tag:blogger.com,1999:blog-69662406852408707932024-03-12T20:42:57.466-07:00INSIDERS ADVICE - How to get an Auto Loan and Low Interest Rate with Bad Credit:This blog will clarify ways to obtain an auto loan if you have bad credit or less than perfect credit.Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.comBlogger15125tag:blogger.com,1999:blog-6966240685240870793.post-65674471534599904512009-02-07T20:40:00.001-08:002009-02-07T20:40:17.384-08:00http://autofinanceinsider2.blogspot.com/Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-58668754065650903892008-12-31T12:22:00.001-08:002008-12-31T12:22:50.751-08:00Happy New YearCall Today for a Free Professional Credit Analysis by<br /><strong><a href="http://creditra.com">Credit Restoration Associates</a></strong><br /><a href="http://creditra.com">Credit Repair va</a>,<br /><a href="http://creditra.com">Credit Restoration va</a>,<br /><a href="http://creditra.blogspot.comcom">Credit Repair Blog</a><br /><br /><a href="http://obamaleadership.blogspot.com">The Chronicles of Barack Obama</a> is now over one year old!Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-7861731566330387582008-10-26T16:25:00.001-07:002008-10-26T16:25:36.879-07:003 Tips to Choose the Best Credit Repair Service<br /><br />By <a href="http://www.creditra.com">Link Robertson</a><br /><br />Many credit repair services make it sound as if all you have to do is pay them and your credit report will be fixed. However this is not true, below is a criteria you should use when choosing a service.<br /><br /><strong>Do Not Pay Large Fees </strong><br /><br />Many services will charge large upfront fees. Instead look for more standard rates such as $179 for a start up fee and then a monthly fee of $100 or less. Some services will charge per action, I do not suggest this as your fees can add up quickly to more than $100 / month.<br /><br />Also you should avoid a company that says you must make a large upfront payment, these companies are typically not effective services and are looking to make a quick buck at your expense.<br /><br /><strong>Look For Refunds Not Guarantees </strong><br /><br />Credit repair can not be guaranteed, esspecially upfront. This is similar to a defense attorney guaranteeing that you will be found innocent of a criminal charge - IT CAN NOT BE DONE<br /><br />I strongly suggest you avoid any service that make a guarantee, instead look for a refund policy or warranty. Many good services will offer a refund if their service is ineffective or you are not satisfied.<br /><br /><br /><a href="http://CREDITRA.COM">BACK TO CREDIT RESTORATION ASSOCIATES WEBSITE:</a><br /><a href="http://creditra.blogspot.com">Back to the CRA blog homepage:</a><br /><a href="http://www.creditra.com/About_Us.html">About CRA:</a><br /><a href="http://www.creditra.com/Resources.html">CRA Resources:</a><br /><a href="http://www.autofinanceinsider.blogspot.com">Auto F&I Manager blog:</a><br />.<br />.Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-72956535242171982992008-09-13T08:08:00.000-07:002008-09-13T08:17:36.613-07:00MyCreditGroup Achieves Fair Credit Reporting Act CertificationMyCreditGroup announced today that its entire credit repair staff achieved the<br />Consumer Data Industry Association's Fair Credit Reporting Act (FCRA)<br />certification.<br /><br /> The effort underscores its commitment to practicing the highest degree of<br />ethical business.<br /><br /> "Participating in this certification program is not only good for our<br />company, but I believe necessary if our industry is to be given real<br />credibility by financial professionals and consumers," said Marc Chase, founder<br />of MyCreditGroup. "The credit repair business is often looked down upon<br />because many firms have less than stellar reputations in customer service. It's<br />our job to be the model for how credit repair service companies should operate,<br />and we take this leadership position very seriously."<br /><br /> The FCRA certification exam is an interactive online training course<br />designed to<br />ensure companies and their employees that deal with the FCRA and consumer<br />reporting issues understand the basic concepts and provisions of the law. The<br />course<br />curriculum is divided into six modules:<br /><br /><br />-- History of the FCRA<br />-- Consumer Reports<br />-- Disclosure<br />-- Identity Theft<br />-- Enforcement and Penalties<br />-- Taking The Final Exam<br /><br /> <br />More information about the FCRA certification program is available at<br />www.cdiaonline.org.<br /><br /> The Consumer Data Industry Association (CDIA) is the trade association for<br />the credit reporting information industry. The CDIA, with Experian, Equifax, and<br />TransUnion, is the creator of E-Oscar, the web-based dispute and verification<br />system currently in use by the credit bureaus and participating data<br />furnishers. The Fair Credit Reporting Act Certification Program has been<br />developed by<br />the CDIA to provide in-depth legal and procedural education for credit<br />industry professionals.