In many areas such as our home state of Michigan as well as other parts of the country where there are facilities operated by the American car manufacturers, it’s been our experience that even buyers with problem credit who have applied for online car loans sometimes prefer financing a domestic car.
It’s easier to understand the reason higher-risk lenders have employment requirements if you know the three basic requirements they look for in an applicant – ability, stability and willingness to pay.
Usually one of the first questions we get from car buyers with problem credit is what interest rate they should expect on a car loan.
So while we aren’t lawyers and don’t presume to give any type of legal advice, we’d like to touch on how a bankruptcy may affect the ability to buy a car once it has been completed. What we are presenting here are simply observations based on our experiences over the years in subprime car lending.
Consumers with problem credit hoping to get approved for a car loan should be encouraged by the Equifax’s latest National Credit Trends Report issued earlier this year.
But according to the National Association of Insurance Commission (NAIC), looking only at the bottom line price of insurance while ignoring the signs of possible fraud can cause car owners more than just headaches as “taking a shortcut when it comes to your insurance could prove catastrophic and costly.”
Here at Auto Credit Express our specialty is helping car shoppers with problem credit find those car dealers that can give them their best opportunities for car loan approvals.