What Can You Do About Your Upside-Down Car Loan?

Used Car Loans For Bad Credit » Upside Down Car Loans

What Can You Do About Your Upside-Down Car Loan?
If you put ten people who have bought a new car in the last couple years in a room, chances are that four of them are upside-down on their car loans.

An upside-down car loan is the less onerous euphemism for saying that they owe more on their car than they could ever get if they sold it or traded it in. Is this a bad thing? And if you are one of the four upside-downers what, if anything, can you do about it?

Owing more on your car that it is worth is not necessarily a bad thing if you intend to keep the car until it�s paid off, and you have the auto insurance coverage to satisfy the loan if the car gets totaled in an accident. Doing nothing is always an option.

If you are looking to replace the car then you have to do something to close the gap in the unpaid balance of your current loan and the car�s resale value, or be prepared to eat the difference and go even deeper upside-down on your next car purchase.

Some new car lenders will add the amount of the unpaid principal on your old loan to the principal amount on your new car loan. In effect you would be paying that much more for your new car, or still paying for the old car you no longer own, which ever way you want to look at it. Do that a couple times and you�ve paid for somebody else�s Hawaii vacation.

If your current car loan contract doesn�t have a prepayment penalty, you can refinance your current car loan. Refinancing home mortgages to get a better APR is a national pastime but not nearly as many people have done the same with the second most expensive thing they own. Interest rates change all the time and it may be worthwhile to investigate this route. Even if you refinanced at the same rate for a shorter term, your monthly payment would be higher, but you would get out of the negative equity situation faster too.

Pay your current lender extra every month. This can close the gap in a hurry but only if your lender has agreed ahead of time that all the extra money you send will go to paying down the principal balance on the loan. If you just add something extra to your loan payment without working it out first, the lender will most likely just credit the extra toward a future payment. There is no advantage to you paying extra unless the principal portion of your car loan is being reduced proportionately.

Pay off the car loan with a real estate equity loan or a loan from another source. The main advantage to this approach is that you go instantly from upside-down on the car to 100% ownership. You can now sell the car yourself to raise cash for a substantial down payment, or you can trade it in toward the new car.

Car loan amortizations are set up so that the money from most of your early payments goes almost entirely to the interest portion of the loan. During the first two years of the loan, the resale value of the car plummets while the principal portion of the loan barely budges. The sooner in the loan cycle you address your upside-down loan the better off you will be.

(c) 2006 by Peter Boston. Peter is an attorney, writer, and the editor of the profacere.com website, a tips and resource site for car loans, credit cards, improved credit scores, and consumer credit information, updated daily on the Profacere Blog.

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Bad Credit Car Loan Rates

Used Car Loans For Bad Credit » Barrie Bad Credit Car Loans

Bad Credit Car Loan Rates
Are you in a financial turmoil? Did you just file for bankruptcy some time ago? Were all your properties repossessed by a financial institution? Having trouble getting around because your car was repossessed along with the other things you owned? Are you considering trying to get a car regardless of whether it is new or used, but you are concerned about sky-high interest rates?

Your situation is not hopeless. It is untrue that it is impossible for you to get an approved application for a car loan given that you have a bad credit history or that you filed for bankruptcy. The threats sent your way by your debt collector are old fashion threats that worked decades ago.

Now, finding a financing company to help you with your loan problems is very easy. There are many online financing companies that give you very competitive loans and interest rates. They specialize in cases where people like you are caught in a financial jam.

Though it is untrue that you will never be able to get an approval in your loan application, it is true that you will have higher interest rates than you would if you had good credit. Even if you opted to purchase a used car instead of a new one, because of your bad credit history, financial institutions will give you higher interest rates to act as a safeguard for the company. Financial institutions have access to your credit history whether it is credit cards, utility bills, mortgages, etc. to check on your payment behavior. You can opt to get direct financing from the dealers themselves. You have to be very careful because it may be easier to get your loan from the dealer, but the rates are much higher than getting a loan elsewhere.

Bad Credit Car Loans provides detailed information on Apply For Bad Credit Car Loans, Bad Credit Car Loan Rates, Bad Credit Car Loans, Bad Credit Car Loans Online and more. Bad Credit Car Loans is affiliated with Bad Credit Auto Loan Refinancing.

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A Car Loan Calculator Is Your Reliable Friend To Get The Best Deal On Car Loans

Used Car Loans For Bad Credit » Car Loans Calculator

A Car Loan Calculator Is Your Reliable Friend To Get The Best Deal On Car Loans
The secret of any correct decision is the speed with which you can gauge various options available to you and a car loan calculator can certainly provide all the information that you might need to know before you make your decision regarding cheap car loans. All that you need to do is to feed certain basic data into the calculator and you will get results in a jiffy. It�ll become easier for you to compare the various options that you might be faced with and to decide what would be best for you.

