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Finance Forum
Auto Loans For People With Good and Bad Credit
Buying a car is both exciting and frustrating!
Make sure you do your research before you
sign anything! Each time I've gone in to
purchase a car I've felt anxious and elated
over the thought of getting into a new car.
My first car purchase my dealer took me
for everything I was worth. On my 2nd and
3rd car purchases I did my research, had
my loan approved before I walked into the
dealership, walked in with lots of papers
(that I would shuffle around and not let
them look at it LOL) and a good friend would
go with me as my "lets get up and walk"
buddy. Do you research, know how much you
can spend, and stick to your guns. Also
always remember YOU CAN ALWAYS WALK
AWAY! A good friend of mine usually
ends up going into the car dealership 3
or 4 times over a month constantly negotiating
and always reminding the dealer that the
car he wants is still on the lot costing
the dealer money, wouldn't it be better
for the dealer just to sell him the car?
He loves it. Most of us can't deal with
that kind of stress, but he does get some
AMAZING deals. Don't let yourself get pressured
into a sale, take a friend if need be and
exercise your right to walk!
On this page we have listed some of our sponsors who can will
lend you money, places you can research
your new car, and tips for buying your new
car. The lenders on this page offer auto
loans to good and bad credit . Be
sure to read our tips on buying your next
car here
Instant online approval, good credit, bad credit, all credit types encouraged to apply. Must be at least 18 years old and make a minimum of $1200 a month.
Used cars for those with bad credit. Over 100 locations in the U.S. Apply online at DriveTime.com.
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Why does financing or refinancing a vehicle have to be so complicated? If youÂ’re looking to save money by refinancing your current vehicle or are thinking of purchasing a new vehicle, we can help. MyAutoLoanFinder specializes in connecting consumers with respected lenders. Even if you have less than perfect credit, we can find a lender to help finance a new vehicle or refinance your current vehicle. The best part is itÂ’s Free and thereÂ’s no obligation to apply. Why wait, you have nothing to lose! Click Here
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Car Leasing
Leasing a car can be a great
way to drive a high end car for 3 - 5years.
At the end of the lease term you have to
return the vehicle. Lease terms can be very
generous, and put you in a luxury vehicle
for less than $600 a month, but be warned
leased vehicles often have a set number
of miles that you can drive during your
lease term. If you go over those miles you
are charged PER MILE over your allotted
amount.
Swapalease is the world's LARGEST
online lease marketplace. They allow you
access to distressed sellers, who need to
get out of their lease early. You can get
a short-term, NO MONEY DOWN lease with the
lowest monthly payments on the market! Do
you need to get out of your lease? They
can help you too! Exit your car lease early
- no penalties!
Good Credit Auto & Refinance Loans
If you have good / great credit
then Up2Drive is the company for you. You
can buy a new or used car thru this network.
Checks can be made out to either a dealership
or individual. This network is part of BMW
Bank of North America Refinance
Payment Calculator 
Car Buying Tips
- Don't let your credit report surprise you!What does your credit report say about
you? Before you apply for ANY type
of financing you should make sure you
have looked at all 3 credit reports & fixed any errors you find
click here to see all 3 credit reports
and your scores
- Know the value of your trade inIf you are trading in a car research what is worth on Kelly Blue Book don't expect a fair price from a dealer. Know what your car is worth BEFORE you trade it in.
- Negotiate your trade in seperately. I like to act like I have no trade in so I negotiate the cost of the car first. Then I say, well, what would you give me for this car.... I know what the blue book value is already and I've already negortiated my best deal on the new car. Lots of dealerships pretty much steal the value of your trade in by not negotiating the new car price as low as they could go.
- Get Pre-approved Before you walk into the dealership make sure you
have a car loan approval - that way you
know how much you can spend and what your
monthly payment will be
- Don't be a payment shopper Don't let a car dealership sell you a car based on its monthly payment. Any good salesman can easily make that car fit any payment you want. Negotiate only the price of the car and your trade in - by having a car loan pre approved you already know what your monthly payment is and what the interest rate is. Avoid this BIG mistake at all cost!
- Hold Your Cards Close To Your Chest Don't tell the dealership you have been preapproved for a loan until AFTER you have negotiated your best deal for the car. Many dealerships make hundreds, if not thousands of dollars on the financing of your car. If they know up front that they won't be making money on the financing they are less likely to give you as good a deal as you deserve!
- Watch your wallent when you go into their finance room! Thats real the real money is made for the dealership. From the interst rate to the useless warranties, the finance guy's job is to tack on as many extras as they possibly can. This is where having your own pre approved auto loan comes in handy.
- Keep A Level Head Don't get caught up in the excitement of buying your new car. If need be take a break, just like your salesperson who keeps going back and forth talking to their manager, you should get up from time to time for coffee or smoke break. The dealer will try to keep you on property but walk out and clear your head. When / if you come back the dealer will be very eager to close the deal quickly (for fear of your walking out and NOT coming back
- Are you upside down on your current car loanBe aware of the true cost of rolling
an existing loan into your new car loan.
Keep in mind if you are buying a new $30,000
car and still owe $7,000 on your old car
you are effectively agreeing to pay them
$37,000 for a car that is only worth $30,000
and the moment you drive off the lot its
probably only worth $25,000! By rolling
the old loan into the new loan, you are
now effectively $12,000 upside down!
- Get it in writing!Make sure you have all loan approvals
and car pricing negotiations in writing!
Some dealers have been known to approve
an applicants loan and let them drive
off the lot. A few days later they call
the applicant and say the bank didn't
approve the loan. At that point they tell
you all is not lost! They have another
lender ready to approve you, but that
4% interest rate they promised you is
now closer to 13%. They know most people
will come in and just sign for the new
loan, they love their new car & all their
friends have now seen them in their new
ride. It would be embarrassing to have
to return the car. Don't be that sort
of buyer. Make sure you are approved by
an outside lender along with/ the dealer
so you have your own back up plan. Don't
be afraid to return the vehicle and don't
let them high pressure sales you into
either keeping that car or moving you
into a cheaper not as nicely equipped
car.
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