Here are five simple steps that could help you get a better deal on your auto loans.

1. Find out what your credit report says

The interest rates that are offered on auto loans are closely linked to borrowers’ credit reports and credit scores. The worse your report, and the lower your score, the more you’re likely to have to pay.

Before you think of applying for auto loans, get hold of a copy of your report. According to the Federal Trade Commission, you’re entitled to one free annual credit report, and the only authorized source for that is the website, AnnualCreditReport.com. Other websites may offer free reports, but they’re likely to be promotional incentives to sign up for a continuing (and paid-for) credit monitoring service. Of course, there’s nothing wrong with these in principle, if that’s what you require.

2. Fix your credit report

Companies that say they can fix your credit report are generally lying.

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If the number of loans and monthly payments are difficult to manage, then an offer to settle the debt by making a partial payment to creditors can help. Proposal to pay a lump sum, which is below the balance owed in consideration of the remainder being reduced, is called a complete and final debt relief. Usually, the offer is a percentage of the total amount owed to the creditor.

The reason why a debtor would make such an offer would be to use funds received unexpectedly to get out of debt. A legacy of a family member, a large refund of income tax department or may be a gift from a friend could be exploited in this way.

If more than one creditor in question, then it is prudent to make an offer to all creditors at the same time. The offer should also be on a proportional basis in relation to the debt. The reason is that when they see they are all received a similar offer, they are more likely to accept.

The system of payments must be calculated using a specific formula, based on total debt, the funds available and the balance of each individual creditor. Read more…

You may have wanted a car so badly all your life but could not afford to purchase one. May be you have even tried to apply for a personal loan but could not get it. Worry no more because there are other means of getting auto finance instantly.

One alternative to putting yourself at the mercy of the bank management by lining in their long queues, is by applying for car loans online. There are quite a number of lenders who will only require your details and a solid assurance that you will repay the loan. Their interest rates are also very reasonable because of the tight competition. In 24 hours you could have your loan approved despite your credit rating and soon after you could be in your new car driving to a destination of your choice.

The other alternative is special dealerships. Walk into a dealer’s shop and inform the salesperson that you may need financing assistance.  That way, you give them the time to start the process of enabling you acquire auto finance while you look for the car you want. Yo

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Q: Are there specific student loans for part time students in college, or do part time college students apply for the same financial aid and student loans as full time college students?

A: For federal financial aid, including federal student loans, a student’s full or part time status can affect how much financial aid they will qualify for, or if they will qualify at all. Most schools will consider anything over 6 credits as part time, however part time and full time student status requirements can be different for each school. Students must check with their school to be clear on the requirements for fulfilling part time student status. Part time students are eligible for federal financial aid, including federal student loans for part time students, while students who are considered below part time are not eligible for federal financial aid.

For some federal student loans, such as the Perkins and subsidized Stafford, the amount a student will qualify for can be dependant on their status as either a part time student or a full time student. T

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