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Thu, Jan 10th - 2:19AM

With These Bad Credit Auto Loan Tips, Get Ready To Drive Your Dream Car in Michigan

Nothing in this world has changed our lives like a car. Every other invention has come and gone but none has matched the car revolution. Right from the first model T to the new power packed machines, cars have come a long way. And, which State has witnessed it all? The State of Michigan is where it all started. Ford, GM and Chrysler are all located in the State. Hence, Michigandersí love for cars is well understood.

Buying a car is a great experience for everyone; itís phenomenal if you are in the State of Automobiles. Donít you remember buying a car with your parents? Being in the car hub of America, there used to be the excitement of walking into the lot and seeing several amazing cars. Your family chose the perfect one after a thorough analysis. Back then, things were pretty simple because you didnít know much about credit history. Now, things look complicated and the fun has turned into uncertainty -uncertainty of choosing that perfect car, uncertainty of getting loans. Even if you got a loan with a poor credit score, there is the uncertainty of getting reasonable interest rates.

But, hereís something to remove all the clouds of doubts and uncertainty. This is an article to help you get an affordable car loan even with an imperfect credit score in Michigan.

Money Comes First, Wherever You Go

Whenever you have to buy something, money comes first. You must know your affordability. For that, prepare a budget. Calculate the surplus that remains after paying all the bills and expenses. If you have a sufficient amount left with you, then making monthly payments will be very easy.

Now, your loan amount depends on your car. A brand new car and pre-owned one have substantial difference in pricing. If you buy a new car, then your loan amount will increase. This decision is good only when you are able to make regular payments. So, think twice before deciding on the car.

Know Your Score

Every lender checks your credit score. But, before he does and wrongly charges you high interest rates, you must check your own score. According to the Federal Law, you have the privilege of getting your free credit report once in a year. Annualcreditreport.com is the name of website where you will have to apply for it. Now, this site will only give you the credit report and not the score. For that, you must apply with any of the three bureaus.

Go through your report and search for any errors. In case you find any, report it to the credit bureaus. You must apply for any loan only after the discrepancies are taken care of. Also, ask your current lenders to report your regular monthly payments. This will definitely improve your credit score.

The economy has suffered a lot during recession. Many have not been able to keep up with their payments and as result their credit scores have taken a toll. There are many people tackling bad credit scores, just like you. How do they get loans? Well, the answer is sub-prime lenders.

You must know that your credit score is just one aspect of the approval criteria. There are many other things that the lenders consider before taking a decision. Income, employment details, residence, down payment amount, co-signer and many other factors help lenders in taking a decision.

What Documents Are Considered For Bad Credit Auto Loan?

Income Proof

You must be currently employed. Lenders are fine if you are individual contractor. The only thing that is important for them is your income. Your gross monthly income should be at least $ 1,000.

If you are employed, then you must present a copy of your pay stubs. Most lenders will ask you to send them a copy of last two months.

If you are a self-employed contractor, you will have to submit IT returns of at least three years, although it all depends on the lender.

The following documents will be considered income-proof for self employed

Michigan Tax Forms
1. MI 1040 (Michigan Individual Income Tax Return)
2. MI 1040 ES (Michigan Individual Estimated Tax)
3. Michigan Business Tax

Federal Tax Forms
1. Form 1040 (U.S. Individual Income Tax Return)
2. Schedule C (Profit or Loss from Business)
3. Schedule F (Profit or Loss from Farming)
4. Schedule SE (Self-Employment Tax)

Bank Statements

Bank statements are a proof of your regular financial transactions. Lenders want to be assured of the safety of their money and hence would be interested in your bank accounts.

Residential Proof

If you are living in the same house for at least six months, it means you have been paying your utility bills regularly. Lenders will require a copy of your recent utility bills like phone or electricity.

Tips for Getting Approval

Co-Signer

When you have a bad credit score, you must make up for other aspects of the lending criteria. If you get a co-signer on-board, the lenderís risk will be reduced. Lenders generally ask for co-signer so that when you miss a payment, the co-signer can be held responsible.

Anyone can be a co-signer as long as he has a decent credit score.

Down Payment

Down payment is the initial upfront amount that you pay while buying a car. When you make a down payment, you lower your loan amount. This reduces the lenderís risk and thus, approving your loan application wonít be a problem for him.

These two factors play a very crucial rule when it comes to a bad credit car loan. If you can manage them well, getting a loan will be very easy for you. These tips will help you buy your dream car in the Wolverine State.

So with all the information available, donít wait for anything. Apply with a lending company that offers low rate auto loans in Michigan.

Rapidcarloans.net is an online auto lending company that offers bad credit car loans Michigan at reasonable rates. We have a large network of sub-prime lenders in Michigan. Take advantage of our robust coverage and get ready to drive your car in style.

All the best!


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Thu, Jan 10th - 2:18AM

How to Buy Your Dream Car in Detroit?

