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Wed, Oct 11th - 7:00AM

What is the best time to trade-in your old car?

When you think about trading your car, a million things cross your mind. The process of estimating the correct value and finding the right car to trade-in can become tedious. An old car comes with its set of repairs and expenses. Often, it becomes confusing to estimate the appropriate time to trade-in your old car. However, numerous factors are essential for optimizing its sale value. Obtaining the maximum value for your car is like hitting the iron while it is still hot. With the right set of guidelines, you can easily pre-decide the correct time to bid adieu to your old car for a new one.

Which factors are detrimental in shaping the best time to trade-in your old car?

1) Current Debt

The current debt on your car plays a significant role in deciding the correct time to trade-in your car. Its ideal time is when you have made more than half of the payments on your auto loan. Additionally, you can receive a good amount for your old car as a low debt indicates a strong sense of finance management.

2) End of the Year

Ideally, a good time to trade-in your old car would be during the end of the year. It is because most new car models are released in January. Right before the launch of a new car, dealerships wish to get rid of the previous car models. Usually, dealerships offer good discounts on unsold car models in order to create sufficient shelf space for the new models. If you trade-in your car before the launch of a new one, you will be positioned in a good place to bargain and negotiate a price that fits your budget.

3) The Age

The best way to figure out the usage of your car is to measure the total number of miles. A good time to trade-in your old car would be when your car has travelled 50,000 miles. In order to obtain the optimum value for your car, you should trade-in when the odometer reads a total of 30,000-40,000 miles. An odometer reading of up to 50,000 miles is ideal as the car would have suffered from low damages and would be in a good working condition.

4) Safety Requirements

When you face issues of safety while driving, it is a good indication to trade-in your old car. A new car serves as a reliable option as opposed to an old car that is prone to breakdown. A vehicle report prior to trade-in can heighten your chances of obtaining a better value for your old car. Make the necessary repairs and bear the damages so as to make the most of your trade-in deal.

Trading your old car is not a tedious task. Figuring out the correct time is all it takes to get the optimum value for your old car. With a few right steps, market knowledge and research about the auto industry, you can receive the best price for your trade-in.

Even if you are trading your old car to buy a new one, you need an affordable auto loan to make the purchase. Work with RapidCarLoans.net to obtain guaranteed auto loan approval on your next car purchase. Submit your loan requirements for special no money down car loans if you are looking to buy a car with bad credit.


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Fri, Sep 22nd - 2:44AM

The Mistakes That Come With a Longer Auto Loan Term

Most car buying stories start in a similar fashion. You have your eyes fixated on the new car but the high monthly payments do not match your current budget. The dealer suggests that you opt for a longer term period that reduces your monthly payments. You agree, thereby, falling into the vicious cycle of negative car equity. The common mistake while purchasing a car is ignoring the auto loan term. Additionally, it becomes all the more important to ascertain your loan term when you suffer from bad credit. Avoid making the following mistakes relating to loan term to ensure that your car buying decision is financially sound.


4 Mistakes that you can make with a Long Auto Loan Term

1) Getting into the rut of negative car equity

The longer the term on your auto loan, the more the build-up of negative equity. A shorter term period lessens your overall auto loan amount. Negative car equity is built when you owe the lender more than the current worth of your car. A longer time frame on your auto loan means additional interest amount whereas a short term period builds positive equity and helps you to obtain a higher amount during a trade-in or resale.

2) Paying high interest rates

The interest charged on an auto loan is the additional money you pay, over and above the price of the car. Ideally, it makes sense to opt for a shorter loan term with low interest rates. When you increase the length of the loan term, you are increasing the dollars you spend on the car. Make sure you consider the whole picture and take into account the overall loan amount along with the loan term when you purchase your next car.

3) Receiving a low resale value

A low resale value is reason enough to steer clear of the extra-long auto loans. The time you take to repay the auto loan amount significantly impacts the resale value of the car. The car value starts depreciating the minute you drive it off the dealership lot. In regards to the length of the loan term, a five-year old car is more favorable than a seven-year old car. Therefore, the shorter the loan term, the more resale value you will obtain when you sell the car.

4) Spending on high maintenance costs

Car fatigue is another reason to switch to a shorter loan term. Once you have hit your five-year mark on a car, a trade-in might be right around the corner. The average age of a car during a trade-in is five years. However, if you opt for a 72-month auto loan, the option of trade-in diminishes and your maintenance cost increases. Thus, a shorter term will not only get you a favorable resale value, but will also reduce your car maintenance costs during a trade-in.

The Ideal Solution

Every problem has a solution. A large down payment, opting for a bad credit auto loan and showing strong evidence of your sources of income will assist you when you face a difficult situation. Additionally, keep in mind the impact of negative car equity and high interest rates. Stay determined to repay your auto loan amount within a shorter time and make sure to improve your credit score for a smooth car purchase in the future.

