I purchased a truck back on June 15th. I bought it for like 13000. I put 3500 down at the time of purchase. I am thinking about paying it off but I am really just trying to build my credit. Would it be better to keep the payments or to pay it off My credit is only 650 I am 20 years old and have no other auto loans at all. I am thinking about payinf it off to but another vehicle so keep that in mind!! Thanks!!
Is it too early to pay off my auto loan?
If you have the money to pay it off, just pay it off and be done with it, it'll definitely be good for your credit if you can show that you pay your debts.
Right now there's lots of cars going for cheap as 60% of population can't pay for it!
Reply:You are better off to keep paying on it. Lenders look for payment patterns regardless of what some of the other responders are saying. Paying off a loan quickly does not establish a pattern so they are less likely to lend. If you want both vehicles use your cash as a large down payment on the second vehicle. If you only want one, trade in the one you own and use the cash you were going to use to pay it off as additional down payment. Depending on the value of your trade in, you might come out better.
Reply:It would do your score good to pay off your loan in full. I didn't understand what you were saying about buying another car. If you ARE going to buy another car, are you going to trade your truck in? Are you keeping your truck and buying a car? Are you going to pay off your car but get a loan for a car?
Let's say it is the latter, you want to pay off your truck but get a loan for a car. That would hurt your credit because getting too many loans to fast is bad for your score. It would be much better to take your cash and buy a car and keep your truck payments. If you have money left over, you can apply that money towards your truck loan.
Reply:From a strictly credit standpoint, you would be better off sticking to your original payment scheme. With a score of 650 and having paid in full a loan to assume another loan, will not go in your favor and will call an investigation into why your score is only 650. Lenders are on alert to spot innovative borrowers.
Reply:The best thing you can do for your credit is buy something and pay it off right away.
It is a myth that carrying a loan builds credit.
Total myth.
Get 3 credit cards, get high limits, and pay them off in full each month.
Reply:Try getting a free online auto loan quote. http://www.autoadviceonline.com/Auto-Loa... The automated form will let you know if you can be approved. It will only take a few minutes.
Wednesday, March 17, 2010
Do anyone know a good credit union in orlando to get a auto loan?
I just move to orlando a year ago and wanted to get a auto loan thru a credit union. Right now i'm with suntrust but heard credit unions give you a better interest rate. My credit score isn't to bad last time i check it was 658. so i know i won't get the best but atleast a decent rate. thanks for any info
Do anyone know a good credit union in orlando to get a auto loan?
Try getting a free online auto loan quote. http://www.autoadviceonline.com/Auto-Loa... The questionairre will give you results based on your credit and financial situation. It will only take a few minutes.
Reply:It should really save you hassle to just get a car loan price on the web to see what todays rates are. You might be totally suprised. Also if your credit is not so great, a lot of them are more willing to work with you.
What I most often tell folks is that an internet quote at http://auto.lowratetoday.com is worthwhile.
Do anyone know a good credit union in orlando to get a auto loan?
Try getting a free online auto loan quote. http://www.autoadviceonline.com/Auto-Loa... The questionairre will give you results based on your credit and financial situation. It will only take a few minutes.
Reply:It should really save you hassle to just get a car loan price on the web to see what todays rates are. You might be totally suprised. Also if your credit is not so great, a lot of them are more willing to work with you.
What I most often tell folks is that an internet quote at http://auto.lowratetoday.com is worthwhile.
Can I refinance my new auto loan?
I want to refinance my current new auto loan which I've had for 8 months now. My interest is 16% for $14,538 loan over 5 1/2 years. I've never been late and my credit score is average. No one has co-signed with me. I've had the same job for the past 4 years and only $150 on credit cards. I want to get my first apartment within the next 3-4 months but I can't afford to keep paying $334 for my car and by the time I finish paying off this loan, it will be around $21,000!.
Does anyone know if I should try refinance or just sell the car all together and hopefully get a new loan for probably cheaper car.
Can I refinance my new auto loan?
With 8-payments made as agreed, you should try you own local bank or credit union, they will always beat the rates you get from the dealers.
