Can someone please tell me the positives & negatives of aquiring an auto equity loan?
Q. Can I refinance a current auto loan into an auto equity loan? My primary motivation for wanting an auto equity loan is so I can deduct the interests from the auto loan against my income. Serious answers only, please.
Asked by bigpoppamike21 - Fri Mar 28 03:48:50 2008 - - 1 Answers - 0 Comments

A. No... You have to hold the title free and clear to get an auto equity loan. Sorry... :(... An auto equity loan is simply a loan made using a car you own free and clear as collateral. A car with a lien on the title really isn't yours and you can't use it for collateral. You can refinance your auto loan if you find a better rate somewhere else and they're willing to do it... or if you find a finance company willing to lower your payments... If you're a homeowner, there is a way to finance a car using the home as collateral. This type of loan can have tax advantages and a better interest rate. I believe you have to own the home free and clear for that though... If that's what you're talking about and you do own a home, I'm sure someone… [cont.]
Answered by shidhet - Fri Mar 28 04:46:22 2008

How long should you be employed before qualifying to refinance an auto loan?
Q. I would like to lower my monthly payments by refinancing my auto loan. I have a good credit score to refinance (700s). I was recently unemployed (from October to February). However, I am about to start a new job this March 1. How long should I be employed to qualify for an auto loan refinancing? (if there is such a requirement) Thanks, I appreciate it.
Asked by Chris - Mon Feb 22 22:37:09 2010 - - 5 Answers - 0 Comments

A. I checked with a bunch of places when we were looking to refinance. When they'd give me a straight answer they said you have to be employed a minimum of 3 months before they'd consider you for refinancing. We also moved at the same time as the new employment started, which also proved to be a problem for some people. Or it could have been the combination of the move and new job. We have excellent credit so that wasn't a factor.
Answered by breezy87 - Mon Feb 22 22:59:12 2010

Can you get an auto loan without a down payment?
Q. I'm interested in buying a used car but I don't have the money for a down payment. Can someone still get financed at a car dealership for an auto loan with zero down? The car I'm interested in is a 2004, costs about $13,000 with low miles. I don't have bad credit but it's not perfect either.
Asked by TiTi - Wed Jan 16 04:14:02 2008 - - 4 Answers - 0 Comments

A. Every Auto loan I've ever taken out has been without a down payment. But I also have excellent Credit. The best place is a credit union. They have the best rates.
Answered by crookmatt - Wed Jan 16 04:17:58 2008

how can a lending legally change a due date for a auto loan?
Q. We have a auto loan with (CPS) Consumer Portfolio services. In a battle for over a year now they change our due to insure more interest on the loan, without us giving permission to change why is this legal to do. If they can why make up a contract at all. I would not recommend the firm at all for any loans they are really un helpful with regards to working with anyone on loans.
Asked by russ A - Tue Aug 4 14:13:01 2009 - - 2 Answers - 0 Comments

A. Read the contract. It may give them the ability to do that.
Answered by Michael C - Tue Aug 4 14:19:31 2009

Where can i go to get an auto loan on a vehicle either online or in the Atlanta area?
Q. Where can i find a $8000.00 auto loan for a private party purchase in georgia or online from a legit company for a 97 jeep wrangler? Please help!
Asked by <3BLM - Mon Jan 26 13:22:54 2009 - - 2 Answers - 0 Comments

A. One of the website where I got my auto loan is mentioned below for your reference. May be they can help you too. All the best!
Answered by Dallas G - Tue Jan 27 02:53:26 2009

What is a good amount to borrow when applying for an auto loan?
Q. I am applying for an auto loan and am new to this. I am not sure what amount to ask for or loan term. I can afford $250-$300 a month.
Asked by ndhlp28 - Thu May 3 22:28:14 2007 - - 2 Answers - 0 Comments

A. The smallest amount possible , Loans just flush $$$ down the drain by paying % . And Car loan % is NOT even tax deductible ! <
Answered by kate - Thu May 3 22:32:49 2007

Can I transfer my auto loan from one bank to my personal bank that I bank at?
Q. I went through a dearlership to purchase a new vehicle a year ago. They go thru a certain bank to finace the loan. What I would like to do is take the auto loan from bank "A" and transfer the auto loan to my own personal bank "B" where I bank at. Can I do that without any problems? I still have like 2 1\2 years to go on the loan yet to pay it off.
Asked by randy j - Mon Mar 3 01:29:48 2008 - - 6 Answers - 0 Comments

A. Sure -- if your personal bank is willing. Talk to them and see; they may -- or may not -- offer you a better deal than you have now. On my last car purchase, the dealer found a lender that offered a considerably better deal than my bank.
Answered by rhsaunders - Mon Mar 3 01:34:00 2008

What is the best way to refinance an auto loan?
Q. We just bought a car today with a high apr, we used the dealer's financing. We have a great credit history however our 'auto' credit score is lower than our overall score. What is the best way to refinance an auto loan? Is there a way for us to repair our auto credit score, if so, how?
Asked by Bella's Mom - Fri Feb 27 23:50:47 2009 - - 2 Answers - 0 Comments

