Consumer Car Buying Advice Blog

People with bad credit that want to buy a car often end up at a Tote the Note car lot. Tote the note is a phrase used by We Finance Everyone car dealers. These car dealers often provide loans to people with bad credit with no credit check. Although these Tote the Note car lots may finance everyone, there is a down side to getting a no credit check auto loan from a We Finance Everyone car dealer. (more…)

I not going to take sides on this one, the passion on both sides of the argument is strong, I’m certain that I could make a strong case for both sides. I’d rather look at the long term effect this is going to have some of the people at GM, especially if the strike lasts a long time.

I’m guessing that workers at GM are similar to many Americans, that is to say a majority of them live paycheck to paycheck, have little savings put away, and carry a decent amount of credit card debt. When the income stops coming in these workers will have to make some hard choices. What do you stop paying first; credit cards, insurance, auto loan payments, mortgage? It really does not matter, if you cannot pay your bills you end up with bad credit score. (more…)

If you have bad credit and are considering getting an auto loan to buy a car, make sure you can afford the additional expense. There is more to consider than making your auto loan payment. You should also consider the monthly cost to insure the car and the risk associated with repairs and rising gasoline prices.

On of the best ways to recover from bad credit is to get a new loan and pay it off as agreed. It goes without saying that if you get a new loan and do not make the payments in a timely matter your credit could be worse off at the end of the loan than it was before you got the loan. (more…)

If you have a parent, spouse, son, or daughter with good credit, ask them to add you as an authorized user on a credit card account that they have had open for a long time. The card should also have a low balance compared to the available credit. If you do this, your score will increase.

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I think Bar None is a licensed lender so they can purchase credit score lists from the credit reporting agencies and send out their pre-approved direct mail piece.

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Often, people with bad credit believe that they cannot get an auto loan to buy a new car. Many believe that they have to buy a cheap used car if they have bad credit. The fact is, if you have bad credit, it is often easier to obtain an auto loan on a brand new car. One the reasons for this is that bad credit auto loan lenders offer better rates and terms on new cars. Another reason is that new car manufactures often offer consumers rebates in lieu of low interest rate financing. Rebates help if you are tying to get an auto loan with no money down.

There are many new cars under $20,000. Take a look at the following comparison between getting an auto loan for a new car under $20,000 and a similarly priced used car through the same lender: (more…)

I do not have any personal experience in this area, but there are legitimate companies that offer personal loans for people with bad credit. Whether they are licensed in your state or not, I do not know.

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Lately I’ve been reading allot of news articles and blogs that suggest that the recent implosion of the sub prime mortgage industry will have a dramatic effect on the sub prime industry as a whole. It may have an effect on other sub prime industries but I do not think it will effect bad credit auto loan lenders long term.

From what I’ve read, one of the primary reasons for the sub prime mortgage crash was the loan amounts compared to the home values were way out of whack. (more…)