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13″ x 24″ Lighted Imitation Neon Sign - “Auto Title Loans

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Hi All,

Apologies for asking the answer for resolved questions. From the answers it is clear that personal auto loan is not tax deductible. I live in California and I own a home. My credit union says, If I pay $200, then they can make my auto loan as home lien, which will make my auto loan tax deductible.

Is it legitimate to do so, or is my credit union doing something fishy? I am kind of concerned after seeing the earlier answers.

That really sounds like they are offering you a Home Equity Line Of Credit (or HELOC). The interest on a HELOC is tax deductable since it's a lien on your home, however that can be very risky if you live in a declining market.

What concerns me is how the Credit Union presented it to you - $200 is probably closing cost on the HELOC, but if you don't FULLY understand the loan I would NOT go forward with it! California was hit pretty hard by the housing crisis and you might put yourself in danger taking out a HELOC, which does count as a second mortgage.

It might be a great program - don't get me wrong - but you want to make totally sure you fully understand the details and weigh all your options before you sign anything. The tax savings might not be worth it at all.

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I am trying to purchase a new car that is $16,500. Please provide links to banks and no credit unions, that offer auto loans under or equal to 5% I don’t mine opening up credit cards or other types of accounts for discounts. Thanks and I REALLY appreciate the help!
My credit is excellent- Middle score of 783

783 is a GREAT score.

Banks can never beat credit unions' rates because banks are in business to make a profit. Credit unions are non-profit organizations.

Why wouldn't you want to finance through a credit union?
It makes the best financial sense for you.
You would definitely qualify for the lowest rate.
Right now my credit union is offering 4.69% for 72 months with good credit. 783 is great credit.

You should not be required to open up other accounts, so I wouldn't even mention that when applying. It will only hurt your credit score because it increases your potential debt.

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I'm wondering if it is possible to be approved for 2 auto loans in one month? I need a car for myself, because i am going to let my wife have the vehicle i am using. Another problem is, my son needs a car as well. Is it possible to get financed for 2 cars in one month, or is it impossible? Wouldn't it show up to the lendor that their is already a vehicle financed? Wouldn't it be a good idea to go to 2 different banks or lendors for the financing? It would not be viable to apply for 2 auto loans from one company would it? So basically my question is this. Is it possible to be approved for 2 auto loans from 2 different lendor's in one month? I'm confused on how it works and if it's not possible, what would be another viable option?

I hope this makes sense,
Any info is greatly apreciated.

Thank you.
My credit is not spotless by any means (i was young) But i do have a credit score in the 700's. I make about 100-120k a year. Paying for both loans for both cars really wouldn't be a problem. Also, does it help at all from the lendor's that i work for the Government? I would like to be able to get financed for both cars, so i don't have to make a down payment on either car. So i can just pay outright for both cars. I don't want to do anything sketchy or illegal, that's not me. How if it's possible, would i go about getting both auto loans? Would i need to tell both lendor's that i have another loan from another bank for it to be legal? I'm just not sure of how to go about it.

Again any info is greatly apreciated.

Thank you

Yes, it IS possible, but why would you want to do something like that, when you COULD do something much better for your specific situation. If your son is 18, then FIRST go with him to pick out a car, and co-sign his loan so that it will be building his credit and will get approved because you are on the loan. It may be a little higher rate for him, but you will be doing the best thing you can for his credit… building it. THEN go out and get the second one on your own. I mean you could do it the way you were explaining before but you'll need credit in the 700's on the fico score and a huge downpayment on the second car. Aside from that, why let your son have a new car? Take out a loan for about 4000 after you get your car and have him go through the newspaper and get a used car that you won't worry about as much… after all it is his first car, it's GOING to get a few dings. Try for a corolla as it has great saftey ratings, good on gas, and is less expensive than others that will lower his insurance costs. It is one of three vehicles that will cost the least for a male under 25.

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i have a auto loan through capital one for a 1995 toyota. i was wondering if any other company did loans for cars that are older then 10 years old… any one know of any?

Anybody will give you a loan for a car regardless of it age as long as you have collateral to back it up..even me

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13″” x 24″” Lighted Imitation Neon Sign - “”Auto Title Loans“”

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I am looking for a payday auto loan. I have a car but I am still paying car notes on it. I heard there are auto loan places out that that does loans and you don’t need the title.

D.J., I’ve searched all around for a quick payday loan online, and the best one I found, and that I’ve used a several times was http://www.goodinternetdeals.com/Payday-Loan.html - the interest rate is acceptable and they put the funds in by the next day. I hope this helps you, best of luck!

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