The value of a used car loan or LTV (loan-to-value) is important because it references the total amount the lender will give the borrower for a specific used car purchase. If you have applied for a used car loan and been declined, it's highly likely because the loan to value was not in line with the lenders criteria. The following information explains a few important aspects and factors affecting used car loan values and LTV.
Undoubtedly, purchasing a used car can be a daunting and overwhelming process. While you may be confronted with a wide selection -- vehicle makes, models, and colors -- you must also make sure the used vehicle is in your budget. Once you have made these decisions, along with several others, you must effectively choose the most reasonable means of financing your used vehicle. The following information highlights a few of the most effective ways to get the best used car financing, even if you don't have the absolute best credit score.
Topics: Auto Financing Tips