|Auto Loan Essential Information
||Mar 29th, 2013
When you are approved for a car loan the lender typically
will set the maximum monthly payment for which the loan is approved. Generally,
the maximum payment is either 12% to 18% of your gross monthly income or 45% of
you income less your monthly obligations.
Other items to include in the budget are the total cost of
ownership of the vehicle. When comparing the total cost of a vehicle consider
such things as insurance rates, gas mileage, and repair costs. To mitigate
repair costs we recommend including an extended service contract with the
vehicle at time of purchase.
Consumers with a poor Fico score pay higher finance rates
than consumers with Fico scores above 700. If you have a Fico score below 700
we recommend buying a car that meets your basic transportation needs. Wait
until your Fico score improves before buying a more expensive automobile.
If you have a low credit score we recommend selecting with
the shortest repayment term possible. This will allow you to trade out of the
vehicle, and finance another car at a better interest rate, much quicker if
your credit improves.
If you have negative equity, consider buying an affordable
new car with a cash rebate. A lot of folks in Arizona fall into the negative
equity trap. This cycle occurs by continually buying more expensive cars and
rolling negative equity from their pervious car loan into their next auto loan.
In fact the only way to avoid rolling money on to your new
loan is to own you car until the lien is paid, use enough money down to cover
the previous lien, or buy a car that you can pay off fast. We should also
mention that in most cases, if you the money you own on your used car trade in
is greater than the lien amount, it is probable that your new auto loan payment
will be higher than the payment on the vehicle you are trading in.
|How to Fix Your Credit Score
||Mar 29th, 2013
Millions upon millions of people wonder how to fix their credit scores in these tight economical times. Some just don't know where to begin? UsedCarLoansAZ.com understands it can be difficult at the end of each month to come up with the much needed cash to pay those bills. We also know; if you get behind and your credit rating declines, how important it is to fix your credit score as soon as you can. UsedCarLoansAZ.com can connect you with a local dealership that is geared to resolve your poor or bad credit situation. We give car loans to just about anyone with our no credit check policy and you will appreciate the value of used cars when you come to us for your next pre owned auto purchase.
Take These Steps to Correct a Bad Credit Score and Apply for a Used Car!
A great way to deal with a poor or bad credit score is to re-prioritize your monthly payments. By doing so, you ensure your credit card and loan payments are at the top of your list. Always make loan payments on time and for the full amount requested. UsedCarLoansAZ.com recommends that you never ignore overdue bills. If you are having difficulty paying your debt, try calling your creditor to ask for different repayment arrangements. You will find many creditors are understanding and flexible. You should avoid overextending your credit. It may be quite tempting to use those unsolicited cards you receive by phone or find in your mailbox, but you should avoid these promotions at all cost!
If you've done your credit rating research, you will be aware of what kind of credit you possess. It is best to stay away from finance companies with easy loans at high interest rates. These loans usually have a negative impact on your credit score. High outstanding balances on your credit card debt and numerous credit applications are not viewed favorably by potential lenders. Creditors love to see a considerable space between your credit limit and credit balance. Just remember, the longer credit history you have as a good customer with scheduled payments on time, the better chance you have of fixing your bad credit. Many lenders will perform a "goodwill adjustment", if you formally request it.
If you don't have credit, UsedCarLoansAZ.com advises you obtain a secure credit card with a credit line equal to the deposit you've made. Secure credit cards are an invaluable tool especially for bankruptcy clients to use. You should review all entries on your credit report as some information may be outdated or incorrect. To challenge an entry and have it corrected, write a letter to the credit reporting agency providing documented proof of the error.
Tips on Things to Avoid While Improving Your Credit Score!
UsedCarLoansAZ.com has a word of caution on actions to avoid while trying to improve your credit score. It is inadvisable to make a request to a creditor to lower your limit as this will lessen the gap between your balance and your credit limit. Try not to make too many late payments for, interestingly, this will damage a good score more than a bad one. With bad credit, you probably already have many negative entries on your report and one more will not make much of a difference. You should not transfer many small credit balances to one credit card with a large balance. Creditors don't like to see big credit card balances! Finally, don't apply for new credit if you have more than enough other credit. In this case, car loans are the best way to go! UsedCarLoansAZ.com loans point you in the right direction to change your credit perception by showing you the value of used cars.
| Instant Approval Auto Loan Financing
||Mar 29th, 2013
It's good to know at UsedCarLoansAZ.com you can receive Instant Approval Financing on used cars for sale right here in the Phoenix and Mesa Metro area! Our goal is to provide you quick and easy access to financing for a well-conditioned, high performance used car, truck or SUV. All you need to qualify for a UsedCarLoansAZ.com loan is fill out our 1 minute application to get started! Even if you are divorced or a non-resident; even if you are bankrupt, consumer proposal, bad credit or no credit, your income resources get you the money to buy the car best suited to your unique situation and lifestyle. We guarantee it!
Get Ahead in Life and Mobile with Our Instant Approval!
UsedCarLoansAZ.com has a wide variety of local dealership locations that we work with! We can extend funds to anyone! We are proud to assist Phoenix and Mesa residents who desperately need transportation but don't qualify for traditional financing. We will approve you for up to 20% of your net income. Our Instant Approval Financing is aimed at your car ownership success! With our loan payment options, you can improve your credit within your budget.
Acceptable income sources to qualify you for an Auto Loan:
Child Tax Benefits
Disability and Social Assistance
Student Tuition Funds
Instant Approval Financing with No Credit Checks!
Get started today to find out how you can get a used car loan and a great deal on an exceptional used car, truck or SUV.