A. Check with a local credit union for accurate advice. Good luck.
Answered by kearneyconsulting - Fri Feb 27 23:59:32 2009

Which is the best company to get an auto loan from?
Q. I've been doing some research on auto loans and was wondering if I could get a second opinion on auto loans. Which is the best company to get an auto loan from? What should one look for when applying for an auto loan? I understand that this question really depends on the individual that is applying for an auto loan and what their story is, although, on average, which is the best?
Asked by Eugene Y - Sat Nov 1 16:01:45 2008 - - 4 Answers - 0 Comments

A. Well, the "best" car loan is usually going to be the one that offers you the lowest interest rate! How good is your credit? Try your own bank first...if you have a good relationship with them, they might offer you a good rate. Credit Unions almost always offer the best rates. If you are a member of a credit union, or have one available through your job, check there. If you or your parents are in the military, or are military veterans, see if you are eligable for a loan with Navy Federal Credit Union or USAA. They offer great rates. If you have not-so-great credit, check out RoadLoans online. I would recommend going to the dealership with outside financing already secured, if possible. If you don't qualify for outside financing,… [cont.]
Answered by MezzoDiva - Sat Nov 1 19:15:23 2008

What kind of auto loan do I get with a 685 score?
Q. I have 680, 685, and 689 FICO scores based on the 3 bureaus. What kind of auto loan (interest, max amount etc) can I get?
Asked by juankiboi - Fri Dec 7 09:39:01 2007 - - 7 Answers - 0 Comments

A. You're right on the bubble between being considered Prime and Near-Prime by most auto finance companies. It also depends on whether you're buying a new or used car. You should first check with your banking institution or credit union since they're most likely to give you the benefit of the doubt and put you in the Prime category where you'll get the lowest rates. Also check rates online with auto loan providers like Capital One Auto Finance.
Answered by Brian P - Fri Dec 7 15:32:41 2007

Where do I find an auto loan for a 1996-2000 model vehicle?
Q. Banks almost exclusively require an auto loan be applied to a vechicle 5-7 years old or newer. Does anyone know of online lenders who will lend for an older model vehicle? We're still talking about valuable cars, valued in the $7000-1000 range.
Asked by BigFriday - Wed Jan 23 13:48:29 2008 - - 4 Answers - 0 Comments

A. Many dealers offer 3-5 year loans on cars from 96-2000 you have to shop around. Depending upon credit. Also look up that info thru google or yahoo and you may get hooked up with someone online who can help. I found loans on 97-2000 locally with good credit but only let you take them out for 3 - 4 years. Also buy here pay here is another option or inhouse credit places. Try them also. Good Luck. www.lackomotorsports.com
Answered by lackomotorsportsllc - Wed Jan 23 13:53:53 2008

auto loan?
Q. can i get an auto loan if im in college and only 18 w/ no credit because i want a 15,000$ auto loan
Asked by Taylor - Fri Nov 23 22:03:45 2007 - - 4 Answers - 0 Comments

A. The only way you would realistically get approved would be to either have a co-signer, or a hefty down payment. Each lender uses a different formula when calculating an approval, so if you really want to try and purchase one, I would suggest going to a larger dealership which may have more resources than a small dealership. You could try a buy-here, pay-here lot, however I would strongly suggest to avoid them Good luck and I hope this helps.
Answered by The Auto Evaluator - Mon Nov 26 01:54:33 2007

Why would an auto loan not appear on a credit report?
Q. I applied for a new car, but still had a loan on a car I bought in the past. When they pulled my credit report, my old auto loan didn't show up? I have less than 6 months left on it, but shouldn't it still show up in my credit report? It isn't that they don't report, it showed up before on other applications for credit cards and such. It is an installment loan through a bank.
Asked by ROCKER_CHICK - Fri Jan 22 13:31:50 2010 - - 6 Answers - 0 Comments

A. Auto finance is what I do for a living and there are a few reasons this could happen. 1. There is no law requiring any lender to report to any credit bureau. 2. If it was a co-signed loan it's possible that it was reported only in the primary signers name and not yours. 3. If you bought from a buy here pay here lot over 90% of them do not report (this keeps the customer captive so they have to go back to the same buy here pay here place when they want to buy another car). 4. It's possible that the lender did report but it go mixed up and shows on someone else's report. If I were you I would call the lender and simply ask. They can update the report if they want to but don't bet on it because it cost them money every time they report… [cont.]
Answered by SPIFIMAN1 - Fri Jan 22 14:11:26 2010

Can I get an auto loan without a source of income but with a co-signer?
Q. I'm planning to buy a 2010 Nissan Altima .Wondering if I can get an auto loan without a source of income. I have many relatives who are willing to be my co-signer. In this case, can I get an auto loan. Does IRS get involved in the process?
Asked by nelle bissell - Fri Jun 25 14:34:29 2010 - - 3 Answers - 1 Comments

