Finding the right back to school vehicle can be a challenge if you have less than perfect credit. We take a look at four of the most affordable and highest rated back to school cars for credit-challenged buyers.
Continue ReadingFinding the right back to school vehicle can be a challenge if you have less than perfect credit. We take a look at four of the most affordable and highest rated back to school cars for credit-challenged buyers.
Continue ReadingWhen you are involved in a Chapter 13 repayment plan, you have agreed to pay a certain amount of your debt back to your creditors over a three or five year period. And when you need to purchase a vehicle during that time, or incur any additional debt, you need trustee approval in order to finish the process.
Continue ReadingManaging an auto loan is a great way to repair and rebuild damaged credit, while meeting a need for reliable transportation. With timely repayment, your credit situation can improve enough so that refinancing is an option. Refinancing is when you apply for a new loan, typically with lower interest rates. The question isn't if you should refinance, but when.
Continue ReadingIt would be great if a wave of a magic wand could fix your credit overnight. And while that can't happen, there are steps that you can take to accelerate the recovery of your good credit.
Continue ReadingThe first thing borrowers should do before applying for a car loan is to check their credit reports (and correct any errors) and find out at least one of their credit scores. In addition, if they have poor credit and are self employed, they will need at least two years of professionally prepared tax returns showing after-expense proceeds from the business that meet the minimum requirements of subprime lenders.
Continue ReadingSplitting payments can reduce the interest charges of a simple interest car loan, even for credit-challenged borrowers.
Continue ReadingIf you have damaged, credit, a certified pre-owned vehicle may be a good option for you to consider. While you will pay a little more than you would for a regular used car, the peace of mind that you will get from the purchase may be worth the higher price tag.
Continue ReadingCredit-challenged car buyers, especially those on a tight budget, should seriously consider automobile gap insurance when their annual mileage is above average, the finance term is over 60 months and the total down payment is less than 20 percent.
Continue ReadingNegative equity, or being upside-down in a loan, can cause quite a predicament if you decide that you want to sell a car that has a lower value than what you still owe on the loan. The best way to deal with negative equity is to take preventive measures right in the beginning. However, if you find that you are upside-down in your loan, there are still actions that you can take.
Continue ReadingHaving a cosigner can improve your loan approval chances, but if you either don't have a cosigner or wish to avoid using one, there are other actions that you can take to ensure your success in acquiring auto loan financing. If you have time to improve your credit before buying the car, this will be beneficial both now and in the long term.
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