First Time New Auto Loan

[radiomando]

hi, i am planning for a new car loan soon.   i have a question.  i have been rebuilding credit for about 2 years now.   most of my accounts up to recent additions, have been thru my credit union.  i am thinking it looks like i need to spread my accounts over different lenders.   i figure my credit union may give me the best rate.  additionally, i plan on a large downpayment, 50%, and a shorter term loan that i wlll pay off early.   any ideas or suggestions as to who i should choose as my auto loan lender?

[Anonymous]

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@radiomando wrote:

hi, i am planning for a new car loan soon.   i have a question.  i have been rebuilding credit for about 2 years now.   most of my accounts up to recent additions, have been thru my credit union.  i am thinking it looks like i need to spread my accounts over different lenders.   i figure my credit union may give me the best rate.  additionally, i plan on a large downpayment, 50%, and a shorter term loan that i wlll pay off early.   any ideas or suggestions as to who i should choose as my auto loan lender?

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50% down payment itself should lend you in great position for approval provided there are no other derogatory items on your credit report. With that down payment any lender would be more than happy to finance you so do rate shopping and for the best rates you qualify for.

[pizzadude]

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@Anonymous wrote:

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50% down payment itself should lend you in great position for approval provided there are no other derogatory items on your credit report. With that down payment any lender would be more than happy to finance you so do rate shopping and for the best rates you qualify for.

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+1, putting that much down will be a big plus towards getting approved.    Have you had any auto or installment loans previously ?