Car Loan Guide - Revision history

221.220.188.217: /* Other Resources */

2008-01-09T00:38:26Z

Other Resources

← Older revision		Revision as of 00:38, 9 January 2008
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	[http://www.annualcreditreport.com Free Credit Reports]		[http://www.annualcreditreport.com Free Credit Reports]

	~~[http://www.carandautoloans.com Car Loans Guide]~~

221.220.188.217: /* Tips */

2008-01-09T00:38:07Z

Tips

← Older revision		Revision as of 00:38, 9 January 2008
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	'''4. Know what you are signing''' and speak up if you think there's a problem. A variety of laws provide consumer protections in the context of auto loans. Among them: the federal Truth in Lending Act, which requires lenders to disclose to borrowers the terms of a loan (including the Annual Percentage Rate and the total cost of the loan), and federal and state laws that prohibit unfair or deceptive business practices. However, you have a responsibility for protecting yourself, too.		'''4. Know what you are signing''' and speak up if you think there's a problem. A variety of laws provide consumer protections in the context of auto loans. Among them: the federal Truth in Lending Act, which requires lenders to disclose to borrowers the terms of a loan (including the Annual Percentage Rate and the total cost of the loan), and federal and state laws that prohibit unfair or deceptive business practices. However, you have a responsibility for protecting yourself, too.

	"One of the most important things a borrower can do is to carefully review the loan document before signing it, because this is a contract legally binding you to repay according to the terms of the document," says FDIC attorney Mark Mellon. While the Truth in Lending Act gives consumers the right to cancel certain mortgage contracts up to three business days after signing the contract, Mellon says, "there may or may not be a similar protection for your auto loan depending on your circumstances and state law, so it's best to be comfortable with your decision before you sign on the dotted line."		"One of the most important things a borrower can do is to carefully review the loan document before signing it, because this is a contract legally binding you to repay according to the terms of the document," says FDIC attorney Mark Mellon. While the Truth in Lending Act gives consumers the

	==Other Resources==		==Other Resources==

69.235.239.189 at 02:02, 4 January 2007

2007-01-04T02:02:19Z

← Older revision		Revision as of 02:02, 4 January 2007
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	[http://www.annualcreditreport.com Free Credit Reports]		[http://www.annualcreditreport.com Free Credit Reports]

			[http://www.carandautoloans.com Car Loans Guide]

216.111.127.123: only one financing company listed - seems biased

2006-09-28T09:41:30Z

only one financing company listed - seems biased

← Older revision		Revision as of 09:41, 28 September 2006
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	==Other Resources==		==Other Resources==
	~~[http://www.fordcredit.com Ford Credit Financing]~~

	[http://www.fdic.gov/consumers/consumer/index.html FDIC Info and Tips]		[http://www.fdic.gov/consumers/consumer/index.html FDIC Info and Tips]

136.2.1.103: /* Other Resources */

2006-09-01T08:32:06Z

Other Resources

← Older revision		Revision as of 08:32, 1 September 2006
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	==Other Resources==		==Other Resources==
			[http://www.fordcredit.com Ford Credit Financing]

	[http://www.fdic.gov/consumers/consumer/index.html FDIC Info and Tips]		[http://www.fdic.gov/consumers/consumer/index.html FDIC Info and Tips]

207.212.173.2: removed other links in favor of their own :-(

2006-08-11T18:08:53Z

removed other links in favor of their own :-(

← Older revision		Revision as of 18:08, 11 August 2006
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	==Other Resources==		==Other Resources==
	~~[http://www.fordcredit.com/ Ford Credit Automotive Financing]~~

	[http://www.fdic.gov/consumers/consumer/index.html FDIC Info and Tips]		[http://www.fdic.gov/consumers/consumer/index.html FDIC Info and Tips]

136.2.1.153: /* Other Resources */

2006-08-10T09:06:32Z

Other Resources

← Older revision		Revision as of 09:06, 10 August 2006
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	==Other Resources==		==Other Resources==
			[http://www.fordcredit.com/ Ford Credit Automotive Financing]

	[http://www.fdic.gov/consumers/consumer/index.html FDIC Info and Tips]		[http://www.fdic.gov/consumers/consumer/index.html FDIC Info and Tips]

	[http://www.ftc.gov/bcp/conline/edcams/automobiles/index.html FTC Info and Tips]		[http://www.ftc.gov/bcp/conline/edcams/automobiles/index.html FTC Info and Tips]

	~~CarsDirect Guide to [http://www.carsdirect.com/auto-loans Auto Loans]~~

	[http://www.annualcreditreport.com Free Credit Reports]		[http://www.annualcreditreport.com Free Credit Reports]

	~~[http://www.fordcredit.com/ Ford Credit Automotive Financing]~~

136.2.1.153: /* Other Resources */

2006-08-10T09:06:11Z

Other Resources

← Older revision		Revision as of 09:06, 10 August 2006
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	[http://www.annualcreditreport.com Free Credit Reports]		[http://www.annualcreditreport.com Free Credit Reports]

			[http://www.fordcredit.com/ Ford Credit Automotive Financing]

