Category Archives: Used Car Loan

13 Car Buying Mistakes – How Auto Dealerships rip you off – Advice by Kevin Hunter (TBFS Radio)

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http://www.thebusinessforumshow.com/ See our latest video “TOP 10 Tips to get the BEST CAR DEAL” (10 best car buying tips / advice) at https://www.youtube.com/watch?v=Lik6d0mcNp4 Are you a savvy car shopper who needs a little car buying advice? Kevin Hunter hosts “The Business Forum Show” outlines the 13 car mistakes to avoid making at the dealership. See the new video on “Getting Pre-Approved on Car Loans!” at https://www.youtube.com/watch?v=8KSmB3HE90E Kevin Hunter spent countless hours researching and compiling the information and data shared on this video. We hope you enjoy it!

People in the car business who profit from your mistakes by taking advantage of you will rant about things we share here and disagree with the content, but don’t be fooled by their rhetoric. A dishonest car salesperson absolutely loves an ignorant car shopper. We will try to help you avoid the common mistakes, and assist you in sorting the facts from the baloney in this business. We profit nothing regardless of what you choose to do, and we don’t mind if you choose to not use the information. If you do, you’ll find yourself walking away with a much better car deal. If you don’t, you don’t have much room to complain when this stuff happens.

How do Car Dealers rip you off? This video presents 13 different car buying mistakes that you can’t afford to make when car shopping. If you’re going to car shop and don’t want to be taken advantage of, it’s up to you to learn about car salesmen and auto dealerships, and the dirty tricks they play to rip people off. You also need to learn about the scams and inappropriate products sold by both new and used car dealers, and why some things dealers offer should NEVER be purchased. These include things like the theft protection scam, GAP insurance that is sold to consumers who either didn’t need it, or could have purchased much cheaper from their own insurance agent, and extended warranties that are often sold to buyers who didn’t want them or need them. To make matters worse, there are also thousands of car dealers who employ finance officers that are some of the most unscrupulous people you’ll ever meet, willing to tell you any lie they can come up with to sell you everything I’ve described, and more. The worst ones will even claim your interest rate on your loan is only available if you buy all the added products they are proposing. They claim the ‘bank’ wants the car protected…. which is BS… On the contrary, the bank wants your loan as small as possible so if they need to repossess the car, they can get their money out of it.

This video was published to help you discover how you can save time and money on your next new or used car purchase by doing your homework first, and then going car shopping as an informed buyer.

Is it unreasonable to expect a little old-fashioned honesty? We don’t think so, but we are more than amused by the countless car salespeople or car dealers who contact us and state that we are making a ‘small problem’ sound far worse than it is. They also tell us the entire video is completely fabricated baloney. Really? Are you kidding us? We know there are honest people in the car business, and we receive positive comments from many of them, but it’s definitely a buyer beware world out on the car lot!

For all of you car buyers who are well steeped in reality, if you watched the video “Confessions of a car dealers backroom” you need to see this video. By understanding what mistakes to avoid, you’ll not only become a smarter car buyer, but you’ll also better understand what not to tell a car dealer when buying a car. It’s true that you can play all your cards up front with an honest dealer, but unfortunately, they represent the minority of dealer owners (truly transparent and honest dealers make up about 40% of all dealers), and you are unlikely to know the difference until it’s far too late. Be smart, do your homework, and you’ll come home with a car deal that’s good for you and the dealer. After all, that’s what fairness is all about. We don’t endorse anyone being ripped off, and that includes some customers who think it’s ‘justice’ to turn tables and try to ‘steal’ a car from a dealer. If you do stuff like this, that makes you a crook too, doesn’t it? When a car dealer loses money on a deal, they just take it from the next unsuspecting person. We don’t think your neighbor should have to pay for your car, so we encourage you to be fair and honest. Everything we talk about has to do with fairness and honesty, and that works both ways. Respect the dealers right to make money in your quest to get a fair and honest car deal, proving to them you’re an honest person too. It’s this kind of attitude by car dealers and consumers alike that will change the car business. We wish you the best!

Don’t forget to see our new video “Getting Pre-Approved on Car Loans!” at https://www.youtube.com/watch?v=8KSmB3HE90E
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How-to Finance a vehicle

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Nutella Bread Recipe: https://www.youtube.com/watch?v=8eHPkpCGdEY

Watch more how exactly to purchase an automobile videos: http://www.howcast.com/videos/151451-How-to-Finance-a-Car

Ensure you get the best possible terms in your auto loan by doing your homework.

