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Recent Articles
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


Getting a Car Loan with Poor Credit May 22nd, 2015 by

Since most lenders that work with credit-challenged applicants only loan indirectly, what we do is match them to dealers in their area that represent their best chances to get approved for an auto loan. Continue reading


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