A. If you want to find the lowest auto loan quote just in one minute, check out this site Here you can get quotes from all auto loan companies in your area, its the best way to find an affordable auto loan with a reliable company.
Answered by leelah fanning - Fri Jun 25 18:12:40 2010

Will refinancing my auto loan to a lower monthly payment and less interest paid out, hurt my credit score?
Q. I'm preparing to buy a house next year and doing everything in my power to increase my credit score when the mortgage process starts. I have an auto loan @ 6.24% interest rate, and my truck will be paid off in 3 years. I've pretty good credit right now. However, if I decide to refinance my auto loan for a lower interest rate and monthly payments, will that hurt my credit score?
Asked by BleadGreen - Tue Sep 25 15:31:13 2007 - - 3 Answers - 2 Comments

A. the real answer is yes. paying off your loan can hurt your credit score. The first auto credit score will be paid off and that builds credit. However your new loan will have a high balance and will add new debt that lenders will look at. If you want to increase your credit score make larger payments on the car loan. In order to increase your credit score make sure you pay off balances and do not get your credit pulled by a lender. Also make sure you order a copy of your credit score (this does not count against you) so you can check for errors. finally make sure your good credit is updated as this can really help build your score.
Answered by dan - Wed Sep 26 08:49:12 2007

Can auto loan company contact you 4 years after the loan was paid off and say they made a mistake?
Q. I paid off my auto 4 years ago. Now, the company is contacting me saying they made a mistake on the payoff amount and i have to pay them over 3000. I have the title and notice saying the loan was satisfied. Are there any legal actions that I can take? Yeah, I paid the car off about 4 months after purchasing it. I paid it off when I sold my house.
Asked by Lynn - Wed Feb 11 12:09:51 2009 - - 4 Answers - 0 Comments

A. First request your free credit reports from annualcreditreport.com or call them toll free @ 1-877-322-8228 for all 3 free reports. If it shows the account is closed on the report, let them do whatever they want. If you have the title, that's even better. If they give you a hard time about it, just play their game and call them every 10 minutes and tell them you're waiting for a call back from the president of the co.
Answered by stan c - Wed Feb 11 15:52:09 2009

What is the average interest auto loan rate these days?
Q. What is a good or average interest rate on an auto loan? For a brand new car that is. I know it depends on your credit, so please don't give me that answer. Still, even with good credit or average credit, how do I know the average interest rate for auto loan unless someone tells me please.
Asked by Lana H - Fri Aug 10 18:07:56 2007 - - 8 Answers - 1 Comments

A. the diff in good credit 3.9 %-7 % great credit 0-3% or not so good credit 8-15% it really makes a big diff especially if your going new car. diffs in pmt could be 280-450.$ just from a higher rate
Answered by mike t - Fri Aug 10 18:20:37 2007

What is the process of getting an auto loan and using it?
Q. Im trying to trade in my 2008 chevy hhr for a 2009 Honda Ridgeline which is 33,000 and I am trying to get a auto loan too. I was trying to get a 15,000 to 20,000 auto loan. Do i have to pay both the monthly payment of the truck to the financing company that will accept and the auto loan?
Asked by marhta suttle - Fri Sep 25 20:02:57 2009 - - 1 Answers - 0 Comments

A. Check out this site to find the best auto loan just in one minute, Here you can get free quotes from different auto loan companies in your area, its the best way to find an affordable auto loan with a reliable company. Best Wishes,
Answered by dorie osborne - Tue Sep 29 17:55:07 2009

Where is the best place to refinance my auto loan?
Q. When I first got my auto in March 2006 my interest rate was 17.9% I refinance in September 2006 with E-loan for a rate of 11.04% we recently bought a home and our finally establishing some credit. So I think its time to refinance again. Does anyone recommend a great place to get a great rate? Thanks I really appreciate it!
Asked by ml - Sun Mar 25 13:24:38 2007 - - 1 Answers - 1 Comments

A. Why not use E-loan again? Realize that interest rates have risen during the past 2 years and with your mortgage, you may not be able to do better than 11%. Plus, your car has continued to depreciate and there may not be any equity remaining for a refinance. Just be happy with what you have and make timely payments until the balance is $0.
Answered by Bob - Sun Mar 25 16:44:38 2007

What are the chances of getting an Auto Loan from a credit union?
Q. Hi I am really in need of transportation and was wondering if a Credit Union would be the best way to go for an auto loan. I am 19 years old and don't have the most established credit but all I am looking for is $4,500 and I will have $1,000 for a down payment. Does anyone even offer auto loans that small or would I have to look into a different kind of loan? Thank You.
Asked by Pro ViZion - Thu Aug 13 20:23:35 2009 - - 1 Answers - 0 Comments

A. You can call local credit unions for Information on your type of loan, but I would start by opening a savings account and show regular deposits every pay period.
Answered by dusty_titus - Thu Aug 13 20:31:06 2009