the help of Kelly Blue Book or any other website that provides authentic data. If the car is valued lower than the residual value, then it will be better to end your lease and search for another car.

Negotiate for the price

Not everyone knows that the price is negotiable. The leasing company is also at the benefit with the buyout.

The company will gain from the buyout as it won't have to sell the car in an auction at a very lower price. It also buys the Residual Insurance which will pay for any difference between the price of the car and the residual value. So don't forget to make a good deal with the company as it not going to suffer in any way.

AVAIL EASY FINANCE FOR LEASE BUYOUT

Lease buyout finance is just as same as financing a used car. You can either choose auto dealership financing or go to any financial institution. You can also avail finance from several online financing companies.

The loan process is not much different. Lenders will take a look at your credit score and decide the interest rates at which you will receive the loan from them.

Now you are at benefit if you have a great credit score, but you can find a lender even with a bad credit history. In that scenario, you will have to go to someone who specializes in bad credit car loans along with lease-buyout loans.

Lease buyout loans are very easy to get. So if the lease period is ending and you really like the car, go for lease buyout. Avail easy car loans and drive your very own car.


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Sat, Sep 3rd - 4:16AM

Criteria to Consider Before Availing Self-Employed Auto Loans

Well, let me first congratulate you. In an economy plagued by unemployment and debt, it takes great courage to venture out on your own. A self-employed individual not only earns for himself but also provides the same opportunity to others.

"Everything in life is somewhere else, and you get there in a car" - Mr. E. B. White

We all have to agree that a car is no longer a means of comfort or luxury. It has become a need for us. But buying a car has become very expensive. A FINANCED car is the only reality now.

So before you search for car loans, you should be aware of the two types of loans offered:

1) Secured Auto Loans

When a lender provides you with a secured loan, you will have to pledge your assets as collateral. Your home, car, stock, bonds, etc. can be pledged against the loan.

2) Unsecured Auto Loans

An unsecured loan is obtained without any collateral. Hence, you will be charged with higher interest rates. When you avail an unsecured loan, you will have to prove your earning capacity. This will ensure the lender of regular payments in future.

What are the requirements for availing Self Employed Car Loans?

Constant Income

A W-2 employee can prove his earning capacity by showing his pay check. But, you are self-employed and you obviously don't write pay checks to yourself. So, it becomes a bit difficult to prove that you get a steady income every month.

As you are self-employed, you will have to fill the following forms:

>> Form 1040 (U.S. Individual Income Tax Return)

>> Schedule C (Profit or Loss from Business)

>> Schedule SE (Self-Employment Tax)

You can solve the problem with the help of these tax forms. You should provide at least three years' record of your tax returns. This will assure the lender of your REGULAR income.

Many self-employed individuals write off their profits to reduce the tax burden. But make sure that YOU show the actual profit. A robust profit will ensure the lender of your stability and therefore you will have to pay lesser interest.

Bank Statements

You will have to show your monthly bank statements. Few lenders may want to see your personal accounts and also want to verify your personal assets.

Your Residential Proof

A constant place of residence means you are able to pay your rent and other utilities on time. This shows your stability and instills greater confidence in you.

And so, the lender will require a copy of your recent Mortgage Statement and Utility Bill.

Credit Rating

Even if you are self-employed, your credit rating matters. Your credit score will show your credit worthiness to the lender. If you have a better score (generally 600 and above), then you have a greater chance of getting your car loan approved.

Recommendation From Your Clients

Lenders want to ensure the stability of your business. So they might ask for recommendation letters from your clients. If your client writes it on his Company letterhead, it will prove to have more impact.

These are the major things that your lender will ask from you. The requirements may vary depending on the type of loan you are availing. Unsecured car loans will apparently have more criteria than the secured loans.

If you are a self-employed individual with a good credit score, availing loans won't be difficult for you. You just need to have accurate financial records and soon you will be driving your very OWN car.

There's time enough, but none to spare.

So don't wait. Go online and search for a lender who will value your credentials and give you a loan instantly.

Searching for old or new car, we have everything for you. RapidCarLoans.net is an auto financing company that provides car loans to everyone. Extensive network of lenders will provide you auto loans at low rates.


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