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Got a high interest loan? Paid on time for 12 months? Time to Refinance! |
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By asim on
6/26/2007 11:13 AM
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If you’re hunting for a new car and have a shaky credit history, a high interest Auto Loan might be your only option. Although you may be dismayed by the heavy interest charges, don’t fret, refinancing at a lower interest rate and payment is possible! What many people fail to realize is with 12 months of solid payment history, there is a good chance that the vehicle could be refinanced.
Loan refinancing is nothing new, individuals has been refinancing their mortgages to lower their interest rates and to consolidate debts for a long time. But it is in last few year or so that the option of refinancing an auto loan has been offered. Even though car loans are normally much smaller than mortgages, it can still be a smart choice to save money.
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Creative Financing |
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By asim on
6/25/2007 5:19 PM
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The most common ways to purchase a vehicle are:
• Pay Cash
• Finance through a traditional loan
• Lease
• Balloon-Payment Finance
Of the method’s list above, both Leasing and Balloon Payment Finance could be considered ‘creative’ finance methods. Banks and Leasing companies use residual value guides supplied by either ALG or Black Book. The prices listed in these guides are projected fu ...
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Bad Credit Car Loans |
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By asim on
6/21/2007 12:31 PM
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Car loans offer lenders a big ticket item with limited risk. While a lender’s risks their entire investment on an unsecured personal loan a car loan represents less risk since the lender can take possession of the car if the loan is defaulted. Divorce often leads to bankruptcy and will impact on a consumer’s credit score long after they have recovered financially
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