<br /><br /> About MyCreditGroup:<br /><br /> Founded in 2000, MyCreditGroup is one of the most experienced credit<br />repairand consulting service firms in business, and <strong>has helped more than 15,000<br />individuals to manage their debt and personal finances better.</strong> The firm's open<br />and transparent customer service process covers every aspect of its<br />operations, from how its fees are disclosed to how it empowers its clients to<br />improve their personal debt management capabilities. For more information,<br />visit www.mycreditgroup.com.<br /><br /> Copyright 2008 by MyCreditGroup, Inc. All rights reserved.<br /><br /><br />Tags: <a href="http://www.thecrfactory.com">Credit Restoration</a>, <a href="http://www.thecrfactory.com">Credit Repair</a>, <a href="http://www.thecrfactory.com">CRF</a>Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-46873859964380179232008-08-21T16:02:00.000-07:002008-08-21T16:05:02.074-07:00Why the 'Debt Settlement' Business Is a Scam<a href="http://www.cnbc.com/id/26316092">Posted By:John Ulzheimer</a><br />Topics:Bankruptcy | Debt | Credit Cards | Credit<br /> <br />"On the Money" ContributorJohn Ulzheimer is a nationally recognized credit expert and contributor to On the Money. Learn more at Credit.com or JohnUlzheimer.com.<br /><br />Q. There are several companies offering to cut your debt in half and make one low monthly payment. If you are carrying large amounts of debt is this an option? How bad will this hurt your credit and for how long? I can't seem to get a straight answer on this. --Darrell S.<br /><br />Ulzheimer: Hi Darrell. I don’t normally use the word “hate” but in this case I have to do so. I hate that debt settlement companies are allowed to use deceptive marketing like this. It’s my opinion that a lot of these guys belong in a 5x9 cell for what they are doing to consumers who are in desperate situations. Here’s the truth about debt settlement companies… <br /><br />- The first thing they require you to do is stop paying your bills. This causes your credit scores to tank and might even get you sued by the lender or their collection agency. That’s not in their marketing literature or television commercials. Their theory is that they are going to make your credit card issuers desperate so they can ride in on their white horses and offer them some smaller percentage as a settlement. Of course, you can do this yourself. <br /><br />- Next they ask you to start paying into a fund that they will use to pay your creditors eventually. Of course, you can do this yourself. <br /><br />- There is no guarantee that your lenders will accept any settlement offers. Of course, they don’t tell you this in their ads. <br /><br />- They don’t tell you how much of your money they keep as their fees. Of course, they don’t tell you this in their ads. <br /><br />- They certainly aren’t truthful that settlements are just as damaging for your credit reports and scores as collections, judgments, tax liens, repossessions, charge offs, foreclosures, and repossessions. <br /><br /><a href="http://www.cnbc.com/id/26316092">Link to Original Article:</a><br /><br />***Keep all this in mind.<br /><br /><a href="http://autofinanceinsider.blogspot.com">AFI</a>Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-30006277128956631492008-07-26T09:58:00.001-07:002008-07-26T09:58:51.752-07:00The <a href="http://thecrfactory.com">Best Credit Restoration Company</a><br /><br /><a href="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjml1lf91YvyLSXGdWTH0pLouGkCWBBQ2w9GA09KlXqRzGh1Vb-aMYFmiRsipVapKkj64KAdtekeE2eZfXOFM5drwn2nTwu9b0iR8_HU6RM24Qy8bj3r6eDSVnXDcH0fAYmPvy3hNxpBMY/s1600-h/crf.jpg"><img style="cursor:pointer; cursor:hand;" src="https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjml1lf91YvyLSXGdWTH0pLouGkCWBBQ2w9GA09KlXqRzGh1Vb-aMYFmiRsipVapKkj64KAdtekeE2eZfXOFM5drwn2nTwu9b0iR8_HU6RM24Qy8bj3r6eDSVnXDcH0fAYmPvy3hNxpBMY/s320/crf.jpg" border="0" alt=""id="BLOGGER_PHOTO_ID_5227365954617937394" /></a><br /><br />Call Today for a Free Professional Credit Analysis.