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From the Los Angeles Times Dec. 30, 2007:

Americans haven't just been taking out risky mortgages for homes in the last few years; they've also been signing larger automobile loans for significantly longer terms than they used to. As a result, people are slipping into a perpetual cycle of automobile debt that experts think could lead to a new credit crunch extending from dealerships to driveways and all the way to Wall Street. Gone are the days of the three-year car loan. The length of the average automobile loan hit five years, four months in October, up more than six months from 2002, according to the Federal Reserve. And nearly 45% of loans written today are for longer than six years. Even some staid lenders owned by the carmakers, such as Toyota Financial Services and Ford Credit, are offering seven-year financing. And a few credit unions, particularly in the West, are tinkering with the eight-year note. At the same time, the amount of money drivers owe on their cars is soaring. In October, the average amount financed hit $30,738, up $3,500 in just a year and nearly 40% in the last decade, according to the Fed. More troubling, today's average car owner owes $4,221 more than the vehicle is worth at the time it's sold -- up from $3,529 in 2002, according to industry analyst Edmunds. The longer loans are directly related to the higher balances. By extending the length of loans, lenders keep monthly payments down. But because these loans take longer to pay off, a much larger piece of the principal remains unpaid at the time the car is traded in.

Saurabh Jain writes:

Why do you think has bad credit car financing become so common in car sales? A large number of cars are being sold to people who do not have the best of credit, they may be in a spot of financial bother yet they want to avail bad credit car loans. Why is that? The fact of the matter is that you need to be able to move rapidly to take advantage of emerging opportunity. If you cannot, then you may well have to resign yourself to staying constrained and mediocre all your working life. With a good car under you, you can move around, get extra work done and be more productive. That is why more and more people are going in for poor credit auto loans.

An important factor that you must consider is prepayment. Agreed, today you may not think you will pay the loan off early, but who knows? Maybe you will get a lucky break after two years and will find yourself with a larger disposable income with which you may want to finish off your loan early. Your online auto financing agreement should have a clause that allows you to pre-pay. Why continue with a loan when you can clear it?

When you have acquired a car, you may well begin to wonder if you really have the best deal you possibly could get. Maybe, you find financing companies who offer lower interest rates. Why should you not take advantage of these lower rates and finish your installments months earlier? This is where re-finance comes in. Even if you have had terrible credit in the past, bad credit refinance car loan companies will look at your recent track record and your repaying capability and will possibly be only too glad to give you finance with your poor credit.

There are, of course, a few norms. Your car must have good residual value and your recent payments must be in time. If you also have savings to show, then so much the better. If these conditions are met, getting bad credit refinance auto loan is a breeze. The multitudes of online companies in the market have given a customer so many options that getting and paying for a car is now easier than ever before.

In the final analysis, these loans allow you to take charge of your life and give you an option to change things around for the better. Of course, you have to make the first move. The fact that you are reading this page is an indication that bad credit car financing may well be about to change your life.

Bad credit car financing gives many people an opportunity to take a second chance at life. The mobility you get with bad credit car loans opens up a number of options. With online auto financing, you can take a second part time job more easily and generate much larger streams of income.

Asheesh Mani writes Dec. 23, 2007:

Refinance used car loans presents a unique opportunity by aiming at reducing the debt burden. If you had bought a used car availing a beneficial low interest loan and a sudden change in the market made the interest rates suddenly higher, then you can make use of the new rates. If you think that the pressure the loan is a bit higher than your budget can afford, then you need refinance used car loans. After availing this type of cheap car loan you donít have to pay high monthly installments. These low interest car loans also benefit those who have improved their credit score and employment status. This acts as a cheap car loan.

You can lower the loan payments by refinancing and by extending the length of your loan, but you might have to pay more interest in the course of the loan. The loan amount depends on the current market value and the outstanding amount. You will not be able to get a loan in which the amount surpasses the market value of the used car. Generally smaller amounts are involved in refinance used car loans and this trims down the hurdles of the lender. Before applying for any used car loans, you should contact your current lender for the balance of your existing loan.

The lenders like the banks, financial institutions and agencies have a cyber home for catering their services. The vibrancy of the internet has showcased their plans with details. If you want to make use of the refinance used auto loans then browse through a number of sites and obtain quotes from those agencies that interest you. Conduct a background research on the agencies to find if they are really reliable.

Now compare the results you have in hand and see which one benefits you the most, primarily looking for larger repayment duration and lower interest rate. You can apply online by supplying details such social security number, employment information, mortgage payment if any; monthly income and contact information may be also required. An online application saves a lot of time and there is no processing charge involved. As online lenders work with several lenders, refinancing should not be a problem if your credit is good or bad.

Finally: After receiving the check, send it to your previous lender and complete the other formalities as per instructions.

Car Repair Loans: Apart from refinance used car loans there is another important thing that you may benefit from Ė car repair loans. Car repair loans funds expensive car repairs and pays for insurance deductible. It even helps for a major breakdown. Refinance used car loans can relieve one from the pressure of debt. People can refinance loans and benefit from lower rates of interest. Applying for a refinancing is easier online. Car repair loans are cheap car loan rate that can help you when you need urgent car for car repairs.

Andrina James writes:

There are many reasons why people take a refinance car loan. You may be unhappy with your current loan. Your monthly payment may be too high for you to manage. In this case, opting for a car loan refinance may be your best bet. There a few benefits of getting a refinance that I will mention below. There are also some things to be aware of in a refinance car loan or used car financing.

The main benefit of taking a refinance car loan is that you can save money on your monthly payments. The main feature of the loan is the lower car finance rate. This is probably the only reason we need to take such a loan. Lower interest rates mean lower monthly payments. You can either pay off your loan faster or even extend the term of your loan. You will find many companies offering to refinance your car loan. It may seem difficult to choose the right one. You just need to consider certain basic things. Once you do that, you can select the best company. You should first see that the auto loan interest rate is lower than your first loan. You must also take a look at all the terms and conditions to make sure there arenít any hidden charges. Once you are certain that you will save money on your monthly payments with a particular company, you can go ahead and take a refinance car loan from them.

From North Denver News:

If your credit situation has changed, or interest rates have dropped, it is possible to refinance a car loan. With the beginning of the New Year, it is great time to get your finances in order, and escape high-interest rate loans. Here's some of the options available - whether you are looking for a new car loan, or to refinance an existing car loan- you can put hundreds of dollars back in your pocket monthly, even, smartly move dollars to savings or investment. RateGenius is a multi-state, web-based loan brokerage company. By hosting a virtual marketplace, rateGenius brings together qualified borrowers and competitive lenders to create the best possible financing opportunity for our customers.