Get No Credit Check Auto Loan From Low Interest Car Loan Lenders In America

April 1, 2010 - PRLog -- Low interest car loan rates are offered to those with good credit, very good credit or excellent credit. They are offered on both new and used cars but the lowest car loan rates on used cars are generally subsidized by the car manufacturer on recently used models. Used car financing has gotten very competitive in the last several years and many dealers are very dependent on strong used car sales to meet their objectives. Low and very competitive used car loan rates bring in many customers who later may also buy a new car.

It is fair to say that the low interest no credit car loan rates are among the most important marketing tools that the average auto dealer has to work with. They are offered to those customers who they think will be repeat buyers and can go somewhere else if there’s a better interest rate on a comparable car. The same is true for used car financing.

Once you no longer have good or excellent credit, the advantage shifts to the seller because you are interested in purchasing whatever you can get a loan on. The emphasis moves from low interest car loan rates to the not rate oriented sales proposition of being able to finance a car for the buyer regardless of their credit. In this scenario the interest rate is generally very high. Used car loan rates set up to attract this kind of buyer are often in the double digits. But remember, the point is really not about the rate its all about the availability of the financing. Another important question the poor credit applicant has is if they have to put money down. This is very hard for many poor credit applicants and generally they will pay higher used car financing rates if they can get 100% financing or something approximating 100%.

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As one can see, low interest car loan rates and used car loan rates is more about credit than anything else. Poor credit is about getting financing and not really very much about rates. For the person with fair credit they are caught in the middle and have to be careful that they do get the best rate that’s available.

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It is fair to say that the low interest no credit car loan rates are among the most important marketing tools that the average auto dealer has to work with.