Last week General Motors announced an enhancement to their military discount program that could potentially help members of the military with problem credit.
Here at Auto Credit Express we often get questions from car shoppers searching for online car loans that go something like this: “if I have terrible credit will I qualify for any kind of car loan and if I do can I finance a new vehicle?”
we still believe consumers with bad credit should be aware of what can happen if they are contemplating going the private seller route for their next vehicle once they have reestablished their credit.
Over the years we have noticed that car buyers, especially those consumers with poor credit who have recently been approved for an auto loan, can be taken in by the sales pitches from telemarketers touting used car service contracts.
Car buyers with damaged credit usually want to know if they can quality for an auto loan with a zero down payment. The answer in most cases is “no” – unless they have a trade-in with enough equity to meet the lender’s conditions.
For car shoppers with poor credit there are a number of advantages to financing a used vehicle with an auto loan from a subprime lender.
Car buyers with damaged credit can, in some instances, increase their chances of qualifying for an auto loan by correcting the inaccuracies and having outdated negative entries removed from their credit file before starting the application process.