Step one: get credit history
Demand a duplicate of one’s credit history by signing onto annualcreditreport.com or by phoning 1-877-322-8228. You’re entitled to one no-cost copy annually. Car loans depend on your credit history, therefore be sure there are no blunders.

Idea
You will need to scrape collectively a down-payment with a minimum of 15 %, that’ll help reduce your funding expenses.

Step 2: store if your wanting to shop
When you figure out how much you really can afford to blow on a payment per month, and before you decide to set base on a car or truck good deal, get a lender or credit union to pre-approve you for an auto loan.

Suggestion
Search online for web sites that compare existing auto-loan prices.

Step 3: concentrate on the APR
When you compare financial loans, focus on the APR — annual percentage rate — as opposed to the monthly payment. It’s more crucial that you have a reduced interest rate, so long as you makes the repayment monthly.

Tip
Withstand the temptation to invest in a car or truck for extended than 48 months. You’ll be spending such in interest that if the automobile is stolen or wrecked, you run the risk of owing over the automobile is worth.

Step 4: Play let’s make a bargain
Head to the dealership. Inform them you’re pre-approved for an auto loan, and ask all of them should they will offer you a significantly better financing bargain compared to one you’ve guaranteed currently.

Step 5: Do the math
Always crunch the numbers before agreeing to a funding plan. If the dealership offers you a choice of either zero-percent financing or a cash rebate, perform some mathematics to figure out the much better bargain.

Action 6: Pay timely
Make your repayments promptly. Late payments lead to late fees, which will influence your credit score.

Are You Aware?
The average auto loan is actually for 98 per cent regarding the cost of the vehicle.
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CNB Bazaar Buzz: help guide to purchasing a pre-owned vehicle

This few days on CNB Bazaar Buzz, we explore the used-car market through authorised second-hand automobile stores. Also, we assist you to realize various areas of used luxury automobiles, online superbike buying and finance for used cars.

Watch full video clip: http://www.ndtv.com/video/player/cnb-bazaar-buzz/cnb-bazaar-buzz-guide-to-buying-a-pre-owned-vehicle/338605?yt

How to Buy your First Car from a Dealer: Finance Method

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How to Finance your First Used Car from a Dealership. Don’t finance or buy your First Car until you watch this. It will stop you from getting ripped off and put in debt. I feel a lot of people don’t understand how Crazy financing a used car is in a financial sense. The smart way to buy a Used Car from a dealership is by paying Cash upfront. If you’re a first time car buyer, or are planning to buy your first car any time soon, this video will help you out the most!
(READ The Rest of the Description For Detailed tips and Advice)

When you go to buy a car at a dealer, there are two main ways to buy a car. The first way is by paying cash for the car. When you pay cash for a car, they sign over the car tittle (pink slip) and the vehicle immediately becomes yours. The second way to buy a car is by financing it. For the most part people finance a car when they don’t have enough money to pay for the car at once.

People put a down payment on a car and borrow the rest of the money from either the dealer, a bank, or any other auto loan company.

I financed my car with the deanship. That is called in house financing. That is the dumbest way to finance a car because they will give you a high interest rate as you seen in the video when I showed the paper. Good thing I paid it off in one month.

The smart way to finance a car is by going to a bank like Chase and getting a per-approved auto loan. If the bank approves you for a loan, when you find the car you want at the dealer the bank will pay for the car, but you will be in debt to the bank and you will pay the bank the car payments.
The quickest way to stay poor is by going into debt for a car and then spending all of your money every month to pay the car note and insurance. Save yourself by just saving your money and buying a car you can afford. That means you can buy it all at once with cash.

– How to Make Money in College: https://youtu.be/s1KMoD-Jpkc

– How to Run Faster & Get in Shape: https://youtu.be/MmijyKZAhLg

Cheapest Used Car Loan Rates – Bank Of America. Know more detail visit – http://freesecuredpersonalbankloans.com/2015/08/cheapest-used-car-loan-rates/

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Important Tips For Getting The Best Used Car Loan Rate

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There are a number of ways that you can lower your used car loan rate. All it takes is just a little resourcefulness and knowing how the loan rate works. One way to reduce your auto loan interest rate is to have a good credit record. Generally, people with good credit history are considered low credit risk and therefore pose low risks to the lenders money. That is why they are allowed to enjoy a lower used vehicle loan interest rate. To increase your credit rating, you need to do the following: pay off any current debts, make monthly payments for debts that you can fully pay off and put money into your savings account. Your savings deposit will help your credit score since this serves as your pool of funds in case of emergency.

