After a divorce, so many aspects of your life change, and your financial state is likely one of the things that has changed the most. This could affect your ability to get easily approved for an auto loan.
The latest national report from Equifax on credit trends reveals low auto loan delinquency rates across the board, including those for credit-challenged consumers.
Auto Credit Express helps credit-challenged locate car dealers that stand to give them their best shot at auto loan approval. Subprime lenders are able to approve people with bad credit because they look to other factors beyond credit scores, such as income. But did you know that qualifying income is about more than what you make?
The subprime auto loan process works a little differently from that of a traditional auto loan. One difference is that you will need to bring more documentation to the dealership when you meet with the finance manager. Here is a list of what you will need.
If you’ve recently started a new job, but you have bad credit, getting approved for an auto loan becomes a bit trickier. Subprime lenders have general requirements they like to stick to, but they also understand that everybody’s situation is different.
U.S. military veterans and their spouses can take advantage of an expanded military discount program on a new Chevrolet, Buick or GMC vehicle through May 31, 2016, a few of which would work even if they have bad credit.
Recently, J.D. Power gave a briefing on the state of the U.S. auto market. Their findings suggest that consumers seeking an auto loan would be wise to act fast before any stricter lending practices are implemented.