Consumer Car Buying Advice Blog

Most subprime auto lenders require a down payment and your income tax refund is a great way to qualify for a car loan

Reestablishing your auto credit

With income tax season right around the corner, for credit challenged car buyers there is no better way to use a portion of their income tax refund than to begin the process of establishing their car credit and improving their credit scores.

At Auto Credit Express we know this because we’ve spent the past two decades helping consumers with bad credit find dealers for their best chance at auto loan approvals.

Along the way, we try to share what we’ve learned about the process of credit repair – especially considering the fact that purchasing a vehicle from a BHPH not only won’t help their current credit situation, but in most cases results in a great chance of repossession that will lower their FICO scores even further.

The reason for down payments

Although the lending climate for car buyers with credit problems has improved, higher-risk auto lenders, as a rule, continue to require down payments either in cash or real trade equity. In most cases, car buyers are being asked to contribute the same percentage, or more, than pre-recession levels.

But right now, with many potential car loan applicants getting ready to prepare their income taxes, there is no better time to begin planning ahead and consider taking the first step to restoring their car credit and raising their FICO scores by using a portion of their refund as a down payment on a poor credit auto loan.

How we can help

At Auto Credit Express we offer people with less than perfect credit an easy way to find dealers that specialize in helping customers that face a wide range of credit issues.

By filling out the car loan application on our site, consumers can avoid driving around while searching for a dealer that can help them as well as avoiding the embarrassment of getting turned down for a car loan because that particular dealer isn’t signed up with the right kind of lenders.

In fact, during the past twenty years we’ve helped thousands of people buy cars while reestablishing their auto credit at the same time. Our web site also helps applicants determine if they meet the basic qualifications for this type of loan as well as how much car they can afford. Finally, unlike other sites, our toll free number is listed on every page, in case applicants have any additional questions.

So if you’re one of these people and you’re ready to reestablish good credit, you can begin the process by filling out our online car loans application now.

Tags: Bad Credit, tax refund

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