How to Finance Your Next Car Purchase; Any Credit Auto Loans
Monday, April 13, 2009 7:36Are you worried about getting a car loan in these tough economic times? Getting a car loan can be very easy if you know what you are doing. Here are some tips on how to get an auto loan:
1. The first thing that you should do is put together a monthly budget of your expenses so you can see the amount of money that you can afford for a car payment.
2. The second thing that you need to do is to put together some money for a down payment on the car. You can get a lower car payment and a lower interest rate if you put down a decent down payment. You should try to put down at least thirty percent so that you don’t have a hefty auto loan to deal with.
3. The third thing that you should do is select three types of cars that you might like to own; then go view them at a car dealership. It is important to weigh your pros and cons when selecting a car to buy because the loan is a huge responsibility.
4. The fourth thing that you need to do is serious discuss financing with a few car salesmen so that you can see what types of car financing that they offer so that you are prepared when you go to apply.
Getting a car loan is now very easy through Any Credit Auto Loans. This company helps consumers to find the best auto financing available; the company says that your prior credit history does not matter. They will help you get an auto loan no matter what your credit history looks like. This service is free and consumers can begin the process by filling out an application. The application is pretty short but it can be very beneficial to helping you find a great place to get your car financing. The whole process takes less than 24 hours and you will learn very fast if your application has been approved. They will help you get the car that you want in no time!
Rose | MN Law Advice says:
April 16th, 2009 at 9:45 am
Yeah, paying a much higher deposit will result to lower monthly dues and interest rates. This is what we did when we purchased the house. Thanks for sharing some more tips.
Custom Promotion Products says:
April 16th, 2009 at 1:48 pm
Very well developed thoughts and tips. I’m not in the market to buy a car at the moment but when the day comes I’ll keep your advice in mind. Great post!
decorating courses says:
April 21st, 2009 at 2:31 pm
I have just purchased a new car and got a loan. Would have been pleased if I found this post sooner
Jeff from Saab Dealers says:
April 21st, 2009 at 3:19 pm
to finance my car, i tried to compare the different auto loans available on the market. But soon it was a hell to do the comparison. Then i came across this site http://www.bankrate.com, it allowed me to isntantly compare different loans and interest rate. Finally i was able to buy theright package to buy the car of my dreams
Hope this helps…
Nick says:
April 24th, 2009 at 10:30 pm
This looks great for many of my customers. We do our best to connect them with an auto loan however sometimes their credit just isnt good enough. Good Link!
Nick’s last blog post..The Best Family Friendly Vehicles
Carl from Japanese Performance Car Blog says:
May 6th, 2009 at 9:21 am
Another idea would be to use your old car as a down payment, that’s what i did.
hotelbackpacker says:
May 6th, 2009 at 9:35 pm
Wow this is great. But for the present economy, getting a car loan is not yet feasible for me. Anyway, your post already gave me an idea that I can have my own car soon….
Ally Car Insurance says:
May 29th, 2009 at 9:45 am
Don’t forget to also get a car insurance quote before purchasing your new car. Insurance rates can vary quite a bit based on the type of car you are buying.
Ally Car Insurance’s last blog post..Wisconsin Car Insurance Rates To Increase
tim from morgage calculators says:
May 29th, 2009 at 10:05 pm
I’d also add using the internet to get the lowest price and interest rate. Its a quick easy way to play all of your local dealers against each other. I bought a jeep last year and even got free oil changes for 4 years. That’s about a $500 value!
tim’s last blog post..Is Mortgage Refinancing for You?
Terry from Nursing Scrubs says:
June 1st, 2009 at 2:58 am
I agree with Carl. But if you have the time, it is better to sell your car independently. That way, you can get the most money out of it. Sell it on eBay or something.
Sid Savage Auto Dealer Supply says:
June 1st, 2009 at 1:01 pm
Great tips. I would agree put as much down as possible to keep your monthly payment lower.
