Here’s what the auction piranha’s been munching on all day!

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Acura

Alfa Romeo

Aston Martin

Audi

Austin

Bentley

BMW

Bugatti

Buick

Cadillac

Chevrolet

Chrysler

Citroen

Cord

Daewoo

Datsun

DeLorean

DeSoto

Dodge

Eagle

Edsel

Ferrari

Fiat

Ford

Geo

GMC

Honda

Hummer

Hyundai

Infiniti

Isuzu

Jaguar

Jeep

Kia

Lamborghini

Lancia

Land Rover

Lexus

Lincoln

Lotus

Maserati

Maybach

Mazda

Mercedes Benz

Mercury

MG

Mini

Mitsubishi

Nissan

Oldsmobile

Plymouth

Pontiac

Porsche

Rolls Royce

Saab

Saturn

Scion

Smart

Subaru

Suzuki

Toyota

Volkswagen

Volvo


Online Auto Financing Information


Financing Options


The purchase of an automobile is a significant expense, which merits serious consideration. Well, let’s assume that you’ve already weighed in the option of walking vs. driving and decided to buy a car. You may or may not already know the kind of vehicle you will be buying and the price range that you deem appropriate – all essential decisions, worthy subjects of other articles. The important choice we’d like to help you consider is how to pay for this purchase: should you pay out of pocket or should you finance it with a loan and what type.


If you happen to have the money on hand, it may be easiest to lay it down and call yourself a proud owner of the means of transportation. Or you might still consider financing. Why, you might ask, would you pay interest for a loan you don’t need? Because your own money can be put to better work. Hypothetically, if your money is invested in a way that earns you 12% interest, and you can get an auto loan at 8% APR, you will be better off keeping your cash invested, taking the loan, and pocketing the extra 4% difference. Or perhaps you’d like to keep the cash handy, just in case.


Whatever your situation, know your options so you can make a better financial decision. You can start the process with checking the rates at your local bank, but more often than not you will find that bank rates are usually higher than what you can get online. Get a few quotes from different lenders before you settle on a provider. From Capital One’s No Obligation Blank Check® to ALoanYes.com’s $500-$250,000 loans, there are a myriad of online loan providers with attractive interest rates and flexible terms.


Types of Auto Loans


The key distinguishing attributes of an auto loan are: the interest rate you will have to pay, the length of time to repay, and whether it is secured or unsecured. Let’s look at each feature in more detail:


Interest rate – a percentage of the sum borrowed which you will need to pay to the lender as a fee. Economists like to call this "the price of money". Interest rates are paid monthly, but quoted as what they would amount per year. Quotes normally show a percent with the acronyms APR (annual percentage rate) or APY (annual percentage yield) next to it. The two are not very different, with APY (also known as "effective rate") being a little more exact because it takes into account the effect of compounding interest daily over a period of one year, which is what virtually every lender does. Of course, lenders prefer to give you quotes in APR, because they are just a fraction of a percent smaller numbers than APY (the opposite is more likely to happen when banks offer you their rates on savings accounts, for example). In the case of a car loan, the interest rate depends on the age of the car (the newer the car, the lower the rate) and also on the loan term (e.g., a 3-year loan will come with a lower rate than a 5-year loan, all else equal).


Loan term – the stipulated length of time to repay the loan. Loans for 12, 24 or 36 months are considered short-term and those for 48, 60 or 72 months long-term. Choosing a short-term loan with cost you a lower rate of interest, but will require a higher monthly payment. On the other hand, a long-term loan will come at a somewhat higher rate, but will make your monthly payment easier on your pocketbook. Three-year and five-year loans are most common for a car purchase. After all, you wouldn't want to be stuck with a car payment after the useful life of your purchase.


Secured vs. unsecured loans – the difference between the two is in what the financial institution will get from you if you default on the loan. Secured loans are normally drawn against the value of your house or other valuable property. Unsecured loans are drawn against your good creditworthiness. From the perspective of lenders, a secured loan is less risky and as such is likely to be offered at a lower interest rate. Secured loans are sometimes the only choice for people with poor or no credit.


AuctionPiranha.com

2009 Mini Cooper S

Make/Model

Mini Cooper S

Time Left

2d 20h 22m 33s

Starting Bid

$24,000

2008 Lincoln Town Car

Make/Model

Lincoln Town Car

Time Left

5d 16h 2m 50s

Starting Bid

$15,000

2003 Volvo V70

Make/Model

Volvo V70

Time Left

1h 15m 41s

Starting Bid

$100

2003 Ford Taurus

Make/Model

Ford Taurus

Time Left

2d 19h 34m 30s

Starting Bid

$1,000

2008 BMW Z4

Make/Model

BMW Z4

Time Left

1d 21h 33m 31s

Starting Bid

$34,900

2005 Chevrolet Equinox

Make/Model

Chevrolet Equinox

Time Left

3d 43m 23s

Starting Bid

$3,599

2003 BMW Z4

Make/Model

BMW Z4

Time Left

2d 14m 3s

Starting Bid

$12,000

2007 Honda Accord

Make/Model

Honda Accord

Time Left

4d 15h 6m 8s

Starting Bid

$17,225

2004 Chevrolet Express

Make/Model

Chevrolet Express

Time Left

6d 16h 25m 55s

Starting Bid

$10,975

1996 Buick Regal

Make/Model

Buick Regal

Time Left

4d 18h 24m 29s

Starting Bid

$775

2003 Ford Expedition

Make/Model

Ford Expedition

Time Left

6d 23h 16m 40s

Starting Bid

$10,999

2008 Land Rover LR2

Make/Model

Land Rover LR2

Time Left

5d 17h 17m 10s

Starting Bid

$10,000

2008 Porsche 911

Make/Model

Porsche 911

Time Left

2d 17h 24m 38s

Starting Bid

$73,850

1998 Chevrolet Express

Make/Model

Chevrolet Express

Time Left

5d 2h 29m 18s

Starting Bid

$1,000

2006 Hummer H3

Make/Model

Hummer H3

Time Left

2d 16h 46m 42s

Starting Bid

$5,000

2009 Mini Cooper S

Make/Model

Mini Cooper S

Time Left

7d 23h 2m 10s

Starting Bid

$17,500

2008 BMW Z4

Make/Model

BMW Z4

Time Left

1d 21h 33m 31s

Starting Bid

$34,900

2003 Ford F 250

Make/Model

Ford F 250

Time Left

2d 22h 44m 5s

Starting Bid

$16,900