<br /><br /><a href="http://thecrfactory.com">Credit Repair</a>,<br /><a href="http://thecrfactory.com">Credit Restoration</a>,<br /><br /><strong><a href="http://thecrfactory.com">The Credit Restoration Factory</a></strong>Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-42348452252617535362008-05-14T04:28:00.000-07:002008-05-14T04:34:09.326-07:00A College Degree is important to achieving real success in life. Now is better than later. Research online colleges if you cannot take the time from job and family to attend a "brick and morter" university. <br /><br />Better yourself today. Reading the posts on the <a href="http://www.autofinanceinsider.blogspot.com">Finance Blogs</a> will increase specialized knowledge but to really succeed, you must increase your general knowledge. Work toward getting your college degree today. <br /><br /><a href="http://www.MyAssociatesDegree.blogspot.com">http://www.MyAssociatesDegree.blogspot.com</a>Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-51240446452974281092008-03-01T22:02:00.000-08:002008-03-25T06:42:52.769-07:00Automotive Finance F&I Insurance<br /><br /><a href="http://www.creditrestorationfactory.com">The Credit Restoration Factory exists to help restore good credit to good people. We have created the Credit Restoration System. The system is tailored to the individual needs of each client and the results of our personal touch will amaze you.<br /><br />Our CommitmentAt the Credit Restoration Factory, we treat our clients with courtesy and integrity. We guarantee a realistic, credit repair plan and honest financial advice that will achieve results. Our consistent track record of uncompromising ethics instills confidence and trust.<br /><br />We use personalized cutting edge technologies to help remove negative items from our client's credit reports. Our goal of restoring our clients good credit and keeping it restored will become a reality.</a><br /><br />Email to: CreditRestorationFactory@yahoo.comAuto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-11841025498930102962008-01-05T08:14:00.000-08:002008-01-10T20:47:24.206-08:00A Credit Repair Plan that worksTHE PLAN:<br /><br /><br />In 1992 I went through a Chapter 7 Bankruptcy. In it, I included a luxury car that I couldn't afford and had no business buying in the first place, several installment loans and a bunch of credit cards. <br /><br /><br />My credit was the absolute worst out there, I thought, until I got a promotion from car salesman to Finance Manager. Over my many years as a Finance Manager and now Finance Director, I've seen it all. <br /><br /><br />I have long since learned how to repair my own credit bureau and have helped many other people do the same.<br /><br /><br />It was easy for me to get a <a href="http://www.autofinanceinsider.com/GET_APPROVED.html">loan application approved</a> for someone who had good credit, or even "ok" credit. The challenge was to convince the banks that they should loan $30,000 to a customer who clearly had no interest in paying any of their bills either on time or ever. <br /><br /><br />As I am VERY good at my job, many customers with marginal credit are currently riding in new cars. <br /><br /><br />The majority of my customers were like I once was, ignorant about the workings of the credit system. Many times, I had to be a credit counselor. We laid the credit bureaus out on my desk, and using yellow highlighter, marked the areas in need of repair. <br /><br /><br />Many times, I helped the customers write their letters to the credit bureaus challenging the items of question. <br /><br /><br />The purpose of my direct involvement in all this was to get a future sale for the dealership. I followed up with these customers sometimes for up to a year to help fix their credit enough to get a new auto loan for them. This process bears fruit every month at my store.<br /><br /><br />Eventually, customers would tell their relatives and friends about my "services" and even though they had no interest in buying a car, would call and ask many credit questions and request my advice on credit repair.<br /><br /><br />One of the salespeople joked that I should open a <a href="http://www.autofinanceinsider.com/Credit_Repair.html">credit repair agency</a> and immediately it seemed like a lightbulb turned on. <br /><br /><br />The experiences that I've gained should be shared with the world. Every one who I asked for advice on starting this undertaking said that I need to open the doors of an agency to a very small test market. <br /><br /><br />Remember, I work a full-time job at a dealership and cannot help more than a small number of clients at a time. I am opening the doors to the agency today to fill an exclusive but limited client list. <br /><br /><br />If you would like personal attention, continue reading. In fact if you've read this far you should have a good feeling about what kind of person I am.<br /><br /><br /><a href="http://www.autofinanceinsider.blogspot.com">As an expert in my field,</a> I will provide quality credit repair services. I know exactly how to repair a credit bureau with the specific purpose of purchasing a car or house in the shortest amount of time. <br /><br /><br />As a client, you will have access to my personal cell phone number and will be able to talk with me anytime during business hours. I will be your personal credit repair coach. <br /><br /><br />You can ask me any question about any topic. I will help you create a credit repair plan that will help you achieve your financial goals in record time.