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Fri, Nov 10th - 10:51AM

Internet Tools: How do they play a Role in your Car Buying Journey?

Do you cringe at the thought of physically visiting hundred different dealerships to buy a car? In this day and age when technology is an integral part of our lives, the usage of internet is bound to increase. Internet acts as a savior for those who require convenience and reduced physical activity during a car purchase. Additionally, the accessible sphere of the internet allows one to explore the car purchasing process on a wide platform. Therefore, when you think about buying your next car, internet tools can ease your car buying process.


Internet Tools play an Imperative Role in helping you buy a Car

1) Convenience

A dealership displays various cars along with the prices and features. However, in order to gain knowledge about the features of the car of your choice, you need to shop around. The presence of internet in the buying process discards any location limitations and provides all the necessary information under one website. There might be a good amount of car buyers who cannot spot their right car because of limited options. The role of the internet tools helps in bringing accessibility and making the entire process convenient for the car buyer.

2) Budget Clarity

Many a times, purchasing a car from a dealership becomes a confusing process. The car amount, along with the down payment, and the subsequent payments become challenging to calculate. The platform of internet eases the process by simplifying the calculations through auto loan calculators. They provide accurate information regarding the car amount, interest and monthly payments. Therefore, you do not need to spend excess money as you can select the car and the auto loan that rightly fits your budget.

3) Effectiveness

The option of online budgeting and savings tools are exclusive only in the sphere of the internet. Different websites compare prices and features of cars that fit in your budget and help you to choose a car. Additionally, the internet tool of a ‘Savings Calculator’ helps you to ascertain the exact time it will take to buy a car of a certain amount. The online tools take care of the amount difference occurring due to different time periods and help in estimating the correct cost of the car in the future.

The Bottom Line: Internet is the Way to make Car Buying Process Simpler

Looking for a new car to purchase can be an exciting adventure. Often, we are so consumed with the idea of quickly purchasing a car that we forget to consider all the important factors. The increasingly helpful role of the internet has come with its own set of advantages. A few reliable websites to assist you in your car buying journey are Kelly Blue Book, Edmunds and CarsDirect. Each website contains accurate information and online tools to guide you to make the correct decision in buying your car. Thus, the next time you have your heart set on a car, do not forget to optimize the usage of internet in making a purchase.

EZ Auto Finance is the perfect online auto financing company to finish your car buying process. Work with the bad credit auto loan giant to buy a car without worrying about bad credit history. Apply now to get an auto loan without down payment.


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Sat, Oct 14th - 7:04AM

How the Equifax Data Breach Affects your Auto Loan Decision?

The auto industry, as with any other industry, carries some established companies known for their services. Equifax, one of the biggest credit reporting agencies, reported a cyber-security incident on the 7th of September 2017. The data breach occurred when cybercriminals gained access to important consumer files while risking the data identity of approximately 143 million U.S. citizens. And, it is not the end. On 12th of October, 2017, Equifax customers had to face another cyber-attack. Equifax website redirected its customers to a third-party site that encouraged them to download malicious software.


In times of peril, it becomes confusing to ascertain the future impact on various decisions such as buying a car. However, with complete knowledge about the risks associated with the Equifax data breach scenario and the preventive measures, you can make an informed decision towards purchasing your dream car.

Make the Car Buying Process Smooth

Primarily, go to the www.equifaxsecurity2017.com. Type your last name and the last six digits of your SSN. You will be able to know if your data is compromised or not. If you are at risk, you can take the following preventative measures and secure your financials.

1) Risk: Identity Theft in your Name

Prevention: The biggest threat to a data leak is identity theft occurring in your name. An identity theft refers to using another person’s information to fulfill fraudulent practices. The preventive measure against an identity theft is to freeze your credit report. Essentially, a credit freeze locks your report and prevents your creditors from viewing it. No new accounts can be linked to you as a credit freeze reduces the possibility of access to personal information. Therefore, you can purchase your new car without the fear of an identity theft taking place during the auto-loan transaction.

2) Risk: Unauthorized Purchases on your Credit

Prevention: Often, we forget to track our credit expenditure. In times when your credit information is vulnerable to exposure, you should take utmost care of unauthorized purchases made on your credit. Additionally, credit monitoring is an important tool that will help you to keep track of credit reports. Any suspicious activity gets noticed as long your credit is monitored. Credit monitoring is helpful for people with a low credit score who wish to purchase a new car. Thus, it becomes simpler to track any outstanding amount and one can decide on a larger down payment on the auto loan in accordance to their credit report.