How A Car Loan Calculator Can Help You

Car financing involves so many varied aspects such as the amount of the loan, the interest rate applicable, the duration of the loan, the amount of monthly payment and the other expenses involved in servicing the loan. When you are planning to take a car loan, you can obtain the information regarding various offers for auto car loans and then use the car loan calculator to compare the various offers and indicate the best option for you. The basic concept of this system is that if you know one of the variables like the amount of monthly payment that you can afford, you can easily find out the amount of loan that you could take and the time period.

Conversely, if you have decided that you would like to take a certain amount of loan, the car loan rate calculator will provide you with the amount of monthly payment that you would have to pay and the time period of the loan. By comparing these variables of various offers, you will know exactly which offer will suit you best. A car loan calculator will also be very helpful in deciding whether you should buy a car or simply lease it.

Availability Of Car Loan Calculators

You can find many free car loan calculators on the Internet as Excel Spreadsheet Download Areas. Capital One Auto Finance and E-LOAN also offer these calculators online. They can also be downloaded on your Pocket PC type PDA. The Internet is full of such free car loan calculators that will help you to work out various options and compare them. However, it�s important to remember that these are not quotes.

While using the car loan calculator, you should not miss out various other aspects of car loans such as maintenance, insurance and other expenses that you might incur while taking a loan. All these expenses must be fed into the calculator in order to get the true picture. These calculators can also be very helpful in deciding whether you should go in for a new car or a pre-owned one. Each decision that you take boils down to whether the deal will be financially advantageous to you and a car loan calculator is your best friend in this regard.

A car loan calculator can give you the pertinent figures regarding car loans and compare various offers in no time at all, making it easy for you to make your decision regarding auto car loans or car financing correctly and at the opportune moment.

Read on Low Interest Car Loan to find out more about getting the best deal on car loans.

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Hope Again For Your Dream Car With Adverse Credit Car Loans

Used Car Loans For Bad Credit » Car Loans For No Credit

Hope Again For Your Dream Car With Adverse Credit Car Loans
Adverse credit car loan is designed for the people who have adverse credit record against their names. Cars definitely have become more of a need than being a luxury and an adverse credit car loan turns out to be the perfect way to grab the keys of your dream car, in spite of your poor credit record.

It’s right to say buying a car is an expensive affair and the not so impressive credit history of yours, further ruins the situation. The four main reasons that contribute to poor credit are as follows-CCJ, defaults, arrears and insolvency. But, adverse credit car loan takes care of your interests and helps you to buy a car of your choice.

Adverse credit car loan has two major division-secured and unsecured adverse credit car loans. Low interest, small monthly installments and long repayment time are the benefits of secured adverse credit car loan. However, your property is at stake if you are not able to repay to the lender. And if you don�t want to loose your property then opt to unsecured adverse credit car loan where there is no requirement of collateral. But high interest rate, big monthly installments and short repayment period are its negative features. To get in touch with lender without any hassles and in a direct manner searching the Internet is the most advisable option.

Forget your worries now; a car of your own is still possible!

About The Author
The author is a business writer specializing in finance and credit products and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting Adverse Credit Car Loan as a finance specialist.

For more information please visit:http://www.adverse-credit-car-loans.co.uk

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No Credit Check Car Loans

No Credit Check Car Loans

Credit problems can arise at any time, often without warning. If a person with bad credit is looking for a good car loan, the process might be a little difficult. Getting through the car loans process easily with bad credit can sometime be overwhelming for some people. It is for such people that no credit check car loans are offered.

No credit check car loan is one way of overcoming bad credit problems. Finding car loans with no credit checks can be slightly hard. The no credit check method allows a person to get a loan even if he has bad credit. The application will not be rejected due to bad credit scores.

There are plenty of such loans to choose from. A little bit of research will provide you with a variety of options. The important thing is not to be in a hurry to sign up a no credit check car loan.

It is vital to take some time and look around carefully. Ask for free quotes from various sources, and then compare these quotes to see which car loan offers you the maximum benefit without credit checks. The policies and repayment terms should also be looked into carefully before making a decision.

No credit check car loans usually have higher interest rates. This is because the loan is not dependent on the credit scores, which also means that usually no collateral is required. When researching no credit check car loans, be sure to also take a good look at the annual percentage rate (APR). No credit check car loans with lower APRs will obviously cost less.

No credit check car loans normally have a repayment period that lasts from 3 ? 5 years. For larger loans, some of which require collaterals, the loan term can extend for up to 10 years. As far as possible, it is advisable to go in for loans that run for shorter terms, since paying long term loans can cost a lot more in the long run.