<br /><br /><br />To get more information, send a SERIOUS INQUIRY ONLY to: <strong>AutoFinanceInsider@yahoo.com. </strong><br /><br /><br />Tell me about your situation, include what details you feel comfortable sharing. If you would like to leave a phone number, I might call instead of responding to the email as it is quicker and more personal. <br /><br /><br />I will not charge for easy fixes and general good credit advice. <br /><br /><br />For me to do the work for you, for you to put an experienced professional on your case, to get every error on your credit bureau's challenged and removed fast, you will need to register as a client. <br /><br /><br />To Achieve Client Status:<br /><br />There will be an initial set-up fee of $197.00<br /><br />I will dispute every error on each of your three credit reports using my proven techniques. <br /><br />There will be a fee of $47.50 per item removed per bureau.<br /><br />You can pay in advance or provide a credit card for payment.<br /><br />Money back guarantee if not completely satisfied.<br /><br /><br />Research my qualifications by looking through the <a href="http://www.autofinanceinsider.com">home page</a>. Only an author who knows what they are talking about could write these things. Email when you are ready. I will look forward to talking with you and helping you ease your credit repair burden.<br /><br />email: <strong>AutoFinanceInsider@yahoo.com</strong><br /><br />AFIAuto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-16045095808026042592007-12-21T20:42:00.000-08:002007-12-21T20:45:51.826-08:00Merry Christmas 2007 !!!Merry Christmas 2007 !!!<br /><br /><a href="http://www.afitoday.blogspot.com">Happy Holidays.</a>Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-69041972108684574652007-12-21T20:36:00.000-08:002007-12-21T20:47:27.846-08:00Happy New Year 2008 !!!Happy New Year 2008 !!!<br /><br />It's resolution time.<br /><br /><a href="http://www.autofinanceinsider2.blogspot.com">Insiders Advice</a>Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-74671830821524010442007-11-19T10:24:00.001-08:002007-11-19T10:36:31.834-08:00Household announces lower rates for Insiders.Household has just upgraded their preapproval programs and sent these links for you to easily do research. The programs offered are for Insiders Advice readers and could help re-finance a higher interest rate auto loan saving you money. Most banks will change their programs after the first of the year, so apply before Christmas to not miss it. Happy holidays!<br /><a href="http://www.dpbolvw.net/click-2574188-10285418" target="_blank" onmouseover="window.status='http://www.HSBCusa-Autoloans.com';return true;" onmouseout="window.status=' ';return true;"><br /><img src="http://www.awltovhc.com/image-2574188-10285418" width="125" height="125" alt="Treat your loan" border="0"/></a> <br />HSBC Auto Finance is the trusted national company that can help with all of your auto financing needs. <br /><a href="http://www.dpbolvw.net/click-2574188-10285135" target="_blank" onmouseover="window.status='http://www.HSBCusa-Autoloans.com';return true;" onmouseout="window.status=' ';return true;">Apply Now.</a><br /><img src="http://www.awltovhc.com/image-2574188-10285135" width="1" height="1" border="0"/><br />*<br />*<br />Check out a good blog on credit and finance: <a href="http://www.fandi2.blogspot.com">www.FandI2.blogspot.com</a><br />*<br />*Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-26353725595307711362007-10-13T21:33:00.000-07:002007-10-22T06:56:26.561-07:00<strong>Understanding Your Credit Report<br /></strong>by : Warren Clarke<br /><br />If you're in the market for an auto loan, one of the first things you should do is take a look at your credit report. This document provides the data that goes into calculating your credit score; your credit score, in turn, plays a huge role in determining what interest rate lenders will charge on your loan and whether you'll be able to get a loan to begin with.Awash in numbers and data, a credit report can look like gobbledygook to the uninitiated. Getting up to speed on how it works is clearly important.<br /><br />Let's unlock its secrets.<br /><br />Your credit report is a document that comprehensively details your credit payment history. Ever owned a credit card? Or taken out a bank loan? If you have, it's likely that information regarding your account activity will be reflected on your report. But this sort of payment data isn't all that your report will contain. Typically, four types of information are reflected:<br /><br />Personal information. This includes your name, spouse's name, social security number, current and previous addresses, birth date and current and previous employers. This data is culled from your past credit applications, so its accuracy is dependent upon how completely and honestly you fill out forms each time you apply for credit.