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Low Auto Financing Rates Are Bringing New Car Customers In The Market!

Nowadays guaranteed credit approval car loan is provided by many auto loan firms. Their auto financing rates are also attracting the new car buyers. Few companies have dropped their rates to 1.9% interest and itís lower than the average inflation rate. Even the banks are competing with the auto manufacturers by lowering the auto loan rates.

With the recent drop in the car sales, auto financing rates are once more attracting the new car buyers. The newspaper headlines are reporting that an effort to draw more car manufacturers and customers have reduce the new car loan rates and the interest rates have turn negative over the total life of the loan. Many companies have even dropped their rates to nearly 1.9% interest and itís lower than average inflation rate. You can even find few companies in the market which provide 0% interest rate deal, but for that you need to have excellent credit score. Loansstore also provides personal car financing for the needy individuals.

Even the banks are trying to compete with the auto manufacturers by lowering their car loan rates. But the rates are still higher than those of carmakers. Car finance lenders are trying to grab the market by providing the lowest rate. The bank rates are also goodComputer Technology Articles, but they are 1-2% higher and in some cases they are as high as 6%. All these rates are usually for the new cars and provided for a five years loan.

If a person wants to get low rates than he should compare auto loan rates from different lenders and find the best loan deal from them. If he is purchasing the loan from any dealership then he should first understand the loan. Dealerships have their loans available through the loan companies and banks. Few dealerships just want to make profit in their business and thus they charge very high interest rates from customers.

The customers should thus avoid such dealership loans. There are auto loan lenders who even provide car loans with no credit but in turn they charge high interest rates. Without cosigner the lenderís risk is increased. Itís very sad that in hard times people canít take advantage of some offers. But the government is saying that economy is improving. This sentence is building confidence among consumers to purchase their cars with the help of auto loans.

Source: Free Articles from ArticlesFactory.com

ABOUT THE AUTHOR


Shelin Michel is a regular feature writer for†Autodriver.com. He writes regularly on topics such as†auto loan with bad credit†and has helped readers in developing in-depth understanding of†used car finance††and the industryís operations.



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