Car Loans provides detailed information on Car Loans, Car Loan Calculators, Bad Credit Car Loans, Used Car Loans and more. Car Loans is affiliated with New Auto Loans.

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Bad Credit Car Loans

Bad Credit Car Loans

Having bad credit does not mean you cannot buy a car. There are many car loan companies offering bad credit car loans. You have to search online for the right lender, whose rates and terms are reasonable for you.

It is always better to apply for a bad credit car loan with a co-signer, because if you don�t have good credit, you may as well look for someone who does. Lenders will look at the record of the co-signer. If you are a couple, you may as well find your credit scores online, and use the partner with the better credit score to apply for the car loan. Before applying for your bad credit car loan, update your credit score by reviewing your free copy online and making sure that all information in it has been upgraded. Lenders like to see some cash assets in your bank account, which may be in the form of a savings account, money market, or CD. Moreover, the less debt you have, the better you look to the lenders.

Never lie to the lenders. Getting a car loan after bankruptcy is a great way of building back your credit history. So give your honest information to get the most accurate loan estimate, through which your bad credit car loan�s interest rate is determined. Explain what led to your bankruptcy situation, and the steps taken to resolve your credit position. Many lenders are willing to listen to you while considering your application for a bad credit car loan. Once your loan is approved, keep your eyes open for future refinancing. This can be achieved by making regular payments so that in a year�s time you qualify for a lower interest rate. In this way, you are able to improve your credit score, to thereby qualify for lower interest rates on loans.

Car Loans provides detailed information on Car Loans, Car Loan Calculators, Bad Credit Car Loans, Used Car Loans and more. Car Loans is affiliated with New Auto Loans.

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Car Title Loans – Giving You A New Opportunity

Used Car Loans For Bad Credit » Car Title Loans + Va

Car Title Loans – Giving You A New Opportunity
Car title loans is another name given to payday loans, where a small amount of loan is given to the borrower at a high rate of interest, on the security of the borrower’s car. Although, it is considerably easier to get this type of a loan, it is much more risky than normal loan; if you do not pay off your auto car loans on time, you could lose your car that is of a much higher value than the loan you have taken.

Make Payments On Time

When you decide to take car title loan, you should follow a strict routine of repayment and pay your dues on the due date. When you take car title loan, you have to provide a spare set of keys to the lender. If the loan is not repaid on the due date, the lender will sell off the car a repay the loan from the received amount. In some states, there are laws, which allow the lender to keep the balance amount after sale of car; which means, if the car is sold for a higher value, the amount above the loan and interest will not be returned to the borrower.

When you take car title loan and place your car as collateral, you still pay a huge amount of interest on the loan you take. Sometimes, the interest is more than 300% per year. It is much better to take car loans for a longer period than car title loan, which you take for a mere two-three weeks. Moreover, the loan itself is of such a small value that it rarely covers half the value of the car.

The best medium for car title loan is the internet. Internet is also the best place to get an easy online car loan. You will find numerous lenders offering competitive rates and offering various discounts for customers, who want to purchase their car from them. You just have to make the right choice of lender and the car you want to purchase. The approval of your car loan is done on the internet in a few hours of filling in the online application form.

Car title loan are always beneficial for the lender, as he is getting an asset of a much greater value than the loan he is giving. If the borrower defaults in payment, the lender can forfeit the car and recover the cost of the loan. Car title loan is not advisable for persons with limited income, as there is greater risk of default in payment. For these types of customers, it is better to take a car lease, where you keep and maintain the car, as if you own it and return it to the owner once the lease is over, in tip-top condition.

Car title loans are your best bet if you are short of cash. You can take car loans, a car lease or an easy easy online car loan according to your choice and convenience to get your dream car.

Source: www.articletrader.com

Car Loans Poor Credit History – Materializing Your Dream Car

Used Car Loans For Bad Credit » Car Title Loans For Poor Credit

Car Loans Poor Credit History – Materializing Your Dream Car
Are you tired of traveling in crowded and slow buses? If this is so then purchasing a car seems to be good option for you. In today’s world, time is synonymous to money. You can save lots of time by purchasing car. Car loans poor credit history aim at providing financial assistance to people suffering from poor credit history.

FICO credit score ranges from 300- 850 points. Anyone having a credit score of less than 600 points is considered as a bad creditor. If your credit score is less than 600 points then you are eligible to avail car loans poor credit history.

Car loans poor credit history are available in both the traditional forms namely, secured car loans poor credit history and unsecured car loans poor credit history. To avail secured car loans poor credit history you need to place one of your properties as collateral against the loan amount. This helps in reducing the rate of interest of loan and also getting flexible repayment options. No such collateral is required in order to avail an unsecured car loans poor credit history but the interest rate is slightly higher compared to secured car loans poor credit history. Lenders charge higher interest rate to minimize the risk factor. The loan amount that can be availed with car loans poor credit history ranges from �1000 -�25000 with repayment duration of 1- 10 years.

