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Category Archives: Lender Companies

Hyundai Capital America to offer Free FICO Scores

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

Posted in Lender Companies |

Government to Further Restrict Military Payday Lenders

The new definition of consumer credit, as it relates to the Military Lending Act, recently proposed by the Department of Defense could go a long way toward protecting members of the U.S. military from predatory lending practices. Continue reading

Posted in Lender Companies |

Avoid Online Payday Lenders

Storefront payday loans are bad and online payday loans are even worse. Cash-strapped consumers – especially those with poor credit – should check with banks, credit unions, their church, local charities and even relatives and friends first before turning to a payday lender. Continue reading

Posted in Lender Companies |

Now Is Still A Good Time for Bad Credit Auto Loans

The latest credit trends are a mixed bag for problem credit borrowers. On one hand, lenders continue to work with

credit-challenged borrowers. On the other hand, average loan amounts are escalating, which translates to an increase in the average interest expense of these loans – something that should be avoided. Continue reading

Posted in Lender Companies |

American Web Loan Worse than a Payday Loan

To say that the loans issued by American Web Loan are predatory is putting it mildly – the interest charged by most payday lenders pales in comparison. The mere fact that tribal lenders can ignore the majority of federal and state lending laws should be a wakeup call to anyone considering this type of loan. Continue reading

Posted in Lender Companies |

Credit Union Auto Loans Increase

The latest report from the NCUA shows that credit unions continue to increase their share of vehicle lending. The issue

that buyers with damaged credit face is that credit unions, as a rule, don’t buy as deeply as subprime lenders. But having said that, it never hurts to give your local credit union a first shot for a car loan. Continue reading

Posted in Lender Companies |

Down Payments and Trade Ins with Problem Credit

Most problem credit lenders require a down payment of either ten percent or $1,000, whichever is less. Everything else being equal, the higher the down payment amount, the better the chances for a loan approval.

In addition, if a trade-in is involved, the equity in the trade can be used towards a down payment. If there is no equity of if the trade is worth less than its payoff, the entire down payment plus cash that equals the negative equity will be needed in order to meet the requirements of the loan approval. Continue reading

Posted in Lender Companies |

Finding a Problem Credit Lender

If you have problem credit, chances are you’ll end up applying for a car loan at a dealership that works with a broad range of lenders.

How you find that dealer is up to you, but here at Auto Credit Express we want you to know that for over twenty years we’ve been helping customers just like you locate car dealers that can offer the best opportunity for auto loan approvals. Continue reading

Posted in Lender Companies |

Poor Credit Repossessions Increase

Although the subprime market continued to grow during the first quarter of this year, the increase in repossession rates is sure to cause these finance companies to moderate the pace of lending. If this happens, borrowers with larger down payments (with cash down or real trade equity) who are willing to consider a range of affordable vehicles will have a much better chance of receiving an auto loan approval. Continue reading

Posted in Lender Companies |

Renting Rides vs Monthly Payments

With companies like ZipCar, GetAround and Hertz on Demand, it’s becoming much easier to get away with just renting a car. So should you rent or should you buy? Continue reading

Posted in Lender Companies |
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