Whether you're looking to find a used car loan or buy or lease a new vehicle, Carsquare.com will help you find a financing option that works for you. We'll help you:
- Find financing that fits within your budget
- Get pre-qualified
- Skip the headaches at the dealership and make the car buying process enjoyable
How Financing Offers Work
Creditors consider all of the following when making a decision about financing offers:
- Your Personal Information and Credit History: The finance company will look at your employment situation, residence, and income information, as well as your credit score and history.
- The Vehicle Selected: The age, mileage, and cost of the new (or used) vehicle.
- Your Down Payment Amount: This includes any cash you put down/and or the trade value of your old vehicle.
The Financing Approval Process
To ensure that you get approved for financing, it's wise to choose a vehicle that fits within your budget, and providing the maximum down payment that you can afford will increase your chances of getting approved.
Financial institutions generally recommend that you spend no more than 15% of your gross monthly income on a car payment. This means that a person with gross earnings of $2,000 per month should aim for a car payment of no more than $300 per month. Keep in mind that insurance costs can vary greatly depending on the car you choose. Insurance, fuel, and maintenance costs are additional expenses to consider when selecting a vehicle.
Your monthly payment is affected by the amount you finance, the term of your contract, and the annual percentage rate (APR). Carsquare.com will help you find the best financing option, based on all of the factors listed above.
Understanding Your Credit History
Your credit scores and history are available from the three major reporting agencies—Experian, Equifax, and TransUnion. Generally, the higher your credit scores are, the better financing offers you'll receive. Contact these reporting agencies online or by phone:
- Experian: www.experian.com
Toll-free number: 888-397-3742
- Equifax: www.equifax.com
Toll-free number: 800-685-1111
- TransUnion: www.transunion.com
Toll-free number: 877-322-8228
Whether you're looking to finance new or used vehicles or considering leasing a car, truck, or SUV, Carsquare.com will save you time and makes it easier to search all of the top car sites in one place to help you find the best vehicle.