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Avoid Fees - When using long-term investments as a money-earning vehicle, it is wise to remember that any returns that are made on that money must deduct any fees paid...

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Auto Finance Manager

It is possible to obtain an auto loan even if you have declared bankruptcy. Initially it is good to find out if you have a god credit history. An individual can search the government website to check this history. For example, if your score is 300 and less then your credit history is poor. If you get a number more than 500 it’s a good sign. A number above 800 is considered a good score and there is a better chance of obtaining an auto loan. In case you have a score which is less than what is required, the loan that you obtain carries a higher interest rate. This is known as a sub prime loan. By chance you come across errors in your credit history, write immediately to the bureaus disputing the discrepancies. Request for more details and submit original documentation as proof to dispute the discrepancies. In case this doesn’t work in your best interest contact the creditors and negotiate a payment method if necessary. Payment must not be met until an agreement is provided by the creditors with written confirmation.

When searching for an appropriate car loan, research as much as possible without settling for the first car that comes along. In case you don’t have the right knowledge in auto dealerships take along someone who has that knowledge. At the car dealers the salesperson will question you on your credit history. Certain questions will be asked, like if you have declared bankruptcy, and the steps that are being taken to improve the credit history. If you have a credit history that is not too good, you will require an interest rate of 0 to 12.9 percent on your loan. It is possible to calculate your interest rate on a loan savings calculator. Before making a decision about the car it is wise to speak to the auto finance manager. The auto finance manager will have better knowledge about the dealership than the sales person. The salesperson is more interested in selling cars for a higher price. The auto finance manger functions as the person offering the best advice to a customer wanting to purchase a car.

A few questions you can ask the auto finance manager is for example, the agency that is being used for credit reporting, the minimum approval rating on a credit score and leasing incentives that are being offered especially to a first time customer.

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