RapidCarLoans.net offers low rate auto loans to bad credit car buyers. It makes affordable monthly payments and improvement in credit score a reality for people with credit issues. So, next time you need an auto loan, work with the bad credit auto financing company and get ready for quicker purchase.


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Fri, Aug 25th - 1:18PM

Cosigning Conundrums & Solutions: How to get an Auto Loan without a Cosigner?

The common question running through a first time car buyerís mind: ďIs it possible for an eighteen year old to purchase a car when the cosigning parent has a bad credit history?Ē Bad credit score, zero credit history and inadequate information about auto loans can compel you to think that having a cosigner is the only way out. A cosigner can drastically improve your chances of getting approval for an auto loan. However, purchasing a car is still possible in times when you cannot find a cosigner. Moreover, breaking some common conundrums about cosigning can provide a great deal of clarity in order to obtain the auto loan for your dream car.


Buying a Car without a Cosigner: Unravel the Mysteries

Buying a car without having a cosigner can be a tricky task. Many car buyers are ignorant about what happens when one doesnít have a cosigner. Do not make an ill-informed buying decision. Learn which cosigning conundrums keep us from buying a car and what are the solutions to break them?

1) Conundrum: Without a cosigner, I am bound to pay high interest rates.

Solution: A huge down payment is the ultimate evidence of your credit worthiness. A lump-sum amount at the beginning of the auto loan term will put you in a good position to bargain for good interest rates. Additionally, putting money down reduces the amount of your monthly payments. Remember that more the down payment, the lower will be your future auto loan payments. Once you put a good amount of down payment, the approval for the auto loan will not require a cosigner.

2) Conundrum: I need an exceptional income record for obtaining auto loan without cosigner.

Solution: If you have suffered from bad credit in the past, your creditworthiness is assessed by your current income. The amount of monthly income along with the stability of the employment plays a huge role in determining your reliability. A minimum monthly income of $1,500 is considered ideal for getting an approval without a cosigner. However, the minimum income requirements vary from lender to lender. Therefore, make sure you keep regular track of your income pay stubs and use it as leverage to obtain an auto loan without a cosigner.

3) Conundrum: If I donít have a cosigner, I cannot buy a new car.

Solution: When you do not have a cosigner, it may seem that new cars are out of reach. But, it is far from truth. A used car with a low price tag looks less risky to a lender. However, your options do not end there. With a strong FICO score and regular efforts to build a strong credit, you can purchase a new car even without a cosigner. In order to improve your credit score, build a good debt to income ratio, keep your credit utilization low and make timely payments. Once you have a good credit score, you can purchase a new, more reliable and updated car.

It is common to think about all the support you can get while applying for an auto loan, a cosigner being one of them. However, it is possible to obtain an auto loan even without a cosigner. With the rightly calculated moves, your dream of obtaining a new car will not require the pillar of support in the form of a cosigner.

Buying a car without cosigner can become easy for you. Work with RapidCarLoans.net to get approval on no cosigner car loans. Do not worry if you have a zero credit history. Apply for zero credit auto loans and begin building a stellar credit history.


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Fri, Aug 18th - 11:12AM

3 Cís that guarantee Houston Bad Credit Auto Loans is no Rocket Science!

Houston! We have a problem!

A majority of Houston residents use car to commute daily. It is a means to earn their daily bread and butter. However, Houston seems to have a problem with car buying and the reason behind it is bad credit score. Many car buyers in the Space City are staying away from making a car purchase because of a damaged credit score. However, there is a way in which you can buy a car with bad credit. Letís learn how to go over the moon with an easy purchase.†


How to make an Easy Bad Credit Car Purchase in Houston?

Buying a car with cash has become once in a blue moon event. With rising cost of vehicles and reducing savings, it is nearly impossible to buy a car with cold-hard cash. If you have set your heart on a car, do not wait for getting together the total price of the car. It may take too long to save the amount and you may end up losing the car. When you have a bad credit score, it is best to work with a subprime lender who can help you sail through the process easily. To obtain guaranteed auto loan approval in Houston, you need to follow a few simple rules. The bad credit auto loan rules are not set in stone. But, it is essential that you keep them mind while preparing for the process.

Check Credit Score

Did you check your credit score a couple of years ago? Did a lender tell you about your terrible credit score in the past? Do not sulk in the past. Your credit score may have improved considerably after the July 1, 2017 rule. The credit bureaus no longer consider tax liens and civil debts that have inaccurate and incomplete information. In the past, many credit seekers were forced to suffer with a bad credit score because of inaccuracies in their credit reports. However, with the change, your credit score is bound to rise. So, it is essential to check your credit score before moving on to the car buying process.