Cars have been the best invention ever! They have brought a greater change in our life than any of us could ever imagine. Our lives are altered and our social existence has undergone a great change because of the four-wheels. And, well what has been at the center of everything? Detroit. It is the city in which the dream of automobiles was conceived.

Since the establishment of Ford Motor Company by Henry Ford, Detroit has never paused. The Hockey town has steadily grown from a sleepy residence to the hub of sleek cars. Detroiters are known all over the world for their love of car. Their passion for cars can be seen by the huge turnout in the ongoing 2012 Detroit Auto Show.

When automobiles are your passion, you want nothing but the best. This article is an attempt to help you get that best car. It will give you a detailed explanation of making the perfect car purchase.

New or old - car buying can spell trouble if done haphazardly. So, letís set the ball rolling and begin our journey of buying a splendid automobile.

How Will You Bring It Home?

Thereís no such thing as a free lunch. You have to pay for each and everything. And, cars are no different.

Buying a car is not like ordering Jetís Pizza. You need to think a lot more and prepare a budget. You must understand that a car requires huge commitment on your part. Several expenses will have to be borne. Not only the cost of car, but there are other expenses like registration and title fees, State taxes, insurance, fuel, maintenance, etc.

Make sure you donít have any major expenses coming up? If so, you will have to save on it and making a decent down payment will become difficult. So, take a wise decision.

Old or New Is like Smokes and Mirrors

The question of choosing an old classic or a sparkling new beauty can be clearly declared as the dilemma of the millennium. If you have simply loved the new 2013 Acura RDX or the Ford Fusion at the Auto Show, you can think of buying a new car. A new car means high investment in the beginning. But, it will definitely have lesser maintenance cost in future.

If you are someone who believes that cars tell a story, pre-owned cars is your option. The Motor City provides you several alternatives when it comes to used cars. Detroiters simply love cars and experiment buying several different makes and models. This means people sell their cars every year. With the beginning of the Auto Show, there are higher chances of trade-ins so that people can buy cars that were on display. This makes the best time to buy a used car as there will be high supply of used cars and on the other side, less people will be asking for it. This puts you in the commanding position. You can negotiate more fiercely.

Detroit is blessed with four distinct seasons. You need a car that can combat the cold and stormy winters and the occasional summer down pour. So, choose a car that is well suited for all seasons.

The Detroit householdís median income for 2005-2009 was $ 29,447 (U.S. Census Bureau). This means monthly income comes to something around $2400. If you consider all expenses of rent and utility, there will still be $200- $ 400 which can be spent on monthly payments. So, you must set your eyes on a car that is well within this range.

New or old- it all depends on your choice. The clearer you are; the easier it will be to narrow down your choices.

How To Cherry Pick Your Car?

While selecting a car, you must do a thorough research. Ask your friends. Also, read expert comments and reviews about a particular model. Websites like the autofocusdetroit.com, detroitnews.com and freep.com can help you with new developments in the automobile industry.

Hedge your bets by selecting few cars. If you choose just one car and it doesnít have a good history, you will have to make a fresh start.

If any of the chosen cars is a pre-owned, make sure that you get its VIN. Check its history. If itís been salvaged, itís better to stay away from it. Also, ask your trusted mechanic to check it.

Last But Not the Least

Once you are sure about your car, all you need to do is get it registered at the Detroit SOS Branch Office. The city follows laws of the State of Michigan. Hereís a list of offices located around the Rock City.

1. SOS Branch Office
550 Washington Blvd.
Detroit, MI 48226

2. SUPER!Center Branch Office
3046 W. Grand Blvd.
Detroit, MI 48202

3. SOS Branch Office
8717 Joseph Campau Street
Hamtramck, MI 48212

4. SOS Branch Office
7760 W. Vernor Highway
Detroit, MI 48209

5. SOS Branch Office
14301 Woodward Ave.
Highland Park, MI 48203

Most branches are open on weekdays from 9 to 5. On Wednesdays, the office is open from 11 to 7. This is only true for those located outside the city buildings. You must remember that the SUPER! Center and PLUS offices are open for more hours.

You will have to get the vehicleís title within 15 days of the purchase. Late registration fees are $15. Title transfer fee is $15 and you will also have to pay 6% use tax.

Applying for the title requires you to have the proof of vehicle ownership and valid identification. The Michigan Law and Federal Law require the disclosure of actual odometer reading while transferring or assigning car title. You can avoid it if your vehicle is not self- propelled, is older than10 years, or weighs more than 16,000 pounds.

If you want to buy a new license plate, a valid Michigan no fault insurance certificate is required. It will be fun to choose your plate from several designs. If you have 1984 model or a newer vehicle, license plate fees will be calculated as a percentage of the MSRP. If itís older than that, the fee is calculated by taking into account the weight of vehicle.

You also have the option of transferring your old license plate. You will need your current valid registration and title of the new car to which you want to transfer the plate. This will cost you $8.

You will go to the SOS office without a car to your name, but will leave with your dream car. So, this is how the car buying process can be done.

