Getting the lowest Auto Financing Rate According to the Consumer Federation of America, car buyers are often overcharged by 3% on their loans at the dealership, which can add $1000 to the life of their loan. Your best sources for new car financing are auto loan sites such as Capitol One Auto Finance (who I used in 2004 and it was smooth as silk. Read How I Saved $5500 Buying my new 2004 Lexus GX470 SUV for more info) and HSBC Auto Finance. With the lowest online auto loan rates, they usually beat dealers, no application fees or down payments. Your new car loan is approved in minutes. Get your online auto financing quotes, compare to dealer auto financing, use whoever has the best car loan interest rate. Online auto loan rates are the standard for dealers to beat. Use online car loan payment calculators and choose your best auto financing.

auto loan refinancing If you are going car shopping, get your credit report instantly online right now so you'll have it and apply for car loans online now so you'll know now whether you are qualified. DO NOT apply for a car loan unless you have your credit score in hand. You can get your credit report instantly online from Experian, Equifax or TrueCredit. Be sure to get your credit score with the credit report. If your credit score is below 550, don't bother applying for a car loan until you repair your credit first. Learn how to repair credit at our other site DebtWizards.com.

auto refinancing It's true, most bad credit borrowers can indeed refinance to a lower APR, but many don't think to try because they were "programmed" or duped by the dealer into thinking they are stuck at 21-25% APR.

auto refinance loan approval Auto refinance loan applications need to be in the same names (with exact spelling) as the names on your current auto loan. This is important because that is how your current auto loan is identified and found. Have your car loan account number ready. If you give them a name with a different spelling, they cannot find your current loan, and you get rejected. Sounds like a no brainer, but... You must refinance more than $7500. Any less and it's not worth the auto refinance company's time.

refinance my car No you can't. If your car loan is with Greedy Bank USA, they will never refinance your car loan to a lower rate APR. Why would they? They already have you trapped. When you are auto refinancing, you must always do it through a different lender than your current car loan

The car dealer credit score scam This scam happens all the time and explains why thousands of car buyers are paying way too much APR than they should be, and don't even know it. All because they did not know their own credit score before going to the car dealer. One guy emailed me to say his score was 780 (Excellent rating) from 3 credit bureaus.

Credit score myths This could not be more wrong. Many people get upset when they get their credit score and find out just how low their credit score is. Sure paying on time is one of the best things for your FICO score, but it's only one of over 100 variables making up your credit score. Having many open accounts does just as much damage to your credit score, as there is potential for you to run up your credit limit on all your accounts. People with good credit tend to have too much credit, and too many old accounts that they no longer use. Lenders view that as a risk. When I got my score it was ok, but needed improving by closing half a dozen computer store and department store cards which I no longer use, but they were dragging down my score.

Benefits Of Car refinancing on the web Get your Credit Score so dealers can't lie to you about your score. Close old accounts, they are excess luggage dragging down your credit score. Remove erroneous previous addresses and other errors off your credit report. Try to get any "Charge Offs" removed by negotiating with your creditors. Wait until your score goes up to 680 if you're applying for a prime car loan.

What's on your credit report Some sites give you your credit report free, but you must sign up to their credit monitoring service to get it. You are allowed one free copy of your credit report by a creditor who rejects you, otherwise it's $7.95 from most sites. Your credit report appears online, and shows who has checked your credit history too. You'll see many inquiries with no credit issued and this hurts your chances of qualifying. You must have all these unauthorized inquiries removed from your credit report, especially from car dealers who checked your credit while you were out on a test drive. See our review of Fresh Start below, that tells you how to do this. Usually credit bureaus want to know your address, previous address, SS#, employer, the usual, to get your credit report. Many errors can be quickly removed with a phone call to your creditor. You MUST have a copy of your credit report if you've never seen it before. Show up at a dealer before obtaining your credit report, and you are in big trouble. You might as well just give them your checkbook. A car dealer should never know more about your finances than you do, and besides, you might find an error in your report. This puts you at a disadvantage when the dealer calls 2 weeks after the sale to say "financing fell through, we need more cash" and they blame some black mark on your credit history.

The Proper Way To Consolidate Your Debt There's only one way to restore your tainted credit: Pay back what you owe. If you have credit card balances, transfer them to your lowest APR card. Pay off debt before you buy a new car, high balances hurt your chances of qualifying. Stop spending. Pay more to cards with high APR, send more than the minimum payment, or it will take 10 years to pay it off. If you have cash in the bank earning 2%, it's losing you more to income taxes, so be smart and use it to pay off 18% debt. If you have equity in your home, consider a home equity loan to pay off credit cards, close the accounts, and write off the interest on your taxes.

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