Cash Matters are Serious

The median income for a household in Houston is $37,000. The per capita income is $20,000. Although Houston is considered as a rich city, about 19% of the population lives below poverty line. And, it makes buying a car in cash nearly impossible. Do not worry if you cannot buy a car with cash. No one really does it anymore! But, you still need to manage at least 10% of the total cost for a down payment. Remember when your credit is bad, a little bit of down payment can help you to get guaranteed auto loan approval.

Consider selling your old car or seek a loan to get together money for down payment. If you want to avoid down payment, you must find a lender who is willing to offer you no money down auto loan in Houston. Most traditional lenders require down payment so, search the web for online auto financing companies.

Cosigner helps a LOT!

A car can become a source of lifeline in Houston. The city has so much entertainment to offer in the form of theatres, music centers, parks, sports and more. When you are in a dire need of car, do not shy away from asking help. Ask your family or friends to become a cosigner for your Houston bad credit auto loan. Having a cosigner will provide assurance of regular payments to the lender. It will help you to create a positive image in the mind of the lender. It means getting low interest rates will become a reality for you.

So, ask your parents to help you with the car buying process. Find someone with a good credit score to become your cosigner. If your cosigner has had a few late payments and bankruptcy in the past, the lender will not accept his application. In such a situation, you can rely on a no cosigner auto loan.

Buying a car with a damaged credit score doesnít mean saying yes to any loan term. Many bad credit borrowers avoid undergoing the process of buying a car in Houston because they believe no lender, under the sun, will help them make a purchase.

Remember buying a car with bad credit is no rocket science. It is simple when you work with the rules. Follow the rule of 3 Cís to obtain a bad credit auto loan in Houston easily.

Buying a car with credit issues can seem an uphill task. But, with the right help, you can get guaranteed auto loan approval. Work with RapidCarLoans.net to secure bad credit auto loan in Texas. Apply now to become a happy car buyer.


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Thu, Aug 10th - 10:57AM

California Bad Credit Auto Loans: Kill Two Birds with One Stone

According to California DMV, total number of registered vehicles in the state is 35,310,563. Out of the total amount, 25,244,537 are cars. It means the total car population of the Golden State is 25 million. It goes to show that Californians love cars. And as more and more households and businesses are added to the state every year, it puts additional burden on the stateís public transport, making car as the only comfortable mode of transport for its residents.


Do you want to buy a Car with Bad Credit in California?

When it comes to buying a car in California, there are a plethora of options for bad credit car buyers. You can choose a brand new car, a certified pre-owned vehicle or even a discontinued car model to make a budget-purchase. Once you are sure of the car, you need to move over to the financing part of the section.

Bad Credit Auto Loans in California: How do they benefit?

Getting a bad credit auto loan may seem like a daunting task but you can reap multiple benefits by obtaining one. Learn how to kill two birds with one stone:

1. Get a Car

Car is a necessity in California. For people, it is a means of keeping their employment and sustaining their lives. So, if you think that you need a car, it is difficult to find an alternative. Buying a car means paying the cost of the car to the dealer as well as spending money at the California DMV on registration fees and taxes. With the rising cost of cars, auto loans have become inevitable.

Do not worry if you have got bad credit. With a bad credit auto loan, you can buy a car easily. The lender will even offer higher LTV if you have stable employment and earn regular income. Bad credit auto loans allow you to fulfill your dream of buying a car. Gone are the days when you had to plead to lenders for getting approval. Today, you will find several online auto financing companies competing for your business. So, do not worry if your credit reports reads Ďbad credití, you can buy a car easily.

2. Improve your Credit Score

With a bad credit auto loan, you not only get to buy a car in California but you also stand a chance of improving your credit score. Getting out of a bad credit situation is a reality with the loans. Usually, all lenders report your payment history to the credit bureaus. If you make regular payments, you will see a steady rise in your credit score.

With an improved credit score, you will be able to obtain better financing deals in the future. And, if you have compromised on choice of car now, you will be able to buy your dream car with an excellent credit score.

The Best Time to Apply for an Auto Loan is now!

Since July 1, 2017, the three major credit bureaus have decided to exclude records of civil judgments and tax liens that donít have minimum information such as name, address, social security number or date of birth. If you have similar information on your credit report, get ready for an increase in your credit score.

It is the best time to get your hands on an auto loan because your improved credit score will give you a better chance of finding an affordable one in California. So, do not spend time mulling over your bad credit score. Learn your credit score and get ready to apply for a bad credit auto loan. It is the ideal way of buying a car and improving your credit score. So, apply for the loan and kill two birds with one stone!

Obtaining a bad credit auto loans California is simple and easy. Apply with RapidCarLoans.net to obtain pre-approved auto financing at the click of a mouse. Get ready for affordable monthly payments now.


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