Debt Consolidation » Auto Loans

Identity theft for auto loans?

admin — Tue, 07 Sep 2010 21:36:38 +0000

I recently checked a rate quote on allstates website and when they brought up a list of 4 vehicles associated with my address I noticed 2 of them for sure and maybe a 3rd are the exact models (down to trim level) as an acquaintance I have rid myself of. He has had access to my private information in the past. It would not surprise me one bit to find out he put my name and address on the auto loans, maybe even my social security #. How do I know if it is just a coincidence that those vehicles were pulled up or if they are actually associated with my address?
And how do I fix this if he is trying to use my identity for these cars?

I’m not here to be told to not share my personal information either. I have learned that lesson, believe me. Now I just want to fix the problem.
Thank you for your quick detailed response. Unfortunately, I have already pulled my report from annualcreditreport.com about 2 months ago, and one of the two vehicles was not listed on my report. The other vehicle, however, was purchased just a few weeks ago. I’m planning on visiting my social security office in the morning. Will they be able to look into it?
Thank you all for your informative replies. I am getting more worried about the potential mess I am in. A-jones I am having trouble opening the link you posted.
You say I should file a police report, Is this something I need to wait to do until I have conclusive proof that there have been accounts opened under my name without my consent, or should I go to the police immediately since, as you stated, these loans or accounts may take months to even show up?

What is the mathmatical formula to calculate auto loans?

admin — Tue, 07 Sep 2010 00:00:34 +0000

I have tried using compound and simple interest. My total amount to pay keeps coming up larger than what the bank says. What formula do banks use to calculate an auto loan.

I paid approx. 9000 for my car

My interest is about 7%

My loan is for 48 months.

I keep getting around 12,500 to pay.

Auto calculators and my bank says the total amount will be around ,000 total cost with principle + interest.

Can you please show me how to figure this out…

PS this is not for school. I do this for all my loans.

Senator Shelby opposes auto loans?

admin — Sun, 05 Sep 2010 21:40:37 +0000

Senator Shelby from Alabama opposes the auto loans for the Detroit 3,but isn’t it ironic that the state of Alabama has given some foreign automakers over 0 million since 1993 to locate in Alabama?Now isn’t this a form of a bailout?Or maybe re is receiving a kickback from the foreign automakers to try to get the loans for the Detroit 3 blocked?
So now it is OK to kill millions of jobs at GM,Ford and Chrysler and possible lose 0 billion of tax revenue in the next 3 years?
Where did you get that info?I have never heard GM say the labor and benefits cost is 80% of the cost of a vehicle(so what would the raw material cost be if this was true),that is pure crazy.The labor and benefits are less then 10% the cost of an average vehicle.
Think about it 80% of the cost of a average vehicle would be around ,000 in labor and benefits cost when it is actually less then 00.

TD Banknorth Auto loans?

admin — Sat, 04 Sep 2010 21:39:11 +0000

Anyone ever use TD Banknorth for auto loans? I never have seen them "advertised" on tv or radio or even in my bank, but their website talks about them. I have been a long time user of both there checking and saving accounts, and im now looking to purchase a new-used car. I think I have pretty good credit as well, just a little over 700’s

Anyone ever been through it with TD? Was it a hassle ect? How were the rates? Can you do it right there in the bank?

Thanks all, I really hate going into banks and asking them a million questions because you have all sorts of people watching/listening and it gets akward for me.

PS: Never got a loan before, so how does it work? Do I go to a dealership and apply, or do I go to a bank and apply? Or do I apply at the dealership with my bank? Im a newbie to this so if anyone has any inputs, let me know! Thanks all.

Do auto loans from Capital One require a 20 % down payment?

admin — Fri, 03 Sep 2010 19:14:32 +0000

Thanks in advance.

Income to Debt Ratio – Auto Loans?

admin — Thu, 02 Sep 2010 19:14:20 +0000

I have just paid my last auto lease payment. (total loan ,500) I will need to return my car next week and apply for a new loan to either purchase the car or purcahse a different vehicle. My income to debt ratio is 70% with this current loan on my credit report. (Similar % to when I got my car 36 months ago) Will this current loan, that I just completed, still show on my credit report and effect my income to debt ratio?

IE: It show I have ,500 credit line and now I want a car for ,000 and it soars my income to debt ratio to 100%.

How does that all work with secure loans?

Auto loans for a college student?

admin — Wed, 01 Sep 2010 16:49:45 +0000

I am 18 years old and will be attending college this fall.Due to being over 400 miles away from home during the holiday breaks I would like to invest long term payments on a car than other transportation. I think it will be a good investment. What car name brands are known for having good milage: most names I have read are Toyota and Honda, any other for a price range under 5k? I have recently applied for a credit card and question about how to get auto loans under new credit and 18 yrs. I plan to get under my parent car insurance ( progessive) for little to no charge. Thanks, I really need reliable transportation during breaks.
Need good car name brands.
Also answer questions like how can you get an auto loan and where can you use it. I have once read that auto loans can not be used towards independent sellers, I it has to be a company or with the government.

Who Do Auto Loans Collections People Go After If the Loan Isn't Repaid?

admin — Tue, 31 Aug 2010 19:14:50 +0000

I am currently listed as the primary driver on the insurance of a vehicle owned by my father. He is listed as the secondary driver on the insurance of that vehicle since he is listed as a primary driver on another older vehicle. Both vehicles are owned by him and under his name. He recently has stopped making payments to the loan company for the vehicle that I am currently driving.

So if he stops making the payments completely, will the auto loans collection people go after my assets since I’m listed as the primary driver on the insurance plan? Or do they just go after the owner of the vehicle/the person who signed/committed to the loan (my dad)?

Auto Loans for College Students and No Credit?

admin — Mon, 30 Aug 2010 21:38:36 +0000

Hello, I will be attending college this spring and I need transportation to go back and forth to school and work. I am looking to get an auto loan for about 4,000. I have no credit and I have low income of about 500 a month. Is there any way I could get a loan? please help me.

Should I use my IRA to pay off my credit card and auto loan?

admin — Mon, 30 Aug 2010 00:00:37 +0000

I am 26 yrs old and have 6500 in credit card debt and 00 remaining on an auto loan. I was thinking of using most of my IRA to pay off these loans. Being that I’m still in my mid- twenties and having 30+ years to save up for retirement, it seems like a good idea. Plus I’ll be able to aggressively save after I pay off these loans, both retirement and cash reserves. Good or bad idea?