Archive for February, 2011

Auto Loans Personal Contract Purchase

Thursday, February 17th, 2011

Personal contract purchase or leasing as it is popularly known amongst loan borrowers is quite popular in the lending industry for a number of reasons. For those who don’t know what it is, the PCP or leasing involves taking auto loans on a car but there are differences in how the finances are handled. The term of the loan is usually set by the dealership or lender but sometimes the applicant is also given a choice. The difference here is that after the term of the loan ends, the borrower gets to choose whether he/she wishes to stay with the car or return it to the dealership. In ninety percent of the cases, the borrowers return the car to the dealers for resale purposes. Read More…

Auto Finance Application Requirements

Wednesday, February 16th, 2011

The online lending companies have totally transformed the way in which the auto finance procedures are undertaken. It is seen that even their applications can be filled in a lot more quickly as compared to the applications which can be filled out in the lender’s office. However, the procedure in the online services go with different cases but the offline lenders judge all the criterions before approving and marking the interest rate on the auto finance application. The first thing which the borrower has to provide the application is the social security number with which the lending company would check the credit report of the individual. Read More…

Things That Affect Auto Finance

Tuesday, February 15th, 2011

This is common knowledge that the first deciding or affecting factor in auto finance is the credit score of the applicant. The first thing that the lenders check is this but a number of online companies have started providing finances without checking the credit score at all which is why the following lines focus on other things which are seen to affect the auto finance procedures. For the lenders, after credit score, the most important thing which has to be seen is the fact that the applicant can earn a good sum of money and then spend it on the financing of the car. Read More…

Zero Percent Auto Finance

Monday, February 14th, 2011

For almost any borrower, getting a chance to be approved for auto finance with a reduced rate of interest would come like a dream considering the fact that it is quite difficult to get decent interest rates these days even with a lot of lender competition. However, the dealerships have started noticing the fact that they are getting cut out of the lending equation and no applicants or little number of individuals is coming forward in order to go for auto finance and automobile from the same place. Seeing this, they have started some offers which are bound to seem attractive and bring in a lot of clients for them and one of them is auto finance at zero percent rate of interest. Read More…

Used Auto Finance From Licensed Places

Sunday, February 13th, 2011

Nowadays, many dealerships have started growing on the fact that these places can provide auto finance along with the automobiles and due to this reason; many people have started trusting these places over any other lending company. Even in the cases of used cars, a number of car lots and used car dealers have cropped up providing the auto finance and the car at the same place. The working is quite fast but there are chances that the borrower is getting ripped off for a lot of money from these places. The reason behind this approach is due to the fact that the car lots which appear from place to place have models whose price cannot be checked from any company or manufacturer. Due to this, there is no clear picture regarding the fact that the borrower could be paying a lot more over the car. Read More…

Why Auto Finance On Bad Credit Is Given?

Saturday, February 12th, 2011

There are a number of different answers to the question why auto finance provisions are given on the bad credit score and some of the answers are discussed in the following lines. The most straight answer that many lending experts state is that the increase in the competitions between the different sections of the lending industry has made them realize that they need a bigger market to ensure that their livelihood is earned. This led to the rise of the bad credit lending or providing approval for auto finance even with bad credit scores. Read More…

Use Modification For Avoiding Default On Auto Finance

Friday, February 11th, 2011

Earlier, if the borrower used to face a dire situation in the middle of auto finance term, then it was seen that he or she usually used to default on the loan without even consulting the lender. Many had the obvious shame and fear of accepting the fact that they wont be able to make the installment for the next month and that is what kept troubling them. However, lenders also get affected by this because sometimes even repossession doesn’t seem to cover their finances due to which they rather prefer allowing the payments to be added at the end of the loan for some time to ensure that the auto finance keeps on going smoothly. Read More…

Terms Used For Auto Finance EMI

Thursday, February 10th, 2011

Many applicants who have had faced trouble with their auto finance procedures have advised their family and friends to not make the same mistake and go for auto finance amortizing as it helps in detecting ninety percent of the problems that could come up in the future. Actually, according to statistics, people who amortize their auto finance installments and other criteria are bound to have a lot easier loan term than the other applicants. The following lines provide some of the terms which can be used to calculate EMI. Read More…

Strive Hard For Cheap Auto Finance Quote

Tuesday, February 8th, 2011

An auto finance quote is the price or the interest rate being charged by the lending company or the lender on the finances that the applicant wishes to acquire. This rate is usually calculated depending on the credit score of the applicant. Many experts say that people should work hard to ensure that they get one of the cheapest auto finance quotes possible because these can create a lot of different to the overall lending experience. This statement can be considered a fact after seeing thousands of cases where a small reduction in percentage points made it easier on the applicant to go through the finances whereas increasing the percentage points made it difficult to pay the auto finance installments all together. Read More…

Requirements for Application Of Auto Finance

Monday, February 7th, 2011

Many people wonder as to what all they have to provide in the applications of the auto finance or any other lending situation for that matter. There are several things which the lenders require but the first thing that they are going to check is the credit score of the applicant for which the applicant has to mention the Vin number or the social security number. If the lender wishes to then he or she can check the credit report of the applicant by using that and check thoroughly the things mentioned in the report. Read More…