If you think about it, the most grueling part of the car-buying process, after agreeing on a price, is acquiring the right kind of loan for your new or used car. Most consumers enter the car dealership completely unprepared for the loan application process, and that lack of knowledge and planning is costing them millions of dollars every year.
If you want to create a win-win situation for you and the car dealership you purchase your car from, there are five steps to take before you sit down at the negotiation table: get your credit report, surf before buying, go local, speak the language and be prepared to negotiate.
1.) Get Your Credit Report
You can’t pick up a personal finance article, magazine or book that does not refer to the importance of knowing what is on your credit report. Despite the fact that modern media has been beating us over the head with this advice for the past couple of decades, most people do not know their credit score or check their credit report on a regular basis. You can get a copy of your report by directly contacting the three credit bureaus: Equifax, TransUnion and Experian (formerly TRW).
Not knowing your credit score and the details of your credit report before applying for a car loan is a monumental mistake. You want to have any blemishes on your report resolved before you apply for a car loan, because the results of your lender’s credit inquiry directly impact your interest rate.
Your credit report includes: basic information about you – name, address, social security number, etc.; your late payments, any outstanding debts you have, the amount of credit available to you; any public records on you such as judgments and bankruptcies; and inquiries into your credit from potential employers or lenders.
And just because you have caught up late payments, cleared outstanding debts or cleared up any judgments does not mean these blemishes are automatically removed from your credit report. Sometimes, you need to follow up with the creditors to make sure they report your reconciliation of debt to all three credit bureaus.
In addition, identity theft and/or fraud can result in false, unfavorable records on your credit report. In January 2006, the Federal Trade Commission reported that more than 686,000 people reported identity theft and fraud complaints in 2005. Stolen identity and fraud can result in major credit report issues.
2.) Surf Before Buying
You’ll be far less tempted to impulse buy, driving away from the car dealership with a car you can’t afford if you have established boundaries in your mind before you begin.
You can save big money on your car loan if you have a budget and type of car in mind before you go shopping. One easy way to accomplish this is to go online and check out different car dealership websites.
You can compare and contrast vehicle makes, models, styles, features and pricing.
3.) Go Local
There are many national auto websites, but did you know that many local car dealerships are now online as well? The advantage of working with a local car dealership can outweigh working with the manufacturer or a national website when you want the best in quality customer service, a relationship for the lifetime of your car and the best deal on your auto loan.
The advantages of getting a loan through a local dealership is similar to the reason every town in America has a locally-owned restaurant that has regulars: local businesses have a sincere investment in the community. That interest often leads to better customer service, a more customized approach to selling, and the ability to get you a better loan than you will receive from a lender who doesn’t know – or care – who you are.
Lastly, the local dealership may have more than one location, increasing your options for finding the car you need but offering the same uniform auto financing options. For example, Conklin Cars Salina, a car dealer in Kansas, is also a Hutchinson car dealer and a Newton car dealer. So, if a customer goes to one dealership and does not find what they need, they can visit another location and expect the same quality customer service.
Yes, there are many who like to read articles about ‘Free debt consolidation in Kansas’. Our ‘keeping up with Jones’ mentality ensures that one is under debt always. Moreover, sometimes the situation is so dire that professional help is needed. This debt malady does not only strike in under-developed or developing nations, but flashy lifestyles and extravagant spending had lead to serious debt situations in wealthy nations like the U.S. as well. Thus arises the need for ideas like debt consolidation help. Let us go on now to the point of free online debt consolidation quote.
Steps Of The Online Process:
You fill out an online application form.
Then you wait for offers from various money lenders.
Though some might ask for a fee, many firms offer a free online quote for consolidation of debt.
If you are satisfied with a specific quote, you can set up a meeting with the company representative.
Work out all details and then you can decide whether or not to strike a deal with them.
Once decided, do stick to paying the single monthly payment.
Free Christian Debt Consolidation
Christian debt help companies say that they help people pay back what they have borrowed, with methods as suggested in the Bible. Christian debt consolidation companies are beneficial for Christians who feel uncomfortable going to non-Christian organizations. The free Christian debt companies operate just like other consolidation ones and do not have any restrictions on the religious beliefs of the borrowers. Hence, there is no need to choose them over others if you are not religiously inclined.
Many debt counselors would advise you against free debt consolidation companies. They feel that in the end, such companies make use of multiple hidden charges and ultimately you end up paying more. However, it is not necessary that all companies offering free debt help and consolidation are unreliable. It is better to stick with a reputed company that has clearly listed fees or charges so that you can add all the costs up and arrive at your total.
