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Apartment Community Spotlight: Aura Pentagon City
Aura at Pentagon City is the destination address that proves you donât have to live in the District of Columbia to be a true resident of the nationâs capital. Your new address is the center of the DC Metro area, including all commuter routes and, of course, the areaâs parks, shopping, dining, and nightlife options. A quick walk–just blocks from either the Pentagon City or Crystal City Metro and youâre home!
Choose a beautifulÂ studio, one or two-bedroom apartment home thatâs designed just the way you like it, with just enough space for your needs. Apartment homes range in size from 519 square feet to 1,243 square feet and with nearly 20 options to choose from, youâre sure to find a floorplan that suits your life. And our favorite feature;Â they’re pet-friendly!Â
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Aura Pentagon City truly makes residents feel at home. They treat residents with high-end customer service, regardless of the situation. In addition to the wonderful team at Aura Pentagon City, the community amenities are top-notch.Â Whether you value underground parking, outdoor space, a business center, valet dry cleaning, rooftop pools and sundecks, on-site maintenance, fitness center, and even a dog park for your four-legged friend,Â they have it all â and more.Â Two resort-style pools, a fully equipped fitness center, and concierge are our favorites! Additionally, there is on-site parking, trash and recycling, and on-site dry cleaning. Can you think of anything missing from this community, because we can’t!
All in all, Aura Pentagon City is our community of choice when it comes to the Pentagon City neighborhood. The lux amenities, stellar service, and its central location are our main reasons why we love it. If you are looking into making Arlington, VirginiaÂ your home, Aura Pentagon City should be at the top of your list â we promise youâll love it!
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Read Apartment Highlights: Aura Pentagon City on Apartminty.
This Article was Updated July 5, 2018
When you are looking to buy a vehicle, the first thing you should do is apply for a preapproved loan. The loan process can seem daunting, but itâs easier than you think and getting preapproval prior to going to the car dealer may help alleviate a lot of frustration along the way.
Here are five steps for getting a car loan.
1. Check Your Credit
Before you shop for a loan, check your credit report. The better your credit, the cheaper it is to borrow money and secure auto financing. With a higher credit score and a better credit history, you may be entitled to lower loan interest rates, and you may also qualify for lower auto insurance premiums.
Review your credit report to look for unusual activity. Dispute errors such as incorrect balances or late payments on your credit report. If you have a lower credit score and would like to give it a bit of a boost before car shopping, pay off credit card balances or smaller loans.
If your credit score is low, donât fret. A lower score wonât prevent you from getting a loan. But depending on your score, you may end up paying a higher interest rate. If you have a low credit score and want to shoot for lower interest rates, take some time to improve your credit score before you apply for loans or attempt to secure any other auto financing.
2. Know Your Budget
Having a budget and knowing how much of a car payment you can afford is essential. You want to be sure your car payment fits in line with your other financial goals. Yes, you may be able to cover $400 a month, but that amount may take away from your monthly savings goal.
If you donât already have a budget, start with your monthly income after taxes and subtract your usual monthly expenses and how much you plan to put in savings each month. For bills that donât come every month, such as Amazon Prime or Xbox Live, take the yearly charge and divide it by 12. Then add the result to your monthly budget. If youâre worried, you spend too much each month, find simple ways to whittle your budget down.
Youâll also want to plan ahead for new car costs, such as vehicle registration and auto insurance, and regular car maintenance, such as oil changes and basic repairs. By knowing your budget and what to expect, you can easily see how much room you have for a car payment.
3. Determine How Much You Can Afford
Once you understand where you are financially, you can decide on a reasonable monthly car payment. For many, a good rule of thumb is to not spend more than 10% of your take-home income on a vehicle. In other words, if you make $60,000 after taxes a year, you shouldnât spend more than $500 per month on car payments. But depending on your budget, you may be better off with a lower payment.
With a payment in mind, you can use an auto loan calculator to figure out the largest loan you can afford. Simply enter in the monthly payment youâd like, the interest rate, and the loan period. And remember that making a larger down payment can reduce your monthly payment. You can also use an auto loan calculator to break down a total loan amount into monthly payments.
Youâll also want to think about how long youâd like to pay off your loan. Car loan terms are normally three, four, five, or six years long. With a longer loan period, youâll have lower monthly payments. But bewareâa lengthy car loan term can have a negative effect on your finances. First, youâll spend more on the total price of the vehicle by paying more interest. Second, you may be upside down on the loan for a larger chunk of time, meaning you owe more than the car is actually worth.
