Archive for October 2011
Auto loans are available today to all kinds of borrowers. The expansion of the auto loan business has only worked to the advantage of borrowers. This is because cheaper auto loans are now being offered by a large number of auto loan lenders.
There are basically three types of auto loan lenders: car dealers, traditional lenders like banks, and online lenders. All these lenders have different terms and conditions attached to their loans.
Traditional lenders are known to be the most adamant when offering auto loans. They are mostly interested in people who have a good credit history. If you fail this test, your auto loan application may be disapproved or you will be charged high interest rates.
Many people are familiar with car dealers when seeking auto loans. The thing that most people fail to know is that their rates for auto loans are usually hiked. When you approach a car dealer for an auto loan, they approach a different lender who may approve your application for say 8% interest rate. The car dealer, seeking to make profit, may give you a rate of 11%. You then end up paying a more than you should.
Online lenders have managed to attract all sorts of borrowers with all kinds of credits. The competition they face has led to low interest rate auto loans being offered to all kinds of borrowers. Their approval process is also faster compared to their counterparts. People with bad credit are able to receive auto loans from these lenders. Those with good credit can secure low interest rate auto loans.
When filling out any auto loan application form, be genuine concerning the information you give. If auto loan lenders discovery any falsified information, your application will be immediately disapproved. Auto lending is a risky business. Any auto loan lender will counter check the information you provide to ensure that it is genuine. Information concerning your contact details, income, place of residence, and credit history are examples of information that will be required.
Depending on your credit status and preference, there are many auto lenders to choose from. With an auto loan, that dream car will be yours for the taking.
Written by jmai
Experienced article writer
As Ford UK celebrates its centenary year of UK car production, the Dagenham plant in the east end is celebrating 80 years since the first model rolled off the production line. Opened in 1931 the Dagenham plant took 28 months to build, the first model to roll of the production line was the Model AA Truck.
Till this day Dagenham remains Ford’s largest UK production facility, almost 11 million cars and more than 8 million engines have been produced there over the 80 years. Even though whole cars are no longer produced at Dagenham it still plays a major part in producing components for new cars, it is also close to a Ford bodyshop in Essex.
Currently at the Dagenham plant there are four engines being produced by the Dagenham Diesel Centre. The Diesel Centre was a later addition to the facility which was opened in 2003 by Tony Blair. The Dagenham plant boasts the production of Ford’s lowest CO2 emitting engine – the 1.6 litre TDCi diesel engine found in the Fiesta and Focus ECOnetic models.
The Dagenham plant was built to be one of the most accessible car plants in the world, it has rail way lines that connected directly to the Channel Tunnel, and it also has a deep water jetty to enable loading and off loading of vessels travelling around Europe. There are also the conventional fleet of trucks that deliver components and finished vehicles.
Ford has reported that as of 2009 the Dagenham plant has become a hub for exporting components around the globe. The plant’s Export Distribution Centre shipped 1,600 containers in 2010 compared to 900 containers in 2009.