Auto Credit Express Blog

The Automotive and Financial Information Source for People with Special Credit Needs.

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Recent Articles
Can I Get Any Car I Want with a Bad Credit Auto Loan May 29th, 2015 by

If you have been approved for a loan, the time has come to select the vehicle you want to purchase. So what are your options? Can you really get any car you want? Your biggest limitation is your price range. How much can you afford? Keep in mind that when you have bad credit, you will need to factor in a higher interest rate. Continue reading

Getting a Car Loan with Poor Credit and Disability Income May 28th, 2015 by

Both private and SSI disability income is usually an issue with any car loan but it’s an even bigger problem if the buyer has tarnished credit. For most borrowers in this situation, the only alternative is a buy and pay here, tote the note, dealer that offers in-house financing. Continue reading

Car Leasing with Credit Issues May 27th, 2015 by

Credit-challenged borrowers currently in a Chapter 13 bankruptcy typically won’t qualify for a new car lease (and they will have to petition the court, through the trustee, in order to purchase a vehicle). The good news is that there are programs out there that will allow them to reestablish their car credit. Continue reading

Will Paying Off a Balance in Collections Increase My Credit Score? May 26th, 2015 by

Paying off a balance that has gone into collections may or may not improve your credit score. You have to remember that, at this point, the original creditors no longer own the debt, so all decisions regarding the account will be made by the agency that purchased the debt. Continue reading

Income Requirements for a Bad Credit Car Loan May 25th, 2015 by

Subprime lenders set minimum income levels to give borrowers the best chance to reestablish their auto credit by creating a realistic budget for their car payment. Continue reading

Getting Ready for a Subprime Car Loan May 24th, 2015 by

The first thing borrowers should do before applying for a car loan is to check their credit reports (and correct any errors) and find out at least one of their credit scores. In addition, if they have poor credit and are self employed, they will need at least two years of professionally prepared tax returns showing after-expense proceeds from the business that meet the minimum requirements of subprime lenders. Continue reading

Using a Postdated Check for a Down Payment May 23rd, 2015 by

A postdated check is not an acceptable down payment on a car loan and can result in the lender rescinding the deal and cancelling a dealer’s contract. The only way to avoid this, if the dealer is agreeable, is to wait until those funds are available before taking delivery. Continue reading

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