With the higher interest rates that lenders charge consumers with bad credit, it doesn’t make a lot of sense to stretch the payments out for the longest term possible.
At Auto Credit Express, where we primarily deal with car loans, applicants with bad credit sometimes ask us, “What credit score do you need to lease a car?”
Lenders that offer auto through franchised new car dealers to car buyers with bad credit sometimes offer the option of financing a new car.
For consumers with questionable credit searching for online car loans there was some good news late last year from TransUnion.
Here at Auto Credit Express we find ourselves reminding applicants with problem credit that the internet is not always the safest place to be – especially if they qualify for a car loan.
Here at Auto Credit Express our experience leads us to believe that one of the keys for people with poor credit to successfully completing online car loans is to keep the loan term as short as possible while making sure the total monthly car budget is as affordable as possible.
For car buyers with bad credit, financing a used car that’s been involved in a flood or a serious accident can often affect the successful completion of an auto loan.