4. Get Preapproved
Before you ever set foot on a car lot, youâll want to be preapproved for a car loan. Research potential loans and then compare the terms, lengths of time, and interest rates to find the best deal. A great place to shop for a car loan is at your local bank or credit union. But donât stop thereâlook online too. The loan with the best terms, interest rate, and loan amount will be the one you want to get preapproved for. Just know that preapproved loans only last for a certain amount of time, so itâs best to get preapproved when youâre nearly ready to shop for a car.
However, when you apply, the lender will run a credit checkâwhich will lower your credit score slightlyâso youâll want to keep all your loan applications within a 14-day period. That way, the many credit checks will only show as one inquiry instead of multiple ones.
When youâre preapproved, the lender decides if youâre eligible and how much youâre eligible for. Theyâll also tell you what interest rate you qualify for, so youâll know what you have to work with before you even walk into a dealership. But keep in mind that preapproved loans arenât the same as final auto loans. Depending on the car you buy, your final loan could be less than what you were preapproved for.
In most cases, if you secure a pre-approved loan, you shouldnât have any problems getting a final loan. But being preapproved doesnât mean youâll automatically receive a loan when the time comes. Factors such as the info you provided or whether or not the lender agrees on the value of the car can affect the final loan approval. Itâs never a deal until itâs a done deal.
If you canât get preapproved, donât abandon all hope. You could also try making a larger down payment to reduce the amount you are borrowing, or you could ask someone to cosign on the loan. If you ask someone to cosign, take it seriously. By doing so, you are asking them to put their credit on the line for you and repay the loan if you canât.
When co-signing a car loan, they do not acquire any rights to the vehicle. They are simply stating that they have agreed to become obligated to repay the total amount of the loan if you were to default or found that you were unable to pay.
Co-signing a car loan is more like an additional form of insurance (or reassurance) for the lender that the debt will be paid no matter what.
Usually, a person with bad credit or less-than-perfect credit may require the assistance of a co-signer for their auto financing and loan.
5. Go Shopping
Now youâre ready to look for a new ride. Put in a little time for research and find cars that are known to be reliable and fit into your budget. Youâll also want to consider size, color, gas mileage, and extra features. Use resources like Consumer Reports to read reviews and get an idea of which cars may be best for you.
Once you have narrowed down the car you are interested in, investigate how much itâs worth, so you arenât accidentally duped. Sites such as Kelley Blue Book or Edmunds can help you figure out the going rate for your ideal car. After youâre armed with this information, compare prices at different car dealerships in your area. And donât forget to check dealer incentives and rebates to get the best possible price.
By following these steps, youâll be ready to make the best financial decision when getting a car loan. Even if you arenât ready to buy a car right now, it doesnât hurt to be prepared. Start by acquiring a free copy of your credit summary.
It is always a good idea to pull your credit reports each year, so you can make sure they are as accurate as they should be. If you find any mistakes, be sure to dispute them with the proper credit bureau. Remember, each credit report may differ, so it is best to acquire all three.
If you want to know what your credit is before purchasing a car, you can check your three credit reports for free once a year. To track your credit more regularly, Credit.comâs free Credit Report Card is an easy-to-understand breakdown of your credit report information that uses letter gradesâplus you get a free credit score updated every 14 days.
We’re all about scoring a good deal here at Apartminty. While we love perusing the top-of-the-line luxury apartments in DC, we also understand, sometimes an affordable rent is the better option. Either way, instead of you searching for Washington, DC apartments on Craigslist and property management company listing sites, we are delivering our choice of the best apartments to rent in DC right now. Here’s our pick for the best Washington, DC apartment for rent today. Want more information on moving to DC? Check out Apartmintyâs Ultimate Guide to Moving to Washington, DC.
Adams Morgan/Columbia Heights
1768 Columbia Road NW
Washington, DC 20009
Unit #: 308
330 Sq Ft
Why it’s a great deal:
The Shawmut is in the intersection of Adams Morgan and Kalorama and just a quick walk to Dupont Circle. This apartment building is one of the most pet friendly buildings in D.C. They allow cats and dogs, but do not charge pet rent or a pet fee. The customer service and maintenance team are incredible.
The price on this studio apartment is not something you will see often! PLUS The Shawmut is offering two months free if you lease before the end of December! You are only responsible for electric and cooking gas. If you’re interested, reach out today! Looking for something a little different? Check out Apartminty’s guide How to Find an Apartment in DC. *Pictures may not be of exact unit.*
Read Get Two Months Free on This Adams Morgan Studio on Apartminty.
