Auto Loan Q & A
- What is the difference between Bank Loans and Online Lenders?
Both are good destinations to take out an auto loan. Bank loans may take longer then an online lender and banks are not open on the weekends.
- Is the Dealership Really That Bad?
If you are trying to get a good deal on an auto loan, yes. It is much more beneficial to you to get a loan from an online lender or bank.
- How Will My Credit Score Affect My Loan?
The lower your credit score the higher your interest rate is going to be.
- How Can I Check My Credit Score?
You can go to www.annualcreditreport.com and look up your credit score free of charge.
- Do I Still Have to Make Payments After I Sell My Car?
If you sell the car you still owe the balance on the loan, because that is still money you have borrowed.
- How Old Do I have to be to get an Auto Loan?
You need to be over 18, but approval is going to depend a lot on your credit history. If you are 18 you may not have a lot and may need a cosigner.
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