Daniel from unsecured personal loans says:
June 2nd, 2009 at 12:33 am
You will get the most value from a private party sale. I would never trade in a vehicle unless I was in a pinch. If you are buying a new vehicle there are tons of 0% – 2.9% offers on all the major auto manufacturers. Just make sure you watch out for the guys that may be going under!
Daniel’s last blog post..Transferring Balances in Credit Cards
Credit from Credit Card@yahoo.com says:
June 12th, 2009 at 5:31 am
was in a pinch. If you are buying a new vehicle there are tons of 5% – 10.9% offers on all the major auto manufacturers.
stock market charts says:
June 21st, 2009 at 2:01 am
I think it is much better to take a loan rather then purchasing the car on direct cash. Loans are better since you do not feel the load of repaying it as it has EMI system.
Jen from unique wedding favors says:
June 30th, 2009 at 11:22 pm
Good post. My second car is on its way out and I am worried about the finances it will take to get another one. I do know that visiting at least 3 dealerships and negotiating with all of them can get you a great deal especially in this economy. Good advice with putting 30% down, but that may be hard right now. Good info anyways.
Daniel from billiga bilförsäkringar says:
July 6th, 2009 at 2:07 am
Your right, it helps a lot to be able to put a down payment on the car it will bring down the price quite a lot. It worked for me.
Terry from Laboratory Coat says:
July 7th, 2009 at 11:15 pm
Here’s a suggestion if you are looking to avail of dealers’ extended warranty offer. Don’t do it. Instead, deposit the money you would have paid for the warranty in an bank. If the car does suffer problem immediately after expiration of the manufacturer’s warranty, you can use that money.
If the vehicle does not break down, then you can use that money in the bank for downpayment for your next car thus reducing the amount you need to borrow from auto loan companies.
E commerce Web development says:
July 8th, 2009 at 4:19 am
yes, Good suggestion but if you will pay more money in deposit then your monthly dues will be low and profit will remain minimum.If any one interested in managing a website for company please contact us.
Trivia Games says:
July 15th, 2009 at 8:45 am
Loans are good to take for purchasing a car. You will find a number of options where you can find a loan for a car purchase. The repayment time is also good enough.
aftermarket truck part says:
July 22nd, 2009 at 10:05 pm
Well, auto loans really help consumers to budget their payment for their autos. However, if we compute the interest earned by financial institutions that offer auto loans, they gain a lot from consumers. So it really depends on the consumer if he can afford to purchase a car on cash or if he will do it with auto loans.
Ruri from Free article submission says:
July 31st, 2009 at 3:56 am
In my opinion for first car purchase, we don’t need to buy brand new car. There are a lot of old car, at least made on 2005-2008 that still good with better price. To save more, better use manual gear car than automatic.
.-= Ruri@Free article submission´s last blog ..A Quick Overview of Employment Law in Illinois =-.
Flagdom says:
August 4th, 2009 at 11:35 am
I have never been much of a fan of borrowing money for anything. I believe the paying cash is the most stress free way to buy a car. Its simple…if you don’t have the money..you don’t buy it. I pay cash for everything.
Factory Service Manual says:
August 25th, 2009 at 12:24 pm
I just bought a 2005 car with interest rate 5.495% from a credit union. I think that’s the best rate I got for my area, especially for used car that’s like 4 years old already, and my credit is considered decent…
.-= Factory Service Manual´s last blog ..Auto Repair Manual =-.
Sue | Used Cars says:
August 28th, 2009 at 6:29 am
I have just come across this site and have found it to be informative and interesting.
There is a lot to take into consideration when one is looking at buying a car, I wish I had this information when I first bought a car, but ill keep this in mind when I one day buy a new car thanks for sharing.
knoxville auto repair says:
August 28th, 2009 at 11:55 am
Well, now that the Cash For Clunkers program has just ended then financing may be a bigger issue. I liked the Cash for Clunkers program because it got many old beat up low gas mileage and high polluting cars off the road and gave consumers a break, plus the stimulation of new car sales.