3) Risk: Fraudulent Activities

Prevention: The data leak of 143 million people poses a serious risk for the initiation of fraudulent activities. A fraudulent activity such as overspending on your credit card or filling wrong tax returns can disrupt your credit report. Preventive measures in the form of fraud alerts can play a very important role in protecting you from such deceitful actions of cybercriminals. A fraud alert gives you complete control over the process of applying for an auto loan. Also, you will get a notification if anyone applies for credit in your name. Only after reasonable verification will the process move ahead.

The Equifax 2017 data breach was a sad event. However, it was also an eye-opener in the midst of an unaware world. Along with a surge in the risk, there are enough ways to protect ourselves from the ill effects of the data breach. Therefore, work towards maximizing the scope of preventive measures and obtain an auto loan to buy a car.

Are you looking to buy car with bad credit, but worried about seeking an online auto loan approval? Work with EZAutoFinance.net. The company works with GoDaddy.com to provide a secure online process to car buyers. Submit your loan application on the secure website and get ready for instant auto loan approval.


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Sat, Sep 9th - 3:14AM

The Low-Down on Buying a Car with Low Down Payment

When you select a car at the dealership lot, you will face the inevitable question of the down payment. Putting money down and buying a car is an age-old tradition. It gives the lender a chance to witness your financial condition and allows you to lower the loan burden. In an ideal scenario, it is best to make as much down payment as possible. But, we do not live an ideal world. So, what should you do when you do not have enough money for your dream car?


Can you buy a Car with Low Down Payment?

Buying a car feels like being on a trial. The lender considers your credit score, payment history, monthly income and several others aspects of your life before approving the loan. And, when you can only afford low down payment, it can cause trouble. But, do not think that having no access to cash means putting an end to your car dream. There’s one thing that can change the game. Have you heard about LTV?

A loan-to-value ratio is the percentage of the loan amount in relation to the total cost of car. The higher the LTV, the lower will be the down payment. It means that if the lender approves you for a higher LTV, the need for making a large down payment becomes redundant. So, how can you get the lender approve you for a large loan amount?

C = Credit Score must look Good

It is the most common suggestion for obtaining any type of credit. It seems easy for the one who tells it, but difficult for the one who has to follow it. But, do not worry because you have help from the July 1, 2017 credit rule. If you have incomplete tax liens and inaccurate civil debts listed on your credit report, the credit bureaus will remove it. It can lead to a rise in your credit score. Even you can contribute to the rise by paying off a few debts.

C= Cost of Car should be Low

A low down payment becomes easy when the cost of car is low. If you do not have sufficient cash to make a down payment of at least ten percent of the cost, you can choose an inexpensive car. It will convert the inadequate down payment into one that’s just right for the lender. Settle for a used car. Avoid buying expensive add-ons from the dealer to keep the cost in check. Also, you can use your old car for trade-in and eliminate the need for down payment.

C = Cosigner can be your Savior

When in doubt, seek help! You can use a cosigner to convince the lender of regular payments. Once he sees you as a less risky investment, he may approve you for a larger loan amount. Remember to choose a cosigner with a good credit score so that the lender can rest his doubts about receiving back his money. Choose someone who will be capable of making monthly payments, if you fail to do so. If getting a cosigner is becoming a bit of a problem, you can ask any of your parents or your partner to become a co-applicant on the loan. Their credit score will strengthen your loan application and enable the lender to see you as a worthy borrower.

Buying a car with low down payment is not possible for everyone. But, if you work hard to increase LTV, you will have no trouble in buying a car. So, before you head down to the dealership lot, work out the details and make sure that you get approval for a higher loan amount.

A low down payment auto loan can solve your troubles and enable you to obtain higher LTV. Apply with EZAutoFinance.net and get an opportunity of buying a car without down payment. Work with the bad credit auto financing company today and ensure a stress-free car buying.


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Fri, Sep 1st - 4:44AM

The Income Factor while buying a Car: Influential or Irrelevant?

The paycheck of your income is spent over a number of things ranging from household items to your monthly payments and dues. When you purchase a car, the gross monthly income becomes a key factor in order to ascertain your creditworthiness. Income provides a clear gateway to the lender to evaluate your plan of repaying the auto loan. Asking the right questions can help you gain clarity on how income can play a huge role in buying a car. A question we frequently struggle with is: Is income influential or irrelevant to the decision of purchasing a car?


Buying a Car: Is your Income important?

So, which income-related questions should you ask yourself as you ascertain the purchase of your car?

Q1) Can I leverage my strong debt-to-income ratio in order to obtain a new car?