Reply:Visit this webguide : Auto Loan Guide: http://autoloans.autoloanassis...
Good Luck Report Abuse
Reply:Yes in some cases even your own bank will refi after 6 months.
I would recommend going to a credit union in your area, they have very competitive rates for consumers. You are right that you will need to have your debt ratio to be low in order to get into any loan or lease agreement. A refi will definitely help.
Debt ratio is your monthly liabilities(on your credit report)divided by your monthly income.
Good luck and congrats on your new apartment.
~www.DamionJackson.com
Reply:http://index.mybuny.com/business-and-eco...
Does anyone know if I should try refinance or just sell the car all together and hopefully get a new loan for probably cheaper car.
Can I refinance my new auto loan?
With 8-payments made as agreed, you should try you own local bank or credit union, they will always beat the rates you get from the dealers.
Reply:Visit this webguide : Auto Loan Guide: http://autoloans.autoloanassis...
Good Luck Report Abuse
Reply:Yes in some cases even your own bank will refi after 6 months.
I would recommend going to a credit union in your area, they have very competitive rates for consumers. You are right that you will need to have your debt ratio to be low in order to get into any loan or lease agreement. A refi will definitely help.
Debt ratio is your monthly liabilities(on your credit report)divided by your monthly income.
Good luck and congrats on your new apartment.
~www.DamionJackson.com
Reply:http://index.mybuny.com/business-and-eco...
What is a good auto loan APR?
I need to know what the best rate would be for someone in my situation.
I live in NE Ohio, and I have just filed bankruptcy. I am not sure what my credit score is, but it can't be good. Prior to losing my job, I had excellent credit and an auto loan rate of 5%.
I don't want to be taken advantage of, at least not to the full extent. We all know how car dealerships are.
What is a good auto loan APR?
Yes, I don't see how you could even get a loan. You must have excellent credit usually to even qualify for a low interest car loan. I have 1.9% on my Honda Accord Coupe, but that is because it was bought new and we have great credit. You can usually only qualify for 0% and low interest loans if you buy a NEW vehicle, which it doesn't sound like you can in your situation.
If I were to get a loan and I was in your situation, I would settle for something around 8% or 9%. That actually sound outrageous to me though...
Reply:It might really save you some money to just get an auto loan estimate online to check out what the going rates are. You might be pleasantly happy. Also if your credit is not the best, a lot of them are more willing to help people.
What I most often tell friends is that an internet quote at http://auto.lowratetoday.com is worthwhile.
Reply:If you just filed bankruptcy, why on earth are you buying a new car?
There is no good news here. You will be lucky to get financed and will probably end up with something at least 17% or more.
Reply:You will need proff of discharge first. With new BK you will be looking at anywhere from 15.9 and up with at least 1/3 down payment to secondary bank + bank fees as secondary all charge 1-2000.00 on top of price of car. Car delerships are not bad it is just ignorant people who say that and know nothing about car dealers and laws that keep them from ripping anybody off like interest which they as i said cannot charge more then 2 points over their buy rate which is lower then anyone can get at a bank. Your BK will cause you to have to use a secondary bank so the extra 1-2000 charge goes directly to them for taking the risk. Obviously you did not pay bills so the highAPR will be in effect. You will not always have choice of car either. You still need to be making 1500.00 a month and be on same job for 1 year and same residence for same. You will need last 2 paystubs with YTD on it plus references, utility bills with your name and bank s will decide how much and on what you can spend it on. has to book out with NADA and be within their criteria for debt ratio. Of course you will not listen and go to dealer and say he is ripping you off because of what it takes to buy car with recent BK but dealer has nothing to do with that. the banks do. You may not even qualify yet as you said you lost job and if you have not worked 1 year straight for same place you wil not. As for 5 % rate , they change all the time as prime rate does. Thier are no 5% loans on cars now without perfect credit. Your 5% would be 6.9 at best or be dealer buying down rate.
I live in NE Ohio, and I have just filed bankruptcy. I am not sure what my credit score is, but it can't be good. Prior to losing my job, I had excellent credit and an auto loan rate of 5%.
