Automotive Guruz

Filing bankruptcy is the worst thing that can happen to your credit score. But, no one really wants to have to file bankruptcy. Things happen such as losing your job, getting injured and not being able to work. In some cases, bankruptcy is a persons only way out of a mountain of debt.

While filing bankruptcy will destroy your credit score, it doesn’t mean that you’ll never be able to finance anything else again. There are lenders that specialize in car finance even with bankruptcies. But, there are also some negative aspects to getting these types of loans.

Although it’s not impossible to get car finance you will be charged a high rate of interest. Even if it’s been a few years since a lender will still consider you a risk. And, they know that you can’t get approved for car financing at most places and are willing to pay more interest.

Because lenders will see you as a high risk you will probably be asked to have someone with good credit co-sign for the loan. Having a co-signer protects the lender just in case you don’t make your payments. But, if you have filed for bankruptcy, it could be hard to find someone willing to stand good for your loan.

With the current economic instability in the financial markets, many people are now looking for ways to trim their budgets. One way consumers are cutting costs is purchasing used cars. One company that has seen an increase in used car sales is Honda.

The Honda Accord and Honda Civic are one of the most popular used car choices. The 2005 models were a specifically popular choice.

Other popular used Honda models along with an example model year include:

Honda Accord Coupe
1997 - 2008
2008:  MSRP$21,860 - $30,510, Fuel Economy 17 - 31 mpg

Honda Civic Hybrid
2003 - 2009
2008:  MSRP$22,600 - $24,350 Fuel Economy 40 - 45 mpg

Honda Civic Sedan
1997 - 2009
2008:  MSRP$15,010 - $22,460 Fuel Economy 25 - 36 mpg

Honda Civic Si Sedan
2007 - 2009
2008:  MSRP$21,310 - $23,260 Fuel Economy 21 - 29 mpg

Honda Insight
2000 - 2010
2006: MSRP$19,330 - $21,530 Fuel Economy 40 - 43 mpg

Honda Civic Coupe
1997 - 2008
2008: MSRP$14,810 - $22, 460, Fuel Economy 25 - 36 mpg

Honda Civic Si
2002 - 2006
2006: MSRP$20,290 - $22,240, Fuel Economy 22 - 31 mpg

Honda Civic Si Coupe
2007 - 2009
2008: MSRP$21,110 - $23,060, Fuel Economy 21 - 29 mpg

Honda Ridgeline
2006 - 2009
2008:  MSRP$28,000 - $35,090 Fuel Economy 15 - 20 mpg

Honda Odyssey
1997 - 2008
2008:  MSRP$25,860 - $40,610 Fuel Economy 16 - 25 mpg

Honda Accord Wagon
1997: MSRP$19,090 - $22,530 Fuel Economy 23 - 29 mpg

Honda Prelude
1997 - 2001
2001: MSRP$23,600 - $26,100, Fuel Economy 22 - 27mpg

Honda Del Sol
1997: MSRP$15,080 - $19,600, Fuel Economy 26 - 39 mpg

Honda Civic Hatchback
1997 - 2000
2000:  MSRP$10,750 - $12,200, Fuel Economy 32 - 37 mpg

Honda Fit
2007 - 2009
2008:  MSRP$13,950 - $16,070, Fuel Economy 27 - 35 mpg

Honda CR-V
1997 - 2009
2008:  MSRP$20,700 - $28,400 Fuel Economy 20 - 27 mpg

Honda Element
2003 - 2009
2008:  MSRP$18,980 - $23,575 Fuel Economy 18 - 25 mpg

Honda Passport
1997 - 2002
2002:  MSRP$23,300 - $30,900 Fuel Economy 16 - 21 mpg

Honda Pilot
2003 - 2009
2008:  MSRP$27,595 - $35,645 Fuel Economy 16 - 23 mpg

Honda Accord Hybrid
2005 - 2007
2007:  MSRP$31,090 - $33,090 Fuel Economy 28 - 35 mpg

Honda Accord Sedan
1997 - 2009
2008:  MSRP$20,360 - $30,260 Fuel Economy 19 - 31 mpg

Honda Civic GX
2008 - 2009
2008:  MSRP$24,590 Fuel Economy 24 - 36 mpg

Honda Civic GX NGV
2005 - 2007
2007:  MSRP$24,590 Fuel Economy 28 - 39 mpg

Honda S2000
2000 - 2009
2008:  MSRP$34,300 - $37,300 Fuel Economy 18 - 25 mpg

Dow Jones recently reported “that used car prices fell 8 percent in 2008.” This may be a great time to get yourself a quality used Honda. Make sure that you check the Kelley Blue Book to get an estimate of the price range for used Hondas. They can usually range anywhere from $11,000 to $15,000 depending on the age, condition, and detailing.

For many businesses, and especially those in the transportation industry, their truck fleet often represents a large amount of the companies’ capital assets. As a result, many of these companies tend to overlook the fact that if these trucks are part of the businesses’ assets, then they can be some of the assets of the business that may get repossessed if the company finds itself in a financial crisis and are unable to pay their bills.

