Auto Loan 101s

Things That Are Not in Your FICO Score

Most auto loan lenders use your FICO score as part of the application process to determine if you'll qualify for a car loan and if so, at what interest rate. While some auto lenders do use other credit scores like VantageScore, the FICO score is the most widely used. We've previously covered what your FICO score is made up of, but there are several items that consumers might think are part of the[...] .. Read More.

How to Boost Your Credit Score in 2010 to Help Get a Car Loan

It’s a well-known fact that getting approved for a car loan or lease is extremely dependent on your credit score. If it’s too low, you’ll pay high interest rates over the life of the auto loan. If it’s high, you can take advantage of 0% APR car loans and even get approved for a lease. If one of your New Year’s resolutions is to improve yo[...] .. Read More.

Getting the Best Auto Loan Rates

Build a Relationship With a Lender and You'll Get Better Car Loan Interest Rates Lenders are more likely to give a car loan to a buyer who they have a relationship with. If you've had a car loan in the past and made your payments on time, that lender knows that you're a responsible car buyer and might offer you a loan or interest rate that other lenders won't. This holds true with other[...] .. Read More.

What Not to Do When Applying For a Car Loan

Don't Bite off More Than You Can Chew When deciding how much you can afford for a car payment, take a realistic inventory of your expenses. Take a notebook with you and write down everything you buy for a week or two, that way you’ll be able to come up with an honest budget for your new car. Your credit score will be best if your expenses are only 30% of your income before taxes. You&r[...] .. Read More.

          

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Car Loan Shoppers With Good Credit Continue to Receive Best Interest Rates
Although credit is loosening a bit, the consumers with the best credit scores are still having little problem getting approved for car loans, while sh ... Read More

Toyota Executive Says Sales Are Up 50% Thanks to New IncentivesToyota Executive Says Sales Are Up 50% Thanks to New Incentives
Toyota's 0% auto loans, low lease payments and complimentary two-year maintenance for current owners may be working. The automaker's March incentives ... Read More

Experian Automotive's Latest Analysis Shows Auto Loan Market Continuing to StabilizeExperian Automotive's Latest Analysis Shows Auto Loan Market Continuing to Stabilize
Experian Automotive released its quarterly analysis of the automotive credit market today, and found that the auto loan market is continuing its stabi ... Read More