Jan. 20, 2010 -
PRLog -- The market today is flooded with all types of auto loan options (http://www.loans4drivers.com)
that range from bad credit auto loans to auto loans for people who have good credit. For a person who is in the market for an auto loan this can be very confusing as it makes it hard for them to choose the right type of auto loan. This article will discuss the various types of auto loans offered so that you can understand which type of auto loan (http://www.loans4drivers.com)
works best for you.
A quick auto loan (http://www.loans4drivers.com)
, as the name suggests, is an auto loan which is processed in a hurry, and many times the lender will not check your credit report prior to approving the loan. Some quick auto loans can be approved in less than 24 hours making it a great option for anyone who is interested in getting an auto loan in a hurry. One of the biggest and unknown of drawbacks of quick auto loan is that it is often accompanied by a very high interest rate. This interest rate can some times be well over 10% making it an expensive option.
Most dealers offer car financing (
http://www.loans4drivers.com) options to their clients. For some clients the dealer might offer an auto loan which allows them to drive off with their new car in just a few hours time. However as with the quick auto loan mentioned above the biggest drawback of this type of auto loan (http://www.loans4drivers.com)
is that it's really expensive. There are service charges, and other hidden charges in addition to the high interest rate charged. Many car dealers will also not extend an auto loan to people with bad or fair credit.
an auto loan offered by a bank or a financial intuition works best for most people. The interest rate on this auto loan (http://www.loans4drivers.com)
is not very high but it's still expensive. However banks are great for people who have good credit but then again people with good credit can always get much better interest rates from online lenders and other lenders as well. But this will require that people with good credit shop around both online as well as visit local lenders to find the best interest rate which they can get. This requires time as well as it can be a bit of a hassle.
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Loans4Drivers can help you get a car loan even with bad credit, no credit, bankruptcy or repossession. We will get you approved easily, quickly and at no cost to you whatsoever if you are in need of a bad credit auto loan or bad credit auto financing.