One of the biggest criticisms of a Reverse Mortgage in Kansas City Missouri is the perception that the costs are high. While they are higher than traditional mortgages they also provide features that traditional mortgages don’t. We’ll leave that argument for another today.
The costs involved in a Reverse Mortgage in Kansas City Missouri include traditional mortgage costs like appraisal, title, closing fees, and recording fees. These fees are largely fixed and very difficult to achieve much in savings.
One area that gets a lot of negative press is the origination fees. These are common in many areas on traditional loans not so much in the Kansas City Missouri market. Many times they are referred to as points (a point is 1% of the loan amount) and they are capped on FHA Reverse Mortgages at 2%. Basically, you can pre-pay a chunk of your interest (points) and get a lower rate or don’t pay them upfront and get a higher rate.
This fee can be negotiated but will likely be set off by having a higher margin. For instance, a loan with a 1.25% margin may not pay any yield spread premium where a loan with a 1.75% margin may pay 1.5% in yield spread premium.
You could possibly get your origination fees lowered by 1.5% if you agreed to take a .5% higher margin, but you would be paying .5% more every year on your loan. On a $100,000 that is $500 per year. So pre-paying 2% on a $200,000 appraised value ($4,000) is only 8 years at $500 per year.
There is also a 2% Mortgage Insurance Premium that is not negotiable either. It is a fee paid to FHA to guarantee that you won’t be kicked out of your house and that you will never owe more than the house is worth. (A pretty reasonable amount considering what it gives you.)
Another way to cut your costs is to negotiate the lower monthly service fee. They can be $35, $30 or $25. The $25 dollar one saves you $120 per year and the higher monthly service fee allows the lender to make more money in yield spread.
Kansas possibly offers the most affordable real estate in the U.S. – homes that are built strong and located in communities built for the sturdy. In fact, residents have long been of good stock, able to defend themselves, their homes, and their jobs. Early in the history of Lincoln County, an armed man was shot dead by the cashier of the Sylvan State Bank after attempting a robbery. His two accomplices escaped by horseback, never to be seen again.
Kansas is filled with tales like this and dozens of sites of interest. President Lincoln’s assassin John Wilkes Booth hid out in a hole in Concordia, there’s a space-themed indoor swimming pool in Hutchinson, and you can see a concrete tepee in Lawrence.
Like the tepee, homes in Kansas are built to last. Many feature wood trim, hardwood floors, and are incredibly affordable. For example, one house with almost 2000 square feet, three bedrooms, two baths and a bonus room sits on a large lot with shade trees. It’s priced at an incredible $68,000
In Dodge City, you can find a $200,000 piece of real estate with almost 4,000 square feet, three bedrooms, 3 1/2 baths, and a plush yard that features a wooden bridge over a gorgeous water feature.
If your taste runs toward land big enough to house a horse ranch with six concreted stalls, along with a tac room, pond, greenhouse, and safe room is available in Benton, Kansas. This gorgeous piece of real estate sits on 40 acres of manicured lawn and some wooded acreage, and is available for just over a half million dollars.
If you’d prefer to participate in a sport less tame than horsemanship, the sunflower state is wide open for outdoorsmen. Sylvan Grove is an area that’s renowned for great hunting and fishing because a 9,000 acre lake is located on the Wilson River. With 100 miles of shoreline, the lake is just 10-minutes from town. The area is also famous for its magnificent sandstone, used by early settlers to build fences and even a nearby well-known double-arched bridge that evokes a sense of longing for bygone days.
The best part of Kansas is you don’t have to long for the simple life anymore. If you come for a visit, you may fall in love with this affordable, natural state and choose to live here.
After a bankruptcy, getting a good rate on your Kansas mortgage refinance is very important. Unfortunately, it can also be very difficult, especially if you haven’t been able to rebuild your credit. Here are three tips that will help you get a good rate on your mortgage refinance after bankruptcy:
Search the Web
The Internet can be a very valuable resource when searching for a Kansas mortgage refinance after bankruptcy. You can check average interest rates for refinance loans–currently 5.66 percent, get information on different refinance packages, and even get free no obligation quotes. If you are even thinking about refinancing after bankruptcy, the first place you want to go is the web.
