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Follow on Google News | Does Account Closing Get Auto Loans ApprovalMost of the auto loans applicants usually take advice from credit consultants, lending pundits and dealers on how they can improve their credit score and then get approved for the loan.
By: Henry Griffin Some lenders tell their clients to shut off old accounts as it reduces the paperwork involved and also doesn't show up their old accounts on the auto loans (http://www.consumerautoloan.com) Lenders wish to gain more information on their client's payment history and closing off accounts doesn't give them a chance to judge that. Another disadvantage of doing this for auto loans is that the applicant is cutting of his/her ties with that bank. Aside from their usual consumers, banks give a lot of preference to their personal clients and provide them finances at a reduced rate or general rate because they know about the applicant. This means that closing the bank account would close off the chance to get auto loans at a decent rate of interest. # # # Consumer Auto Loan is your final destination for auto loans or bad credit auto loans online. More information about Consumer Auto Loan can be found at http://www.consumerautoloan.com. End
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