Monday 23 November 2009

Can I Get a Car Loan With a Credit Score of 500?

If you have a credit score of only 500, then chances are that you have some significant blemishes on your credit report. These typically include past due payments, bankruptcy, repossessions, or a host of other ailments that can significantly bring down your credit score.

If you are looking to get a car loan with a credit score of 500, then your options are limited. There are however online lending sources that can give you a car loan with minimal hassles and the best part is, this can be done without the need for a down payment if you do your shopping right.

Many people are not aware that car dealerships are not the end all authority when it comes to car loans. Car dealerships are in the business of selling cars and car finance helps them to do that by outsourcing their lending to loan companies.

All a car dealership can do is submit your information and credit application to a lender along with the information about the car that you are wanting to buy. Contrary to popular belief, a car dealership has absolutely no power when it comes to getting you approved with a lender.

Car lots act more as a middleman for car loans, than anything else. As they are responsible for submitting applications to the lenders, car lots actually make a commission based upon the interest rate that you pay. The higher the interest rate you pay, the more money that the dealership makes.

You can save money and get an easier approval with an online lending source.

Find Legitimate Lending Sources Here: BuyingCarswithBadCredit.com.

(http://www.BuyingCarswithBadCredit.com)

Jason Lanier, Expert Author.

Article Source: http://EzineArticles.com/?expert=Jason_Lanier

Sunday 22 November 2009

Car Insurance Under 21 - 5 Tips on Getting it Cheap

Being young is NOT the greatest of things when it comes to car insurance! Did you know that drivers under the age of 21 account for only 7% of drivers in the country but pay about 32% of premiums? Sad, but true! The fact is, there are a number of ways in which you can cut down on your premiums when you are going for car insurance under 21. Want to know how? We'll tell you....

Why is car insurance under 21 an expensive proposition?

Well, simply put, young drivers are more of a risk to the insurance provider. According to a recently conducted research, drivers under 21 are 10 times more likely to be involved in car crashes compared to drivers belonging to other age groups! Not very encouraging, is it?

In order to compensate for such risks, car insurance under 21 often entails high premiums.

Okay, I Got That. But How Do I Lower My Premiums?

There are a number of ways in which you can ensure that you pay the lowest of premiums possible when you are buying car insurance under 21 years of age.

Choose with care-every car you buy comes under a particular insurance band. This determines the value and risk the insurance provider assigns on your vehicle. When you a buy a car in a lower band, you automatically pay a lower premium on it.

Improve the security- your car's security plays a big role in the amount of premium you have to pay. When you increase the security of your car, you lower the premiums you pay on it. For instance, immobilizers, alarms, glass etching and an easily identifiable vehicle identification number goes a long way towards increasing the security of your car and lowering the premiums you pay.

Go with the specifications-When you are looking for car insurance under 21 years of age, keep the specifications of your car in mind. For instance, alloy wheels and low hydraulics may look attractive on your car, but is it really worth it if you have to pay higher premiums for them?

Keep your usage in mind- many policies are particular about you usage. For instance, are you going to use the car for social or domestic purposes? Keep these in mind when you're going for a policy. If you are going to use the car to impress that beauty at high school only, you don't really need a comprehensive package. However, if you are going to use your car frequently, take a look at all the packages offered by the companies. Don't pay for something you don't really need!

Shop around-you should always take a look at the different policies on offer before you decide on one.

Car insurance under 21 is often expensive. However, you have a way around it. Shop around with our tips in mind-you will get the best option for yourself!

It's not hard to get car insurance under 21, right? If you are still facing problems or wish to understand more, simply visit http://www.evro-broker.com. Comparing quotes is the only way to find the best deal on auto insurance!

Article Source: http://EzineArticles.com/?expert=Robert_Linley


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