<br /><br />Credit information. Included is information regarding each of your accounts with banks, retailers, credit card issuers and/or other lenders. Credit limits as well as loan amounts and balances are detailed, along with payment patterns going back a few years.<br /><br />Public information. This includes bankruptcies, tax liens and monetary judgments, and, in some states, overdue child support.<br /><br />Inquiries. Included are the names of those who requested and obtained copies of your credit report. Not all of this information remains on your credit report permanently.<br /><br />Positive credit information will remain on your report indefinitely, although information about an account will fall off your report if nothing new is reported for seven years.<br /><br />Negative credit information remains on your report for up to seven years after the date of the original delinquency.<br /><br />The length of time for which a bankruptcy will dog your credit depends on the type of bankruptcy that you file. Chapters 7, 11 and 12 remain on your credit report for 10 years. If you file a Chapter 13 bankruptcy (under which all or part of all debts owed are repaid under a court-approved payment plan), it will be deleted from your report after seven years. All other public record information typically falls off after seven years.<br /><br />Inquiries are typically cycled off your report after one to two years, depending on the type of inquiry. There is, of course, some personal information that your credit report does not reveal. It doesn't reflect information about your race, religious preference, medical history, personal lifestyle, personal background, political preference or criminal record.The following points shed some light on how lenders evaluate your report:<br /><br />As one would expect, on-time payments are viewed as a plus by potential grantors of credit.<br />A low debt-to-income ratio (under 20 percent) is ideal. This ratio is calculated by dividing your total monthly debt (rent or mortgage payments plus credit card minimum payments plus loan payments and the like) by your total gross monthly income.<br /><br />Lenders tend to frown upon those with too many credit cards. The available credit on these cards is viewed as being potential debt.<br />Late payments hurt your rating. The later the payment (whether 30, 60 or 90 days) the more of a negative it will be.<br /><br />Frequent requests for additional loans or credit cards can count against you. If you've had more than four inquiries made within the past year, it will hurt your chances to get new credit.<br />Numerous changes in address and/or employment may also hurt your rating. Lenders like stability.<br /><br />As one would expect, items like bankruptcies and charge-offs are viewed negatively. If you find information that you believe to be incorrect in your credit report, you'll need to address it. Contact the credit bureau in writing, including documents that support your position. Make sure your letter lists your name and address.<br /><br />Clearly identify the item you believe to be invalid, explain why you think it is erroneous and request its deletion. The credit agency must reinvestigate disputed items, usually within 30 days. The law states that erroneous information, or disputed information that the credit bureau is unable to verify, must be deleted from your file.You're probably wondering how get a copy of your report. It may be ordered from any of the three credit bureaus — Experian, Trans Union and Equifax. Remember, forewarned is forearmed. Even if you're not currently hunting for a car loan, it's a good idea to take a look at your credit report now. That way, problems can be addressed before they have a chance to hurt your prospects.Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-16870614567595951762007-10-08T10:45:00.000-07:002007-10-21T16:43:50.632-07:00Tips for Subprime BorrowersKeeping with the mission to bring our readers quality credit advice, this article by Warren Clarke, the Automotive Content Editor of Edmunds.com is a MUST READ!<br /><br /><br />Getting a Car Loan with Bad Credit<br /><br /><br />You've just learned that your request for an auto loan with XYZ Bank has been denied. The loan officer explains that the decision has to do with your credit score. XYZ lends only to prime borrowers; your credit score, she continues, places you squarely in subprime territory. Subprime. You're not sure exactly what it means, but it sounds like a condemnation that will forever brand you as being somehow deficient to lenders. However, being deemed subprime doesn't necessarily mean that your borrowing days are over. It may still be possible for you to get that sought-after car loan (albeit from a different lender).