Karen from Used Cars In My Area says:
August 31st, 2009 at 2:31 pm
Thank you for being the voice of reason regarding your car buying tips. In these financial times, having a substantial down payment and good financing is as important as selecting the make and model of an automobile. Having a favorable credit history and shopping for the best auto financing are critical components of buying a car, too.
.-= Karen @ Used Cars In My Area´s last blog ..Buy a Preowned Car =-.
adele from Dirt Cheap Auto Insurance says:
September 1st, 2009 at 2:49 pm
While some argue that the “We finance anyone” dealerships can take advantage and gouge someone with their interest rates, the truth is that without them, many people just wouldn’t be able to get a car.
My first car, when I was newly-divorced and my credit in shambles, wouldn’t have been possible otherwise.
Adele
.-= adele@Dirt Cheap Auto Insurance´s last blog ..California Auto Insurance Zone =-.
jun from make money online says:
September 2nd, 2009 at 3:08 am
Well, Im still ok with my old car, nothing fancy as long as it runs, economy is not good at this time so i keep and save my money no luxury at the moment.
Web Design UK says:
September 2nd, 2009 at 5:52 am
I was searching for the same solution about Credit Auto Loans and finally i found you through Google search
mind blowing!.
Joe from air compressors says:
September 7th, 2009 at 11:09 am
Interesting finance offers in present economic condition is attractive for buyers. I am also tempted to go for new one. You have a nice blog bringing you the latest breaking news, top stories, auto shows and more from across the industry.
Auto loan tips says:
September 15th, 2009 at 9:05 pm
Great post. It is harder now because people just do not have the money to go out and buy a new car.
People are also afraid to buy right now fearing they may later lose their job and now have this car payment they can’t afford.+I went through BMW financial .9% ZERO DOWN! For people like me it’s all about rate get the rate down and people will buy.
Pete from Cheap Loans says:
September 17th, 2009 at 6:27 pm
Yeh you can still get big loans I have found for a nice shiny car even with um less than perfect credit rating
I should know I broker them as well 
P
Elvenrunelord SurveySeeker says:
September 20th, 2009 at 3:15 pm
I think anytime you have to use a loan to by something you are living beyond your means. The loan system has allowed capitalism to increase the prices of goods and services above what the average person could ever hope to save and purchase for cash.
This in my opinion has helped create the bubbles that keep popping in our economy every couple of decades or so and a trend that needs to be stopped.
You want to control inflation, you have to cause everyone to realize they are no where near as valuable as they really think they are and that bigger is not better, only bigger and harder to achieve.
Nothing wrong with competition, but when it leads to millions of people starving then we as species who has risen above its fight or flight evolutionary stage have failed in our ascension goals and need to take a look at where we will end up if we keep following this path.
Jack from instant payday loans says:
September 22nd, 2009 at 5:47 am
Thanks for the great tips. Getting an auto loan on the time of economical downturn could be not so easy, but it is still possible. I have got it few weeks ago. What is my secret? I have done everything in a similar way, which is described in this article, and I succeeded. So don’t think that there are only empty words, just try and maybe after few weeks you will be driving your new nice car!
mike from cheap auto insurance says:
September 29th, 2009 at 5:03 am
Thanks guys, I really need tips by this time. We have to be open with all the tips and suggestions..
.-= mike@cheap auto insurance´s last blog ..California Auto Insurance Zone =-.
Cars in Chesapeake says:
October 13th, 2009 at 2:09 pm
So many car dealerships are offering special financing. You can get 0% on a lot of models if you have good credit.
Damon from Honest Debt Settlement says:
November 4th, 2009 at 11:27 pm
Car Dealers are really getting hit hard from both ends right now. On one hand consumers are not buying cars and on the other hand, Banks are not willing to finance most consumers that want cars. So this makes an already weak demand turn into even less sales. The cash for clunkers program was basically a joke. All it really did, was give these dealers a little bit of a cash infusion for a month or two. The unintended consequence (there always is one when the government makes a policy) Is that it drove up the prices of used cars and used car parts. Since the government, in their infinite wisdom that they always display, decided to destroy perfectly good used cars. Why? I have no idea.
