Guaranteed Auto Financing with IMGcars
What does my minimum credit score need to be to get auto financing at a good rate?
creditreport.fateback.com – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.
Auto Financing
A commercial about our auto lending program.
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what are the pros and cons of securing your own auto financing, from a lender such as e-loan for example?
I have "fair" credit and hate the long wait at the dealer while they play the "still looking for a fiancing company to take you" game. It seems smarter to cut out the middle man (last time I was a newbie and ended up with a 23% apr on a used, $14000 car!). Anything I should know as time is a factor; starting a new job and need transportation.
GK mentioned some good points. Stay away from the E-loan deal or Lending Tree because they will "shotgun" your credit to various lenders (meaning they’ll have numerous lenders pulling your credit). This is detrimental to your credit to a small degree. The bureaus do take into account if you’re shopping for a car, you’ll have some credit inquiries. The myth that your credit will fall greatly is untrue. This only happens if you’re applying for various types of credit in a small period of time. Such as applying for car loans, credit cards, and mortages all around the same time.
Look to Capital One and Road Loans. They are two lenders that specialize in fair to poor credit auto loans. They’ll ask for your verifiable income, residence, time on job, etc. By gathering this, they’ll pre-approve you up to a certain dollar amount they feel you can handle. Then, they’ll send you a check. They’ll require you to buy from a franchised dealer, a certain model year or newer, and under a certain mileage range.
Now, that being said, don’t overlook letting the dealership try to acquire you financing as well. Go ahead and secure your financing through companies like I just mentioned, and then give the dealership a chance too. Many times they have relationships with local banks or credit unions that may be more leanient lenders than can offer you a better rate.
Also, if you should get turned down from Roadloans or Cap One, many dealerships will still have great special financing options that you may very well qualify for. So don’t give up hope.
You’re better off buying cars that qualify for traditional financing than at a buy here pay here lot. You’ll get a later model, lower miles vehicle that will be more dependable. Nothing is worse than making a car payment AND having to pay for repairs as well. And many times the higher miles cars at buy here pay here lots WILL have trouble.
And don’t expect to get a low advertised rate. If your credit is less than perfect, you’ll have a higher rate. In essence, you’re buying your credit back. This is just the way it will be.
Auto Financing, when is it OK to say no deal & do it legally?
I received a call from a car dealer last week, saying I was eligible for an upgrade. I purcased a car from them a year ago. So I went to look, found one I liked, but didn’t need, made it VERY clear that they needed to sell a vehicle & I didn’t need to buy one. We haggled over money, and we finally came to an agreement. The banks were closed, so the financing did not go through yet. I felt I was very clear at the time that if when the financing came back, if it wasn’t exactly what we agreed on, then no deal. They sent me home in the new car and I have been driving it for over 7 days. I keep calling to ask about the financing, but get nowhere. I finally called today to tell them I was bringing their car back, and would be taking my car back, as the payment is due this week. They told me that everything went through, but they are not sure what the terms are. I want to be prepared when I get there, if the terms aren’t what we agreed on, do I HAVE to take the car?
NO, if the terms change you will have to sign a new contract. So simply put just don’t sign it. Good Luck
10 yrs in the biz
IMGCars.com Guaranteed Auto Financing Regardless of Credit History
When looking for a new vehicle, let the credit professionals http://www.imgcars.com help get you started on your way! Regardless of your credit situation, IMGCars.com has numerous programs to help get you driving a quality pre-owned vehicle. With competitive rates for all credit scores starting at 4.49% , and numerous lenders including Credit Acceptance , we can get you the finance package that suits your lifestyle. Call Our Guaranteed Credit Hotline at 1-888-925-DRIVE (3748) Let IMGCars smooth the road for you. Conveniently located on the Warwick / East Greenwich Rhode Island line, we are an easy drive from Mass, CT, NY, NH, ME and VT.
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Is this type of auto financing possible?
I have a car that with a loan payoff of $17K. I would like to trade it in for a car of the same year, different model. I know my car sells for around $13K, and the car I want to trade it in for sells for around $15K, $12K after a rebate. Is it possible for someone to have a car lot pay off their loan and add the negative equity from the payoff to a new car loan? Do you have to have REALLY good credit to get this?
Yes you can do this. HOWEVER, unless there is something seriously wrong with the car you are in, it is a VERY BAD IDEA. You will be paying INTEREST on the NEGATIVE equity. When you want to trade again in a few years, you will have ALOT more negative equity to deal with.
Best thing you can do is to PAY DOWN the current loan. If you were to send in an extra 100-150/month with every payment, you will begin to pay down the loan quickly.
DO NOT send in double payments, or 2 coupons and 2 payments. It will not save you any money. If you could afford to send in that amount of money, do it like this: Write one check for the current amount due, and write another one for another amount. At the bottom of the 2nd check, in the "notes" or "for" line on the bottom left side of the check, write: "For Principal". What this will do is go directly to the principal of the loan, and you will end paying less in interest over the longrun of the loan.
Auto Financing and restructuring Act.wmv
Congressman Sander Levin (MI-12) speaking in support of H.R. 7321 – The Auto Industry Financing and Restructuring Act.
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How long does it take to get a car title back from Capital One Auto Financing after the loan balcance is paid?
Auto finance is what I do for a living and Capital One is one of my lenders.
When we do a pay off to them it normally takes around 10 working days to get the title.
is it possible to get auto financing being a first time car buyer with no pay stubs?
i am a first time carbuyer, i am self employed, i have a 700+ credit score with very clean credit. although, i dont have any W2’s, paystub or anything like that. i am a real estate flipper so i dont have an employer except for my LLC, but on paper i loose money every year. i have over 200k in cash in the bank, and i would be more than willing to put down 20k on a 60k car i want, but can i get financing on the remaining balance? i can verify the assets, but i havent received any type of paycheck in years. does anyone know who i could call or where i could go to get this done? is there a website i could go to or a particular bank? thanks a lot, i really appreciate it your help with this.
As long as you have been paying off some kinda credit card for a few years, then yes… you can finance with very low interest. However, if thats not the case 700 is great, but doesnt mean anything b/c its not establish. You don’t have to prove that you’re getting paid, you just have to prove that you are reliable to pay back people.