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Category Archives: Auto Loans

Buying an Older Car with Bad Credit

To offset the increased risk, most subprime lenders will compensate by reducing the loan term as a vehicle’s miles increase. Likewise, the loan term will also be shortened as a vehicle’s age rises. Continue reading

Posted in Auto Loans |

Getting a Car Loan with More Than One Job

If you have two jobs, you can combine the income on the application provided it is received on a regular basis and it can be proven with documentation such as paystubs or bank statements. But since not all subprime lenders will allow this type of income, applicants will need to explain this circumstance to the dealer during the initial interview. Continue reading

Posted in Auto Loans |

Why You Shouldn’t Look for a Specific Car

Having a bad credit rating will impact your buying options, and until you have met with a bad credit car dealer, those choices will be hard to determine. You may not be able to get a brand new car, or the dealer you are working with can only qualify you for certain types and models of vehicles. Continue reading

Posted in Auto Loans |

Do I Need to Have References When Applying for an Auto Loan?

If you’re searching for a car, you probably want to be as prepared as possible when you find the dealership that can approve you for an auto loan. For bad credit car buyers, one of those steps is having a list of references ready to present to your potential lender. When you are working with a dealership that specializes in alternative auto financing, they look at factors outside of your credit to determine your reliability as a borrower. Continue reading

Posted in Auto Loans |

How to Lower the Interest Charges of a Subprime Car Loan

Splitting payments can reduce the interest charges of a simple interest car loan, even for credit-challenged borrowers. Continue reading

Posted in Auto Loans |

What Should You Do About Your Car Payment if You Lose Your Job?

If you lose your job, how are you supposed to keep up with your car payments? Is repossession inevitable? Absolutely not. There are ways to navigate this difficult situation and to keep your head above water until your finances can be straightened out. Continue reading

Posted in Auto Loans |

Getting Approved with a Large Down Payment

For borrowers with bad credit, a very large down payment can often offset a number of other negatives, including income that cannot be garnished. But in addition to exceeding the down payment requirements, many subprime lenders will also look at a borrower’s stability, income and past credit habits before approving the application. Continue reading

Posted in Auto Loans |
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