Imagine you’re shopping for a new car and finally find a reasonably priced set of wheels that you like. But when the dealer pulls your credit, that seemingly affordable monthly payment is no longer available to you. Instead, you’re offered a subprime car loan at 10% or even 20% interest because your credit isn’t strong enough to get a better rate.
How much does a cosigner help on auto loans when you’re facing this type of situation? Get more information below to help you decide whether seeking a cosigner is the right option for you.
How Does a Cosigner on a Loan Work?
A cosigner is basically someone who backs the loan. They sign agreeing that if you don’t make the payments as promised, they will step in to pay them.
If you don’t have much of a credit history or your credit is bad or poor, lenders are typically hesitant to give you an auto loan. They perceive you as risky. Will you pay as agreed? There’s not enough data or credit history for them to make that call.
However, a cosigner with a long history of good credit is different. The lender is more likely to believe that this person willpay as agreed. So, if you can get a cosigner to back you, you might have a better chance of getting a loan or getting better terms.
How Much Does a Cosigner Help With an Auto Loan?
How much can you save? Imagine you finance $37,851, the average price for a new light vehicle in the United States as of February 2020.
The average interest rate as of the end of 2019 for new car loans was 5.76%. If you’re able to get that interest rate and a loan term of 72 monthsâthat’s 6 yearsâyou would pay a total of $44,742. That’s $6,891 in interest and a monthly payment of around $621.
If you financed at 10% without a cosigner for the same terms, you’d pay a total of $50,488 for the vehicle. That’s $12,637 in interest and around $701 in monthly payments.
This is obviously just an example, but you can see that a cosigner can save you a lot. In this case, it’s $80 a month and more than $5,700 total.
Cosigner Versus Co-Applicant
It’s important to note that having a cosigner for a car loan is not the same thing as having a co-applicant. A co-applicant buys the vehicle with you. Their credit history and income are used alongside yours to determine if you, together, can afford the vehicle. The co-applicant also has an equal share of ownership in the vehicle purchased with the loan.
A cosigner, on the other hand, doesn’t have an ownership share in the vehicle. Their income may also not be a factor in the approval. Typically, they’re along only to provide a boost in the overall credit outlook.
What Are Some Downsides of Having a Cosigner?
Most of the risks or disadvantages are held by the cosigner. If you don’t pay the loan, they could become responsible for it. They could also suffer from a lower credit score if you’re late with car payments because it might get reported to their credit too.
As a borrower, you might experience a few disadvantages in using a cosigner. First, you have to get someone to agree to this, and you typically want it to be someone with good credit. Trusted family members are the most common cosigners, but that could mean that they might want to have a say in what type of vehicle you get.
And if something happens and you can’t pay the vehicle loan for any reason, you run a personal risk. You could damage your relationship with the cosigner if they do end up having to pay off the loan or face damage to their credit.
So, Should You Get a Cosigner for an Auto Loan?
The decision is personal. Before you do anything, check your credit and understand where you are financially. That helps you know what your chances for getting approved for a loan are on your own and how much loan you might be able to afford.
Then, check out some potential auto loans and consider whether you should apply for them on your own. If you know your credit is too poor or you try to apply for a loan and don’t get favorable terms, talk to a potential cosigner. Be honest about your situation and have a plan to pay the loan on time each month so they feel more confident supporting you as you make this purchase.
The post How Much Does a Cosigner Help with Getting Auto Loans or Better Loan Terms? appeared first on Credit.com.
We’re all about scoring a good deal here at Apartminty. Â While we love perusing the top-of-the-line luxury apartments in DC, we also understand, sometimes an affordable rent is the better option. Either way, instead of you searching for Washington, DC apartments onÂ Craigslist and property management company listing sites, we are delivering our choice of the best apartments to rent in DC right now. Â Here’s our pick for the best Washington, DC apartment inÂ Columbia HeightsÂ for rent today. Want more information on moving to DC? Check out Apartmintyâs Â Ultimate Guide toÂ Moving to Washington, DC.
Â CRESCENT PARK
Crescent Park ApartmentsÂ
2 Elmira Street SE
Washington, DC 20032
1Â Bedroom/1 Bath
Unit #:Â 3
710 Sq Ft
Why it’s a great deal:
If you are looking for a true rental deal,Â Crescent Park is a dream.Â Located right off of South Capitol Street, these spacious apartments come equipped with hardwood floors, updated kitchens, and free basic cable. With on-site maintenance and management teams, on-site laundry facilities, and the ability to pay your rent online!Â Looking for something a little different?Â Check out Apartminty’sÂ guideÂ How to Find an Apartment in DC.
Read Property Spotlight of the Day-Crescent Park on Apartminty.