9. Time on job - A simple question that needs exact information. Don't just round off the time that you have been on the job to try and get more value out of the loan.

    10. Income - Declaring your income may seem tricky but it is actually very easy. It is however, one of the key inputs that will determine the amount of loan that can be sanctioned. While putting the details of your income, make sure that you have your latest pay stub with you. For example if your 'year to date' income is $25480.00 as of June 15th, 2008 then you will need divide your 'year to date' by 5.5 making your monthly income equal to $4632.73. If you are getting paid $15.00 per hour and you work only 40 hours per week then the calculation that you should do is as follows

a. Weekly income - 40 hours x $15.00 = $600.00
b. Annual income - $600.00 x 52 weeks = $31200.00
c. Monthly income - $31200.00 / 12 months = $2600.00

    Do not make the mistake of only multiplying your weekly income ($600) by 4 weeks to arrive at the monthly income since that will give you $2400.00, $200 lower than the earlier exact example.

    11. Credit References - if you have applied for a loan before and repaid that entirely, it is an extremely good idea to provide the specific references in this section. A financial institutions reference is extremely weighty if it is good in order to procure a good loan the next time. You will need to provide all the specific numbers that can allow for verifications as in the loan number or file number, exact amount of loan taken, and the time period in which it was paid back.

Make sure to mention whether you paid before the term of the loan ended, just in time or later. If you are trying to get a car loan you should get a letter of satisfaction that includes all the above information from your previous auto company. Take this to your new car dealership and it is sure that 'A' rated banks like Ford Motor Credit Company, GMAC, Bank of America and others will definitely value it. Your credit cards should also be mentioned in this section.

    12. Name of your Bank - It is important that you provide details of your checking account or saving account since the financial institution that you are going to take the loan from will need post dated checks for the monthly repayment every month. Getting a checking account is not tough and these days you can get one easily through Washington Mutual, Bank of America or others.

    13. Other Jobs - This is the section where you can provide details of other incomes that you have. You can include part time jobs, interest or rentals that your receive, if any. Make sure that you can provide a VOI (Verification of Income) when you are asked for it later. You will need to mention all your investments like Retirement, SSI, CD's, Child Support or other investments that you may have made.

    14. Repossessions or Bankruptcy - This section has been put in the application to check on consumers who may have had repossessions or bankruptcy in the past. If you have had 'Merchandise Repossessions', mention it here. Make sure that you provide all factual information since such information is likely to be there in your credit history and score details anyway.

With the above, we have covered almost all the information that you are likely to be asked for in a auto loan or credit card application form. Even though we have gone through each and every aspect that is likely to be covered in a loan form, the essential mantra of the entire art is to provide complete factual information. Do not try and hide information that you feel will harm your chances.

Honesty and truthfulness is respected in the financial circles even today. The critical eye of the loan officer is unlikely to miss a discrepancy and if (god forbid) such an anomaly is discovered, you are likely to get rejected for loan. In such situations, there is no doubt about the fact that 'honesty is the best policy'.

Slicemypayments is a company that provides helpful support to consumers who are looking for financial assistance on auto loans, credit cards, credit report resolution and mortgages.

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