Sunday Auto Market

Uchenna Ani-Okoye asked:


When it comes to a used car loan, there are quite a number of concerns. You may asked yourself, 'How can I sell my used car to a private party if I don't have title?' or 'How do you finance a car from a private person?' as well as many other questions.

Many people ask how they could have a used car financed. When applying online, it will only take minutes. After you receive an emailed check from the online loan company, you can choose to buy a used car from a private owner with very little hassle.

Some companies offer used car loans for buying from car dealers as well. You can apply online and you can get approved in an hour.

Here are some useful tips when surfing the net for a used car loan:

1. To qualify for a used car loan, make sure to keep your credit score to at least 680. People with bad credit pay higher car loan interest rates. A used car loan wouldn't be any different.

Get hold of your credit report online. Never apply for a car loan, much less for a used car loan, unless you get your credit report with credit score first. Depending on other factors, a high quality lender like some finance companies or banks do, can approve used car loans for people with scores as low as 540.

2. Never pay cash for a deposit on a car - even if it's a used car loan you're relying on to pay for it or finance it. You can dispute purchases made with your credit cards. But without proof of the transaction, you can be taken advantaged of by swindlers.

3. Shop for auto insurance costs for your used car along with your used car loan. Before you shop armed with a used car loan, get auto insurance quotes to find out how much it will cost to insure it. Auto insurance sites give free online car insurance quotes.

4. Get an extended warranty for your used car. Unless you have an extended warranty, you are exposed to potentially large losses, which would be huge drawbacks on your used car loan.

Before deciding on a used car loan, better ask yourself these questions:

What are the drawbacks of a used car?

What are the benefits of a used car?

Think twice: A used car could have a listed maintenance and repair history.

Used car warranties often are available at extra cost.

The maintenance costs get higher as the miles on the vehicle climb toward 100,000.

There are not as many safety and convenience features as newer vehicles have.

A used car, however, will be significantly cheaper to buy than going with a new model. It has comprehensive and theft insurance and costs are likely to be less.

After weighing the pros and cons, you can decide if a used car loan is for you.



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techen asked:


After buying a used car, could I drive it right away without auto insurance? Do I have to have auto insurance in CA? Thank you!

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Double You asked:



For quality car am also looking for quality car am also looking for quality car dealerships in or near tallahassee because am also looking for.


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Todd M asked:


I just bought a newer used car from 2005 at the toyota dealer and I got the loan through them. I bought the car for $12,800 total with taxes and I put $2,000 dollars down when I bought it. So now I owe about $11,000 on it. I would like to sell it to a friend for $12,000 and make back about a $1,000 on it. This way I'll only end up loosing the $800. He doesn't have enough money so he would have to take out a loan from somewhere himself, but I think he has good credit.

Anyway, the problem is that I don't have the title since the car isn't paid off yet and I owe the dealer money, not a bank, since the loan was taken out through them. What are the steps I have to take to sell this car to my friend who is also short on cash himself, but still has good credit?

Also, how hard would it be to sell this car to a stranger if my friend decides to back out of it since I don't have the title?
What about selling it to CarMAX? I heard that they take care of all the financial mumbojumbo for you.

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Lost&Found asked:


Besides sales tax what are the other taxes / fees while buying a used car in California?

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xxjames89xx asked:


Im trying to help somebody with buying an used car....And used cars usually need some type of repair.
What are important things i should look into before buying the car?

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bubblehead_hw asked:


Need some help...i have beenlooking at used cars because i am looking into buying a second car that wont be used more than normal and i dont know if at what point of miles should i stop considering to buy a car?

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Williams Orchard asked:


Mainly young people and limited wage earner face difficulty in buying a new car for the reason sky rocketing prices of new cars. So they do not want to use their whole savings to buy just one high prized car. At such circumstances used car loan is best option for purchasing a used car. Because now-a-days used cars are as attractive as the new ones and so you can get used car loans at very competitive rates as the cars seized from defaulters are as good as new. There are many such used cars to be found that are just a year or two old. These cars possess more or less the same features as a new car. The various types of used car loan which can be found in the market are mentioned below.

Generally there are two types of used car loans one is secured and another is unsecured. In a secured used car loans you can get competitive interest rates. And any type of asset or bank paper containing certain value can be used as collateral for the used vehicle loan amounts. You can use the vehicle itself as collateral for a used vehicle financing. In secured car finance you can borrow up to the amount of equity in collateral.

Another is an unsecured used vehicle loan which is generally targeted for all those who are not willing to place collateral. An unsecured used vehicle loans carry's no risk to assets since assets are not involved. The factors like your credit score, credit history, financial situation, employment proofs and income proof are taken into consideration when determining the interest rate of a unsecured used vehicle loan. Many lenders offer low interest rate used car loans. Regardless of your credit history, you can get approved for a low interest auto loan as the financing based on your qualifications. As the online lenders have thousands of lenders in their network, so that gives you an opportunity to compare lenders deals which will helps you to find the best rates. Thus you can also select terms that give you the most favorable loan financing.

It's a well known fact, that person with a good credit score is always offered with a great offer and competitive rates. But now a days lender also offer bad credit auto loans with the best rates on used car to individuals with poor credit. Unlike dealerships that offer excessive rates, the online lenders have a reputation for approving loans with fair rates. The objective is not to make profit out off someone's misfortune, rather to help people to buy their dream car. Pre-approved used car loan is one of the best options to get you the best deal on a used car loan by getting your finance deal done before you buy a car. Pre-approved loans gives you the most options on deciding how much you want to borrow and what rates to accept. Thus it gives you an edge when buying a car.

Another concept which is more popular among the auto loans field is refinancing. People end up getting high interest rate when they have bad credit but when their credit gets improved, they still end up paying high rates. At times refinancing used car loans can get car credit at low rate. Refinancing used car loans can immediately put an end to your monetary troubles that come with high interest car loans. Through used car loan refinancing you would able to obtain a new loan, including a lower rate of interest, in place of your current high interest rate loan.

Used car loans are very easy to get online by comparing various car loan quotes. Comparing online car loans facilitate in obtaining the best auto loan in the market. So, don't wait and go get yourself a used vehicle loan to get you the car of your dreams.



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joyceeleann asked:


Here is the situation:

I have a 1998 Ford Taurus-AIr and Heat broke-No warranty left on it-dearlship wants 1,500 to fix it-I owe $3,000 left because I bought used over a year ago.

I live in 100 degree weather during summer so I need the A/C.

I am buying a brand new car in January 2008 from a settlement coming this lat fall.

What I want to do is trade one mor time my taurus for another used car to get me to the end of the year. Can I trade in the taurus with a $2,500 remaining balance for another used car around $5,000 so I have heat and A/C thru the remainder of the year.

What do I need to know to make this happened about trade in's and dearlships?

I know I will be upside down on the loan and it be placed on the other car. How much cash should I offer at trade in? And will they even take it with the ac/heat broken knowing its a crappy car?

Any tricks of the trade or info in what I can do in this situation will be most helpful.

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