Auto Loans For Students: Helping Students Own Vehicle

In student life often usage of public transportation hurts you. You get tired of having to walk to class in wet, cold weather. Maybe you need a car to get to and from a new job that you just started. You can apply for an Auto loans for students, even if you have no credit or bad credit!

The most striking feature of the auto loans for students is that they are specially made for the students keeping in mind their comfort and discomfort. There are very less percentage of students who has good credit history. Hence, these loans are meant for students with no or bad credit history as well as good credit history.

The amount for the loan should be applied carefully. That is, you must not take excess fund just spend on other less important things. The amount is dependent on the choice of the car that you want to buy.

Repayment period is usually of 5 years but it can be stretched up to 7years. The student car loans are of secured type. Your car is kept as collateral which will be possessed by the company for reselling. You should always try to make your down payment as high as possible for you. This will leave you with smaller amount to be paid as monthly installments. Down payment of 20% is advisable.

The auto loans for students are best availed through website. There are countless lenders websites offering you such loans. Just a small formality is required. You will have to submit online application. However, you need to keep in mind to tally all the terms of loans offered by various lenders before committing.

Car Dealer Leasing Tricks

Too often when it comes to auto-leasing, people get so dazzled by the myriad terms and the jargon thrown their way that they end-up paying through the nose, relying on a dealer’s “help” than their own informed decision.

Here is a look at some of the tricks dealers use to pad their profits and leave the customers shelling hundreds of dollars more than the deal should be worth.

Trick 1: Leasing always a better deal than buying

Dealers use the lure of lower-monthly payments to entice customers to sign for long-term loans, with terms stretching for five years or more, making the payments even lower. There are two catches with such lengthy contracts: higher mileage, exceeding the prescribed limit, and hefty repair costs.

With leases charging on average 10 to 20 cents a mile for any extra mile over the agreed amount in the contract, and warranties only covering three years, you leave yourself wide open for hefty charges for excessive mileage and wear and tear.

Trick 2: Cheap 2-3% APR rate on your lease

The dealer is not quoting the interest rate you would be paying on your lease; he’s rather giving you the lease money factor. Whilst similar to an interest rate and important in determining your monthly payment, a more accurate rate is calculated by multiplying the money factor by 24. For example a “cheap” 3% money factor is 24 X 0.003 = 7.2%. This gives you a better sense of what your annual interest rate on your lease contract is.

Trick 3: Stress-free early lease termination

Dealers know consumer driving needs change and they would like to have the option of getting out of a lease commitment sometime down the road, before their lease ends. Truth of the matter is, when you sign for a lease, you are effectively saddled with monthly payments for the remainder of the lease term and there is little-choice of getting out early. Lease contracts carry hefty financial penalties for either defaulting on monthly payments or terminating the lease earlier than the scheduled term.

To avoid being on the receiving end of such tried-and-true tricks, educate yourself about leasing. Get down to the nitty-gritty and understand what the leasing terms used by dealers mean. Crunch the numbers along with him and understand how they arrived at the monthly payment figure. Don’t sign anything until you’ve understood all the terms and your numbers much those of the dealer. Do not let the dealer pressure you into signing; you are the one to determine whether the agreement is right for you.

Buying Cars – What, Where And How Of Availing Auto Loans

Many individuals send e-mails and mailers to inquire about the best way of buying a car through car buying services. The questions also include other issues such as how to find proper auto insurance, how to avail car loans, and how to avail best car loan rates. Some individuals desire to buy a cheap car to drive around and later sell it, while others want to buy a brand new car and keep it on permanent basis. We hope you find it useful.

Places to buy a car:-

New cars are generally sold by factory-authorized dealers that specialize in certain brands of cars through car finance facilities. In certain cities, big car marts offer a wide range of selection in terms of different brands of cars under a single roof, and these places offer good car finance loans. Some internet companies boast in offering the best possible price for your new car through their car loan programs. All new cars will have a summary note attached with the vehicle listing all the features and options offered by the particular model. It’s important to note that the price is usually negotiable, and that majority of the buyers always pay a lesser amount than the window sticker price. Used cars are also available from new car dealers, and from independent used car lots as well as private individuals. These places provide attractive car loan rates. Used car lots offer older vehicles at attractive prices with a limited warranty attached to the price tag.

How to find your car?

Newspapers always display advertisements for new as well as used cars offered for sale by the dealers, used car lots, and individuals wanting to dispose off their existing vehicles. The Sunday edition generally advertises the biggest selection. Many internet sites also list cars and their models for sale in various parts of the USA. In addition, car magazines present attractive adverts for used auto finance having low car loan interest rates.

Buying your car:-

The registration laws of motor vehicles keep on varying from state to state. However, most states require the owner of a motor vehicle to possess a car title or certificate stating the ownership registration with the state motor vehicle bureau. While buying your car, the seller needs to produce the car ownership papers. Generally, the buyer as well as the seller has to appear before a motor vehicle registration representative to make the sale official by signing the related papers. The state transport bureau later records the information. At the time of buying the car, whether through car loans or auto loans, the buyer is required to pay a registration fee and any sales tax for the purchase. The registration officials are available at all automobile club offices. It is not advisable to buy a car when someone offers to sell it without proper papers. Chances are you could be purchasing a stolen car.