Having a bankruptcy on your record almost guarantees that you will pay a rate that is a percentage point or two higher than the average rate on Kansas mortgage refinances. If you have extra pocket money, you can pay points to buy down the interest rate on your loan. One discount point is equal to one percent of the loan amount and must be paid upfront at closing.
Talk to a Broker
Some borrowers find that they have a hard time getting lenders to offer them fair rates on Kansas mortgage refinances after bankruptcy. If you find yourself in this position, consider talking to a mortgage broker. Mortgage brokers work with a variety of different lenders and may be able to get you a rate that is better than anything you could ever get on your own. However, you will want to be very careful when choosing your broker. The state of Kansas does not currently have any regulations in regards to the broker industry.
Home loans applications have remained steady as the Kansas real estate market continues to grow. While the rest of the country saw a boom in housing prices, home values remained flat since 2001 as the state economy dealt with layoffs in the aerospace industry. But since 2005 companies like Boeing, Onex, and Spirit Aviation have been hiring and heating up the local real estate market. While Kansas may not be looking at a burst in the housing market, it’s still important to be choosy with your mortgage loan. Watch out for these signs of a less than honest mortgage lender.
1. Boastful Claims About Mortgage Rates
Mortgage companies may boast that they have the lowest rates on mortgage
loans, but quoted numbers may tell a different story. When comparing offers
from different lenders, ask about the APR, which also includes loan fees. Also, take the time to look at a number of different mortgage lenders. It is only by comparing the numbers of a multitude of loan offers can you truly determine who has the best offer for you.
2. Pressure To Sign Your Mortgage Contract Now
Mortgage rates can change on an hourly basis, but you shouldn’t let a lender pressure you to sign a loan contract that you aren’t sure of. Take the time to look at different mortgage companies and their offers. And remember even after you have signed a home loan contract, under Federal law you still have three days to back out of the deal.
3. Realtors And Lenders Working Together
Beware of real estate agents pressuring you to work with a particular lender. Often lenders give realtors incentives for each referral they receive. Instead of relying on these suggested mortgage lenders, research a number of mortgage lenders and compare their quoted rates and fees.
If you think that your economic situation is beyond repair then you have not yet sought free debt consolidation in Kansas. Even those on the verge of bankruptcy can again get hope and assurance of discharging their dues with ease.
Loan Consolidation The Online Way
Getting a free debt consolidation in Kansas is made easier by the web. Anytime, anywhere all you need to do is click online and the services will be at your disposal. You can ask for a free online debt consolidation quote to know the interest rates of various lenders. Everyone out there offers these quotes for free and if someone is asking for a fee for even a quote then you know that you have to keep away. Due to increased competition many companies reduce their rates to get customers. So you will surely find a favorable deal.
Online approval of debt consolidation is a fast and easy method. A lot of time, money and paper work are saved in the whole process. Some companies even profess to sanction loans more quickly than the rest. But the web is also a place of deceit. So you must take every step with caution. You should know everything about the debt consolidation company, you are dealing with. If they have offices in your area then that it is good. You can get personal attention and you can discuss your financial problems without any inhibitions with them in person.
Loan Consolidation: The Options
There is a loan for everyone. The most urgent need for a free debt consolidation in Kansas is to those who are reeling under the debt of multiple credit cards. With every late payment they face extra fee, then higher interest, charges and taxes make the outstanding amount grow out of proportions and if they skip making even a single payment then penalties are even higher. If they somehow manage to satisfy the minimum amount due then too that does not solve the problem because their payment covers the interest and not the principal amount. Under credit card debt consolidation, your lower interest loan payment is sufficient for all your cards and if you do not use your cards further then you can actually repay all the amount soon enough.
For house owners, there are options of home equity loans and second mortgage. They can use the worth of their homes to get loans. Because they will be forwarding their house as collateral so they can even hope to get lower rates of interest.
Then there is even one that is solely for Christians – free Christian debt consolidation. The reason for this particular one is that Christians are not comfortable with the idea of debt and it is not proper for them to put burden on their family finances. To meet their special needs they are advised a loan program that is consistent with Christian beliefs. And spiritual counseling is also arranged so that they do not fall in debt trap again.
A national housing bubble has caused home values to drop in many areas of the country. Fortunately, this hasn’t been much of a problem for Kansas homeowners. Home values in this state have held steady for the most part. Cities like Topeka, Wichita, and Kansas City have even seen increases. If you are thinking about taking out a Kansas home equity loan, now may be the best time to do it. However, there are a few things you will want to watch out for.
