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Used Car Loan Tips
How can I sell my used car to a private party if I don't have title?
If your bank or other lien holder has the title, ask them how to transfer the title to the person who buys your car. Typically the lien holder sends the title to you
or to the buyer 2 weeks after the lien has been satisfied. You can also pay off your car loan, and get the title to make the process go smoother.
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Used Car Loan Tip Of The Month
How to finance a used car from a private person.
A lot of people ask me how to finance a used car when you buy it from a private person. Use the
Capital One Auto Finance
person-to-person loan
for used cars. Apply online, approval takes minutes, they mail you a Blank Check® so you can buy any used car from a private party without paperwork hassles. If you
got railroaded into a high APR car loan from a dealer, you can refinance after 3 months with
Capital One Auto Finance. Lower your current car payments with their
Auto Refinancing Loans. A few of my
friends have used. They have a low APR, it's fast, easy and awesome.
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Used car loans and used car financing
If you are buying a car from a private person, use the Capital One Auto Finance person-to-person loan
or E-LOAN. Capital One Auto Finance and
E-LOAN also provide used car loans for buying from a car dealer as well. Apply online and get approved in an
hour. They FedEx you a check so you can buy any used car without paperwork hassles. I helped my friend Jerry buy his used Lexus RX300 and had him apply at
Capital One Auto Finance. They approved him and he got his check the next day by FedEx.
Which site should you use? First make sure your credit score is at least 680, then as a prime borrower, you can choose by who has
the lowest APR. People with bad credit pay higher auto loan interest rates. Get your credit report instantly online, it's a must for
The Folder. DO NOT apply for a car loan until you get your credit report WITH credit score.
Get it online at  Equifax,
Experian or
TrueCredit.
Best New Car Loan, Used Car Loan Sites
Where to check online auto loan rates |
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Capital One Auto Finance
can give you lower APR with hassle-free auto financing, approval in minutes. Bring your auto loan check to the dealer.
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E-Loan's Apply Today, Drive Off Today can give you approval
in 30 minutes. Online auto loan rates usually well below car dealer rates. New car financing at its finest.
How It Works:
1)Apply Online. Immediate approval and auto loan documents Online. Print your online E-Fund Agreement and
instructions for you and the dealer.
2) At your dealer, fill in the E-Fund Agreement, read and sign it, and you're done. The dealer and
E-LOAN will handle the rest. Easy auto financing. |
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If you have bad credit,
submit one FREE application to a bad credit auto loan site like
AutoCreditFinders, that specializes in finding
bad credit car loans
for people with low credit scores. If your score is <540 don't apply for a car loan until you learn how to
repair your own credit at our other site
DebtWizards.com.
Never pay cash for a deposit on a car.
If the deal goes south, you'll never get your cash back, but you can always dispute a credit transaction. You may need a new, clean credit card to handle deposits,
and purchases, don't pay cash. If you have good credit, try either the
Discover Platinum Card or the
Discover Gold Card, both have no annual fee, 100% fraud protection
and 0% APR for 12 months on balance transfers. If your credit is ok, but not perfect, try the useful
Lending
Tree Credit Card Search. Their free service gives you up to 4 credit cards willing to issue you credit. Definitely worth checking out. What if you can't get
credit at all and keep getting rejected? Then try this
Credit Card Finder For People With Bad Credit. Don't keep applying to
credit cards, get rejected, and your credit history ruined further, find out who will approve you before you apply. They find at least 2 credit cards guaranteed to
issue an unsecured credit card to you. If your credit is so bad and If you're in too deep, maybe now is not the time to buy a car. But don't take on more debt with
a consolidation loan, try a debt reduction program instead like
American Consumer Credit Counseling or
iDebtAssistance. You get an interest rate reduction payment, which pays
off your balances much quicker than you ever could on your own.
Shop Auto Insurance Costs for Your Used Car
Before you shop for a used car, get auto insurance quotes to find out how much it will cost to insure it. Auto insurance sites
Comparison Market and
Progressive Auto Insurance give free online car insurance
quotes.
Get An Extended Warranty for your used Car
Get an extended warranty for your used car. The best car warranty site we have researched so far is
Warranty Direct. Read our chapter on
Extended Warranty Scams & Tips, or you'll be out several hundred dollars. If you buy a 3 or 4
year old used car, that's when the manufacturer's warranty expires and all hell breaks loose. Unless you have an extended warranty, you are exposed to potentially
large losses.
World Trade Center Damaged Cars
Thousands of cars were damaged in on 9/11/2001 These cars will be salvaged, rebuilt, sold at car auctions and have their titles rebuilt, most likely out of state.
Even if you live in another state, run a CARFAX Vehicle History Report
on every used car before you buy. Other major vehicle disasters:
- Hurricanes Katrina, Rita and Wilma in 2005
- 4 Hurricanes, Charley, Frances, Ivan and Jeanne battered the Southeast in 2004
- Tropical Storm Allison Flooded 20,000 Houston homes and cars in 2001.
- In 1999 Hurricane Floyd flooded or totaled 15,000 cars in the Carolinas.
- In 1999 Hurricane Irene flooded hundreds of cars in South Florida.
Know your credit score. Get your online credit report.
Read our Auto Finance Help Section for tips on getting your credit report, credit score, and
repairing bad marks in your credit report. You can get your credit report online from
Equifax,
Consumerinfo
or 
TrueCredit.
Be sure to do that first, most people don't know what's on their credit report, or have never seen it, yet the car dealers and banks have! Looking for a
bad credit auto loan? If your
Credit Score is < 680 and you're rejected, don't submit apps all over that keep getting you rejected.
Submit one FREE application to a bad credit auto loan
site like AutoCreditFinders, that specializes in finding
bad credit car loans
for people with low credit scores. Then send in extra principle payments to buy down your APR and pay off your car loan faster. Depending on other factors, a high
quality lender like Capital One Auto Finance
can approve loans for people with scores as low as 540.
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verygoodppc.com FACT:
Most banks will NOT lend you money for a used car that is older than 4 or 5 years old. Banks charge at least 2% higher APR on used
car loans, than they do for new car loans. But online lenders are much cheaper, and used car loan rates are closer to new car loan rates. |
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