Car loans poor credit history can be availed by both tenants and homeowners. You can improve upon your credit score by paying the loan installments regularly and on due time.

Either you can visit various banks, financial, institutions and lending firms personally or you can apply for car loans poor credit history through online method also. To apply for car loans via internet you just need to fill up an online application form mentioning details like amount of loan you want, repayment duration, your contact details etc. You can also use Internet to search for lenders with reasonable interest rate. After getting the details of lenders you can compare between the interest rates offered by them and select the one that suits you the best. With car loans poor credit histories you can make you dream of owning a car come true.

Christian Phelps is a Masters in Accounting and Financial Management from Lancaster University Management School . He has been working with loan for self employed since his academics got over. To find bad credit car loans, used car financing, car loans online, Car loans poor credit history, car loan for people with bad credit visit http://www.badcreditcarloansuk.co.uk

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How to Get Cheap Car Insurance in Indianapolis, Indiana

Used Car Loans For Bad Credit » Car Title Loans In Indianapolis

How to Get Cheap Car Insurance in Indianapolis, Indiana
In Indianapolis, Indiana drivers should be aware of the fact the state government�s Department of Insurance doesn�t set car insurance rates. This may seem like it�s a precursor to companies charging more than is necessary, but it actually has an opposite affect. Motorists in Indianapolis who are looking for car insurance may actually enjoy the benefits of the competition going on between the different insurance companies.

There are naturally other ways to go about finding cheap car insurance in Indianapolis, Indiana and the first place to look may surprise you. If you are already paying premiums for a life, health or home policy, ask that insurance company if they handle car insurance as well. They may offer a discount on the second policy you secure with them. In fact, many companies offer a discount on every type of insurance policy you purchase from their company. It certainly doesn�t hurt to ask if this is an option. If you do decide to go this route, ensure that you carefully consider the financial consequences of switching to any other companies for any of the types of insurance in the future.

Another great way to get a cheaper car insurance rate is to ask about any discounts for low mileage. Some people only use their vehicles once in a while. This means that the majority of the time the car or truck is sitting on their property. Many insurance companies offer cheaper rates to individuals who fit this mold. There is generally a requirement of having to validate the mileage by signing a form attesting to it each year when the car insurance is renewed. Obviously you don�t want to cheat on this if you are driving more than is permitted, but if you are an occasional driver, use this discount to its full advantage so you can get cheap car insurance in Indianapolis, Indiana.

Recommended sites for low rate insurance

Cheap Car Insurance Quotes in Indianapolis, Indiana
Combined Home and Auto Insurance Quotes

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Car Title Loans – Fast Easy Cash

Used Car Loans For Bad Credit » Car Title Loans In Nj

Car Title Loans – Fast Easy Cash
Sometimes it may happen that we find ourselves in some urgent need of money and can’t really wait for it. To avail easy and fast cash, car title loans may prove to be a viable option for you.

As the very name suggests, car title loans are granted against the title of your car. But, when you need some cash urgently to fuel your unseen and suddenly emerged financial requirements, you don’t mind putting your car as collateral against the loan.

Car title loans are strictly secured types of loans and come against the car you own as the security. However, the car should be totally in the name of the borrower who is asking for the loan. And also it should be free from any out standings against it. The mortgaging of the car as security by the borrower helps to assure the moneylender and thus an easy grant of the loan.

Defrayal terms and conditions

The loan is generally granted for a period of a fortnight to a month. By the end of the tenure you have to pay back the loan to the moneylender. However, if you fail to pay back the loan amount at the end of the scheduled time, you may apply for extending the loan term. This may help you get another month for the reimbursement. However you need to pay the interest rate for the extended period of time as well. Some, financial organizations may extend your loan term up to 8 consecutive times.

Interest rates

As these loans are processed very fast and on a very short notice of the borrower, these loans carry comparatively higher interest rates. The interest rates may vary from � 10 to � 30 per � 100. But, since you are going to pay the loan back very soon, the interest doesn’t pile up to be much.

You may easily apply for the loan online and peruse the conditions. With car title loans you can easily fetch a loan amount ranging from � 100 to � 500. So, it is just good enough to pay your small financial emergencies.

Scarlette started on a horse back and had a few falls herself. Therefore, she knows Financial decisions are to be made after considerable thought and backed by good financial understanding. To Know more about cheap car loans, unsecured car loans, car loan in the uk, Car title loans, used car loan uk visit http://www.cheapcarloansuk.org.uk

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