Like most things in life, there is a right way and a wrong way to go about securing a subprime auto loan. You only have a small window of time to make a good impression on the dealer, and there are a few things you can do to improve your chances of approval.
Upon submitting an application for a credit card or loan, you grant a potential lender permission to ask or “inquire” for a copy of your credit report from a credit bureau. How does this affect your credit score?
If you have no credit and need to finance a car purchase, having a cosigner can help you get approved for the loan. But what can you do when you don’t have that additional support?
How many car buyers actually qualify for 0% financing, and is this really such a good deal? Get the facts before heading to the dealership.
If you’re buying your first car, you may be worried about making mistakes. You’re not alone. Even seasoned buyers can feel intimidated by stepping onto a car lot.
When you’re looking for a new vehicle to buy, it only feels natural to start looking at specific cars that you might be interested in before getting approved for auto financing. But when you have damaged credit, you may have trouble getting exactly what you want.
If you have ever owned a car and been in a position where you still owe more on the loan than the vehicle’s actual cash value, this is called being underwater on a car loan. And, when purchasing a vehicle, there are ways to steer clear of an underwater situation.