65.199.160.34: Added link to free credit report site

2006-08-04T13:24:28Z

Added link to free credit report site

← Older revision		Revision as of 13:24, 4 August 2006
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	'''1. Review your credit report''' long before you intend to apply for a [[Car Loan]]. A credit report is a summary of your financial reliability – for the most part, your history of paying debts and other bills – as compiled by a company called a credit bureau. Why should you see your credit report before applying for a car loan? To correct any error before it slows down your credit approval or prevents you from getting the best possible loan terms. "Erroneous information can cost you hundreds of dollars because you could be disqualified from the best financing terms available," says Joni Creamean, a Senior Consumer Affairs Specialist with the FDIC. "You will be considered a riskier borrower and charged higher rates or be required to provide a larger down payment." Creamean adds that it could take months to correct errors in your credit history.		'''1. Review your credit report''' long before you intend to apply for a [[Car Loan]]. A credit report is a summary of your financial reliability – for the most part, your history of paying debts and other bills – as compiled by a company called a credit bureau. Why should you see your credit report before applying for a car loan? To correct any error before it slows down your credit approval or prevents you from getting the best possible loan terms. "Erroneous information can cost you hundreds of dollars because you could be disqualified from the best financing terms available," says Joni Creamean, a Senior Consumer Affairs Specialist with the FDIC. "You will be considered a riskier borrower and charged higher rates or be required to provide a larger down payment." Creamean adds that it could take months to correct errors in your credit history.

	It's also smart to review your credit report from each of the three major credit bureaus that operate nationwide-Equifax (www.equifax.com), Experian (www.experian.com) and TransUnion (www.transunion.com). Credit report content may vary significantly among the credit bureaus, so that's why experts suggest you request copies from all three companies. The costs of these reports can vary, too. However~~, beginning December 1, 2004, in western states and moving east with completion scheduled for September 1, 2005~~, you ~~will be~~ entitled to a free credit report annually under the provisions of the new Fair and Accurate Credit Transactions Act.		It's also smart to review your credit report from each of the three major credit bureaus that operate nationwide-Equifax (www.equifax.com), Experian (www.experian.com) and TransUnion (www.transunion.com). Credit report content may vary significantly among the credit bureaus, so that's why experts suggest you request copies from all three companies. The costs of these reports can vary, too. However, you are entitled to a free credit report annually under the provisions of the new Fair and Accurate Credit Transactions Act (www.annualcreditreport.com).

	'''2. Shop for a loan before you visit a dealership''' or bid for a car over the Internet. Contact your bank and several other local lenders. Ask about the loans they offer – the number of months for which you can borrow, the interest rates being offered, whether there are penalties if you pay the loan off early, and so on. Ask about other options for financing the car.		'''2. Shop for a loan before you visit a dealership''' or bid for a car over the Internet. Contact your bank and several other local lenders. Ask about the loans they offer – the number of months for which you can borrow, the interest rates being offered, whether there are penalties if you pay the loan off early, and so on. Ask about other options for financing the car.
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	CarsDirect Guide to [http://www.carsdirect.com/auto-loans Auto Loans]		CarsDirect Guide to [http://www.carsdirect.com/auto-loans Auto Loans]

			[http://www.annualcreditreport.com Free Credit Reports]

172.16.2.114 at 21:53, 26 June 2006

2006-06-26T21:53:18Z

← Older revision		Revision as of 21:53, 26 June 2006
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	==Tips==		==Tips==
	'''1. Review your credit report''' long before you intend to apply for a [~~Car_Loan~~]. A credit report is a summary of your financial reliability – for the most part, your history of paying debts and other bills – as compiled by a company called a credit bureau. Why should you see your credit report before applying for a car loan? To correct any error before it slows down your credit approval or prevents you from getting the best possible loan terms. "Erroneous information can cost you hundreds of dollars because you could be disqualified from the best financing terms available," says Joni Creamean, a Senior Consumer Affairs Specialist with the FDIC. "You will be considered a riskier borrower and charged higher rates or be required to provide a larger down payment." Creamean adds that it could take months to correct errors in your credit history.		'''1. Review your credit report''' long before you intend to apply for a [[Car Loan]]. A credit report is a summary of your financial reliability – for the most part, your history of paying debts and other bills – as compiled by a company called a credit bureau. Why should you see your credit report before applying for a car loan? To correct any error before it slows down your credit approval or prevents you from getting the best possible loan terms. "Erroneous information can cost you hundreds of dollars because you could be disqualified from the best financing terms available," says Joni Creamean, a Senior Consumer Affairs Specialist with the FDIC. "You will be considered a riskier borrower and charged higher rates or be required to provide a larger down payment." Creamean adds that it could take months to correct errors in your credit history.

	It's also smart to review your credit report from each of the three major credit bureaus that operate nationwide-Equifax (www.equifax.com), Experian (www.experian.com) and TransUnion (www.transunion.com). Credit report content may vary significantly among the credit bureaus, so that's why experts suggest you request copies from all three companies. The costs of these reports can vary, too. However, beginning December 1, 2004, in western states and moving east with completion scheduled for September 1, 2005, you will be entitled to a free credit report annually under the provisions of the new Fair and Accurate Credit Transactions Act.		It's also smart to review your credit report from each of the three major credit bureaus that operate nationwide-Equifax (www.equifax.com), Experian (www.experian.com) and TransUnion (www.transunion.com). Credit report content may vary significantly among the credit bureaus, so that's why experts suggest you request copies from all three companies. The costs of these reports can vary, too. However, beginning December 1, 2004, in western states and moving east with completion scheduled for September 1, 2005, you will be entitled to a free credit report annually under the provisions of the new Fair and Accurate Credit Transactions Act.