Auto Credit Express Blog

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Recent Articles
Subprime Car Loans Improve Credit Scores March 4th, 2015 by

The latest analysis from Equifax shows that credit scores do improve after credit-challenged borrowers take out an auto loan

Can I Refinance if I Have a Cosigner? March 3rd, 2015 by

If you want to refinance your auto loan, but you’re not sure if your credit score has improved enough to make this possible, a cosigner will improve your approval chances. Just make sure that the cosigner you have in mind is a qualified applicant who understands the risks that might be involved. Continue reading

Does Bad Credit Always Mean a High Interest Rate? March 2nd, 2015 by

If there were outlying factors that led to your economic state, such as a job loss, injury, divorce or a business related bankruptcy, and you were responsible for your finances up to that point, that is what is commonly referred to as “situational” bad credit. It is the best position to be in if you are in need of special financing. Continue reading

Mary and Liz Get Their First Cars March 1st, 2015 by

You may think that you’ll save a lot of money by paying cash for a cheap car. After all, who wants to have to deal with a car payment? However, in the long run, a cheap car may end up costing you far more than you bargained for. Continue reading

Why Don’t All Car Dealerships Work with Bad Credit Car Buyers? February 28th, 2015 by

If your credit is bad and you have been looking for a car to buy, you’ve likely run into problems finding a dealership that is willing to help you. And that can be extremely frustrating, especially when you need a car now.

Not all dealers are signed up with lenders who offer bad credit car financing. Choosing what lenders to work with is a big decision, and sometimes cannot be made by individual dealerships themselves. It needs to be done right, with the proper documentation. If not, the financial loss for all parties involved could be disastrous. Continue reading

Hyundai Capital America to offer Free FICO Scores February 27th, 2015 by

It’s absolutely critical that borrowers, especially those with tarnished credit, understand the information contained in their credit reports and know at least one of their credit scores. So, while one credit report from each CRA per year is free, it’s also reassuring to know that lenders such as Hyundai Motor Finance and Kia Motors Finance are beginning to furnish the all-important FICO score to their customers at no charge. Continue reading

What if I am Upside Down on My Car Loan? February 26th, 2015 by

Being upside down – or “underwater” – on a car loan is a situation in which you owe more money on a vehicle than what it is currently worth. This means that if you attempt to sell it, you still owe your lender money. In Travis’ case, he had bought his car with no down payment and a payment plan of 60 months, and was about halfway through his loan. He owed thousands more than it was now worth. Continue reading

Will I Ever Get a Good Interest Rate After Bankruptcy? February 25th, 2015 by

Going through a bankruptcy can leave you feeling like you will be cursed with high interest rates for life, due to the damage that has been done to your credit score. This simply isn’t true because time really does heal all wounds, even financial ones. And under the right circumstances, you may start to qualify for better loan terms sooner than you think. Continue reading

What Does My Credit Score Need to Be in Order to Lease? February 24th, 2015 by

You’ve noticed that there are some great lease deals out there, so you’re thinking that you might want to try leasing your next car. But you’re wondering just how good your credit needs to be in order to qualify for a lease contract. And while there is a general guideline, it really comes down to the individual discretion of each leasing company. Continue reading

I Am Recently Divorced. Why Can’t I Get a Car? February 23rd, 2015 by

According to a 2013 study by the Bureau of Labor Statistics, both parents work in 59.1% of married couples families with children. When you take that into consideration, this suggests that when couples split up, both sides are likely to take a significant financial hit to their income and credit. When you go from a two income family to one single income, there are a few things that can negatively affect your chances for getting auto loan approval. Continue reading

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