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up2drive auto finance review

by Parinda Researc... | Tue, 25/09/2007 - 15:44 | in

up2drive is a division of the BMW Group which is a major name in the auto industry. up2drive offers finance and insurance for all cars, motorcycles and light trucks. They offer loans for new as well as used cars.

Private party purchase cars

For private party purchases, the used cars they finance can be only upto five years old with a mileage of not over 70,000 miles. They do not finance vehicle leases or end-of-term leases. If you're looking for finance to buy out your lease, we suggest you try RoadLoans.

TIP: Loan Motors can give you an auto loan even if you have bad credit. Their application form is really short!

When financing private party vehicle loans, up2drive does not finance the purchase of the following types of vehicles:

  • Commercial vehicles and/or vehicles for business use.
  • Motorcycles.
  • Recreational vehicles
  • Motor homes
  • Camper vans, conversion vans.
  • ATVs, dirt bikes, DesertLites, boats, amphibious vehicles
  • Taxis
  • Limousines
  • Tow trucks
  • Freight liners
  • Tractor trailers
  • Dump trucks
  • Armored vehicles
  • Kit cars that do not have a VIN or a title issued.
  • Salvaged, rebuilt or branded title vehicles.

One of the best part about the up2drive web site is that you get an indicative quote for your loan as soon as you enter in the amount, choose your credit rating and the state you're a resident of. This takes seconds, literally. They don't make you fill out a mile long form for this, unlike many other auto loan companies. Of course, indicative quotes are exactly that - indicative and if you're applying for a loan, the form is relatively longer here but that's how all loan applications work.

Now, a word about APR (Annual percentage rate). APR usually varies with several factors including your creditworthiness, vehicle age and make/model, theloan amount and period of repayment. Their APR (Annual percentage rate) can go as low as 7.99 % if you have excellent credit. They offer a .50 % discount on the APR if you let them auto-debit your account every month using a system called 'EasyPay' which a lot of lenders seem to favor these days. It saves them banking cheques and they pass on part of the cost savings to their customers. It also saves you the trouble of making out a check in their favor every month.

Selling your vehicle

Buyers of cars often need to trade in their cars and then buy another. up2drive also helps you sell your car. Similar limitations apply to vehicles being sold. They do not facilitate sale of cars older than five years and exclude some types of vehicles. Mileage cannot exceed 70,000. up2drive is also not a seller of vehicles technically. They only seem to assist in selling your car. You can enter very basic information about your vehicle and create a printable 'for sale' sign that displays the monthly installment for your car. up2drive can then finance someone who wants to buy your car, so you get paid the entire amount. This is sujbect to the buyer being eligible for the purchase of a vehicle.

Vehicles financed by up2drive 

up2drive has these vehicles listed in their forms. This covers the list of brands which they do finance.

  • Acura
  • Alfa Romeo
  • Aprillia
  • Aston Martin
  • Audi
  • Bentley
  • BMW
  • Buell
  • Buick
  • Cadillac
  • Chevrolet
  • CHEVROLET TRUCK
  • Chrysler
  • Daewoo
  • Dodge
  • DODGE TRUCK
  • Ducati
  • Eagle
  • Ferrari
  • Ford
  • FORD TRUCK
  • Geo
  • GMC
  • GMC LIGHT DUTY
  • HARLEY-DAVIDSON
  • Honda
  • Hummer
  • Hyundai
  • Infiniti
  • Isuzu
  • Jaguar
  • Jeep
  • Kawasaki
  • Kia
  • KTM
  • Land Rover
  • Laverda
  • Lexus
  • Lincoln
  • Lotus
  • Maserati
  • Mazda
  • MERCEDES-BENZ
  • Mercury
  • MINI
  • Mitsubishi
  • Moto Guzzi
  • Navistar
  • Nissan
  • Oldsmobile
  • Peugeot
  • Plymouth
  • Polaris
  • Pontiac
  • Porsche
  • Rolls-Royce
  • SAAB
  • Saturn
  • Subaru
  • Suzuki
  • Toyota
  • Triumph
  • Volkswagen
  • Volvo
  • Winnebago
  • Yamaha

This seems quite an exhaustive list and would cover pretty much ever car you would want to buy. up2drive is part of the BMW group. You can get an indicative quote from them in seconds literally and the initial form is more like a calculator. It's a good idea always to compare rates from various lenders before you commit to an auto loan. So if you're looking for an auto loan, it doesn't cost anything to get a quote. Visit up2drive now.

The above review refers to a product or service only available within the United States.

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