If this were the case, then their creditors would step in, and they could eventually take away a few trucks or even the entire truck fleet if the company is in severe debt. For transportation companies, truck repossessions would pose a serious problem to the operations of their business so the creditors would likely take other assets as to not further hinder the business from potentially profitable operations. After all, a transportation company can’t do business without their truck fleet.

For this reason, when it comes to debt collection the creditors would not seize any assets that are vital in the day-to-day operations of the company. Many companies may at one point them find themselves in debt, and as a result it’s important to plan ahead and ensure that you’re most valuable assets are protected against debt foreclosures.

A used car loan can ease the burden of getting on the road with a new vehicle. Thousands of auto dealers have a lineup of good used cars for sale, and most of those dealers are able to offer financing options along with the car. The Internet opens up the possible choices even more, with easily searchable sites offering used cars of all prices, sizes, models, and manufacturers.

Thankfully, a similarly large selection applies to used car loans online. You don’t have to travel all over town! Here are a few of the better options for you to buy a car and get a used car loan at the same time.

Automotive.com — Established in 1998, Automotive.com is one of the leading used car loan dealers in the world of automotive e-commerce. With a big selection of new and used cars, this Internet dealer can likely give you what you want, when you want it. Additional services allow you to shop for insurance and arrange used car loans, while you’re choosing the vehicle you’ve always wanted. They’ll also allow you to post your existing car and put the proceeds toward your new vehicle. Even if you have a history of poor credit, repossession or bankruptcy, Automotive.com has used car loans available to you.

AutomobilesCars.com — This is the online dealer of choice for people with poor credit histories. AutomobilesCars.com boasts a 94% approval rate, meaning that virtually everyone is able to secure financing and purchase the car they want. This website provides easy and secure online applications, with privacy assured. AutomobilesCars.com specializes in providing free used car loan service for first-time buyers and consumers with no credit or histories of poor credit, repossession, slow pay, and bankruptcy.

CapitalOneAutoFinance.com — This online site is a popular choice of people looking for used car loans. Capital One is one of America’s largest online vehicle lenders, so this is the first choice of many potential buyers. This online financer has programs tailored to fit all budgets, whether you’re looking for new car loans or used car loans. The online application process is simple: Check the current loan rates, calculate how much your monthly payment is going to be, and submit the online application form. Your approval process will begin immediately and you’ll receive a fast reply.

Automotive.com — This site began operations in 1998, and has become of the Internet’s best-known used car loan suppliers. They offer a very large variety of used cars and new vehicles, and have a record of solid sales. They also branch out into vehicle insurance, and of course, used car loans. Customers are also encouraged to sell their previous vehicles on the site, and the sales price can be applied toward the new vehicle. Automotive.com also works with clients who have had a bankruptcy or poor credit history, or those who are getting an auto loan for the first time.

As cars get better and better over the years, more people realize they do not necessarily need a new car. Used cars offer better value because the largest depreciation has already occurred. If you are looking for a used car, take your time to check out the various used car loan providers. Doing so can save you a lot of money, and make getting your new wheels a lot easier.

Getting guaranteed auto loans before car shopping, especially with bad credit, is it lets you buy a car like you are paying cash. With car prices rising, even used cars, most of us can’t pay cash out right. But a guaranteed car loan gives you the ability to shop like you do.

Car financing is they way to go for most of us that find paying cash out of the question. There are different types of auto loans to choose from but the guaranteed preapproved auto loans are gaining in popularity. This is especially true with bad credit.

Auto loans that are guaranteed are just that. They are preapproved for terms and interest that you and the lender agree upon in advance of you shopping for a car. With a little research on your part you can get approval for one of these loans regardless of your credit history, even with bad credit.

One benefit you realize with on of these loans is you know in advance your spending limit. Overextending yourself is minimized and a budget is established so you can focus on shopping for within your guaranteed budget. You can save time and shop for cars in the price range that is affordable to you.

There are many benefits to getting a guaranteed auto loan or a pre-approved auto loan. The biggest benefit is that you don’t have to deal with the dealer when getting your loan. A lot of times when people get a loan from the dealership where they are buying their car, there are a lot of hidden fees that might come up in the future. With a pre-approved auto loan, you know exactly what you are getting into.

Getting approval for a guaranteed auto loan versus only having a dealer financing option will save you money. You won’t be talked into just any car by a salesman because they know you can buy almost any car you can afford and at any dealership. You put yourself in the proverbial drivers seat in the car buying process with a auto loan that is guaranteed.

Finding these auto loans will not be hard, but do some comparison shopping to get the best one. The object is to get the best auto loan interest rate, terms and monthly payments and then use it as bargaining chip at the dealer. Check online where you will find it easy to shop and compare different guaranteed auto loan quotes with good or bad credit, then confidently shop for your car after you choose one.