The latest report from TransUnion revealed that subprime loan originations have dropped big time compared to a year earlier. So, what does this mean if you are a borrower with bad credit who needs a car?
Black Book, a used vehicle valuation guide, conducted a survey and found that there is a disconnect between dealership trade-in appraisals and what consumers find their car to be worth online.
Do you need a driver’s license to buy a car? The short answer is that in most cases you don’t, but unless you pay cash you won’t be able to get it on the road.
Sometimes, a lender determines that your income and/or credit situation just isn’t enough to approve your auto loan application. But they may be willing to approve you if you get a cosigner. However, there are risks associated with using a cosigner, and it may be best to avoid the arrangement.
If you have credit issues and need a vehicle, its age and mileage, among other things, is important to lenders. This means you probably won’t be able to finance an older model with very high miles.
May is National Military Appreciation Month and military personnel on active duty, even those with credit issues, can sometimes take advantage of special military discounts, offered by many car manufacturers, which can make a new car more affordable.
Interested in a car loan? We go over all of the basic auto loan eligibility requirements that you will want to be aware of before applying.