Donít wait anymore to drive your dream car. Allow yourself the privilege of a car and revel yourself in the glory of a city that breathes and thrives on cars.

Paint the town red in your very own car with Rapidcarloans.net. We offer the most reasonable auto loans in Detroit. New or old, bad or no credit - our wide network of skilled lenders and dealers allows us to serve one and all. Apply on our website and say yes to the best car loans in town.

Best of Luck!!!


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Fri, Mar 2nd - 11:29PM

A Comprehensive Guide to Help You Get the Best Car in the Wolverine State

No other man-made device has revolutionized the human life, like a car. No other invention satiates manís esteem like the automobile. A car holds so much importance in our life that everything revolves around it. More than public transportation, it has changed the very private lives of Americans.

When it comes to Michiganders, cars are their passion. Their absolute love for cars has been since 1908 when Henry Ford established the Ford Motor Company. Buying a car gives satisfaction to everyone. It is like fulfilling the American dream. But to feel great joy, you must buy that perfect car. And for it, you need to have perfect information about the entire auto buying process.

There have been several instances when the dealers and lenders have duped the innocuous buyer. Hereís an article to help you get your dream car without falling into the trap of a dubious dealer.

How Will You Foot The Bill?

When you are buying something like a car, you need to chalk a budget. How much you can afford? Will you be able to pay expenses like the registration, title and tax fess? You will have to fork over for insurance, maintenance and fuel as well.

So, prepare budget before everything else. It will let you know if your car buying decision is correct or not.

Is The New Totally You Or Is The Old Gold For You?

Once you know how much money you are going to spend on the car. It will help you decide the kind of car you want to go for.

If you can come up with a larger down payment, a new car can be your option. A new beauty ensures lesser maintenance cost in the beginning. If the new car smell is not for you, a pre-owned is your answer. While buying a used car, you must do extra research because there are chances of buying a salvaged one.

Always, Knowledge Leads To Perfection

Whenever you want to buy a car, whether it is first or not, it is important that you do a thorough research. Impulsive purchase often leads to dissonance. When you live in the State that witnessed the automobile revolution, you have several ways to judge a car.

Automobile and Car and Driver are published in the backyard of Michigan. You can understand all about cars from the glossy pages of these magazines.

Other than that, ask your friends for a particular car. If you have heard that a particular car model has given trouble to many, avoid it. Also, donít opt for something that was recalled.

You must at least have two or three car options to select from. This is essential so that you wonít have to make a fresh start if you decide to reject a car.

When you are choosing a used car, make sure you have referred its vehicle title history. You can get it from the Record Lookup Unit. If you donít have an account with the Unit, you will have to fill a request form. This process may take as long as six weeks so, donít lose patience. You will be charged $7 for the title transaction. Remember that orange titles are salvage titles.

Other than this, get the Vehicle History Report. It will give you all the information. You will know if the car was ever salvaged, stolen, flooded, etc.

Lemon Can Give You a Sour Experience

I insist on checking the vehicle thoroughly because there are chances of ending up with a lemon. You have to be very careful when it comes to buying a car. Never forget to get expert opinion. The expert in this case is your trusted mechanic.

Your entire car buying process will become fruitless if you choose the wrong car. But if you end up with a lemon, the Michigan State Lemon Law can be of your help. This law is applicable for vehicles leased and purchased in Michigan only after January 1, 2000.

Your car will be considered lemon if it hasnít been repaired even after four attempts or it has been out of service for thirty days or more. Also, it is mandatory that the manufacturer is made aware of the defect in writing within one year from the date of delivery or in the period of manufacturer's warranty; whichever period is shorter. If your car is proved as a lemon, you will get its replacement or refund.

How to Make a Car Your Own, LEGALLY?

When you purchase a car from the dealer, he will do all your work of registration. But if you are getting it from a private party or off the web, you will have to do all the work. You cannot use another carís plate for your new purchase. You must transfer the title within fifteen days of purchase for there is a late fee of $15. So, do it at the earliest. You can get your work done in an instant by paying $5 instant title fee.

The ideal situation is if you and seller go to the SOS office and get it done. If you are going alone, make sure the seller has completed the title assignment, odometer disclosure statement and signed it.

You can transfer your old license plate to the new car by bringing registration or license plate number with you. If you plan to buy a new plate, thereís a plethora of options available.

Another important requirement is the Proof of Michigan no-fault insurance.

Once all the formalities are done, SOS office will issue you the registration, license plate and tab. After you put your tab and plate on the car, as required, your flawless beauty becomes yours.

Now that you are equipped with all the knowledge of buying a car, go ahead.

Donít stop!

Rapidcarloans.net offers a wide range of auto financing in Michigan for all types of credit. New, used or private party - we have all options in Michigan. So, donít shy away from buying your favorite car because of unaffordable interest rates. When you think of reasonable car loan, think Rapidcarloans.net. Apply now!

All the best!


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