We insist on finding your best car loan
Why would anyone settle for less than the best car loan when the best car loan is so easy to find? Shopping for a loan isn’t fun and if you do it yourself it isn’t fast; but at Car Deal Expert, comparison loan-shopping is all we do and we do it very quickly.
All you have to do is fill out one short loan application, and we’ll get to work. It takes just a minute to search our entire network of online auto lenders, compare interest rates, payment terms and other loan features, find the best loan for your particular financing needs, and put you in direct contact with the lender. It really is that easy and it really is that fast. Once you’ve been preapproved for a loan, you’ll be prepared to get the best deal possible on the new or used car of your choice.
The best car loans for every situation
You’ll save yourself a lot of time and hassle when you apply for a loan at Car Deal Expert. No matter what kind of credit score you have, we can help you find the best vehicle loan available. In many instances, we’re even able to find loans for people who’ve had bankruptcies, been through home foreclosures or vehicle repossessions, or had their wages garnished.
After the past few years of economic downturn, nearly one in four Americans has a damaged credit history. As a result, the demand for high-risk credit has increased and more lenders now specialize in bad-credit loans. Not all bad-credit loans are created equal, however, and that’s where Car Deal Expert can help. If you have poor credit, chances are that you can qualify for an auto loan, but you’ll pay more for the loan than a person with better credit would, so it’s important to compare loans carefully and make sure you’re getting the best financing available.
Minimum requirements for the best auto loans
Different lenders have different minimum lending requirements, but all of them require that you be a US resident of legal age with a valid social security number. Most have minimum loan amounts and basic standards concerning the age and condition of used cars. Some auto lenders finance only new or used cars purchased from dealerships, although there are a few that will approve purchases from private parties, as well.
Most lenders have minimum down-payment or trade-in requirements, as well as guidelines concerning the percentage of your monthly income that can be applied to a car payment (18% is typical). If your credit score is very low or if the car will be one of your first purchases on credit, a lender may require a cosigner for your loan.
Other common requirements concern the length of residence at your current address, the length of employment at your current job, and your current monthly income. If you’ve had a bankruptcy or vehicle repossession, lenders will require that the bankruptcy case be closed and that a certain amount of time (generally 12 months) has passed since the repossession. Auto lenders also typically require that you have verifiable personal references, a valid driver’s license and a bank account in good standing.
First the best auto loan, then the best car
Whatever vehicle you have in mind – whether it’s a hot, new Aston Martin V-8 Vantage roadster, a certified pre-owned, low-mileage Toyota Prius hybrid sedan, an RV, or a yacht – having a loan-preapproval in hand before you walk into a dealership will strengthen your negotiating power. Being preapproved for an online auto loan makes it easy to analyze financing offers made by dealers. Generally, dealer financing is more expensive in the long run, but with an online preapproval, you’ll know for certain which way to go.
Being preapproved for an online loan has other benefits, as well. When you’re preapproved for an independent loan in a certain amount, it’s easier to get a concession from a dealer on vehicle price. Similarly, when you have your own financing, there’s less incentive for a dealer to push you to upgrade to a vehicle that you cannot as comfortably afford. Save valuable time and money by taking a just few minutes today to apply for the best possible online car loan. Then have a great time shopping for the best possible vehicle at the best possible price.