For car buyers who have gone through some type of bankruptcy and now have generally poor credit, believe it or not this is actually a good time to apply for an auto loan instead of heading to the local BHPH car dealership.
But the fact remains that credit-challenged consumers should also know what items are not considered, at least by FICO, when a credit score is computed.
what to expect when buying a car with bad credit
One way consumers with bad credit can tell if an offer to lend is legitimate is if the lender asks for a fee up front to process a car loan application.
It’s been proven that car buyers with bad credit hoping for easy financing for cars are especially open to being taken in by sellers pushing used cars with hidden damage.
Like many neighborhoods there are thieves hoping to take advantage of the unwary. But instead of ripping off flat screen televisions these people are more than content to steal an individual’s private information so they can assume that identity. Down the road this can make it difficult even for those with bad credit to qualify for an auto loan