Frequently Asked Questions about Maryland Auto Loans
What is MDAutoLoans.com?
This site is designed to both provide information to the Marylander about auto shopping and to provide an opportunity to receive quotes from local and national lenders to meet their auto shopping needs.
Do I have to live in Maryland to use this service?
No. Though the information provided on this site is mainly geared toward the citizen of Maryland, anyone can get a loan through this site for use in any other state in the country.
What if I have bad credit?
If your credit is less than perfect, you can probably still get a loan through this site. We work with lenders who offer loan to those that other banks might consider 'high risk'. It would be better for you, however, if you worked on improving your credit before applying for a loan. There are some simple things you can do, as discussed on our 'Maximizing Your Pre-Purchase Credit' page that will help significantly improve your chances of getting a favorable loan.
Is my information secure?
Our site uses the latest in Internet Encryption technology through Secure Socket Layer (SSL) encoding to make sure that your information is safe and secure from any prying eyes.
What types of auto loans are available through this site?
All types. Whether you are looking to finance a new car or a used one, or even if you want to refinance a current vehicle loan, our network of lenders has the product for you.
My dealership offers 0% financing, isn't that better?
When you see a dealership offering such an incredible deal on auto financing such as 0%, one thing you want to pay attention to is the 'O.A.C.' part of the disclaimer that always follows. The truth of the matter is that very few people actually qualify for that 0% financing offer based on their credit score, and those that do usually find themselves facing other issues such as high monthly payments because in order to keep that 0% financing, they will have to pay off their vehicle very quickly. In addition, the dealership will attempt to make up for their loss in financing fees in other ways such as negotiating a higher price for the car. Read the other tips we have provided for financing and buying a new car.
Is there a preferred time to go car shopping?
Absolutely. If you want to save money in your car shopping experience, it is best to take advantage of the desperation that tends to affect auto dealerships when they have their quotas to meet. These times are at the end of the month and at the end of a quarter or the end of the year. You will find that the best deals are being advertised for vehicles at the end of the calendar year, and that salespersons are much more willing to negotiate a great deal with you when your sale may be what it takes to push them over their quota for the month or quarter.
Is this site a lender of auto loans?
No. Neither this site or its owners or operators are in the business of giving auto loans.