Another way to reduce your car loan rate is to pay a bigger down payment on your used vehicle purchase. The lesser amount you borrow, the lower car loan interest you will have to pay. Still another way to lower the used vehicle interest rate is through refinancing. Refinancing a car loan is for people who already have a car loan. Refinancing companies pay your current balance. In turn, you are expected to make monthly payments to the refinancing company for a lesser interest rate.

Another thing to consider in used car loan rates is the Federal Funds Rate. Although direct correlation between Federal Funds Rate and used car loan rate could not be proven but changes in short-term cost of money do affect the used car loan rate. Although short-term loans are affected by the higher Federal Funds Rate to a certain degree what actually fund these loans are the locally-gathered deposits. The local deposits in the form of time deposits are where the lenders obtain funds or are called the cost of obtaining funds. These costs of funds are the interest you get for time deposits. As the lenders cost of funds increases, the rates on short-term loans also increases. Lenders need to attract both depositors and borrowers in order to make money. The drifting of rates is the cause why Federal Reserve moves are made from six months to a year to be fully realized in the economy which could contribute to an increase in the used car loan rate. Since used car loan rates vary from lender to lender, you should scout around for the best interest rate before choosing a lender. You have a variety of choices among banks, credit unions, dealerships and online used car loans.

Taking advantage of a used car loan is actually a good way to establish a good credit reputation. You can build credit through your car loan. A good credit standing will qualify you to buy more expensive things such as a brand new car or a house in the future. Not only that with the good credit you have established in your used car loan, you will also be able to avail of lower interest rates should you apply for a loan again. To have your used vehicle loan approved you need to get a credit report check done, meet requirements for the used car like mileage, good appearance and road worthiness. These factors will enable the lender to determine the worth of the used car.

UsedCar.net.au is a Free Used Car Classifieds Directory which offers a large database of Used Cars For Sale . You can register now and Sell Your Used Car For Free .

Top 5 Tips for Getting Great Deals on car Loans – CARFAX

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Used Car Loans help us get ourselves on your way inside car we would like. But they are we obtaining most useful deal? Consider CARFAX’s top ideas!

Transcription

If you are searching for a car or truck and should fund a few of the expenses you will find 5 methods acquire an auto loan in the cheapest feasible interest rate plus the most useful loan terms.

1. They say timing is every little thing!

Interest levels on car and truck loans float down and up with prevailing economic conditions. Do some research on existing prices and crucial indicators that can let you know if rates will be regular, rising or dropping within the near term.

When you are not in an excellent hurry order your vehicle you can find less rate by awaiting the right time for you to take-out that loan.

2. understand your credit score

Financial institutions provide money at rates of interest that fit their particular degree of danger – they use credit scores to ascertain that threat.

If you have a brief history of satisfying your entire bills promptly and you also don’t carry a lot of debt in terms of your earnings you most likely already have a high credit score. Maintaining that credit score high keeps your rates of interest reduced. Know your score if your wanting to borrow for the next vehicle.

3. the greater the deposit the reduced the attention rate

This really is known as “Loan to Value” ratio.

That’s a fancy means of stating that the greater amount of money you place down the more secure a bank seems when providing you money. Usually, the greater you put down, the low your rate of interest as well as your monthly payments.

4. Get a co-signer

Whenever you’re a individual just starting and possessn’t founded a confident personal credit record sometimes you have to assist finance companies understand you’re not a risky borrower. That’s where a co-signer becomes necessary. Think of a co-signer as a referral from a pal or relative that is additionally willing to guarantee the bank that you are worthwhile debtor. Without a co-signer you may not obtain the loan after all or if you do the interest rate are going to be off the maps high making monthly payments that much tougher to keep up.

5. store ’til you drop

Banks are competitive and additionally they generate income by lending money. They really like auto loans as the car itself is collateral for loan.

So shop around – make sure each banker you talk to knows that you’re comparing rates and terms at other financial institutions. You’ll be pleased to locate simply how much they need a customer as if you and exactly how prepared they will be to offer you an excellent car loan.

More Economic Advice on Purchasing Cars:
http://www.carfax.com/blog/video/financing-a-car-avoidances
http://www.carfax.com/blog/video/extended-car-warranty/
http://www.carfax.com/blog/video/considerations-when-buying-a-car
http://www.carfax.com/blog/video/getting-great-used-car-loans/
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