I don't want to be taken advantage of, at least not to the full extent. We all know how car dealerships are.
What is a good auto loan APR?
Yes, I don't see how you could even get a loan. You must have excellent credit usually to even qualify for a low interest car loan. I have 1.9% on my Honda Accord Coupe, but that is because it was bought new and we have great credit. You can usually only qualify for 0% and low interest loans if you buy a NEW vehicle, which it doesn't sound like you can in your situation.
If I were to get a loan and I was in your situation, I would settle for something around 8% or 9%. That actually sound outrageous to me though...
Reply:It might really save you some money to just get an auto loan estimate online to check out what the going rates are. You might be pleasantly happy. Also if your credit is not the best, a lot of them are more willing to help people.
What I most often tell friends is that an internet quote at http://auto.lowratetoday.com is worthwhile.
Reply:If you just filed bankruptcy, why on earth are you buying a new car?
There is no good news here. You will be lucky to get financed and will probably end up with something at least 17% or more.
Reply:You will need proff of discharge first. With new BK you will be looking at anywhere from 15.9 and up with at least 1/3 down payment to secondary bank + bank fees as secondary all charge 1-2000.00 on top of price of car. Car delerships are not bad it is just ignorant people who say that and know nothing about car dealers and laws that keep them from ripping anybody off like interest which they as i said cannot charge more then 2 points over their buy rate which is lower then anyone can get at a bank. Your BK will cause you to have to use a secondary bank so the extra 1-2000 charge goes directly to them for taking the risk. Obviously you did not pay bills so the highAPR will be in effect. You will not always have choice of car either. You still need to be making 1500.00 a month and be on same job for 1 year and same residence for same. You will need last 2 paystubs with YTD on it plus references, utility bills with your name and bank s will decide how much and on what you can spend it on. has to book out with NADA and be within their criteria for debt ratio. Of course you will not listen and go to dealer and say he is ripping you off because of what it takes to buy car with recent BK but dealer has nothing to do with that. the banks do. You may not even qualify yet as you said you lost job and if you have not worked 1 year straight for same place you wil not. As for 5 % rate , they change all the time as prime rate does. Thier are no 5% loans on cars now without perfect credit. Your 5% would be 6.9 at best or be dealer buying down rate.
Need help trying to get an auto loan?
Im trying to get an auto loan anywhere from 13-15k. I dont know if its possible or not. I havent tried applying for any outside of Capital One, it was denied. I looked at my Credit Report and all that and even paid to see what my score was. Its a 608 (from my knowledge a very bad score).
I just got done paying off a charged off Credit Card thru Capital One (thinking thats a big reason why I may have been denied seeing that they took it to court) but it has yet to reflect on my Report. So while im waiting on all that to get updated Is there any place else i can get that loan from? Im trying to get a toyota camry for about that much (brother in law works for them). Only thing is I just graduated college last year so im paying back my student loans (36k right there but low monthly payments). Is there anyone who will give me that auto loan?? Thanks for any help.
Need help trying to get an auto loan?
How much of a down payment do you have? The larger the down payment, the more likely you will be able to get a vehicle financed. You say your Brother in Law works for a Toyota dealer?
They may be able to get the loan approved for you. You could also check with your bank or credit union to see if they can help you.
Reply:Visit this webguide : Auto Loan Guide: http://autoloans.autoloanassis...
Good Luck Report Abuse
Reply:go to www.sandiegomotorsinc.com they help everyone
Reply:skip trying to get a car loan and go to freegovermentgrants .com pay the $39. fee and let some old lady with nothing better to do with her money buy you a car 3.5 mill . people a year get grants why shouldent you
I just got done paying off a charged off Credit Card thru Capital One (thinking thats a big reason why I may have been denied seeing that they took it to court) but it has yet to reflect on my Report. So while im waiting on all that to get updated Is there any place else i can get that loan from? Im trying to get a toyota camry for about that much (brother in law works for them). Only thing is I just graduated college last year so im paying back my student loans (36k right there but low monthly payments). Is there anyone who will give me that auto loan?? Thanks for any help.
