Auto Loans
A Buyer's Guide to Auto Loans: With Complete Payment Tables
Michael Sherman (Paperback) Contemporary Books 1986-04
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Answers
I am looking for a payday auto loan. I have a car but I am still paying car notes on it. I heard there are auto loan places out that that does loans and you don't need the title.
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Best Wishes,
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anyone know if there are banks that do not require 1500 monthly income for auto loans?
There are many auto loan options available today. Today, stiff competition among auto loan financing companies<!--has made it possible to get a car loan or an auto loan at favorable terms.
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However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car-->finance option. You can apply for online car loans on the Internet, or get it from your car dealer.
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I'm trying to discover the # of US home mortgages and auto loans financed by banks in the US and the average value of each type of loan. It's for a school project.
Go talk to an officer at your local bank. There are many tens of millions of each, but I don't have exact data.
Hi All,
Apologies for asking the answer for resolved questions. From the answers it is clear that personal auto loan is not tax deductible. I live in California and I own a home. My credit union says, If I pay $200, then they can make my auto loan as home lien, which will make my auto loan tax deductible.
Is it legitimate to do so, or is my credit union doing something fishy? I am kind of concerned after seeing the earlier answers.
That really sounds like they are offering you a Home Equity Line Of Credit (or HELOC). The interest on a HELOC is tax deductable since it's a lien on your home, however that can be very risky if you live in a declining market.
What concerns me is how the Credit Union presented it to you - $200 is probably closing cost on the HELOC, but if you don't FULLY understand the loan I would NOT go forward with it! California was hit pretty hard by the housing crisis and you might put yourself in danger taking out a HELOC, which does count as a second mortgage.
It might be a great program - don't get me wrong - but you want to make totally sure you fully understand the details and weigh all your options before you sign anything. The tax savings might not be worth it at all.
I'm wondering if it is possible to be approved for 2 auto loans in one month? I need a car for myself, because i am going to let my wife have the vehicle i am using. Another problem is, my son needs a car as well. Is it possible to get financed for 2 cars in one month, or is it impossible? Wouldn't it show up to the lendor that their is already a vehicle financed? Wouldn't it be a good idea to go to 2 different banks or lendors for the financing? It would not be viable to apply for 2 auto loans from one company would it? So basically my question is this. Is it possible to be approved for 2 auto loans from 2 different lendor's in one month? I'm confused on how it works and if it's not possible, what would be another viable option?
I hope this makes sense,
Any info is greatly apreciated.
Thank you.
My credit is not spotless by any means (i was young) But i do have a credit score in the 700's. I make about 100-120k a year. Paying for both loans for both cars really wouldn't be a problem. Also, does it help at all from the lendor's that i work for the Government? I would like to be able to get financed for both cars, so i don't have to make a down payment on either car. So i can just pay outright for both cars. I don't want to do anything sketchy or illegal, that's not me. How if it's possible, would i go about getting both auto loans? Would i need to tell both lendor's that i have another loan from another bank for it to be legal? I'm just not sure of how to go about it.
Again any info is greatly apreciated.
Thank you
Yes, it IS possible, but why would you want to do something like that, when you COULD do something much better for your specific situation. If your son is 18, then FIRST go with him to pick out a car, and co-sign his loan so that it will be building his credit and will get approved because you are on the loan. It may be a little higher rate for him, but you will be doing the best thing you can for his credit... building it. THEN go out and get the second one on your own. I mean you could do it the way you were explaining before but you'll need credit in the 700's on the fico score and a huge downpayment on the second car. Aside from that, why let your son have a new car? Take out a loan for about 4000 after you get your car and have him go through the newspaper and get a used car that you won't worry about as much... after all it is his first car, it's GOING to get a few dings. Try for a corolla as it has great saftey ratings, good on gas, and is less expensive than others that will lower his insurance costs. It is one of three vehicles that will cost the least for a male under 25.
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Smart Shopper's Guide to Coverage Options for Auto Insurance ...
Each state has its own minimum insurance requirements. This means you must at least have as much insurance as the state’s required amount. $20,000 worth of coverage is typically the number most states use. But $20,000 may not be enough to keep your savings and home safe. Accidents can be expensive and sometimes law suits are involved so you want to make sure everything you own is fully protected.
Many people with significant assets i.e. a house, savings account, stocks etc. choose liability coverage of $100,000 per accident. Insurance advisers recommend homeowners should maintain at least $100,000 worth of coverage. You also need to insure your vehicle which means you will need physical damage coverage. This will help you repair or replace your car if it’s damaged or stolen.
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