.-= Damon@Honest Debt Settlement´s last blog ..Debt Settlement Companies – Top 5 ways they can Screw you! =-.
Robert says:
November 11th, 2009 at 3:09 pm
Even those with good credit are being rejected for home loans these days. It takes STELLAR credit to qualify.
.-= Robert´s last blog ..So, How Does a College Student Save $372 Per Year on Car Insurance? =-.
paul from Car Leasing deals says:
November 29th, 2009 at 12:23 pm
Im working in the car industry now and many more people, are getting declined credit than ever, maybe its a good thing, maybe not, banks are being very selective to whome they will loan money to, gone are the days where you can just borrow what you will.
This has forced the manufacturers to only build cars to order
Texas Driver Education says:
November 30th, 2009 at 5:35 am
Its a quick easy way to play all of your local dealers against each other.The cash for clunkers program was basically a joke. All it really did, was give these dealers a little bit of a cash infusion for a month or two.
4x4 trucks says:
December 1st, 2009 at 6:26 am
Now banks or financial institution are providing easy loans systems for automotive vehicles you have keep your papers ready you will get loan in just two days for automotive industry . This huge facilities give by them at very reasonable interest rates .
ian from GMRS Radio says:
December 11th, 2009 at 12:31 am
I’ve never bought a car on financing…I don’t believe in it…I think it’s a much better investment to buy a second hand car than to get stuck on a monthly car payment…unless you have money, in which case it’s a great idea!
Juandy says:
December 17th, 2009 at 6:02 am
Hm… Those are interesting tips….
I think all those who are trying to purchase a car should read this tips…
.-= Juandy´s last blog ..Will You Be Able to Afford Young Drivers Car Insurance? =-.
pdfservicemanual.com says:
January 4th, 2010 at 1:35 pm
I think that paying bigger deposit will make the monthly payments easier to afford. Especially with the current economic situation – it will make you financial status more stable.
But the most important is to take advantage of dealerships as they have many great financing offers around holidays, some of them with 0 to 1% financing.
.-= pdfservicemanual.com´s last blog ..2003 Mercedes-Benz SLK230 Kompressor SLK320 SLK32 AMG Owners Manual =-.
mirchael from Young Driver Insurance says:
January 14th, 2010 at 1:09 pm
When prospective lenders review your report, they will take note of your credit records. If you acquire new creditors following a credit mishap, you have the opportunity to make a fresh start. Because auto loans are secured, these are easier to qualify for. Thus, obtaining an auto
loan with bad credit is perfect for rebuilding credit.
.-= mirchael@ Young Driver Insurance´s last blog ..Two Types of Young Driver Insurances =-.
Buffalo Chevy Dealer says:
January 20th, 2010 at 12:49 pm
Don’t let a lot of the comments on here scare you. We run a Chevy Dealership in Buffalo, and we find that with even if your credit is poor you can still secure financing most of the time…just don’t expect 0% APR…http://www.heinrichchevy.com
Greg from Garmin says:
January 20th, 2010 at 1:26 pm
Yes I am worried about getting a car loan. But Your tips is awesome. It can help me. Thank You!..
priya from auto loan calculator says:
January 21st, 2010 at 1:17 pm
well i think all the four steps are very crucial in taking auto loan and you can’t skip or neglect any of them and if you do that then its you only who will suffer.
Rob says:
January 23rd, 2010 at 1:39 am
You can save a good deal of money leasing cars, if you simply stick to the monthly lease specials that are offered. Shop, compare; find the best one, then negotiate an even better deal through your dealer.
