GOOD CREDIT CAR LOANS

The Credit Crunch & Good Credit Customers

Inside Story: 0% Financing

Car sales dropping from 14 million a year to 9 million a year led to the expansion of zero percent finance offers. That's the good news.

The bad news is first, many of us won't qualify, and second, these incentives are generally on vehicles nobody wanted to buy anyway.

So by all means, if you see an ad for zero percent financing, go check it out. At CarLoan.com, we don't take it personally -- no bank can compete with free. We get that.

But if you tried that, and it didn't work out for you, we're an excellent Plan B. You can apply for a car loan online without obligation and with no charge. Our dealers are wired to hundreds of lenders. Boost your odds. Try it.

Lots of news reports lately that good credit customers are getting surprise rejections at car dealerships. We're here to tell you that in many cases, that's true. It's also true that, on a more broadbrush level the credit crunch is easing.

So yes, a dealer who has always relied on one big bank will start seeing surprise rejections when that bank temporarily cuts auto loans by 90 percent to raise reserves (ala Americredit). Dealers in the CarLoan.com network are electronically linked to hundreds of lenders, and that increases your odds of getting approved.

Even if you wind up paying a bit higher interest than you originally thought, the depressed car prices in this market more than make up for it. The average car price is nearly $2,000 lower than at this time last year; it's the great auto closeout sale, and you don't want to miss out on it. Go ahead and apply. You have nothing to lose. The online application is free and no-obligation.

For some research on the outstanding car deals in the marketplace today, please see our page on top new cars for online credit customers and our page on top used cars around $10,000. Why the $10,000 range? Because the easiest way to keep interest costs down is to keep the loan short, the easiest way to increase your chance of approval is to borrow less and put more down (say, 12 percent).

You can get a lot of car for the money nowadays. Read more or apply right now.

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