Consumer Car Buying Advice Blog

How to better your chances of an approval for bad credit auto loans

Our experience

Managing your money is a good way of taking charge of your FICO scores before applying for no credit auto loans.

We know this to be the case because for the last two decades we’ve been involved with credit-challenged car buyers here at Auto Credit Express. We also place applicants with dealers that specialize in bad credit car sales and our website can help with questions regarding issues such as auto loan refinancing and tote the note dealers as well as today’s topic – beginning your credit repair efforts before applying for a problem credit auto loan.

AFSA credit repair tips

We recently came across an article from the AFSA Educational Foundation about starting a successful financial plan to help you manage your money, boost your credit rating and improve your credit scores.

Here are some excerpts:

•    Keep track of your spending for at least one month to realize where your money is going. This exercise will help you identify unnecessary spending. Use your findings to create a realistic budget and review your budget monthly.

•    Pay yourself. Designate a fixed amount of money from each paycheck to automatically transfer into a savings account or 401k.

•    Collect change. This tried and true practice can provide you with a significant amount of money that you can deposit into a savings account or use to pay off balances.

•    Obtain a copy of your credit report at annualcreditreport.com and review it to know where you stand.

•    Comparison shop. In today’s economy, it is more important than ever to compare offers and allow extra time to make the best decision possible.

•    Take advantage of automatic bill pay for loan payments, utilities, etc. to avoid missed payments and late fees.

•    Make a commitment to pay more than the minimum payment on your credit cards if you cannot pay in full. Whether you pay an additional $5 or $50 each month, this strategy will help you pay off balances more quickly.

•    Take advantage of free online financial education resources such as www.afsaef.org, www.ftc.gov/consumer, and www.mymoney.gov.

As we see it

Even if you have bad credit right now it’s never too late to start taking charge of your finances. This can be especially important if you are thinking of applying for a bad credit auto loan.

But no matter where you are in the rebuilding process, you should also know that Auto Credit Express specializes in matching applicants with bad auto credit to dealers that can offer them their best chance at getting approved for horrible credit car loans.

So if you’re ready to reestablish your car credit, you can start now by filling out our online car loans bad credit application.

Tags: Bad Credit, bad credit auto loans, Credit Repair

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