The common misconception surrounding cars is that the difference between the incomes of two people determines your auto loan approval. In other words, it is to say that a person with a higher income would be more likely to purchase a new car or get faster auto loan approval. However, a lender ascertains your creditworthiness primarily through your debt-to-income ratio and then through the value of your income. A debt-to-income ratio compares your monthly debts against your income before taxes. Lenders consider a debt-to-income ratio of 36% or lower favorable. Therefore, a strong debt-to-income ratio will put you in a good position to purchase a new car with a long life and low maintenance costs.

Q2) Will I be able to manage the interest rates?

The most effective way to plan the purchase of your car is by assessing the total amount of the auto loan including the interest rate. A winning move to earn you brownie points while negotiating a lower interest rate is to pay a large down payment. The more money you put down, the larger will be your savings in terms of interest rates over the loan term. As you pay a portion of your income in the form of a down payment, it improves your creditworthiness and provides less risk to the lender.

Q3) Can I improve my approval chances with a high credit score?

Along with a good income, a good credit score equally increases your chances to get approval for the auto loan. A good credit score positively displays how well you have managed your finances and credit. A FICO score of 700 or above is ideal for quick approval. You could start by improving your credit score before you set out to purchase your car. A few methods to build your credit score include paying off any pending debts, keeping a low balance on credit cards and becoming a cosigner. As a good credit score can overshadow the situation of a low income, it becomes imperative to get your credit score to an ideal level before purchasing your next car.

Purchasing a car is no longer a luxury but an absolute necessity. So, naturally, while purchasing a car we want to make sure we get the best deal. In order to purchase your dream car, you need to ask yourself the right income-related questions and evaluate your financial standing. Moreover, with the right preparation about debt-to-income ratio and credit score, you can get one step closer to the car of your dreams.

Having limited income doesn’t mean you cannot fulfill your car dream. With EZAutoFinance.net, a low income auto loan becomes possible for you. Apply with the trusted bad credit auto financing company to overcome every car buying obstacle.


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Tue, Aug 8th - 5:18AM

Learn the Most Important Thing while buying a Car with Bad Credit

For many of us, buying a car is a way of fulfilling a life-long dream. Even though a car purchase is a common phenomenon, many make mistakes and end up paying with their credit scores. When dealing with the four-wheeled beauty, you must be diligent and strive to get the best deal. No matter what you do, there is one important thing that you cannot miss while buying a car. 


Research: The Key to buying a Car with Bad Credit

If you have a bad credit history or any other problem that makes your credit application weak, the game changes for you. In an ideal world, the lender and the dealer should treat you as they treat a good credit borrower. You should be able to buy a car of your choice and obtain affordable interest rates. However, the real world is cruel and you will face discrimination on the basis of your credit score. If your credit score is below 580, lenders will consider you as a risky credit seeker and ask you to bring a down payment and a cosigner. So, how to come out as a winner and buy your favorite car with bad credit?

If you are unable to buy a car quickly, you need to research. Knowledge is power. And, when you do not have an upper hand while buying a car, you need all the knowledge in the world to secure the best deal.

Do you really want a Car?

When you are buying a car, it is important to take a hard look at your financial situation. Can you afford to buy a car? Will monthly payments put a burden on you? If you need a car to commute, it is essential that you cut down on your expenses to ensure regular monthly payments.

Spend time in selecting a Car

Thinking of buying a car and selecting a car are two different things. Do not settle for a used car because you cannot afford a new one. Search for discontinued car models in your area so that you can get your hands on a new car at a reduced rate.

Visit more than One Dealer

Never deal with the first dealer you visit. Even if you are in a hurry to buy a car, make sure that you visit at least three dealerships. Learn the different car options available at the different lots. Talk to the salesmen and negotiate an affordable price for the car. Also, search online and learn about auto auctions to get the best deal on a used car.

It’s Time for Auto Loan Research

If you do not make a right auto loan decision, it will pinch you every time you make the payments. So, find a bad credit guaranteed auto financing company who works with bad credit car buyers. Ask questions about their loan process. If you are a member of a credit union, you can seek financing from them.

Do not worry about getting negative hits on your credit score. Fair Isaac Corporation understands that one cannot obtain an auto loan without rate shopping. If you find an auto loan within 30 days, the different inquiries will not have a negative impact on your credit score. So, do not worry about working with different lenders to find the best deal.

The Bottom Line

When you credit score is not excellent, you need to spend more time in research so that you do not end up paying more. Do not make a hasty car buying decision. Spend ample time in researching a car model as well as the lender. Remember that the time you spend now will leave you stress-free forever.

When buying a car with bad credit, a pre approved auto loan gives you ease and comfort. Work with EZ Auto Finance to find the best bad credit no down payment auto loan in your town. Apply now to enjoy low interest rates on your next car loan.


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