1. How to Lower Car Interest Rates in 5 Steps
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2. How to Lower Car Interest Rates in 5 Steps
When you are able to cut down the interest rate on your car loan, you
eventually have lower monthly payments. This is what everyone actually
wants whenever they go in for a credit card, a home loan and even for an
unsecured personal loan. A low-interest rate also means that you have
more disposable income you can put towards a savings account or pay-day
off some debts.
If you got a car loan which was at a higher interest rate due a poor credit
score, you can always work around it and reduce your rates. Here are 5
steps you can take to lower the interest rates on your existing auto loan or
any future car loans you would want to get.

3. How to Lower Car Interest Rates in 5 Steps
1. Clean Your Credit Report.
Bad entries on your credit report lead to low credit scores. Obtaining a
copy of your credit report will give you the opportunity of removing
(disputing) any anomalies on the report. You have to do this in writing to
the credit reference agency. When you write add any other important
documents that proves that the entry is incorrect. The agency will
investigate the matter. If they find the entry to be a mistake, they will
remove it from your report within 30 days. Errors removed from your
report will improve your score significantly. This is the first step you need
to take for getting your auto loans at affordable rates.

4. How to Lower Car Interest Rates in 5 Steps
2. Work Raising Your FICO Score.
Your FICO (Fair Isaac Corporation) score is the same as your credit score. The
scores range from 550 to 850. The score is directly influenced by the information
that appears on your credit report. After working to remove inaccurate entries on
your credit report, order a copy of your credit score. That is not free so you have
to pay.
If the score is low, take steps to raise it. What are some of the steps you can take
raise your credit scores? Paying your bills on time is one step you can take to
improve your score. Secondly, make less credit enquiries and pay as much of your
debts as possible, if you cannot remove it completely.

5. How to Lower Car Interest Rates in 5 Steps
3. Do a Comparison of Auto Loan Rates.
Use auto loan comparison websites to find at least 3 companies with the
lowest auto loan rates. Contact these lenders and request quotes from
them. The quotes should be no-obligation quotes. This is the best way of
obtaining the lowest auto loan rates.
4. After obtaining the quotes, approach the one with the lowest rates and
make your application. When approved, simply sign the new auto loan
documents.

6. How to Lower Car Interest Rates in 5 Steps
5. Consider Refinancing Your Auto Loan.
If you already have an auto loan, why not consider refinancing the current
loan? Contact your lender to discuss refinancing the loan, or look for a
new lender to do the refinance for you. When you refinance your auto
loan, you essentially create a new car loan at a lower interest that will pay
off the old one.
If you follow these steps you should be able to lower your car interest
rates.

7. How to Lower Car Interest Rates in 5 Steps
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