.-= Rob´s last blog ..Best Gas Mileage Cars to Lease =-.
car service says:
February 1st, 2010 at 7:27 am
Or even better, don’t get your loan through the dealer! If you have an outside-sourced loan and the cash ready to hand over, you have infinitely more bargaining power. Brush up on your haggling techniques beforehand (just Google it – there is HEAPS of advice), and go in with the power of the unequivocated hundred dollar bill
Asher from New Jersey Limousine says:
March 8th, 2010 at 12:04 am
New vehicles do not always offer the best deal. A used car with very low kilometers and timely service history is often a good option when you MUST obtain finance for a motor car. An option that I like is called “salary sacrificing novated lease”. This permits you to obtain the car of choice and predicts how many kilometers, maintenance, and fuel costs you will use in a given financial period. There type of leasing is generally a significant savings, as the car is pre- income tax, therefore it reduces your taxable income and tax liability. The key is to achieve the kilometers that you predicted otherwise you may be required to pay the tax shortfall.
Thomas says:
June 4th, 2010 at 2:52 am
When looking to get that new car, we all know how hard it can be to get a good price on your old car. Dealers will try and offer you as little as possible so the best option would be going through a private sale. Most people get the idea this is far too complicated… But this is not the case any longer, you can list your car for free on http://www.usedcarscentre.com and it will remain on there for a long as it takes to sell your car. You can list as many cars as you like and it wont cost you a penny, even if every one of them sells as a result of being lised on usedcarcenter.com
Toyota Prius says:
June 25th, 2010 at 3:15 am
You may be able to get a loan, but unfortunately you permanently forfeit your dignity when driving a Prius.
Toyota Prius´s last [type] ..The Point of Pompous Prius
Brad Schinner says:
July 13th, 2010 at 4:15 am
Driving your own car is definitely an everyones dream.And that’s the reason why there are a lot of auto financing and loan companies that offers auto loans and most of them allows you to apply online or ever the phone.But before you commit to these lenders we must be first aware of important auto financing tips to avoid scams and other fake auto financing companies.By browsing online, we can get some important tips and articles on auto loans like this one.
Brad@CalgaryWebDesign
Mobility Scooter says:
August 3rd, 2010 at 9:58 am
There are lenders, however, who specialize in bad credit car loan financing – and can put you behind the wheel of your car now.Bad credit borrowers of automobile loans are typically rejected by many lending institutions and credit unions.
Randy from Auto Repair Shop Union,MO says:
August 6th, 2010 at 11:41 am
We sell used cars at our repair shop but due to buyers payment habits , we only accept full payment. I do suggest the best lenders in the local area if the buyer needs a loan. I find it to be less work on myself and my staff. Since most of my customers are return customers ,our relationship will not be damaged due to missed car payments. It actually reinforces our relationship.
Kansas City Used Auto Sales from Kansas City Premiere Pre-Owned Dealer! says:
August 23rd, 2010 at 1:28 pm
I’ve read through everyone’s posts, and have picked up some helpful information, especially as a relatively new dealer (been in the wholesale game for much longer). One of the main reasons we stayed in wholesale, was that we could avoid dealing with banks and finance companies.
However, now that we are doing retail sales, we’re looking to either do financing through banks, or a buy-here, pay-here situation where we finance. Seeing as a lot of you here are well-versed in this (definitely more than myself!), what would you suggest?
Thanks in advance for sharing your wealth of knowledge!
Allen Hyundai says:
August 25th, 2010 at 12:07 pm
It’s best to get financing from an outside source, never the dealer. If possible, better yet to pay in cash if you can afford it.
Ferrari Driving Experience says:
September 2nd, 2010 at 8:41 am
Avoid dealer finance at all costs, they have much higher apr rates and if a balloon payment is set, they are often totally unreallistic, leaving you no equity at the end of the term
Dee says:
September 2nd, 2010 at 1:23 pm
This is great information. A lot of people don’t realize they can lower their interest rate with a down payment. They also don’t think to check with other financial institutions. They only check with their current one. You have to save money where you can and this is a great way to do it.