Even as the sale of automobiles hit their highest in 2016, it is quite a paradox that it came at a hefty price. According to a report in 2014, the rate of auto repossessions increased by 70% and 60-day loan delinquencies shot up by 7% from the month of April that year.

Many times, it may happen that you apply for a loan, but the approval is declined by the lender. If the lender rejects your loan approval, it is generally because you do not meet the eligibility criteria of the lender. There are rare chances that the loan approval may be declined because of an error at the lender’s end.

Going to the bank for the approval of your first loan can be intimidating. It could also be a reality check for many individuals. To help you throughout the process, here are some tips to get your first car loan. Clear off debts To get loan approval for your first time, make sure you have cleared your debts like credit card bill payments.

Refinancing is essentially you applying for private loans. If you are on a student loan, there are companies out there who specialize in loans just like this. Here are some things you need to know before you opt for a private student loan refinance as you may have to give up loan protections, which may include:

One question that is always on parents’ minds when it comes to putting their child through a college  is –  where and how to get a loan approved from. It is usually pretty easy to get one from any institution which lends money; they usually have college loans for parents as a separate plan, with special parent student loan rates available.

Debt consolidation is a process in which someone obtains a brand new loan to pay out smaller loans, money owed, or payments that they’re presently making payments on. In doing this, they efficaciously bring together all the debts owed jointly into one blended mortgage with one month-to-month fee. Bringing a couple of obligations collectively and mixing them into one loan is known as “consolidating” them.