Credit Crisis Alert
Due to the current condition of the financial markets, many people were forced into high APR car loans. If you are in this boat, you should apply for refinancing at sites like Capital One Auto Finance, Up2Drive or myAutoloan.com. You might be able to significantly lower your APR and monthly car payments.
The scary truth about your credit score
Your credit score has more of an effect on your life than you think. A bad credit score can cause you to pay much higher loan interest rates, and can adversely affect your ability to get a job and cause you to pay higher insurance premiums. Many people are unaware that insurance companies check your credit before selling you insurance.
Your credit score will NOT drop if you run your own credit report
Many people mistakenly think their credit score will drop if they run their own credit report. Salespeople keep you in the dark about you own credit report so they can use your ignorance to charge you higher interest rates. You can verify this urban legend about your credit score at Experian, Equifax or TrueCredit.
วันอาทิตย์ที่ 26 มิถุนายน พ.ศ. 2554
auto refinancing
What is auto refinancing? How do I benefit by auto loan refinancing?
Auto refinancing is one of the best kept secrets around for saving you money, but most people never thought of refinancing their car. Car refinance is the same as home refinance. When refinancing car loans, you pay off your current car loan with a refinancing car loan from a different lender that has a lower APR. This is good for you because refinancing auto loans makes your monthly car loan payments lower, and your interest rate drops, which can allow you to pay off the balance of your car loan even quicker. Record numbers of homeowners refinanced in 2001 and 2002, and now many car owners are realizing you can save thousands of dollars by refinancing auto loans too. Car refinancing has become a very popular trend with dropping interest rates. It's like finding a wad of cash you didn't know you had in your clothes after doing the laundry. Use the money you save to pay off credit card debt or accelerate your car loan payoff.
Note: Most lenders will not refinance their own auto loans. So if you plan to refinance your auto loan, you will need to look for a lender other than your current lender.
Fact: You don't need an appraisal to refinance your car loan
Many people erroneously believe an appraisal is required to refinance their auto loan. Unlike your home, which does require an appraisal because it is based on your equity in the home, auto refinancing is based on how much you need to pay off your current car loan, not on the value of the car.
Auto refinancing is one of the best kept secrets around for saving you money, but most people never thought of refinancing their car. Car refinance is the same as home refinance. When refinancing car loans, you pay off your current car loan with a refinancing car loan from a different lender that has a lower APR. This is good for you because refinancing auto loans makes your monthly car loan payments lower, and your interest rate drops, which can allow you to pay off the balance of your car loan even quicker. Record numbers of homeowners refinanced in 2001 and 2002, and now many car owners are realizing you can save thousands of dollars by refinancing auto loans too. Car refinancing has become a very popular trend with dropping interest rates. It's like finding a wad of cash you didn't know you had in your clothes after doing the laundry. Use the money you save to pay off credit card debt or accelerate your car loan payoff.
Note: Most lenders will not refinance their own auto loans. So if you plan to refinance your auto loan, you will need to look for a lender other than your current lender.
Fact: You don't need an appraisal to refinance your car loan
Many people erroneously believe an appraisal is required to refinance their auto loan. Unlike your home, which does require an appraisal because it is based on your equity in the home, auto refinancing is based on how much you need to pay off your current car loan, not on the value of the car.
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