Ease Payments With A Secured Car Loan

If you live anywhere other than a city with a great mass transit system, you will need a car to get around from day to day. Buying a car is an expensive proposition, and unless you can pay for it in cash, you will need to take out a loan to pay for your car. Most automobile loans are obtained through unsecured means, with no more than a down payment or a trade-in value offered to obtain the loan. However, if you can offer up something as collateral, obtaining a secured car loan is a great idea that can benefit you in your car shopping. And even if you've already purchased your car, a secured car loan can still be of use to you.

When You're Shopping

The big benefit to a secured car loan is that since you are offering up collateral, you'll be able to have more buying power, including the possibility for a larger loan. For some people, that can make all the difference between being able to purchase a sensible family sedan and being able to buy a luxury car with all the bells and whistles. That's because bankers are willing to give a little more if you're willing to risk something you own on a promise that you'll pay.

Another advantage to setting up a secured car loan even before you get to the dealership is it shortens the amount of haggling that you'll have to do. In most cases, if you go shopping for a car, you'll have to argue with the salesman about the price, and then argue again to get their loan officer to give you some decent terms on your car loan. If you've ever sat in a dealership's loan office while they try to describe a loan to you in vague details, you know how much hassle setting up a secured car loan beforehand can save.

After The Car's Home

If you've already purchased your car, you haven't lost your chance to benefit from a secured car loan. Another advantage of having collateral to work with is that you can often get a lower interest rate than with an unsecured loan. This makes a secured car loan perfect for refinancing on your current automobile loan. It'll free up extra money for other expenses, or just allow you to put the same money you're paying now towards paying off your car faster.

Refinancing your automobile using a secured car loan can also help reduce the problems of having what is called an upside down car loan. If you have one of these, which means you owe more on the car than it is actually worth, something that is growing more common as auto dealers compete for lower financing and longer terms for loans. This makes it impossible to trade in the car or to sell your car without still owing some money on your original loan. Upside down car loans are tough to get out of, but with a secured car loan, you can lower your interest rates and ease up some of this problem. But a secured car loan is a great thing to get, whether you're just purchasing a new car or you're in your last year or two of payments on the one already in your garage.

FINANCE :The Export-Import Bank of Thailand will close registrations for an auction of 8.7 billion baht in non-performing loans on Sept 14.

Mortgage lender Anworth Mortgage Asset Corp. will take an estimated $142.8 million impairment charge after determining its Belvedere Trust Secured Assets Corp. is unlikely to find financing to pay its loans, according to a filing with the U.S.

Consumer Loan And Savings Rates A sampling of financial institutions was asked to quote the most recent lowest annual percentage rates they would charge a new loan customer with an annual income from $30,000 to $35,000 and good credit standing.

Hedge funds, private equity groups and investment banks are pitching a new concept to investors: rather than panicking about the chaos in the debt markets, put more money in to snap up corporate loans on the cheap and wait out the crisis.

LONDON (Thomson Financial) - The following is a compilation of UK smaller company results due out in the two weeks to Sep 21:

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