Skaaz

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j'ai voulu tester et j'ai fait le mien !
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Are You Credit Worthy?

Credit History: Every time you pay a bill, this action is tracked by a credit bureau. They note whether it was paid on time, whether the minimum payment was made, as well as the total amount of debt you have accumulated. The effectiveness of your ability to pay this bill results in a credit or FICO score between 300 and 850.?

Income: A lender will look at? your income, how long you've been doing your job, if you bounce from job to job and how long you've been working in your particular profession. All of these criteria go toward creating a profile of stability and ability to pay the debt. They compare your income to the cost of your mortgage, credit card bills, car payment or any other outstanding debts and use this figure to create a debt-to-income ratio. Generally this number is kept under 36 percent.

Loan to value ratio (LTV):? This is the difference between what you owe on your house and what it's actually worth; for instance if your home is worth $100,000 and you have an outstanding balance of $80,000, your loan to value ratio is 80 percent. Lenders usually keep this total at about 80 percent or less.

How to Reduce Auto Loan Rates

To start with, make sure that you state out every detail and feature clearly when taking a loan. It is very important, because this step will enable you to lower the chance of your chosen company or bank, charging you high rates. Make all details accessible for them, so that not to leave them any single item to qualify for a discount.

Another way is changing your loan. You can shop around and compare auto loan rates offered by different companies. If the other company offers better premiums, then you can refinance your loan, as refinancing is the best way for those willing to reduce the monthly payments. Lower interest rates will save you a significant amount of money.

To reduce your auto loan rates and charges, it is important to arrange your loan payments just on time. It must be a really effective way for reducing your rates, if you begin paying half of your monthly amount bi weekly. This way you will find that, you covered the whole year?s payments in 11 months; this method will sufficiently decrease your loan amount and interests.

Another way to reduce your interest payments is to pay off a larger amount of your payments straight away. Even the smallest additional payment will make a big deal in reducing your loan rates. The larger amount you will pay immediately, the sooner you will pay off your loan and the more money you will save.

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