While a balloon car loan can reduce the monthly payment on a vehicle, lenders that offer these loans, because of the higher risk involved, usually only approve them for their most credit-worthy borrowers.
We receive many questions about the income requirements necessary for someone who is already struggling with damaged credit. Sometimes it requires some creativity to meet lender requirements while working with the each customer’s situation. We will introduce you to some …
Although it may look similar, an ITIN is not a Social Security Number. Since anyone with an ITIN is not eligible for an SSN, these consumers are also not eligible to take out a loan here in the U.S.
A couple years ago you bought the car you always wanted. It was brand new and you absolutely loved the way it looked and performed. Recently, however, financial situations have changed and you are finding it tougher and tougher to make the payments. You’ve talked to your lender, and while they gave you the option of deferring a couple months of your payments, you know that’s not going to solve anything. Now you’re wondering if it may be time to trade the vehicle in.
Buying a car can be exciting. It’s time for something new, and sometimes we get caught up in that excitement and get ahead of ourselves. And when this does happen, it often leads to disappointment when we get to the car dealership and discover that what we want isn’t exactly what we can get.This is why it is so important for all car buyers to get their financing arranged first.
Subprime leasing may be the next area lenders can expand into in regards to bad credit car buyers. The subprime market could benefit from more lending options that offer lenders a lower than anticipated risk, while still serving the needs of consumers with damaged credit.
In a perfect world, when a vehicle breaks down or is no longer drivable, drivers would simply go to a car dealership and buy a new vehicle. But the world is not perfect, nor does it stop if you are without transportation. For a car buyer who is dealing with bruised credit, having to buy a vehicle can feel like a total nightmare. Making a vehicle purchase doesn’t have to be hard, even for those with bad credit. You need a vehicle to get to and from your job and live life in general. There are dealers out there who can help you so you don’t need to resort to buying a very cheap car from a private seller, which can be highly risky.