Gambling with Your Home
Kansas home equity loans can be an excellent source of financing when you need money for home improvements, education costs, or other expenditures. At the same time, borrowing from your equity can also be a little dangerous. Home equity loans are secured debt. If you find yourself in trouble financially and miss a few payments, you could lose your home.
Borrowing Too Much
When getting a Kansas home equity loan, it can be very difficult to determine how much you should borrow. If you borrow too much, you run the risk of burning through all of your equity. You may also find that making the monthly loan payment can be difficult. On the other hand, if you borrow too little, you’re stuck, because you won’t be able to get more money out of the loan without refinancing.
Nowadays, it is very common for lenders to require that a borrower carry private mortgage insurance (PMI). This is especially true if you have less than 20 percent equity built up in your home. PMI premiums can add anywhere from $20 to $150 to your mortgage payment each month. The only way that you can avoid paying PMI is too make sure that your loans- both your current mortgage and your home equity loan- don’t add up to more than 80 percent of the value of your home.
Like interest rates everywhere, the mortgage interest rates in Kansas are constantly on the move. If you have a Kansas mortgage loan and you are thinking about refinancing, learning everything you can about Kansas refinance rates will be to your benefit.
Approximately half of the new mortgage loans in Kansas are adjustable rate mortgages (ARMs). This financing option is very popular because it allows borrowers to take advantage of low introductory rates, and in turn, lower monthly mortgage payments. When average interest rates drop, the rates on your mortgage follow suit. The bad part about ARMs is that average rates are constantly fluctuating. While payments may be low in the beginning, they can easily rise out of control within a few years. Current 5/1 ARM rates in Kansas average 5.67 percent.
If an adjustable rate mortgage sounds too risky to you, you also have the option of refinancing to a more dependable fixed rate mortgage. Fixed rates are normally a little higher than adjustable rates, but they are beneficial because the rate remains steady through the life of your loan. Regardless of what average rates are doing, your mortgage rate will never change and neither will your monthly payments. Current fixed rates on 30 year Kansas mortgage loans average 5.94 percent.
Getting a Good Refinance Rate
One of the main reasons to take out a Kansas refinance loan is to get a low interest rate. If you want to get the best deal and the best rates on your refinance, you will need to do some comparison shopping. Try to get quotes from several different lenders before making any refinance decisions. Whenever possible, compare ARM rates with other ARM rates and fixed rates with other fixed rates.
Free debt consolidation in Kansas is meant to save the time and money of the residents of the agricultural state of Kansas. Individuals often have to resort to credit cards and other loans, to meet both the ends between their earnings and expenditures. Looking like an instant relief in the hour of need, these loans soon become the biggest reason for all our problems. This is when the Kansans resort to consolidation of loans. As it is a ‘free service,’ it excludes any kind of lending fee and has an overall low cost on all its services. It is a hassle-free procedure, as it does not involve lengthy documentation.
Types Of Consolidation Loans
The debt consolidation loan can be mainly of two types. You can either go for a home equity loan or a simple consolidated loan. Home equity loan, is understandably, available only for home owners. The residents of Kansas can easily fetch a good loan amount readily, in proportion with the value of their property through Free debt consolidation in Kansas. This loan can be used to pay off the debts and meet other expenses. The rate of interest charged on these loans is also low.
A consolidated loan on the other hand, does not offer an instant solution. It is a slow procedure, which can take about three to seven years to make you completely debt free. But your patience pays you, not only by making you debt free, but also by improving your credit standing in the market. You can get information from the internet and also acquire free online quote, for this service. This will help you further to make your decision.
Basically, a debt consolidator is also a lender, whom you approach for help. You approach Free debt consolidation in Kansas and they take up the responsibility of taking care of your debt affairs, on your behalf. All you need to do thereafter is to pay them a pre-decided sum each month. They will make a long-term payment plan and pay off your creditors accordingly. This will not only make your finances more manageable, but you will also find some free money flowing for your use.
During your online search, you may also come across free Christian debt consolidation. These are also like other consolidation companies, except for the fact that, they hold on to some Christian moral values. Thus, this consolidation is simply a financial program with a built-in structure in accordance to your religious convictions. So, individuals looking for ethical ground in their monetary actions feel safe in this kind of Free debt consolidation in Kansas.
Hence, it is a good idea to take these services in such a situation. But do weigh up the terms and various charges before you make a leap.