<br /><br />But first you need to understand the term that defines you. A subprime borrower is one with bad credit. Each lender has its own definition of what constitutes a subprime borrower, but typically, a credit score of less than 620 lands you in this less-than-desirable category. For more information on credit scores, and what sort of factors cause them to suffer, please see <a href="http://www.edmunds.com/finance/credit/articles/47274/article.html">Credit Scores Demystified</a> and <a href="http://www.edmunds.com/advice/finance/articles/47276/article.html">Understanding Your Credit Report</a>.There are plenty of credit grantors specializing in subprime lending who are eager and willing to loan money to those with bad credit. Naturally, though, there's a catch. The interest rates for subprime borrowers are frequently quite steep — significantly steeper than those paid by their more credit-worthy brethren.<br /><br />So, now that you understand what your playing field looks like, how can you finesse the game in a way that gets you a reasonably priced car loan?<br /><br />Here are a few tips:<br /><br />Check your credit report. Make sure that everything on your report is accurate; it could be that information has been entered in error, and that your credit history is a lot less blemished than you've been led to believe. If you do find information on your report that is inaccurate, you need to address it right away. Contact the credit bureaus in writing, listing your name and address and clearly detailing the nature of the error.<br /><br />Access your credit score. For a long time, credit scores were available only to prospective lenders, who used them to evaluate those seeking loans. That has changed; it's now possible for consumers to access this all-important number. Your score is available online from each of the three credit bureaus: Trans Union, Experian and Equifax. If you've got bad credit, it's helpful to know it beforehand. Knowing your credit score will help give you a sense of exactly where you stand in your search for an auto loan.<br /><br />Don't rely on the dealer. Dealers take a cut of all car financing deals they land; as a result, any loan that they're able to get you with a bank or financing company is likely to wind up being more costly to you than if you had contacted the lending institution on your own. Ideally, you'll want to secure your <a href="http://www.infinitifinance.info/">auto loan</a> before setting foot inside the <a href="http://www.autofinanceinsider.blogspot.com/">dealership</a>.<br /><br />Shop around. Rates will vary from lender to lender; take the time to look around and see what deals are available. Lenders typically define their business according to credit tiers (A, A- and so on.); speak with loan officers regarding how each tier is linked to credit score and interest rate. Ask for a matrix detailing the tiers and their implications; having something in writing from each lender will make it easier to compare your options effectively. If you have a checking account, make sure to include your bank in your search for a loan. Many banks have entire departments dedicated to providing loans to those with flawed credit, and they tend to look more favorably upon applicants who are current clients.<br /><br />Your credit unio is also a good place to turn. For years, credit unions have had a reputation of lending only to members with good credit, but that's begun to change. Many are now beginning to expand their business to include those with less-than-perfect credit.<br /><br />Remember that your credit score is malleable and ever-changing. When it comes to your credit history, the ball is entirely in your court. You can improve your bad credit by paying your bills on time, and not overextending yourself when it comes to loans and credit cards. With proper attention paid to the state of your credit, you could conceivably hoist yourself out of subprime territory in as few as two or three years. Going forward, check your credit score at least once annually. You may have to pay more than you'd like for the auto loan you're about to receive, but in a couple of years, if your credit score has improved, you'll probably be able to refinance your loan at a much lower rate.Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0tag:blogger.com,1999:blog-6966240685240870793.post-62423096790325850622007-06-25T07:34:00.000-07:002007-11-19T10:21:50.392-08:00Insiders Advice on how to get an Auto Loan if you have Bad Creditby: AFI<br /><br />"My first post"<br /><br /><br />Hello, I have been a <a href="http://www.autofinanceinsider.com/">Finance Manager</a> in the car business for the last thirteen years. Currently, I am employed at a New Car High line dealership where I am the Finance Director. I am in charge of a fantastic group of guys and it is truly an excellent Finance Department.