Getting Cheap Auto Finance
by Bruce Sheridan
When it comes time to buy your next car, you will have to start from square one and make sure you get everything in order first. Being well informed and well prepared will go a long way in helping you to get the best deals and cheap auto finance.
The first thing you should do is get a good handle on your financial situation. This means finding out where your credit score stands, since along with your monthly budget, it could dictate whether to choose new or used cars.
Many people often ask what credit score will get a loan for a car, and it is a pretty straightforward answer. Depending on your score, you will qualify for prime or subprime credit.
Prime is the top echelon of credit, and starts around 720. With this kind of impeccable score you will qualify for the most affordable and most favorable loan terms and conditions. Many times, prime credit people can qualify for things like zero down financing and sign and drive type deals.
Subprime is a bit different. You are seen as a bigger risk to lend to, so lenders make the terms and conditions stricter to make sure it is a smart investment on their part. Subprime is around 640 or less. Anything in between about 640 and 720 is decent credit, and your loan will be different from every lender.
Once you know these things, you can start shopping around. It's important to get several offers and compare to make sure you are getting a good deal, and you can start by applying right here on SmartCarFinder.com.
Applying here will get you several offers from local dealers within just 24 hours, and applying online is very fast and easy. It's a great place to start your search.
The first thing you should do is get a good handle on your financial situation. This means finding out where your credit score stands, since along with your monthly budget, it could dictate whether to choose new or used cars.
Many people often ask what credit score will get a loan for a car, and it is a pretty straightforward answer. Depending on your score, you will qualify for prime or subprime credit.
Prime is the top echelon of credit, and starts around 720. With this kind of impeccable score you will qualify for the most affordable and most favorable loan terms and conditions. Many times, prime credit people can qualify for things like zero down financing and sign and drive type deals.
Subprime is a bit different. You are seen as a bigger risk to lend to, so lenders make the terms and conditions stricter to make sure it is a smart investment on their part. Subprime is around 640 or less. Anything in between about 640 and 720 is decent credit, and your loan will be different from every lender.
Once you know these things, you can start shopping around. It's important to get several offers and compare to make sure you are getting a good deal, and you can start by applying right here on SmartCarFinder.com.
Applying here will get you several offers from local dealers within just 24 hours, and applying online is very fast and easy. It's a great place to start your search.
