Australia Finance

Jun 25 2017

Finding the Cheapest Auto Loan Rates #car #dealer

#auto loan refinance rates

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Whether you re looking for the cheapest auto loan rates or the best deal for auto refinancing, it s important to deal with more than a single company. Every company sets its rates differently and companies also differ considerably when it comes to credit scores and which scores earn the cheapest auto loan rates. Consider the following tips before you make a decision either on the best deal on refinancing or the cheapest auto loan rates.

  • Get a copy of your credit report. Everyone in the country is entitled to a free copy of their credit report once a year. Go to a site that offers free personal credit reports to check out your credit score. The credit score is a three-digit number between 350 and 850 and is maintained by three different credit bureaus.
  • Inspect your credit report. Look over your credit report carefully. According to experts, nearly two-thirds of all credit reports contain an error. Often, mistakes can cause points to be deducted from the credit score, so finding and pointing out mistakes to the credit bureaus can help your credit standing. If your score is 700 or higher in some cases 720 or higher you should get the best offers for financing and refinancing your car. If the score is below 650, or in some cases 620, your rates will be much higher.

Check Familiar Lenders for the Cheapest Auto Loan Rates

Search Other Lenders for the Cheapest Auto Loan Rates

If you ve been unsuccessful so far, then your credit score isn t sterling and that s the problem. However, that doesn t mean you can t refinance your loan or get a new auto loan. Many companies offer bad credit auto loans or refinancing opportunities to customers with bad credit. Of course, you re no longer looking for the cheapest auto loan rates. Bad credit loans come at significantly higher rates, if lending institutions will offer an auto loan or refinancing at all. However, if you are patient and search a variety of different companies advertising auto loans, you should be able to find someone who will offer a bad credit auto loan.

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