<br /><br /><br />As a director, an aspect of my job is to decide which Finance Company or Bank to assign the contract recently signed by a customer. All dealerships that do their own financing are considered lenders and can keep the contract in house collecting the principal and interest payments.<br /><br /><br />The common practice is to "assign" the contract to a a lender of choice and receive payment for the contract by that lender, discounting their receivables. All new vehicle franchised<a href="http://www.autofinanceinsider.com/"> dealerships</a> participate in this this practice.<br /><br /><br />Part of my job is also to use the relationship I have with my lenders to persuade them to give approvals for customers with less than perfect credit (sometimes I see some absolutely awful credit). It is tough to get an approval sometimes, and since the dealership wants to sell a car, persuade the customer to sign up at a very high payment.<br /><br /><br /><br /><strong>If you are in the process of applying for an Auto Loan:</strong><br /><br /><br />* Understand that <strong>the approval process could take a day or two.</strong><br /><br /><br />Most dealerships will hold your car or even let you keep driving it on a Dealer Licence plate during this process.<br /><br /><br /><p><strong>Give the salesperson copies of these needed documents:</strong></p><p><strong></strong></p><p><strong>* You will need proof of income. </strong>Acceptable is a recent paycheck stub showing your year to date gross income.</p><p>* A copy of a utility bill (shows proof of residence).</p><p>* A copy of home or cell phone bill.</p><p>* At least three references with addresses and phone numbers.</p><p></p><p>If possible, bring these to the <a href="http://www.autofinanceinsider.com/">dealership</a> when you go to shop this way you'll have them if you find a good car and wish to purchase it today.</p><br /><br /><br /><p><strong>* Be realistic on what you can afford as a monthly payment (a $30,000 car will run in the $ 500's per month).</strong></p><br /><br /><br /><p>* Get pre-approved before coming in. Both you and your salesperson want you to have the car now and my job would be easier if you had a pre-approval number from a lending source.<br /></p><p>The best way is to get one of<strong> </strong>the<strong> "blank check"</strong> offers that are out there. If I can't get an approval for you or if the interest rate I got for you is higher than the interest rate obtained through your pre-approval, you could still take delivery of your car the same day. Several years ago when my credit was recovering from my divorce, I bought a car and used the <strong>Capital</strong> <strong>One</strong> blank check I was pre-approved for. It really felt like I was a cash buyer holding a check to pay for the car, I knew the interest rate, and the payment depended on the cost of the car. It was a good feeling.</p><br /><br /><br /><p>The best <strong>"blank check" </strong>program out there is through <a href="http://www.jdoqocy.com/click-2564872-1610902" target="_blank" onmouseover="window.status='http://www.capitalone.com/autoloans';return true;" onmouseout="window.status=' ';return true;">Capital One Auto Finance</a><br /><img src="http://www.awltovhc.com/image-2564872-1610902" width="1" height="1" border="0"/>.There are a lot of different programs out there, and I have seen each one many times. The customers who come in with RoadLoans blank checks have seemed to have gotten lower interest rates and an easier time getting approved. When I refer a customer, the check is overnighted and they can get their car tomorrow. (No I don't work for <a href="http://www.jdoqocy.com/click-2564872-1610902" target="_blank" onmouseover="window.status='http://www.capitalone.com/autoloans';return true;" onmouseout="window.status=' ';return true;">Capital One Auto Finance</a><br /><img src="http://www.awltovhc.com/image-2564872-1610902" width="1" height="1" border="0"/>, but I recommend you use the link, fill out an application and see what happens). </p><p></p><p></p><p>Please leave some comments about your Financing Experience. I will answer any questions the best I can. </p><p></p>You can send an email to me at: <a href="mailto:autofinanceinsider@yahoo.com">autofinanceinsider@yahoo.com</a><br /><br />The most enlightening website on the internet is: <a href="http://www.autofinanceinsider.com/">http://www.autofinanceinsider.com/</a><br /><br />Explore the Laws and Regs blog for the Automotive Industry at: <a href="http://www.autofinanceinsider.blogspot.com/">http://www.autofinanceinsider.blogspot.com/</a><br /><br /><br />Please bookmark this blog and come back often to learn how you can gen an auto loan with a low interest rate even if you have less than perfect credit.<br /><br /><br />Thank you for your time,<br /><br /><br />AFI<br /><br /><p></p>Auto Finance Insider (AFI)http://www.blogger.com/profile/01242050197078630218noreply@blogger.com0