Common Questions - Page 171

No, a car loan preapproval does not cause a hard inquiry. A hard inquiry is when a lender pulls your credit report to determine if you are eligible for a loan. A soft inquiry is when you check your own credit report or when a lender checks your credit report as part of a preapproval process.

Rolland Smith

Sep 08, 2023

There is no definitive answer to this question as it can vary depending on the lender and the terms of the loan. However, most lenders will allow car loans to be extended up to 60 or 72 months, depending on the make and model of the vehicle. It is important to note that extending the length of the l

Teresa Lange

Sep 08, 2023

1. It depends on your financial situation.2. An 84-month car loan may not be the best option for you.3. There are other factors to consider before you decide whether or not to get an 84-month car loan.4. Talk to your financial advisor to get their advice before you make a decision.

Dennis Fredrick

Sep 08, 2023

1)Yes, a car loan typically charges compound interest. This means that the interest you owe on the loan accumulates over time, and the total amount you owe will be larger than the original loan amount. This can add up to a lot of extra money over the life of the loan.2)There are ways to reduce the a

David Griffin

Sep 08, 2023

A cosigner for a car loan can be anyone who is creditworthy and agrees to be responsible for the loan payments if the borrower fails to make them. This could be a spouse, parent, or other relative or friend. A cosigner can help you get approved for a loan if you don't have a high enough credit score

Rebecca Banda

Sep 08, 2023

It can be hard to get a car loan if you have a limited credit history. Many lenders will want to see at least two years of credit history before they will approve a loan. Additionally, you may need to have a higher credit score and a higher down payment in order to be approved. However, there are le

Leona Emert

Sep 08, 2023

There are a few ways that you can lower the APR on a car loan. One way is to shop around for a lender who offers a lower APR. Another way is to try to negotiate a lower APR with your current lender. You can also try to refinance your loan with a new lender. whichever way you choose, be sure to compa

Ronald Johnson

Sep 08, 2023

No, prequalification does not guarantee a car loan. Prequalification is simply a way to determine how much money a lender is likely to be willing to loan you for a car. It is not a guarantee that you will be approved for the loan.

Gary Thornton

Sep 08, 2023

There are several advantages of a long-term car loan. One advantage is that you can spread the cost of the car over a longer period of time, making it more affordable. This can be especially helpful if you don't have a lot of money saved up. Another advantage is that you can usually get a lower inte

Annie Travis

Sep 08, 2023

There are a variety of options available for car loans, depending on your credit score. A 750 credit score qualifies you for a competitive interest rate, and you can likely find a lender who will be happy to work with you. Be sure to compare interest rates and terms from a variety of lenders to find

Jerry Tomlin

Sep 08, 2023

There is no one definitive answer to this question. It depends on the loan agreement that was signed when the car loan was taken out. Some car loans have a fixed interest rate that cannot be renegotiated, while others may have a variable interest rate that could be renegotiated under certain circums

Annie Travis

Sep 08, 2023

There is no definitive answer to this question as it depends on a variety of factors, including your financial situation, the cost of the car, and the interest rate on the loan. Generally speaking, if you can afford to pay cash for a car, it is usually wiser to do so, as you will avoid paying intere

Helen Brode

Sep 08, 2023