Need help trying to get an auto loan?
How much of a down payment do you have? The larger the down payment, the more likely you will be able to get a vehicle financed. You say your Brother in Law works for a Toyota dealer?
They may be able to get the loan approved for you. You could also check with your bank or credit union to see if they can help you.
Reply:Visit this webguide : Auto Loan Guide: http://autoloans.autoloanassis...
Good Luck Report Abuse
Reply:go to www.sandiegomotorsinc.com they help everyone
Reply:skip trying to get a car loan and go to freegovermentgrants .com pay the $39. fee and let some old lady with nothing better to do with her money buy you a car 3.5 mill . people a year get grants why shouldent you
Can a student get approved for a auto loan?
I'm a college student, 21 yrs old
I'm trying to get an auto loan with capital one with $8000
Do i have a big chance to get it?
my credit score is around 670
Can a student get approved for a auto loan?
You should be able to get that loan but it really depends on a lot of things. First your score is above average but how's your history? do you have credit cards? How are the balances? If they're high you may not get the loan. A lot of banks have first time buyer programs but expect your rates to be on the high side.
Reply:Auto Loan Guide: http://autoloans.autoloanassis... Report Abuse
Reply:There are many auto loan options available today. Today, stiff competition among auto loan financing companies%26lt;!--has made it possible to get a car loan or an auto loan at favorable terms.
http://badcredits.awardspace.com/autoloa...
However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car--%26gt;finance option. You can apply for online car loans on the Internet, or get it from your car dealer.
Reply:Hi There! I Got This For Your... As Always, Its Always Better That You Get The Info Firsthand. So Check It Out Yourself, Im Pretty Sure You'll Discover Something...
tanning
I'm trying to get an auto loan with capital one with $8000
Do i have a big chance to get it?
my credit score is around 670
Can a student get approved for a auto loan?
You should be able to get that loan but it really depends on a lot of things. First your score is above average but how's your history? do you have credit cards? How are the balances? If they're high you may not get the loan. A lot of banks have first time buyer programs but expect your rates to be on the high side.
Reply:Auto Loan Guide: http://autoloans.autoloanassis... Report Abuse
Reply:There are many auto loan options available today. Today, stiff competition among auto loan financing companies%26lt;!--has made it possible to get a car loan or an auto loan at favorable terms.
http://badcredits.awardspace.com/autoloa...
However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car--%26gt;finance option. You can apply for online car loans on the Internet, or get it from your car dealer.
Reply:Hi There! I Got This For Your... As Always, Its Always Better That You Get The Info Firsthand. So Check It Out Yourself, Im Pretty Sure You'll Discover Something...
tanning
Where should I get an auto loan online?
What are some good and reputable internet sites that offer auto loans?
Where should I get an auto loan online?
http://www.capitalone.com/autoloans/?PFF...
Capital One offers pre-approval, competitive rates, and sends you a check for your approved amount so you can go to the dealership with money in hand.
My dad, who is 63 yrs old, did this online and he said it was pretty easy.
Reply:Auto Loan Guide: http://autoloans.autoloanassis... Report Abuse
Reply:I sugggest you phone Auckland 0800227759 and ask for Paul
Reply:E-Loan, RoadLoans
Reply:You can find some good information about auto loans at http://www.refinancingyourvehicle.com the lenders on the site are big, respected, quality organizations who also help when refinancing loans.
Reply:www.geico.com
www.esurance.com
Where should I get an auto loan online?
http://www.capitalone.com/autoloans/?PFF...
Capital One offers pre-approval, competitive rates, and sends you a check for your approved amount so you can go to the dealership with money in hand.
My dad, who is 63 yrs old, did this online and he said it was pretty easy.
Reply:Auto Loan Guide: http://autoloans.autoloanassis... Report Abuse
Reply:I sugggest you phone Auckland 0800227759 and ask for Paul
Reply:E-Loan, RoadLoans
Reply:You can find some good information about auto loans at http://www.refinancingyourvehicle.com the lenders on the site are big, respected, quality organizations who also help when refinancing loans.
Reply:www.geico.com
www.esurance.com
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